CORPORATE FINANCIAL REPORTS 3-16-20

The following are recent financial reports as posted by selected Utah corporations:

Purple Innovation 

Purple Innovation Inc., based in Lehi, reported a net loss of $12.7 million, or 29 cents per share, for the fourth quarter ended Dec. 31. That compares with a loss of $5.4 million, or 12 cents per share, for the same quarter a year earlier.

The company said the 2019 fourth quarter included a $13.4 million non-cash loss associated with the change in fair value of warrant liabilities.{mprestriction ids="1,3"}

Revenue in the most recent quarter totaled $124.3 million, up from $78.5 million in the year-earlier quarter.

For the full year 2019, the company reported a net loss of $12.4 million, or 40 cents per share. That compares with a loss of $19.6 million, or 51 cents per share, in 2018. Revenue in 2019 was $428.4 million, up from

$285.8 million in 2018.

Purple designs and manufactures comfort products, including mattresses, pillows, cushions, frames and sheets.

“We delivered outstanding financial results in 2019 highlighted by revenue growth of 50 percent and a significant improvement in our balance sheet,” Joe Megibow, CEO, said in announcing the results. “The combination of our top-line performance, significant gross margin expansion and meaningful expense leverage fueled a dramatic improvement in operating profit compared with 2018.

“We believe our differentiated product offering and enhanced marketing programs are driving increased traffic to our e-commerce website, company operated showrooms and retail partner doors. At the same time, we believe the improvements we’ve made to our manufacturing, supply chain and fulfillment functions have created a foundation to support profitable growth. Overall, we have great momentum as 2020 gets underway and remain very excited about our growth prospects for the current year and beyond.”

SINTX

SINTX Technologies Inc., based in Salt Lake City, reported preliminary results that show a net loss from continuing operations of $3.08 per share for the year ended Dec. 31. That compares with a loss of $26.57 per share for 2018.

Revenue for 2019 totaled $700,000, up from $100,000 in 2018.

The company is an original equipment manufacturer ceramics company that develops and commercializes silicon nitride.

“In 2019, SINTX transitioned from a spine implant manufacturer and seller to a technical ceramic materials company, with the goal of identifying new markets for its silicon nitride,” B. Sonny Bal, chairman and CEO, said in announcing the results. “We were well-positioned to do so because of our established knowledge equity, and because of the superior quality of our material platform.”{/mprestriction}