The company's financial position has deteriorated significantly, with total equity falling to a negative $60.1 million by 2026Q1, reflecting a structural imbalance where total liabilities of $332.1 million consistently exceed total assets.
Purple Innovation, Inc. (PRPL) balance sheet — 12-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 |
|---|
| Total Current Assets | 103.01M | 136.72M | 126.37M | 141.81M | 161.46M | 229.5M | 229.07M | 114.12M | 47.7M | 230K | 278K | 1.18M | 1.3M |
| Cash & Short-Term Investments | 28.34M | 24.34M | 29.01M | 26.86M | 40.05M | 91.62M | 122.95M | 33.48M | 12.23M | 220K | 237K | 1.05M | 256K |
| Cash Only | 28.34M | 24.34M | 29.01M | 26.86M | 40.05M | 91.62M | 122.95M | 33.48M | 12.23M | 220K | 237K | 1.05M | 256K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 11.55M | 41.27M | 33.06M | 37.8M | 34.57M | 25.43M | 29.11M | 28.69M | 10.24M | 4.18M | 0 | 0 | 440.1K |
| Days Sales Outstanding | 21.2 | 32.14 | 24.73 | 27.03 | 22.01 | 12.78 | 16.39 | 24.45 | 13.08 | 7.75 | - | - | 37.31 |
| Inventory | 53.5M | 59.73M | 56.86M | 66.88M | 73.2M | 98.69M | 65.73M | 47.63M | 22.94M | 13.35M | 5.33M | 382.33K | 608.26K |
| Days Inventory Outstanding | 82.52 | 77.81 | 67.66 | 72.07 | 73.17 | 83.53 | 69.87 | 72.62 | 48.35 | 43.55 | 44.26 | 31.32 | 82.58 |
| Other Current Assets | 4.9M | 5.89M | 1.41M | 1.74M | 5.82M | 5.7M | 4.56M | 3.44M | 1.49M | 492K | 0 | 0 | 0 |
| Total Non-Current Assets | 145.27M | 159.54M | 181.48M | 248.81M | 271.88M | 412.97M | 325.66M | 33.6M | 24.01M | 122.05M | 155.54M | 155.29M | 43.2K |
| Property, Plant & Equipment | 135.25M | 145.23M | 169.39M | 224.43M | 239.21M | 180.65M | 102.89M | 31.98M | 22.51M | 13.46M | 6.1M | 29.35K | 43.2K |
| Fixed Asset Turnover | 3.07x | 3.23x | 2.88x | 2.27x | 2.40x | 4.02x | 6.30x | 13.39x | 12.69x | 14.62x | 10.73x | 198.93x | 99.67x |
| Goodwill | 0 | 0 | 0 | 0 | 4.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 5.59M | 6.35M | 8.89M | 22.2M | 26.22M | 13.2M | 9.95M | 1.1M | 1.49M | 1.27M | 130K | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 156M | 155M | 0 |
| Other Non-Current Assets | 4.43M | 7.96M | 3.2M | 2.19M | 1.55M | 1.32M | 1.58M | 525K | 5K | 107.32M | -457K | 263.65K | 0 |
| Total Assets | 248.28M | 296.26M | 307.85M | 390.63M | 433.33M | 642.47M | 554.73M | 147.72M | 71.71M | 122.28M | 155.82M | 156.47M | 1.35M |
| Asset Turnover | 1.60x | 1.58x | 1.58x | 1.31x | 1.32x | 1.13x | 1.17x | 2.90x | 3.99x | 1.61x | 0.42x | 0.04x | 3.20x |
| Asset Growth % | -41.94% | -3.76% | -21.19% | -9.86% | -32.55% | 15.82% | 275.52% | 106% | -41.36% | -21.52% | -0.42% | 11511.55% | - |
| Total Current Liabilities | 220.56M | 101.52M | 101M | 110.98M | 98.13M | 142.01M | 132.21M | 86.86M | 48.58M | 1.8M | 1.88M | 199K | 1.83M |
| Accounts Payable | 39.72M | 40.31M | 40.64M | 49.83M | 46.44M | 79.75M | 69.59M | 50.24M | 24.83M | 21.13M | 199K | 58K | 228.48K |
| Days Payables Outstanding | 59.41 | 52.52 | 48.36 | 53.7 | 46.43 | 67.5 | 73.98 | 76.6 | 52.33 | 68.96 | 1.65 | 4.75 | 31.02 |
| Short-Term Debt | 135.08M | 0 | 0 | 2.13M | 0 | 2.3M | 2M | 0 | 0 | 600K | 0 | 0 | 1.11M |
