What is Warby Parker Inc's earnings per share (EPS)?

Warby Parker Inc (WRBY) reported diluted earnings per share of $0.01 for fiscal year 2025. This represents a 105.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Warby Parker Inc Financials

WRBY

Source SEC Filings (10-K/10-Q) Updated Dec 31, 2025 Currency USD FYE December

This page shows Warby Parker Inc (WRBY) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 42/100

Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Warby Parker Inc has an operating margin of -0.6%, meaning the company retains $-1 of operating profit per $100 of revenue. This below-average margin results in a low score of 21/100, suggesting thin profitability after operating expenses. This is up from -3.9% the prior year.

Growth

Warby Parker Inc's revenue grew 13.0% year-over-year to $871.9M, a solid pace of expansion. This earns a growth score of 55/100.

Leverage

Warby Parker Inc carries a low D/E ratio of 0.96, meaning only $0.96 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 82/100, indicating a strong balance sheet with room for future borrowing.

Liquidity

Warby Parker Inc's current ratio of 2.35 indicates adequate short-term liquidity, earning a score of 44/100. The company can meet its near-term obligations, though with limited headroom.

Cash Flow

Warby Parker Inc has a free cash flow margin of 5.0%, earning a moderate score of 38/100. The company generates positive cash flow after capital investments, but with room for improvement.

Returns

Warby Parker Inc generates a 0.4% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 12/100. This is up from -6.0% the prior year.

Piotroski F-Score Neutral

5/9

Warby Parker Inc passes 5 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Cash-Backed

67.51x

For every $1 of reported earnings, Warby Parker Inc generates $67.51 in operating cash flow ($110.8M OCF vs $1.6M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Key Financial Metrics

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Earnings & Revenue

Revenue

$871.9M

YoY+13.0%

5Y CAGR+17.2%

Warby Parker Inc generated $871.9M in revenue in fiscal year 2025. This represents an increase of 13.0% from the prior year.

EBITDA

$44.9M

YoY+185.3%

Warby Parker Inc's EBITDA was $44.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 185.3% from the prior year.

Net Income

$1.6M

YoY+108.0%

Warby Parker Inc reported $1.6M in net income in fiscal year 2025. This represents an increase of 108.0% from the prior year.

EPS (Diluted)

$0.01

YoY+105.9%

Warby Parker Inc earned $0.01 per diluted share (EPS) in fiscal year 2025. This represents an increase of 105.9% from the prior year.

Cash & Balance Sheet

Free Cash Flow

$43.7M

YoY+26.0%

5Y CAGR+28.1%

Warby Parker Inc generated $43.7M in free cash flow in fiscal year 2025, representing cash available after capex. This represents an increase of 26.0% from the prior year.

Cash & Debt

$286.4M

YoY+12.7%

5Y CAGR-1.8%

Warby Parker Inc held $286.4M in cash against $0 in long-term debt as of fiscal year 2025.

Dividends Per Share

N/A

Shares Outstanding

N/A

Margins & Returns

Gross Margin

54.0%

YoY-1.4pp

5Y CAGR-4.9pp

Warby Parker Inc's gross margin was 54.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 1.4 percentage points from the prior year.

Operating Margin

-0.6%

YoY+3.3pp

5Y CAGR+13.5pp

Warby Parker Inc's operating margin was -0.6% in fiscal year 2025, reflecting core business profitability. This is up 3.3 percentage points from the prior year.

Net Margin

0.2%

YoY+2.8pp

5Y CAGR+14.4pp

Warby Parker Inc's net profit margin was 0.2% in fiscal year 2025, showing the share of revenue converted to profit. This is up 2.8 percentage points from the prior year.

Return on Equity

0.4%

YoY+6.5pp

Warby Parker Inc's ROE was 0.4% in fiscal year 2025, measuring profit generated per dollar of shareholder equity. This is up 6.5 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$67.0M

YoY+4.7%

5Y CAGR+27.3%

Warby Parker Inc invested $67.0M in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 4.7% from the prior year.

