me and Financial John our Officer; Legg, everyone. you Chief Thank is and Phillips. Craig Chief afternoon on the today With call good Officer, Operating
be your we'll remarks, take prepared questions. our to Following happy
and line extend our responders our affected the how entire that of communities. this which the care we thanks the all required significant situation, COVID-XX continue ensuring of workers we front Purple in pandemic evolving Throughout supporting worked we operations first to facilities, changes our has from to sympathies everyone reconfiguring protective frequent express work ensure can of home, while employees temperature by essential the sanitation. providers', behalf our to health on have our diligently large-scale checks operate and and organization, to I including On want the safety equipment,
We have also give to find back. to sought ways
new even who approximately health $XXX,XXX our products and first of responders', facilities. supplies better created our and have X,XXX our partnered brands the discounts in truckers keep more and moving coalition relief than keep with XX% professionals in for care We raising April production in committing our homes. We made of net proceeds the for toward beds food
just of alike. And launched finally, and from a designed leveraging functionality successful and customers face and exceeds our pillows, employees Purple our bespoke guidelines many comfort our mask CDC we premium that to the bringing innovations
on to recent Now performance.
challenges entered revenue year-over-year business and sound the We another significant drive are results our created strong place which showed XXXX and to first very improvement lot quarter growth. with a momentum strategies adjusted year by of despite COVID-XX. with We of with pleased EBITDA in our in
combined year during involve the company of plans partner the opening an of with half wholesale Our expansion initial number in first robust including doors the primarily the channels acceleration DTC in showrooms. of additional
stores of largest The furniture period in & were And online selling online. highlighted we with weekend across and bringing in successful on February including first well states. Raymour Max retail the machine by the Northeast was President's quarter schedule several Flanigan, started March. at Xth a launch also partnership our Day retailer manufacturing our XXX with
of soon reported outbreak chain virus rapidly its was XXXX demand The outlined largely on number and When of the stages. in at U.S. that disruptions to in guidance concern changed the the for fourth quarter March results about the situation general related X, was altered the supply many cases impact early everyday from emergency reported requiring we COVID-XX significantly the to as most measures potential March the the of the and life and businesses at declaring for and and the companies. increased country XX virus home Americans across disrupted help spread national resulting individuals The quickly to commerce shelter President close states in nonessential thereafter. on many to a slow for
as Purple two was three not weeks California partner XX% the doors wholesale showrooms immune the with more of than along of last in company quarter. our our closed over
on necessities experienced home confinement. in to mid-March our weather digital needed consumers a food also stocked a slowdown other brief in up We as sales prolonged and
the to to and team practicing We the increasing well-being our from health distancing our and enabling reacted social distribution quickly centers. where environment of changing safeguard facilities in home and and employees sanitizing to work members, and manufacturing further action standards took immediately possible
force. At as of current the to allowing goods more our than vertically adjust advantage business model schedules took labor one-third time, as furloughing to cash well we production demand, our integrated convert to to of same back us temporarily match finished
board additional liquidity quarters entire our allow putting our in for all in and XXXX. deferring and expansion payment amending to preserve including showroom kind first and compensation and interest hold of took steps also agreement of on to executive We payment capacity second credit investments the
$XX.X revenues very a of million, gross to EBITDA adjusted XXX very increasing XXXX. improving million basis XX% in performed backdrop few the and well over Despite our QX difficult weeks over margins to March, last QX XX% business up points with $XXX.X
of got new the shift and toward on to quarter and our the much business capitalized we purchasing. majority As the digital online normal, second of the country accelerated have the our to pivoted resources underway adapted
of as pillows cushions mattresses During April, seat products ancillary in experienced online by led sheets. we dramatic well and a spike a our for demand as lineup
million sales stores traffic. were XXX% declines significant or either April steep the more of month compared with than April more wholesale still our closed majority up offsetting than orders XXXX, to DTC experienced partner remain decline the in the approximately year-over-year in For of $XX as
