Adjusted EBITDA across the business hit $12m in the first half of 2019. This compares with an adjusted EBITDA loss of 4m in the first half of 2018.
Sales growth came from wholesale business in physical stores, said Purple. The a $47.6m increase in bedding sales was due to an increase in wholesale revenue, the company said. Getting product into over 1,500 more stores than the first half of last year helped.
Over the first six months of 2019, the company's direct-to-consumer sales were $117m. Sales via wholesalers were $69m in the period.
Joe Megibow is Purple's CEO. Looking at the results he said: 'We delivered strong year-over-year revenue growth. Our wholesale expansion and enhanced marketing programs continue to drive greater awareness. We are very pleased with the way 2019 is unfolding.'
| Purple Innovation numbers H1 2019 ( $ m) | |||
|---|---|---|---|
| 2019 | 2018 | Change % | |
| Sales | 187 | 137 | 36.7% |
| Adjusted EBITDA | 12 | -4 | NM |
| Margin % | 6.4 | NM | |
| Source: Purple Innovation. NM=not meaningful | |||
