Purple Innovation Reports Record First Quarter 2021 Results First Quarter Net Revenue Increased 52% to $186.4 Million First Quarter Net Income was $20.9 Million First Quarter Adjusted EBITDA Increased 115% to $22.8 Million Raises 2021 Outlook Share this article Share this article LEHI, Utah, May 17, 2021 /PRNewswire/ -- Purple Innovation, Inc. (NASDAQ: PRPL) ("Purple"), a comfort innovation company known for creating the "World's First No Pressure ™ Mattress," today announced results for the first quarter ended March 31, 2021. First Quarter Financial Summary (Comparisons versus First Quarter 2020) 1 Direct-to-Consumer (DTC) revenue increased 54.8%; Wholesale revenue increased 47.6%. Gross margin improved to 46.9% compared to 43.5%. Operating expenses as a percent of net revenue were 37.9% compared to 37.3%.