Warby Parker, Inc. Class A ( (WRBY) ) has released its Q3 earnings. Here is a breakdown of the information Warby Parker, Inc. Class A presented to its investors.
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Warby Parker, Inc. is a direct-to-consumer lifestyle brand specializing in eyewear, offering products like designer prescription glasses and contact lenses, as well as eye exams, through its retail stores and online platform.
In its third-quarter earnings report for 2024, Warby Parker announced a 13.3% increase in net revenue year-over-year, reaching $192.4 million. The company also reported a rise in active customers and average revenue per customer, alongside a modest net loss improvement.
Key financial highlights include a 5.6% increase in active customers, reaching 2.43 million, and a 7.5% rise in average revenue per customer to $305. Despite a GAAP net loss of $4.1 million, the company improved its adjusted EBITDA margin to 9.0%. Additionally, Warby Parker opened 13 new stores, bringing its total to 269. The company’s cash flow from operations was a solid $27.3 million, with a free cash flow of $13.1 million.
Looking forward, Warby Parker has raised its full-year guidance, projecting net revenue between $765 million and $768 million, indicating a growth of 14% to 15% compared to 2023. The company plans to open 40 new stores by the end of the year, setting a positive outlook for 2025 as they focus on market expansion and profitability improvement.
