Although the company hasn’t disclosed the precise number of shares it intends to float, the filing states that it intends to raise $100 million in the offering, a common placeholder value.
Touting more than 1.4 million customers who have bought one or more of the company’s 27 sleep products, the company says that as of the end of Q3 2019, more than 16 percent of people who already own at least one Casper product since the company’s inception have made a repeat purchase.
Casper reported net revenue of $312.3 million for the first nine months of 2019, up 20.3 percent from $259.7 million for the same period a year prior.
The company also reported losses of $67.4 million for the first three quarters ended September 2019–up about 5 percent from the same period in 2018.
Casper disclosed that entities affiliated with IVP (an investor since Series B), NEA (lead investor in Casper’s Series A), and Red Cart Ventures (the corporate investment arm of Target, which led its Series C round) each hold greater than 5 percent of outstanding shares.