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Purple to Report First Quarter 2021 Results on May 17, 2021

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·3 min read
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Company Announces Filing Form 12b-25 and Form 10-K/A

LEHI, Utah, May 11, 2021 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), the leader in comfort innovation and the creator of the renowned Purple® Mattress, will report first quarter 2021 financial results on Monday, May 17, 2021, at approximately 7:00 a.m. ET. The Company will hold a conference call that day at 8:30 a.m. ET to review the financial results.

Purple (PRNewsfoto/Purple Innovation, Inc.)
Purple (PRNewsfoto/Purple Innovation, Inc.)

Investors and analysts interested in participating in the call are invited to dial (877) 425-9470 (domestic) or (201) 389-0878 (international) and provide the Conference ID: 13719816. The conference call will also be available to interested parties through a live webcast at investors.purple.com. Please visit the website at least 15 minutes prior to the start of the call to register and download any necessary software.

A telephone replay of the call will be available until May 31, 2021, by dialing (844) 512-2921 (domestic) or (412) 317-6671 (international) and entering the Conference ID: 13719816. Please note participants must enter the conference identification number in order to access the replay. After the conference call, a webcast replay will remain available on the investor relations section of the Company's website for 30 days.

The Company has filed a Form 12b-25, a Notification of Late Filing, with the Securities and Exchange Commission in order to extend the due date of its Quarterly Report on Form 10-Q for the period ended March 31, 2021 (the "Quarterly Report") for five calendar days, as permitted by Rule 12b-25 under the Securities Exchange Act. In its Form 12b-25 filing the Company has advised that the Quarterly Report could not be filed within the prescribed time period due to the Securities and Exchange Commission's public statement on April 12, 2021 informing market participants that warrants issued by special purpose acquisition companies ("SPACs") may require classification as a liability of the entity measured at fair value, with changes in fair value each period reported in earnings. The Company is reviewing the impacts of the corrections on the Company's unaudited financial statements for the quarterly period ended March 31, 2021. As a result of the foregoing, the Company was unable to provide complete financial results for the quarterly period ended March 31, 2021 by the required due date of May 10, 2021.

As required on Form 12b-25, the Company also provided limited financial information related to the quarter ended March 31, 2021 compared to March 31, 2020.

The Company also filed a Form 10-K/A on May 10, 2021 to amend the Company's Annual Report on Form 10-K for the year ended December 31, 2020 to restate the financial statement for the years ended December 31, 2020 and 2019 and previously issued unaudited financial statements for the periods ended September 30, 2020 and 2019, June 30, 2020 and 2019, and March 31, 2020 and 2019 to reflect the change in accounting treatment of it warrants.

About Purple

Purple is a digitally-native vertical brand with a mission to help people feel and live better through innovative comfort solutions. We design and manufacture a variety of innovative, premium, branded comfort products, including mattresses, pillows, cushions, frames, sheets and more. Our products are the result of over 25 years of innovation and investment in proprietary and patented comfort technologies and the development of our own manufacturing processes. Our proprietary gel technology, Hyper-Elastic Polymer®, underpins many of our comfort products and provides a range of benefits that differentiate our offerings from other competitors' products. We market and sell our products through our direct-to-consumer online channels, traditional retail partners, third-party online retailers and our owned retail showrooms. For more information on Purple, visit purple.com.

Investor Contact:
Brendon Frey, ICR
brendon.frey@icrinc.com
203-682-8200

Purple Innovation, Inc.
Misty Bond
Director of Purple Communications
misty.b@purple.com
385-498-1851

Cision
Cision

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SOURCE Purple Innovation, Inc.