| Deferred Revenue (Current) | 17.61M | 5.28M | 6.41M | 5.72M | 4.45M | 10.85M | 6.25M | 6.26M | 7.52M | 0 | -351K | -1.36M | 0 |
| Other Current Liabilities | 2.92M | 18.4M | 18.77M | 17.36M | 9.08M | 16.05M | 22.98M | 10.62M | 13.5M | -359K | 0 | 0 | 25K |
| Current Ratio | 0.47x | 1.35x | 1.25x | 1.28x | 1.65x | 1.62x | 1.73x | 1.31x | 0.98x | 0.13x | 0.15x | 5.92x | 0.71x |
| Quick Ratio | 0.22x | 0.76x | 0.69x | 0.68x | 0.90x | 0.92x | 1.24x | 0.77x | 0.51x | -7.28x | -2.70x | 4.00x | 0.38x |
| Cash Conversion Cycle | 44.32 | 57.43 | 44.04 | 45.4 | 48.76 | 28.81 | 12.27 | 20.47 | 9.1 | -17.66 | - | - | 88.87 |
| Total Non-Current Liabilities | 92.89M | 224.41M | 186.63M | 164.04M | 160.03M | 353.92M | 354.98M | 89.4M | 25.14M | 4M | 4.66M | 4.66M | 0 |
| Long-Term Debt | 0 | 111.31M | 55.39M | 26.91M | 23.66M | 94.11M | 41.41M | 35.4M | 21.41M | 8M | 24K | 0 | 0 |
| Capital Lease Obligations | 293.13M | 75.62M | 87.07M | 109.09M | 115.6M | 81.16M | 48.94M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 21.58M | 37.48M | 44.17M | 28.03M | 20.78M | 178.64M | 264.64M | 54M | 3.73M | 2.37M | 4.63M | 4.66M | 0 |
| Total Liabilities | 313.45M | 325.93M | 287.64M | 275.02M | 258.16M | 495.93M | 487.19M | 176.26M | 73.72M | 5.8M | 6.53M | 4.86M | 1.83M |
| Total Debt | 222.46M | 204.29M | 158.13M | 152.97M | 152.96M | 184.62M | 95.58M | 35.4M | 21.44M | 600K | 375K | 1.16M | 1.11M |
| Net Debt | 194.12M | 179.94M | 129.12M | 126.12M | 112.91M | 93.01M | -27.37M | 1.92M | 9.21M | 380K | 138K | 110.66K | 853.3K |
| Debt / Equity | -3.41x | - | 7.82x | 1.32x | 0.87x | 1.26x | 1.42x | - | - | 0.01x | 0.00x | 0.01x | - |
| Debt / EBITDA | -68.68x | - | - | - | - | - | 1.21x | 1.72x | - | - | - | - | 1.42x |
| Net Debt / EBITDA | -59.93x | - | - | - | - | - | -0.35x | 0.09x | - | - | - | - | 1.09x |
| Interest Coverage | -0.18x | -0.78x | -4.60x | -60.62x | 35.06x | 2.42x | -57.77x | -4.89x | -4.25x | -107.88x | - | - | - |
| Total Equity | -65.17M | -29.67M | 20.21M | 115.61M | 175.17M | 146.54M | 67.54M | -28.54M | -2.01M | 116.48M | 149.29M | 151.62M | -478.1K |
| Equity Growth % | -5320.35% | -246.81% | -82.52% | -34% | 19.54% | 116.97% | 336.65% | -1319.19% | -101.73% | -21.98% | -1.53% | 31812.12% | - |
| Book Value per Share | -14.95 | -6.85 | 4.71 | 27.81 | 53.55 | 54.43 | 43.05 | -71.31 | -5.97 | 347.12 | 779.65 | 791.81 | -2.71 |
| Total Shareholders' Equity | -65.15M | -29.69M | 20.2M | 115.42M | 174.26M | 145.77M | 67.2M | -26.16M | -662K | 116.48M | 149.29M | 151.62M | -478.1K |
| Common Stock | 0 | 11K | 11K | 11K | 9K | 7K | 6K | 5K | 5K | 111.48M | 144.29M | 146.62M | 0 |
| Retained Earnings | -660.45M | -625.28M | -573.87M | -475.97M | -355.21M | -261.82M | -265.86M | -28.99M | -4.32M | -1.83M | -2.63M | -303K | -478.1K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -2.98M | -13.92M | -2.63M | -303K | 0 |
| Minority Interest | -23K | 18K | 11K | 185K | 908K | 768K | 344K | -2.38M | -1.35M | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying PRPL stock.
As of 2025, Purple Innovation, Inc. (PRPL) had total assets of $296.3M including $136.7M in current assets.
