Purple Innovation, Inc.
For the period ended Mar 31, 2026. Filed Apr 28, 2026.
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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.
Mar 31, 2026 · Filed Apr 28, 2026
PRPL$1.80-0.6%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 1. Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets
(unaudited – in thousands, except for par value)
| March 31, 2026 | December 31, 2025 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $24,955 | $24,345 |
| Accounts receivable, net | 21,143 | 41,272 |
| Inventories | 58,088 | 59,725 |
| Prepaid expenses | 5,829 | 5,487 |
| Other current assets | 5,562 | 5,891 |
| Total current assets | 115,577 | 136,720 |
| Property and equipment, net | 75,833 | 77,961 |
| Operating lease right-of-use assets | 67,085 | 67,271 |
| Intangible assets, net | 6,152 | 6,346 |
| Other long-term assets | 7,340 | 7,961 |
| Total assets | $271,987 | $296,259 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable | $41,992 | $40,312 |
| Accrued compensation | 5,913 | 7,673 |
| Customer prepayments | 4,738 | 5,276 |
| Accrued rebates and allowances | 8,573 | 13,416 |
| Accrued warranty liabilities – current portion | 7,498 | 7,141 |
| Operating lease obligations – current portion | 16,902 | 17,366 |
| Other current liabilities | 7,597 | 10,339 |
| Total current liabilities | 93,213 | 101,523 |
| Related party debt | 119,199 | 111,305 |
| Accrued warranty liabilities, net of current portion | 19,981 | 19,570 |
| Operating lease obligations, net of current portion | 74,997 | 75,616 |
| Warrant liabilities | 23,108 | 16,150 |
| Other long-term liabilities | 1,629 | 1,764 |
| Total liabilities | 332,127 | 325,928 |
| Commitments and contingencies (Note 13) | ||
| Stockholders’ equity (deficit): | ||
| Class A common stock; $0.0001 par value, 210,000 shares authorized; 108,634 issued and outstanding at March 31, 2026 and 108,246 issued and outstanding at December 31, 2025 | 11 | 11 |
| Class B common stock; $0.0001 par value, 90,000 shares authorized; 163 issued and outstanding at March 31, 2026 and at December 31, 2025 | — | — |
| Additional paid-in capital | 595,687 | 595,582 |
| Accumulated deficit | (655,821) | (625,280) |
| Total stockholders’ equity (deficit) attributable to Purple Innovation, Inc. | (60,123) | (29,687) |
| Noncontrolling interest | (17) | 18 |
| Total stockholders’ equity (deficit) | (60,140) | (29,669) |
| Total liabilities and stockholders’ equity (deficit) | $271,987 | $296,259 |
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