Serta Simmons Bedding had some big news to share at the recent Las Vegas Market, and it wasn’t all about the extensive product introductions the company rolled out.
The bedding major took the unusual step of releasing a financial update along with news on its new product launches, which included major introductions for the Serta, Beautyrest and Simmons brands.
SSB said it is “building on strong 2025 business momentum to drive continued success in the new year.”
SSB’s market release featured key details of the company’s recent financial performance. It is the first time that privately held SSB has released financial data in recent years.
“Our performance through Q3 2025 reflects the strength of our strategy and the discipline of our execution,” said Jim Loree, CEO of SSB since 2024. “As of the third quarter of 2025, we delivered more than $100 million in adjusted EBITDA through the last 12 months, with EBITDA margins averaging approximately 8% of net sales, while our gross margin expanded to roughly 40% – a clear signal that the quality of our revenue continues to improve.”
Loree added that, excluding Mattress Firm and Big Lots, SSB was up 5% in net sales, “building strong momentum through the end of Q3. That growth is built on a foundation of operational rigor; we’ve become a leaner, more focused organization, reducing SG&A by 350 basis points since 2024 through smarter resource allocation and more effective use of capital.”
SSB said that at the end of the third quarter of 2025, the last quarter for which it has figures, SSB had $125 million in cash on-hand and $160 million in total liquidity.
“We have the financial flexibility to continue investing in innovation and our retail partners,” Loree said in SSB’s market release. “Since 2023, we’ve sharpened our focus on those relationships and we have added more than 100 new retail accounts in the last 18 months, reinforcing our position as a trusted, long-term growth partner across the industry.”
SSB officials expanded on those points at the Las Vegas Market, which the company described as a successful and well-attended market for its brands.
“We are a profitable and thriving business,” Cesar Perez, SSB’s chief financial officer told Bedding News Now. “We have the resources we need to fund our business and grow our business. In addition to being profitable, we are generating cash flow. With that cash flow, we are investing in our network, in new products and technology and growth. We are maintaining a national footprint and improving our operational efficiency and our services.”
He said SSB is now in a position to consider acquisitions.
With its “solid foundation,” its strong cash position and its “high-caliber leadership team,” SSB is now “in position to explore and consider merger and acquisition opportunities,” Perez said. “The industry is ripe for consolidation. And we will be a player in that.”
Industry analysts who met with SSB executives at market weighed in with their assessment of how the company is faring.
“We held a meeting with the broader SSB management team and continue to believe the company is operating at a much higher level (compared to four years ago) when it comes to the product offering, marketing, quality control and timeliness of deliveries,” said Peter Keith, senior research analyst for Piper Sandler in his report on the Las Vegas Market.
He added: “SSB noted EBITDA grew nicely in 2025. In 2026, the company is expecting to hold EBITDA steady when factoring in the lost Serta business at Mattress Firm.”
In his market report, Keith Hughes of Truist Securities noted that the $100 million in EBITDA with an 8% margin “implies revenue of about $1.2 billion. We suspect the run rate is somewhat lower as they anniversary loss of business at Mattress Firm and Big Lots, but they remain profitable.”
He said the “next hurdle” SSB will face would be the Somnigroup International/Leggett & Platt combination. L&P is a supplier to SSB, but SSB has said it has diversified its supply chain and the loss of L&P would not have a material impact on SSB. “We believe that the company (SSB) could backward integrate fully into springs, albeit with some cost and short-term disruption if L&P capacity moves totally in house,” Hughes wrote.
