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Expand chart
Data: Casper S-1 filing via Titan; Chart: Axios Visuals

High-tech mattress company Casper made clear it plans to go public on Friday by filing an S-1 with the SEC, which was full of interesting tidbits, including its plan to harness the "Sleep Economy" with the help of its “Sleep Arc.”

What's happening: Casper has helped open up a booming industry and raked in $312 million in the first nine months of 2019. However, its S-1 filing is raising some eyebrows.

Details: Most notable in the filing is the pronounced slowdown in growth since 2017, says Vincent Ning, director of research and operations at online investment advisor Titan.

  • "The extent of this deceleration is very concerning, and is far worse than anything we saw during the 2019 batch of unicorn IPOs."
  • "Despite that, the company provided little context around this slowdown in its financial disclosures. ... We expect this deceleration will be a central point of focus for investors during the roadshow."

Yes, but: Even though the company is still losing money — a characteristic Wall Street turned against in a major way in 2019 — Casper has begun to stem its losses and is losing less money as it grows, in contrast to companies like Uber and Lyft.

  • "However, this apparently came at the cost of a very meaningful revenue deceleration, which may cast doubt for some investors on whether Casper will ever be able to attain adequate operating leverage on it current model," Ning says in an email.

The bottom line: Perhaps the most attractive part of Casper is its gross margins, which "do appear healthy," rising above 50% in the third quarter, "and are on track to place Casper firmly in league with premium-tier Sleep Number territory."

Go deeper:

Go deeper

3 hours ago - Health

WHO: Not yet known whether Omicron leads to more severe disease

Photo illustration: Pavlo Gonchar/SOPA Images/LightRocket via Getty Images

The World Health Organization on Sunday said that it is not yet clear whether the newly discovered Omicron variant is more transmissible than other strains of the COVID-19 virus.

Why it matters: The agency's statement comes as the variant, discovered in South Africa, has already been detected in European and Asian countries.

8 hours ago - Health

Fauci: Omicron variant will "inevitably" be found in U.S.

Photo: Chip Somodevilla/Getty Images

Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, cautioned on Sunday that the COVID-19 Omicron variant will "inevitably" be found in the United States.

Driving the news: Fauci, Biden's chief medical adviser, told ABC's George Stephanopoulos on "This Week" that U.S. officials will meet with colleagues from South Africa later on Sunday to try to determine the severity of the cases, as countries scramble to learn more about the variant.

Updated 10 hours ago - Politics & Policy

Dems fear supply-chain blame

Illustration: Aïda Amer/Axios

As supply-chain kinks drive up prices and disrupt holiday shopping, Democrats are scrambling to show action and deflect blame.

Why it matters: With their party controlling both the White House and Capitol, vulnerable Democrats worry supply-chain snafus will hurt them in next year's midterms.