Purple Innovation receives Nasdaq delisting notice over market value

Purple Innovation, Inc. (NASDAQ: PRPL) received a notification from The Nasdaq Stock Market LLC on September 30, 2026, indicating that the company failed to meet continued listing standards for the Nasdaq Global Select Market. The Listing Qualifications Department of Nasdaq informed the company that its Market Value of Publicly Held Shares (MVPHS) remained below the required minimum for the preceding 30 consecutive business days. This noncompliance is attributed to Nasdaq Listing Rules 5450(b)(2)(C) and 5450(b)(3)(C), which mandate a minimum MVPHS of $15 million.

The notification does not result in an immediate change to the listing or trading of Purple Innovation's Class A common stock. Under Nasdaq Listing Rule 5810(c)(3)(D), the company is granted a Compliance Period of 180 calendar days from the date of the notification to restore compliance. The source document identifies the Compliance Date as March 29, 2026. To regain compliance within this window, the company's MVPHS must close at $15 million or higher for a minimum of ten consecutive business days.

If Purple Innovation fails to meet this threshold by the Compliance Date, Nasdaq will issue a notice that its securities are subject to delisting. In such an event, the company retains the right to appeal the delisting determination to a hearing's panel, although the filing notes there is no assurance that any such appeal would be successful. As an alternative to appealing, the company may consider applying for a transfer to the Nasdaq Capital Market, contingent upon meeting all continued listing requirements for that specific tier.

Purple Innovation is incorporated in Delaware and maintains its principal executive offices at 4100 North Chapel Ridge Rd., Suite 200, Lehi, Utah. The Form 8-K was signed by Robert G. Lucian, Chief Financial Officer, on October 5, 2026. The company is not designated as an emerging growth company in the filing.