Purple Innovation Inc
For the period ended Sep 30, 2024. Filed Nov 4, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2024 · Filed Nov 4, 2024
PRPL$1.80-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
(unaudited – in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2024 | 2023 | |
| Cash flows from operating activities: | ||
| Net loss | $(89,587) | $(102,841) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation and amortization | 27,448 | 18,963 |
| Non-cash interest | 5,303 | 920 |
| Paid-in-kind interest | 7,028 | — |
| Non-cash restructuring, impairment and other related charges | 20,115 | — |
| Loss on impairment of goodwill | — | 6,879 |
| Change in fair value – warrant liabilities | 111 | — |
| Loss on extinguishment of debt | 3,394 | 4,331 |
| Stock-based compensation | 2,108 | 3,792 |
| Loss on disposal of property and equipment | 770 | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | 8,140 | 1,465 |
| Inventories | 2,971 | 696 |
| Prepaid expenses and other assets | 378 | (1,204) |
| Operating leases, net | (2,105) | 1,462 |
| Accounts payable | (16,558) | 544 |
| Accrued compensation | 10,045 | (801) |
| Customer prepayments | (1,940) | 723 |
| Accrued rebates and allowances | (3,203) | (1,229) |
| Accrued warranty liabilities | (621) | 7,422 |
| Other accrued liabilities | 1,592 | 3,070 |
| Net cash used in operating activities | (24,611) | (55,808) |
| Cash flows from investing activities: | ||
| Excess restricted cash returned to acquiree | — | (826) |
| Purchase of property and equipment | (6,160) | (8,769) |
| Investment in intangible assets | (221) | (588) |
| Net cash used in investing activities | (6,381) | (10,183) |
| Cash flows from financing activities: | ||
| Payments on term loan | (25,000) | (24,656) |
| Payments on revolving line of credit | (5,000) | — |
| Proceeds from related party loan | 61,000 | — |
| Proceeds from term loan | — | 25,000 |
| Payments for debt issuance costs | (3,466) | (6,126) |
| Proceeds from stock offering | — | 60,300 |
| Payments for public offering costs | — | (3,301) |
| Proportional Representation Preferred Linked Stock redemption fee | — | (105) |
| Tax receivable agreement payments | — | (269) |
| Net cash provided by financing activities | 27,534 | 50,843 |
| Net decrease in cash, cash equivalents and restricted cash | (3,458) | (15,148) |
| Cash, cash equivalents and restricted cash, beginning of the year | 26,857 | 41,754 |
| Cash, cash equivalents and restricted cash, end of the period | $23,399 | $26,606 |
| Supplemental disclosures of cash flow information: | ||
| Cash paid during the period for interest, net of amounts capitalized | $46 | $(338) |
| Cash paid during the period for income taxes | $305 | $341 |
| Supplemental schedule of non-cash investing and financing activities: | ||
| Property and equipment included in accounts payable | $352 | $2,936 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.