Alpine, Utah — Purple Innovation, a bed-in-a-box company, generated sales of $117.4 m in the third quarter of 2019. This is higher by 66% than the same period in 2018.
Q3 Sales up 66% at bed-in-a-box firm Purple
Adjusted EBITDA across the business moved into the black in the quarter. Adjusted EBITDA was $16 m the third quarter of 2019. This compares with a loss of $2.7 m in the same period last year.
'Following strong growth during the first half of the year, the pace of our business accelerated significantly in the third quarter,' said Joe Megibow, CEO.
He said demand grew through wholesale, and direct to customer channels. The company increased efficiency in its manufacturing, supply chain, fulfilment and marketing departments. It also decided to postpone some marketing and human resource investments until later in the year.
Purple expects to end the year with sales around $400 m to $425 m and adjusted EBITDA between $24 m and $27 m.