Purple Innovation, Inc. (PRPL) carries total debt of $204.3M, offset by $24.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Purple Innovation, Inc. (PRPL) has total shareholders' equity (book value) of $-29.7M ($-6.85 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Purple Innovation, Inc. (PRPL) reported a current ratio of 1.35x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Liquidity and solvency pressure
Metrics are mathematically derived from official filings.
Eroding Equity Base Signals Distress
As reported in recent financial statements, Purple Innovation's equity position has deteriorated from a positive $115.4 million in 2023Q4 to a negative $60.1 million by 2026Q1, reflecting a persistent trend of value destruction driven by recurring net losses and an inability to achieve operational scale.
The rapid transition into negative equity territory suggests that the company's capital base is being systematically depleted by ongoing operational deficits. Investors should monitor whether this trajectory necessitates a significant recapitalization event to address the widening gap between assets and liabilities.
Tight Cash Runway Limits Flexibility
Based on the latest quarterly filings, the company maintains a cash balance of $25.0 million, which, when viewed against the backdrop of persistent quarterly net losses, indicates a precarious liquidity buffer that leaves little room for error in managing working capital or unexpected operational shocks.
While the current ratio of 1.24 suggests a basic ability to cover short-term obligations, the absolute cash level remains dangerously low for a manufacturer with high fixed-cost requirements. This liquidity profile implies that the company may be forced to prioritize cash preservation over necessary growth-oriented investments.
Asset Base Reflects Manufacturing Overhang
According to historical balance sheet data, net PPE has declined from $224.4 million in 2023Q4 to $142.9 million in 2026Q1, suggesting that the company is either actively rationalizing its manufacturing footprint or experiencing significant depreciation that is not being offset by sufficient new capital investment.
The concentration of assets in specialized manufacturing equipment creates a rigid cost structure that is difficult to adjust during periods of low demand. This asset-heavy model appears to be a primary driver of the company's current operational deleverage, as the utilization of these assets remains below optimal levels.
Hidden Risks in Liability Composition
As evidenced by the provided data, total liabilities have remained elevated at $332.1 million in 2026Q1, consistently exceeding total assets and highlighting a structural imbalance that makes the company's long-term solvency highly dependent on a rapid and sustained improvement in operating cash flow.
The persistence of high liabilities relative to a shrinking asset base suggests that the company is carrying a significant debt burden that may limit its strategic options. Analysts should investigate the maturity profile of these obligations, as refinancing risks could become a critical factor if operational performance does not improve.