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From Home Furnishing Business
Purple Innovation, Inc. Reports Second Quarter Results 2025
July 29,
2025 by Karen Parrish in Business Strategy, Industry 
Purple Innovation, Inc., a comfort innovation company whose mattresses promise to give you "less pain, better sleep," today announced results for the second quarter ended June 30, 2025.
"We are pleased with our second quarter performance, which reflects our disciplined execution and continued progress as we build a premium, sustainable, and profitable brand," said Rob DeMartini, CEO of Purple Innovation. "Revenue and profit exceeded our expectations, delivering sequential improvement, where strong demand from consumers and partners has temporarily outpaced our ability to fulfill orders."
DeMartini continued, "We are seeing strong validation of our brand and innovation strategy, led by the breakthrough success of our Rejuvenate 2.0 collection -- the first product to incorporate our new DreamLayer grid technology layered on top of our core GelFlex grid platform. We're also building significant momentum through our ongoing expansion with Mattress Firm, which remains on track, and through deepening relationships with partners such as Walmart and Costco, alongside strong and growing interest from both traditional and non-traditional partners.
These initiatives are fueling momentum across our business and advancing our long-term Path to Premium Sleep strategy. With third quarter revenue-to-date up in the mid-single digits range versus the same period last year, we remain confident in our ability to drive profitable growth and create shareholder value."
Second Quarter 2025 Financial Results
Second quarter 2025 net revenue declined by 12.6% to $105.1 million, compared to $120.3 million in the second quarter of 2024, reflecting delays in the timing of Rejuvenate 2.0 shipments, lapping reductions in wholesale door count from 2024, and softness in ecommerce.
Gross profit for the second quarter decreased to $37.7 million, compared to $48.9 million in the prior-year period. Gross margin was 35.9%, a decrease of 480 basis points year-over-year, and was adversely impacted by costs related to tariffs and the ramp-up of both the Mattress Firm roll-out and Rejuvenate 2.0 launch, which were partially offset by direct material and sourcing savings.
Second quarter operating expenses were $51.9 million, down 18.2% from $63.5 million in the prior year quarter. The decrease was largely driven by reduced advertising spend and benefits from restructuring and cost savings initiatives completed previously.
Net loss attributable to Purple Innovation, Inc. for the second quarter was $(17.3) million, a decline from $0.0 in the prior year.
Adjusted EBITDA for the second quarter was $(2.4) million, an improvement from $(4.1) million last year, driven primarily by our disciplined cost management.
2025 Outlook
The Company is reiterating its 2025 outlook for full year revenue to be in the range of $465 to $485 million and adjusted EBITDA in the range of flat to positive $10 million. The Company anticipates sequential growth in the second half of the year, driven by the successful launch of Rejuvenate 2.0 and the rollout of our expanded partnership with Mattress Firm.
Conference Call and Webcast Information
Purple Innovation, Inc. hosted a live conference call to discuss financial results. The call is also being webcast and can be accessed on the investor relations section of the Company's website, investors.purple.com. After the conference call, a webcast replay will remain available on the investor relations section of the Company's website for 30 days.