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Summary - Funding Rounds

Founding Date

1986
Mattress Firm is a subsidiary of Steinhoff International

Mattress Firm Income Statement

Annual

USDFY, 2013FY, 2014FY, 2015

Revenue

470.9m693.9m956.3m

Revenue growth, %

47%38%

Cost of goods sold

751.5m376.1m

Gross profit

(280.5m)580.1m

Gross profit Margin, %

(60%)61%

EBIT

96.9m97.7m143.7m

EBIT margin, %

21%14%15%

Interest expense

10.9m11.6m

Pre tax profit

86.1m12.1m

Income tax expense

33.2m5.5m

Net Income

52.9m44.3m64.5m

Quarterly

USDQ3, 2012Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q3, 2015Q2, 2015Q1, 2016Q2, 2016Q1, 2016

Revenue

74.7m326.2m333.5m410.0m464.3m699.5m661.1m562.6m980.0m839.4m

Cost of goods sold

110.1m200.3m212.7m246.5m281.3m434.8m403.6m361.3m625.5m573.6m

Gross profit

(35.4m)126.0m120.9m163.4m183.0m264.7m257.5m201.3m354.5m265.8m

Gross profit Margin, %

(47%)39%36%40%39%38%39%36%36%32%

Sales and marketing expense

41.4m74.6m75.7m100.0m109.6m168.3m169.1m131.9m246.4m204.0m

General and administrative expense

11.6m21.2m30.7m36.9m42.8m49.6m42.9m51.4m79.7m82.2m

Operating expense total

52.0m95.8m106.6m137.5m152.5m218.5m213.2m183.6m333.1m434.6m

EBIT

21.4m31.8m15.4m27.0m31.6m47.8m45.6m18.8m22.5m(167.7m)

EBIT margin, %

29%10%5%7%7%7%7%3%2%(20%)

Interest expense

8.5m2.5m2.8m3.5m4.1m10.2m10.0m10.3m24.7m23.8m

Interest income

1.0k

Pre tax profit

12.9m29.3m12.6m23.5m25.3m37.7m35.6m8.6m(2.2m)(191.5m)

Income tax expense

551.0k11.1m4.9m9.2m9.7m13.8m13.7m3.1m(408.0k)(72.8m)

Net Income

12.3m18.1m7.7m14.3m15.6m23.9m21.9m5.5m(1.8m)(118.7m)

Mattress Firm Balance Sheet

Annual

USDFY, 2013FY, 2015

Cash

22.9m1.8m

Accounts Receivable

20.8m64.9m

Inventories

81.5m161.2m

Current Assets

146.3m283.1m

PP&E

174.8m317.5m

Goodwill

366.6m826.7m

Total Assets

784.6m1.7b

Accounts Payable

72.2m164.7m

Current Liabilities

127.5m277.2m

Additional Paid-in Capital

373.2m447.4m

Retained Earnings

(45.0m)63.8m

Total Equity

328.5m511.5m

Financial Leverage

2.4 x3.3 x

Quarterly

USDQ3, 2012Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q3, 2015Q2, 2015Q1, 2016Q2, 2016Q1, 2016

Cash

27.5m15.2m11.7m18.1m4.9m10.3m10.6m11.0m13.6m1.1m

Accounts Receivable

15.4m31.4m26.0m36.5m54.7m51.3m54.6m67.3m78.7m68.2m

Prepaid Expenses

10.5m

Inventories

34.9m80.0m97.3m104.8m157.7m163.7m159.1m167.5m253.1m254.4m

Current Assets

88.3m149.8m166.1m190.9m257.0m286.9m282.2m301.7m472.1m400.4m

PP&E

86.8m164.2m192.5m199.8m236.0m310.1m296.8m279.6m455.9m508.5m

Goodwill

288.0m360.4m434.8m468.5m910.1m824.2m823.6m820.7m1.5b1.5b

Total Assets

559.9m771.6m898.1m964.8m1.6b1.7b1.6b1.6b2.5b2.5b

Accounts Payable

38.8m69.5m85.5m100.3m140.6m171.7m154.9m162.1m274.3m246.4m

Short-term debt

2.4m

Current Liabilities

73.7m154.1m149.0m195.7m260.3m298.4m299.6m288.8m513.3m447.3m

Long-term debt

226.5m

Total Debt

228.9m

Total Liabilities

558.6m455.5m556.3m605.5m1.1b1.2b1.2b1.2b2.1b2.0b

Common Stock

224.0k

Additional Paid-in Capital

156.3m369.4m378.7m382.0m429.2m445.3m442.9m440.4m516.0m512.9m

Retained Earnings

(155.2m)(53.7m)(37.3m)(23.0m)(7.4m)26.6m4.7m

Total Equity

1.4m316.1m341.8m359.3m422.2m496.1m469.9m445.5m477.2m477.4m

Debt to Equity Ratio

168.9 x

Debt to Assets Ratio

0.4 x

Financial Leverage

413.2 x2.4 x2.6 x2.7 x3.7 x3.3 x3.5 x3.7 x5.3 x5.3 x

Mattress Firm Cash Flow

Annual

USDFY, 2013FY, 2014FY, 2015

Net Income

52.9m44.3m

Depreciation and Amortization

29.5m41.7m

Accounts Receivable

6.2m(18.0m)

Inventories

(16.0m)(18.0m)

Accounts Payable

1.6m27.5m

Cash From Operating Activities

103.9m(9.4m)104.8m

Purchases of PP&E

(56.0m)(79.9m)

Cash From Investing Activities

(64.9m)(646.4m)

Cash From Financing Activities

(30.7m)532.2m

Quarterly

USDQ3, 2012Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q3, 2015Q2, 2015Q1, 2016Q2, 2016Q1, 2016

Net Income

17.0m18.1m7.7m14.3m15.6m51.2m27.4m5.5m(121.4m)(119.2m)

Depreciation and Amortization

13.0m45.1m28.7m14.0m

Accounts Receivable

(3.4m)352.0k(3.5m)(15.4m)

Inventories

(8.1m)(214.0k)4.4m(4.1m)

Accounts Payable

9.5m21.3m11.3m18.7m

Cash From Operating Activities

57.7m164.6m119.2m29.8m

Purchases of PP&E

(22.2m)(96.0m)(68.5m)(34.4m)

Cash From Investing Activities

(22.3m)(95.9m)(68.4m)(34.2m)

Long-term Borrowings

(51.2m)

Cash From Financing Activities

(12.3m)(71.9m)(53.6m)1.9m

Net Change in Cash

23.1m

Interest Paid

29.2m20.1m9.8m

Income Taxes Paid

18.5m6.0m4.7m

Mattress Firm Ratios

USDQ3, 2012

Debt/Equity

168.9 x

Debt/Assets

0.4 x

Financial Leverage

413.2 x

Mattress Firm Employee Rating

3.43186 votes
Culture & Values
3.2
Work/Life Balance
2.3
Senior Management
2.9
Salary & Benefits
3.2
Career Opportunities
3.2
Source