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Casper Reports First Quarter 2021 Results Cir.casper.com/news-and-events/news/news-details/2021/Casper-Reports-First-Quarter-2021-Results/default.aspx 05/13/2021 Record First Quarter Revenue of $ 127.7 million and First Quarter Gross Margin of 52.2 % 20 % YoY Growth in North America Revenue , Including 54 % YoY Growth in Retail Partnership Channel Company Raises Full Year 2021 Financial Outlook to Reflect Favorable Business Trends First Quarter 2021 Financial Highlights ( as compared to the quarter ended March 31 , 2020 ) • North America revenue increased 20.0 % to a first quarter record of $ 127.7 million ; o North America Direct - to - Consumer revenue , inclusive of Casper's 70 retail stores and e - commerce channel , increased 11.1 % to $ 93.2 million ; o North America Retail Partnership revenue increased 53.7 % to $ 34.4 million ; • Gross Profit increased $ 13.7 million or 25.9 % to $ 66.7 million with gross margin of 52.2 % , up 540 basis points ; • Net Loss improved $ 13.3 million or 38.5 % to $ 21.2 million ; Adjusted EBITDA loss improved by $ 12.3 million or 54 % to $ 10.6 million ; and • Cash and cash equivalents were $ 61.6 million at quarter end . ● Chief Executive Officer , Philip Krim , commented : " Casper delivered record first quarter financial results that exceeded our expectations , and that momentum has continued in the second quarter . Our third - party manufacturing model is enabling us to effectively navigate industry - wide supply chain challenges as we meet growing demand for our products . As a result , we continued outpacing the overall mattress industry , generating first quarter North American revenue growth of 20 % year - over - year , including 54 % growth in retail partnership revenue . Top - line growth , combined with our gross margin of over 52 % , resulted in a 26 % rise in gross profit and a meaningful improvement in Adjusted EBITDA , reinforcing our expectation that Casper will achieve Adjusted EBITDA profitability in the second half of 2021. " Mr. Krim continued , " In the second quarter , we continue to successfully execute on our three core strategic priorities including : expanding our product offering with the launch of our new Casper Cooling Collection , increasing brand awareness with the introduction of the new ' Love Your Tomorrow ' brand platform , and growing points of retail distribution . We continue to see strong demand signals across our business , and expect top - line growth to accelerate in the coming quarters and are raising our full year 2021 financial outlook to reflect these favorable trends . With the significant opportunities in front of us , we remain confident in our ability to achieve our growth and profitability goals , as we build on our recent progress to best position Casper for the future . " 1/12