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    Daniel Silverstein • UBS Group AG

    Daniel Silverstein is an Equity Research Analyst at UBS Securities LLC, specializing in coverage of consumer services and finance companies. Since joining UBS in September 2023, Silverstein has focused on detailed equity research, leveraging his prior experience as a research analyst at Credit Suisse from 2020 to 2023. He holds an MBA from the University of Rochester Simon Business School and is licensed through FINRA as a registered broker. His analyst performance has garnered recognition for thorough industry analysis, though his publicly available success rates or returns have not been independently disclosed.

    Daniel Silverstein's questions to Purple Innovation Inc (PRPL) leadership

    Daniel Silverstein's questions to Purple Innovation Inc (PRPL) leadership • Q1 2025

    Question

    Daniel Silverstein, on behalf of Michael Lasser at UBS, questioned the economic details of the Mattress Firm partnership, including its effect on wholesale margins, the applicability of the 35% incremental flow-through rate, and potential cooperative advertising synergies.

    Answer

    CEO Rob DeMartini confirmed the partnership is a 'good business for both' parties but declined to share specific customer margins, noting the arrangement with Sherwood was designed to take costs out of the system. He affirmed the 35% flow-through rate is applicable at a macro level and acknowledged that while there are opportunities for advertising efficiency, the immediate focus is on innovation and driving consumers to all retailers.

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    Daniel Silverstein's questions to Sleep Number Corp (SNBR) leadership

    Daniel Silverstein's questions to Sleep Number Corp (SNBR) leadership • Q1 2025

    Question

    Inquired about opportunities in marketing, including brand messaging and partnerships, and asked about the potential for strategic shifts like exploring wholesale distribution.

    Answer

    The company plans to improve marketing effectiveness through digital channels and a shift to benefits-focused messaging. All partnerships are being reviewed for optimization. Regarding wholesale or other strategic changes, the new CEO confirmed that "everything is on the table" but provided no specific details.

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    Daniel Silverstein's questions to Sleep Number Corp (SNBR) leadership • Q4 2024

    Question

    Daniel Silverstein from UBS asked for the 2025 industry demand outlook, the potential for more expense savings, and the minimum revenue level required to stay within the newly amended debt covenants.

    Answer

    CEO Shelly Ibach stated that pre-February industry forecasts called for a slight recovery in 2025, but recent weakness may temper that outlook. CFO Francis Lee confirmed the company has contingency plans for further cost reductions. Regarding covenants, Lee said the new terms provide an 'appropriate cushion,' and VP David Schwantes added that the required revenue would be lower than the previously discussed $1.7 billion due to the higher leverage multiple allowed.

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