Lehi, Utah – Bed-in-a-box specialist Purple generated sales of $187m in the third quarter of 2020 . This is up 59.8% on the same period last year.
Purple sales boom in Q3 2020
EBITDA across the business fell by 76.2% to $2.5m in the third quarter of 2020. During the quarter, a number of financial changes affected the company, bringing EBITDA down.
CEO Joe Megibow said: 'Demand was at an all-time high during the third quarter.’ He added that the company had generated strong cash flow. ‘The investments made earlier in the year to expand our manufacturing capacity helped support strong growth in our direct-to-consumer mattress business,’ he said.
'We are on track for an exceptional year of growth and enhanced profitability. As we head into the final months of 2020 our focus is on fulfil demand over the holiday season and to kick off the new year from a position of strength and profitability.'