revenue $95.7M, net income -$30.5M. Purple Innovation posts wider Q1 loss, receives NASDAQ delisting notice, flags going-concern doubt

Filed April 28, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 6, 2025 · ~2 min read

Key Changes

• high

  Company received formal NASDAQ non-compliance notice April 5, 2025 for trading below $1.00 for 30 consecutive days; has until October 1, 2025 to regain compliance or face delisting, which would reduce liquidity and limit analyst coverage.

  Risk Factors: NASDAQ delisting verify on EDGAR →
• high

  Management disclosed substantial doubt about ability to continue as going concern, citing uncertain access to additional capital despite positive Q1 operating cash flow; accumulated deficit grew to $655.8M from $593.0M year-over-year.

  MD&A: Going concern verify on EDGAR →
• high

  Net loss widened $11.4M to $30.5M in Q1 2026 driven by $7.0M warrant revaluation loss and gross margin compression to 36.8% (down 260 basis points), partially offset by $3.5M operating expense reduction.

  MD&A: Net loss and margins verify on EDGAR →