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Casper Sleep (CSPR)

About Casper Casper believes everyone should sleep better. The Sleep Company has a full portfolio of obsessively engineered sleep products-including mattresses, pillows, bedding, and furniture-designed in-house by the Company's award-winning R&D team at Casper Labs in San Francisco. In addition to its e-commerce business, Casper owns and operates 59 Sleep Shops across North America and its products are available at a growing list of retailers.

Company profile

Ticker
CSPR
Exchange
Website
CEO
Philip A. Krim
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
SEC CIK
Subsidiaries
Casper Sleep Retail LLC • Casper Science LLC • Casper Sleep Limited • Casper Sleep SAS • Casper Sleep GmbH • Casper Sleep (UK) Limited ...
IRS number
463987647

CSPR stock data

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

15 Nov 21
1 Oct 22
31 Dec 22
Quarter (USD) Sep 21 Jun 21 Mar 21 Dec 20
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Annual (USD) Dec 20 Dec 19
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS
Cash burn rate (est.) Burn method: Change in cash Burn method: Operating income Burn method: FCF (opex + capex)
Last Q Avg 4Q Last Q Avg 4Q Last Q Avg 4Q
Cash on hand (at last report) 43.1M 43.1M 43.1M 43.1M 43.1M 43.1M
Cash burn (monthly) 2.19M 4.42M 8.42M 7.93M 976.67K 3.25M
Cash used (since last report) 26.33M 53.25M 101.45M 95.57M 11.77M 39.16M
Cash remaining 16.77M -10.14M -58.35M -52.46M 31.33M 3.95M
Runway (months of cash) 7.7 -2.3 -6.9 -6.6 32.1 1.2

Beta Read what these cash burn values mean

Date Owner Security Transaction Code Indirect 10b5-1 $Price #Shares $Value #Remaining
25 Jan 22 Dani Reiss Common Stock Sale back to company Dispose D Yes No 6.9 90,537 624.71K 0
25 Jan 22 Dani Reiss Common Stock Sale back to company Dispose D No No 6.9 43,518 300.27K 0
25 Jan 22 Dani Reiss Stock Option Common Stock Sale back to company Dispose D No No 15.9 60,000 954K 0
25 Jan 22 Dani Reiss Stock Option Common Stock Sale back to company Dispose D No No 15.9 25,000 397.5K 0
25 Jan 22 Karen Katz Common Stock Sale back to company Dispose D No No 6.9 40,012 276.08K 0
25 Jan 22 Karen Katz Stock Option Common Stock Sale back to company Dispose D No No 15.9 60,000 954K 0
25 Jan 22 Lerer Benjamin Common Stock Sale back to company Dispose D Yes No 6.9 1,291,937 8.91M 0
25 Jan 22 Lerer Benjamin Common Stock Sale back to company Dispose D No No 6.9 33,394 230.42K 0
25 Jan 22 Lazar Jack R Common Stock Sale back to company Dispose D No No 6.9 50,060 345.41K 0
25 Jan 22 Lazar Jack R Stock Option Common Stock Sale back to company Dispose D No No 15.9 60,000 954K 0
64.3% owned by funds/institutions
13F holders Current Prev Q Change
Total holders 105 72 +45.8%
Opened positions 56 13 +330.8%
Closed positions 23 28 -17.9%
Increased positions 20 20
Reduced positions 16 25 -36.0%
13F shares Current Prev Q Change
Total value 178.47M 102.14M +74.7%
Total shares 26.77M 22.82M +17.3%
Total puts 425.6K 101.3K +320.1%
Total calls 694.5K 105.1K +560.8%
Total put/call ratio 0.6 1.0 -36.4%
Largest owners Shares Value Change
NEA Management 6.23M $41.59M 0.0%
Norwest Venture Partners XII 1.94M $12.96M NEW
BLK Blackrock 1.89M $12.6M -5.1%
Glazer Capital 1.58M $10.53M NEW
Polar Asset Management Partners 1.38M $9.25M NEW
Vanguard 1.24M $8.3M +7.5%
Beryl Capital Management 1.16M $7.75M NEW
MNGPF Man 1.13M $7.54M NEW
Water Island Capital 631.39K $4.22M NEW
Crabel Capital Management 600.6K $4.01M NEW
Largest transactions Shares Bought/sold Change
Institutional Venture Partners XV 0 -2.42M EXIT
Institutional Venture Management XV 0 -2.42M EXIT
Norwest Venture Partners XII 1.94M +1.94M NEW
Penserra Capital Management 0 -1.82M EXIT
Glazer Capital 1.58M +1.58M NEW
Polar Asset Management Partners 1.38M +1.38M NEW
Susquehanna International 313.52K -1.16M -78.8%
Beryl Capital Management 1.16M +1.16M NEW
MNGPF Man 1.13M +1.13M NEW
Water Island Capital 631.39K +631.39K NEW

Financial report summary

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Risks
  • We do not intend to pay dividends on our common stock for the foreseeable future.
  • We are an emerging growth company, and we cannot be certain if the reduced disclosure requirements applicable to emerging growth companies will make our common stock less attractive to investors.
  • The obligations associated with being a public company involve significant expenses and require significant resources and management attention, which may divert from our business operations.
  • As a public reporting company, we are subject to rules and regulations established from time to time by the SEC regarding our internal control over financial reporting. If we fail to establish and maintain effective internal control over financial reporting and disclosure controls and procedures, we may not be able to accurately report our financial results, or report them in a timely manner.
  • Anti-takeover provisions in our governing documents and under Delaware law could make an acquisition of our company more difficult, limit attempts by our stockholders to replace or remove our current management, and limit the market price of our common stock.
  • Our Amended Charter provides that the Court of Chancery of the State of Delaware will be the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders' ability to obtain a favorable judicial forum for disputes with us or our directors, officers, or employees.
  • Our Amended Charter provides that the doctrine of "corporate opportunity" does not apply with respect to any officer, director or stockholder who is not employed by us or our subsidiaries.
  • Any acquisitions, partnerships or joint ventures that we enter into could disrupt our operations, and have a material adverse effect on our business, financial condition, and results of operations.
  • Future sales, or the perception of future sales, by us or stockholders in the public market could cause the market price for our common stock to decline. In addition, the issuance by us of additional shares of common stock or convertible securities could make it difficult for another company to acquire us, may dilute your ownership of us and could adversely affect our stock price.
  • An active trading market for our common stock may not be sustained.
  • If securities analysts do not publish research or reports about our Company, or if they issue unfavorable commentary about us or our industry or downgrade our common stock, the price of our common stock could decline.
  • If our operating and financial performance in any given period does not meet the guidance that we provide to the public, the market price of our common stock may decline.
Management Discussion
  • Revenue was $156.5 million for the three months ended September 30, 2021, an increase of $33.1 million, or 26.8%, compared to $123.5 million for the three months ended September 30, 2020. Revenue increased as a result of higher sales through our direct-to-consumer and retail partnership channels and the introduction of new products for the three months ended September 30, 2021. Direct-to-consumer revenue increased $6.6 million, or 7.4%, compared to the three months ended September 30, 2020, driven primarily by higher sales in our retail stores due to limited operations in the prior year. Sales to retail partners were up $26.4 million, or 78.6%, compared to the three months ended September 30, 2020. This increase was driven by revenue growth with our existing retail partners, the introduction of new retail partners compared to the comparable period in the prior year to end the quarter with more than 25 partners, and the expansion of our product offerings.

Content analysis

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