Warby Parker, Inc. Class A ( (WRBY) ) has released its Q4 earnings. Here is a breakdown of the information Warby Parker, Inc. Class A presented to its investors.
Warby Parker, Inc. is a direct-to-consumer lifestyle brand specializing in vision care, offering designer-quality eyewear and eye exams both online and through its retail stores across the U.S. and Canada.
The company reported a strong financial performance for the fourth quarter and full year 2024, with significant increases in net revenue and active customers. Despite a net loss, Warby Parker showed improved profitability metrics and operational efficiency.
Key highlights include a 15.2% increase in full-year net revenue to $771.3 million and a 17.8% rise in fourth-quarter net revenue to $190.6 million. The company also reported a 7.8% increase in active customers and a 6.8% rise in average revenue per customer. The adjusted EBITDA margin improved to 9.5% for the year, reflecting better cost management and operational discipline. Warby Parker opened 41 new stores in 2024, ending the year with 276 locations.
Looking ahead, Warby Parker is optimistic about 2025, projecting net revenue growth of 14% to 16% and planning to open 45 new stores, including partnerships with Target. The company aims to continue its trajectory of sustainable and profitable growth, leveraging its strong brand and expanding its market presence.