Purple Innovation Reiterates FY24 Net Revenue Outlook Of $540M-$560M, Est $548.909M
Portfolio Pulse from Benzinga Newsdesk
Purple Innovation reaffirms its FY24 net revenue forecast of $540M-$560M, with an estimated midpoint of $548.909M. The company also maintains its outlook for full-year Adjusted EBITDA between $(20)M and $(10)M, expecting quarterly improvements and positive adjusted EBITDA in the second half of 2024.
May 07, 2024 | 9:32 pm
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POSITIVE IMPACT
Purple Innovation maintains its FY24 revenue and EBITDA outlook, expecting sequential quarterly improvements and positive EBITDA in the latter half.
Reiterating a stable revenue outlook and an expectation for improved financial performance typically instills confidence in investors, potentially leading to a positive short-term impact on the stock price. The emphasis on sequential quarterly improvements and a positive EBITDA forecast for the second half of 2024 suggests operational efficiency and growth, further supporting a bullish outlook.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100