Purple Innovation Inc. has announced that it received a notice from the Nasdaq Stock Market indicating the company is not in compliance with Nasdaq Listing Rule 5450(a)(1). The notice was issued because the closing bid price of Purple Innovation's common stock has remained below the $1.00 minimum requirement for 30 consecutive business days. The company has 180 calendar days, until May 4, 2026, to regain compliance by maintaining a closing bid price of at least $1.00 per share for ten consecutive business days. If it fails to do so, Purple Innovation may qualify for an additional 180-day compliance period by transferring to the Nasdaq Capital Market and meeting certain requirements. Failure to regain compliance could result in the company's stock being delisted from Nasdaq. Purple Innovation says it is actively monitoring the situation and considering options to address the deficiency.