Purple Innovation, Inc.PRPLEarnings & Financial Report
Purple Carrot is a Needham, Massachusetts-based, and 100% plant-based meal kit company. Founded by Andy Levitt, it offers both prepared meals as well as meal kits to subscribers weekly. As stated in a 2022 article in Cosmopolitan, “each Purple Carrot meal kit results in 72% less carbon being released into the atmosphere as compared to the standard American meal.”
Revenue
$120.0M
Gross Profit
$41.7M
Operating Profit
$-23.1M
Net Profit
$-50.2M
Gross Margin
34.8%
Operating Margin
-19.3%
Net Margin
-41.8%
YoY Growth
12.5%
EPS
$0.47
Purple Innovation, Inc. Q1 FY2024 Financial Summary
Purple Innovation, Inc. reported revenue of $120.0M (up 12.5% YoY) for Q1 FY2024, with a net profit of $-50.2M (down 93.6% YoY) (-41.8% margin). Cost of goods sold was $78.3M, operating expenses totaled $64.9M.
Key Financial Metrics
| Total Revenue | $120.0M |
|---|---|
| Net Profit | $-50.2M |
| Gross Margin | 34.8% |
| Operating Margin | -19.3% |
| Report Period | Q1 FY2024 |
Purple Innovation, Inc. Annual Revenue by Year
Purple Innovation, Inc. annual revenue history includes year-by-year totals (for example, 2025 revenue was $468.7M).
| Year | Annual Revenue |
|---|---|
| 2025 | $468.7M |
| 2024 | $487.9M |
| 2023 | $510.5M |
| 2022 | $573.2M |
Purple Innovation, Inc. Quarterly Revenue & Net Profit History
Purple Innovation, Inc. results over the last 8 reported quarters, including revenue, net profit and year-over-year growth.
| Quarter | Revenue | Revenue YoY | Net Profit | Net Margin |
|---|---|---|---|---|
| Q4 FY2025 | $140.7M | +9.1% | $-3.2M | -2.3% |
| Q3 FY2025 | $118.8M | +0.1% | $-11.7M | -9.9% |
| Q2 FY2025 | $105.1M | -12.6% | $-17.3M | -16.5% |
| Q1 FY2025 | $104.2M | -13.2% | $-19.1M | -18.4% |
| Q4 FY2024 | $129.0M | -11.6% | $-8.5M | -6.6% |
| Q3 FY2024 | $118.6M | -15.3% | $-39.2M | -33.1% |
| Q2 FY2024 | $120.3M | +2.0% | $27.0K | 0.0% |
| Q1 FY2024 | $120.0M | +12.5% | $-50.2M | -41.8% |
Income Statement
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $120.0M | $120.3M | $118.6M | $129.0M | $104.2M | $105.1M | $118.8M | $140.7M |
| YoY Growth | 12.5% | 2.0% | -15.3% | -11.6% | -13.2% | -12.6% | 0.1% | 9.1% |
Balance Sheet
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Assets | $382.1M | $362.1M | $309.3M | $307.8M | $293.8M | $303.8M | $302.1M | $296.3M |
| Liabilities | $316.4M | $295.6M | $281.3M | $287.6M | $292.4M | $319.4M | $329.0M | $325.9M |
| Equity | $65.5M | $66.4M | $28.0M | $20.2M | $1.3M | $-15.6M | $-26.9M | $-29.7M |
Cash Flow
| Q1 2024 | Q2 2024 | Q3 2024 | Q4 2024 | Q1 2025 | Q2 2025 | Q3 2025 | Q4 2025 | |
|---|---|---|---|---|---|---|---|---|
| Operating CF | $-16.8M | $-8.9M | $1.1M | $6.8M | $-23.1M | $-4.0M | $-968000 | $-5.8M |