Purple Innovation, Inc.

Purple Innovation, Inc. (the “Company”), is unable to file its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2023 (the “2023 Third Quarter Form 10-Q”), by the prescribed date without unreasonable effort or expense, for the reasons described below. In October 2023, the Company determined that it had not properly accounted for the warranty terms specified in contracts with its wholesale customers when estimating the liability for warranty related returns. The Company is in the process of completing its evaluation of the error to determine whether the related impact is material to the results of operations or financial position for any prior annual or interim period. Due to the Company’s continued efforts in connection with the evaluation of the error to prior periods and the completion of the 2023 Third Quarter Form 10-Q to reflect such determination and complete its financial statement review process, including an evaluation of the Company’s related internal controls, the Company was not able to finalize the financial statements and related information for inclusion in the 2023 Third Quarter Form 10-Q by the prescribed due date. In accordance with Rule 12b-25 of the Securities Exchange Act of 1934, the Company will file its 2023 Third Quarter Form 10-Q no later than the fifth calendar day following the prescribed due date. 3

Purple Innovation, Inc. (the “Company”) is filing this Notification of Late Filing on Form 12b-25 with respect to its Annual Report on Form 10-K for the fiscal year ended December 31, 2022 (the “Form 10-K”). The Company has determined that it is unable to file its Form 10-K within the prescribed time period without unreasonable effort or expense for the reasons set forth below. Reasons for Delay The Company has determined that it is unable to file the Form 10-K within the prescribed time period without unreasonable effort or expense because it requires additional time to complete its financial statement preparation and review process. The Company uses a number of SaaS solutions in its financial reporting processes (such as inventory management and point of sales, among others). These service organizations provide annual evaluations over the effectiveness of their control environment, some of which are still outstanding or require additional follow up before the Company can finalize its assessment over internal controls. The Company expects to file its Form 10-K on or before Friday, March 31, 2023, which is within the fifteen-calendar day extension provided by Rule 12b-25. Preliminary Financial Results for the Fiscal Year ended December 31, 2022 The Company expects to report revenue of approximately $575.7 million for the fiscal year ended December 31, 2022 compared to revenue of $726.2 million for the fiscal year ended December 31, 2021. The Company expects to report net loss for the fiscal year ended December 31, 2022 of approximately $(89.9) million or $(1.10) per diluted share compared to net income of $3.9 million, or $(0.30) per diluted share for the fiscal year ended December 31, 2021. The foregoing figures are preliminary and unaudited and are prepared in accordance with U.S. generally accepted accounting principles

Purple Innovation, Inc.’s (the “Company”) Form 10-Q for the quarterly period ended March 31, 2021 (the “2021 First Quarter Form 10-Q”), was required to be filed on or before May 10, 2021. As disclosed in the Company’s Current Report on Form 8-K, filed with the SEC on April 30, 2021, the Audit Committee of the Board of Directors of the Company, after considering the recommendations of management, concluded that the Company’s previously issued audited financial statements as of and for the years ended December 31, 2020 and 2019 and previously issued unaudited financial statements for the periods ended September 30, 2020 and 2019, June 30, 2020 and 2019, and March 31, 2020 and 2019 (collectively, the “Non-Reliance Periods”) should not be relied upon due to required corrections related to the accounting for the Company’s warrants. In the past, the Company has accounted for certain warrants as equity. However, based on recent guidance the Company concluded that it has issued warrants that do not meet the conditions to be classified in equity and instead require liability classification under Accounting Standards Codification 815, Derivatives and Hedging. The Company filed a Form 10-K/A on May 10, 2021 to amend the Company’s Annual Report on Form 10-K for the year ended December 31, 2020 to restate the financial statement for the Non-Disclosure Periods. The Company is reviewing the impacts of the corrections on the Company’s unaudited financial statements for the quarterly period ended March 31, 2021. As a result of the foregoing, the Company was unable to provide complete financial results for the quarterly period ended March 31, 2021 by the required due date of May 10, 2021