Utah, US – Mattress maker Purple has revised its guidance for 2024 downwards. It is now expecting net revenue for the full year to fall in the range $486-488m, down from the previous prediction of $490m to $510m.
It still expects adjusted EBITDA to fall in negative territory, between -$21m and -$23m. This is slightly worse than the earlier expected range of -$10m and -$20m.
“We continued to navigate a challenging macro environment through the end of 2024,” said CEO Rob DeMartini. “We are slightly adjusting our guidance to better reflect our full-year expectations.”
However, he said, the company is projecting that both adjusted EBITDA and cashflow will be positive in the fourth quarter. “[This] marks an important, positive milestone for our Path to Premium Sleep strategy,” he said.