Casper Sleep Files For IPO, To Seek Listing On NYSE Under Symbol 'CSPR'

Casper Sleep filed a form S-1 with the SEC as it seeks an initial public offering of its common stock. The company has applied to list its common stock on the New York Stock Exchange under the symbol "CSPR".

The filing stated: "We have achieved rapid growth, generating 45.5% net revenue CAGR from 2016 to 2018, and 20.3% year-over-year net revenue growth for the nine months ended September 30, 2019. We have also expanded our gross margin from 42.8% in 2016 to 44.1% in 2018 and to 50.7% for the three months ended September 30, 2019, while making significant long-term investments in human capital, research and development, brand-building, and distribution. Our continued investment in, and expansion of, the Casper brand, distribution, and product offerings will further increase opportunities to acquire new customers and expand relationships with our existing customer base. We believe we are creating a meaningful future customer asset. As of September 30, 2019, over 16% of customers who have purchased at least once since Casper's inception have made a repeat purchase, despite the fact that the traditional replacement cycle of many of our products is longer than Casper's existence...While we are proud of our accomplishments to date, we believe the most exciting opportunities for Casper's growth story lie ahead, and we intend to pursue the following strategies to help us achieve this growth."