Q2 Financial Highlights:
- North America revenue increased 44.6% to an all-time quarterly record of $151.8 million
- North America Retail Partnership revenue increased 78.9% to $52.2 million
- Gross Profit increased $15.5 million or 27.1% to $72.5 million
- Cash and cash equivalents were $49.7 million on June 30, 2021
“We are pleased with our significant top-line growth, compared to both 2020 and 2019. Casper delivered all-time record quarterly revenue, reflecting continued demand for our innovative sleep products across our sales channels and the strength of the Casper brand. North America revenue growth of 45% year-over-year was driven by 79% revenue growth across our retail partnerships and 31% revenue growth across our DTC channel, representing 70% revenue growth compared to the second quarter of 2019. Our topline growth reflects the success of our new product offerings, the relevance of our omni-channel shopping experience and the staying and pricing power of our brand,” said Philip Krim, Casper’s Chief Executive Officer.
Casper’s recent partnerships have gained significant momentum in the market. Their initiatives to expand their brick-and-mortar footprint has allowed them to achieve over $52 million this quarter. The brand hopes to continue growing relationships with retail partners to expand their overall reach to consumers.
“In addition, our brand and products are supported by a growing list of top-tier retail partners, such as our recent partnership with Bed Bath & Beyond, as well as through Casper retail stores. As consumers’ shopping habits become increasingly bifurcated, we are confident that we can further leverage the growing appeal of our in-person shopping opportunities in combination with the convenience of our e-commerce platform,” Krim added.
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 addition to its e-commerce business, Casper owns and operates Sleep Shops across North America and its products are available at a growing list of retailers.