SleepyCat reports Rs 98 Cr revenue and Rs 9 Cr loss in FY25

SleepyCat posted strong growth in the fiscal year ended March 2025, with its operating revenue nearing Rs 100 crore. At the same time, the direct to consumer mattress brand kept its losses in single digits.

SleepyCat’s revenue from operations rose 44% to Rs 98 crore in FY25 from Rs 68 crore in FY24, according to its financial statements sourced from the Registrar of Companies (RoC).

SleepyCat operates a direct-to-consumer model focused on selling mattresses and sleep accessories primarily through its online channels.

The company generated most of its revenue from the sale of finished goods, which contributed 89% of the total and increased 39% to Rs 87 crore in FY25. Revenue from the sale of traded goods nearly doubled to Rs 9.8 crore during the year.

On the spending side, the cost of material accounted for half of its total cost, this expense climbed 52% to Rs 54 crore in FY25 from Rs 35.6 crore in FY24. Advertisement expenses increased 46% to Rs 14.6 crore, while commission expenses grew 41% to Rs 11 crore. Delivery and logistics expenses rose sharply by 56% to Rs 8.6 crore.

Employee benefit expenses rose 11% to Rs 10 crore in FY25 from Rs 9 crore in FY24. Overall, SleepyCat’s total expenses expanded 44% to Rs 108.5 crore in FY25 from Rs 75.5 crore in FY24.

Along with the increase in its scale, the company’s loss increased by 29% to Rs 9 crore in FY25 from Rs 7 crore in FY24. The company posted an EBITDA loss of Rs 9.6 crore in FY25 compared to Rs 6.7 crore in the previous year, while its EBITDA margin remained largely flat at -9.80%. 

On a unit basis, the company spent Rs 1.11 to earn a rupee during the fiscal year, unchanged from FY24. The Bengaluru-based firm reported cash and bank balances of Rs 3 crore at the end of FY25, while its current assets stood at Rs 18.6 crore.

SleepyCat has raised around $5 million of funding till date, having DSG Consumer Partners as its lead investor. SleepyCat’s competitor, The Sleep Company’s revenue increased by 60% to Rs 499 crore in FY25 from Rs 312 crore in FY24. The company also narrowed its EBITDA losses to Rs 39 crore in the period. Meanwhile, sector heavyweight Wakefit made a muted debut on the stock exchanges, with its shares listing flat to marginally below the IPO issue price. It recorded Rs 421 crore in revenue from operations in Q3 FY26 while its profit stood at Rs 34 crore.