Purple Innovation Sees 2023 Revenue $510M-$520M vs $558.85M Est.
Portfolio Pulse from Benzinga Newsdesk
Purple Innovation has revised its 2023 revenue outlook downwards to $510M-$520M, compared to the previous estimate of $558.85M. This is due to a more cautious view of industry demand. The company also expects a negative adjusted EBITDA between $(65) million and $(55) million.
November 09, 2023 | 10:51 pm
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NEGATIVE IMPACT
Purple Innovation's lower revenue outlook for 2023 and expected negative adjusted EBITDA could negatively impact its stock price in the short term.
The company's downward revision of its revenue outlook and expected negative EBITDA indicates potential financial difficulties, which could lead to a decrease in investor confidence and a drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100