Alpine, Utah — Purple Innovation, a bed-in-a-box company, had total sales of $ 83.6 m in first quarter of 2019. This is up 37.5% on the equivalent period last year.
Adjusted EBITDA across the business moved from a loss of $ 771,000 in the first quarter of 2018 into a gain of $6.2 m.
The adjustments to EBITDA include ignoring $5.2m of one-off costs in the quarter. These include paying off debt, the cost of an interim CFO, severance costs and legal fees amongst others
‘Our first quarter results were highlighted by strong revenue growth and a significant improvement in operating profit,’ said Joe Megibow, Chief Executive Officer. ‘We continue to experience increasing demand for our differentiated product offering, especially through our wholesale channel,’ he adde