encouraging hand channel at the strong inventory the meaningful on our is that the or for March XX. contract cash the of That The we April, increase a challenges $XX.X XX partner in wholesale our us retail. which actions to April weekly increase majority in along DTC of work million and cash portion in under physical cash XXX% to our to started in and demand terms generate wholesale we and the sequential cash through a facing an said, of had sign have end a despite increased on orders existing allowed remains $XX.X brand million preservation collection amount of orders substantial receivables basis, at an compared with with million see March $XX.X at wholesale equivalents the of
for with the majority the personnel addition is are our on our along of machine later Max demand which To will mattress accelerated our Max manufacturing DTC X track X X corporate our in meet recently Max higher-than-expected and capacity the year-over-year XX%. furlough overall work May. for The increase launch we ended and by our on of have experiencing, employees we approximately temporary completing
are stock of week, prepare levels our this Day promotional Memorial full the and As at facilities as for we period. we upcoming operating rebuild current capacity,
our very underscores pleased with the and strength exhibited the the for shopping on purple.com. work are reflects we experience business, the enhancing and We being affinity we've done believe awareness DTC products by growing branded our which
cautiously about retail surrounding uncertainty are and the as planning growth prospects we accordingly. near-term well overall certain of cognizant are are we optimistic as economy, the While
on with previously are facility given East moving example, the mentioned recent as and on we strength, stabilize. For negotiations while see we expansion capacity forward to to new ready as be we Coast manufacturing the our business move a postponed trends quickly continue we'll
effectiveness thoughts time, some do the on While at our outlook want brand and of with to we share product retailing, this Starting are organizational not product I providing key development. initiatives, an omni-channel updated status innovation. innovation,
seen new our Harmony and foundation, significant growth of our our have our innovative protector. our newly from launched end We upgraded platform the year in upgraded Pillow, last including premium products base
any unique We also that adjustable our updated sleeping finally height this make with Pillow position. original boosters pillow just for Purple
the brings home, we seen significant which from With omni-channel people more in share of beginning our year for to our as the doubled of increase since nearly well also demand we our cushions total, In time spending the have us non-mattress innovative seen seat bedding. as business have retailing. products, at
which year. We of made site improving progress last site commerce beginning in continued the this merchandising year, has capabilities significant our and into
this especially new much signals, to For the how more larger incredibly and our the cushions, offers, structure we example site and pivot agile demonstrates and new continues site content demand progress later with which are non-mattress the and really seat re-platforming in able year. merchandising becoming. was And planned and launch we mature of team for products, for identified bundles be quickly, redesigning the is including building still to initiative
COVID-XX. For prior continue see our to showrooms, owned-retail performance strong to we
half back headquarters, sales than Utah is and of promising seen drop our shelter-at-home a the a consistent that Utah following starting as in Somewhat nation through factory of outlet swept upswing mid-March. the in in our we have across April more XX% in in showroom
on sheets, throughout last of ahead curve showroom them our launder regularly dispenser placing for were these on fortunately sanitizing the have measures mattresses having customer We stations that and displayed believe cleanliness, focus helped using year. launched We each maintain which confidence. example our we with late
attractive While we additional this we have will showrooms opportunities crisis, year. the later paused any expect for showroom that there expansion be during
focus As be effectiveness, incredible this to given organizational an our important continues to growth.
expanding as productivity continue maintain more over sales doing everything X,XXX business We of have and and able revenue assess as to them working mid can we majority the furloughed in from we single-digit employees center, the to offset contact have able of environments manufacturing And as into we to sales we retrain our maintaining employees nearly in to resourcefulness we the team, commerce to of than in Most into have where work-from-home a processes they provide we new been the work employees example were drive importantly, that XXX% percentage now showrooms. move and clean our roles mature. alongside those while been safe showroom facilities. our continue and an who the to them efficiencies able chat G&A environment, expanded range lost to the for as of warehousing this improve
team, development, as incredible brand and recently hiring talent as retention. our flesh with side well the out continued of on to Finally acquisition we the new some have creative VP adding
Polymer to evolve unique technology as continue and the that We Purple Hyper-Elastic products well Grid and of brand premium our the onto as of our nature the the provide. benefits focus
the review to it financials will who in now I'll over turn detail. more Craig
