Purple Revenue Growth Strategy
Historical Balance Sheet
($ in 000's)
Current Assets:
2019
Restated
2020
Restated
1Q '21
Cash and cash equivalents
$ 33,478
Accounts receivable, net
28,692
Inventories, net
47,628
$122,955
29,111
65,726
$103,815
41,618
63,282
Prepaid inventory
879
Other current assets
3,442
826
10,453
1,337
Total current assets
$114,119
$229,071
7,772
$217,824
Property and equipment, net
31,979
61,486
73,831
Operating lease right-of-use assets
41,408
52,972
Intangible assets, net
Deferred income taxes
1,101
9,945
10,251
Other long-term assets
Total assets
Current Liabilities:
Accounts payable
Accrued sales returns
Accrued compensation
Customer prepayments
Accrued sales tax
Accrued rebates and allowances
Other current liabilities
Total current liabilities
Long-term debt
525
$147,724
211,244
1,578
$554,732
210,380
1,510
$566,768
50,240
69,594
60,269
7,271
8,428
8,280
7,954
14,209
9,774
6,258
6,253
7,901
5,602
6,015
3,930
5,311
10,891
5,564
Operating lease obligations-current portion
3,235
3,632
4,229
13,583
15,318
$ 86,865
$132,208
$114,668
Long-term debt, related-party
35,399
41,410
40,906
Operating lease obligations, net of current portion
Warrant liabilities
48,936
60,948
45,430
92,708
19,415
Tax receivable agreement liability, net of current portion
Other long-term liabilities, net of current portion
165,426
$ 8,570
$ 6,503
$176,264
$487,191
166,029
$ 7,261
$409,227
purple
Total liabilities
Shareholders' equity (deficit):
Class A common stock
Class B common stock
Additional paid-in capital
Accumulated deficit
Total stockholder's equity (deficit)
Noncontrolling interest
Total equity (deficit)
Total liabilities and equity (deficit)
2,822
(28,989)
$(26,162)
6
7
2
3
333,047
(265,856)
401,842
(245,032)
(2,378)
$ 67,197
344
$156,817
724
$(28,540)
$147,724
$157,541
$ 67,541
$554,732
$566,768
NOTE: Restatements are a result of reclassifying certain warrants as expenses instead of equity due to the SEC's recent statement regarding how warrants issued in or after a SPAC
company IPOs should be viewed for purposes of classification.
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