PRPL - Purple Innovation stock slips on Q4 earnings miss and downside Q1 outlook

After twofold increase of ~109% over the past six months, Purple Innovation (PRPL) shares plunges 21.3% on missing Q4 estimates.Net revenue growth of 39.9% was driven by 57% rise in Direct-to-Consumer revenue.Wholesale revenue increased 9% for the quarter.Gross margin down 50 bps Y/Y to 47.2%. Adjusted EBITDA was $12.2M vs. $5.8M year ago.Q1 Guidance: Revenue: $160M-$170M (+31%-39% Y/Y) vs. consensus of $177.03M; Adjusted EBITDA: $11M-$14M vs. consensus of $18.3M.FY2021 Guidance: Revenue: $840M-$880M (+30%-36% Y/Y) vs. consensus of $823.83M; Adjusted EBITDA: $90M-$100M vs. consensus of $99.4M; Capex: $45M-$50M.Previously: Purple Innovation EPS misses by $0.05, misses on revenue (March 4)

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Purple Innovation stock slips on Q4 earnings miss and downside Q1 outlook