WRBY Income Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Revenue	$871.9M+13.0%	$771.3M+15.2%	$669.8M+12.0%	$598.1M+10.6%	$540.8M+37.4%	$393.7M
Cost of Revenue	$401.3M+16.5%	$344.5M+13.1%	$304.5M+18.5%	$257.1M+15.2%	$223.0M+37.9%	$161.8M
Gross Profit	$470.6M+10.2%	$426.8M+16.9%	$365.2M+7.1%	$341.1M+7.3%	$317.7M+37.0%	$231.9M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$475.9M+4.2%	$456.9M+4.5%	$437.2M-3.3%	$452.3M-2.0%	$461.4M+60.5%	$287.6M
Operating Income	-$5.3M+82.3%	-$30.1M+58.2%	-$72.0M+35.3%	-$111.2M+22.6%	-$143.7M-158.2%	-$55.6M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$1.4M+60.2%	$875K+102.1%	$433K-12.9%	$497K+89.0%	$263K+38.4%	$190K
Net Income	$1.6M+108.0%	-$20.4M+67.7%	-$63.2M+42.8%	-$110.4M+23.5%	-$144.3M-158.0%	-$55.9M
EPS (Diluted)	$0.01+105.9%	$-0.17+68.5%	$-0.54+43.7%	$-0.96+56.6%	$-2.21-110.5%	$-1.05

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Revenue	$212.0M-4.4%	$221.7M+3.4%	$214.5M-4.2%	$223.8M+17.4%	$190.6M-0.9%	$192.4M+2.2%	$188.2M-5.9%	$200.0M
Cost of Revenue	$100.9M-0.8%	$101.7M+0.9%	$100.9M+3.1%	$97.8M+11.8%	$87.5M-0.1%	$87.6M+5.7%	$82.8M-4.3%	$86.5M
Gross Profit	$111.0M-7.4%	$119.9M+5.6%	$113.6M-9.8%	$126.0M+22.2%	$103.1M-1.7%	$104.9M-0.5%	$105.4M-7.1%	$113.5M
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$117.9M+1.3%	$116.4M-1.5%	$118.1M-4.4%	$123.5M+9.7%	$112.5M+1.0%	$111.5M-2.5%	$114.3M-3.6%	$118.6M
Operating Income	-$6.9M-291.9%	$3.6M+178.9%	-$4.5M-283.1%	$2.5M+126.2%	-$9.4M-42.4%	-$6.6M+26.2%	-$9.0M-74.7%	-$5.1M
Interest Expense	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Income Tax	$862K+789.6%	-$125K+84.2%	-$789K-154.3%	$1.5M+1463.4%	$93K-69.1%	$301K-19.3%	$373K+245.4%	$108K
Net Income	-$6.0M-201.3%	$5.9M+435.3%	-$1.8M-150.5%	$3.5M+150.5%	-$6.9M-68.9%	-$4.1M+39.8%	-$6.8M-152.4%	-$2.7M
EPS (Diluted)	N/A	$0.05+600.0%	$-0.01-133.3%	$0.03	N/A	$-0.03+50.0%	$-0.06-200.0%	$-0.02

WRBY Balance Sheet

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Total Assets	$720.9M+6.6%	$676.5M+16.6%	$580.3M+2.0%	$568.7M+29.1%	$440.6M-0.9%	$444.8M
Current Assets	$352.4M+8.1%	$326.0M+9.2%	$298.6M+1.4%	$294.6M-10.2%	$328.0M-8.9%	$359.9M
Cash & Equivalents	$286.4M+12.7%	$254.2M+17.2%	$216.9M+4.0%	$208.6M-18.7%	$256.4M-18.4%	$314.1M
Inventory	$44.5M-15.0%	$52.3M-15.9%	$62.2M-9.6%	$68.8M+20.6%	$57.1M+48.4%	$38.5M
Accounts Receivable	$3.3M+68.6%	$1.9M+9.5%	$1.8M+24.0%	$1.4M+44.7%	$992K+65.1%	$601K
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$353.2M+5.0%	$336.4M+20.8%	$278.5M-1.3%	$282.1M+82.4%	$154.6M-75.9%	$642.8M
Current Liabilities	$150.1M+15.2%	$130.4M+2.6%	$127.1M-1.9%	$129.6M+9.7%	$118.1M+12.1%	$105.3M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$367.7M+8.1%	$340.1M+12.7%	$301.8M+5.3%	$286.6M+0.2%	$286.0M+244.4%	-$198.1M
Retained Earnings	-$685.6M+0.2%	-$687.2M-3.1%	-$666.8M-10.5%	-$603.6M-22.4%	-$493.2M-51.6%	-$325.4M

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Total Assets	$720.9M+2.0%	$706.9M+0.7%	$701.9M+2.8%	$682.8M+0.9%	$676.5M+6.0%	$638.0M+3.2%	$618.2M+4.3%	$592.9M
Current Assets	$352.4M+2.4%	$344.1M-0.6%	$346.1M+4.7%	$330.6M+1.4%	$326.0M+1.5%	$321.2M+4.1%	$308.6M+4.2%	$296.1M
Cash & Equivalents	$286.4M+2.1%	$280.4M-2.1%	$286.4M+8.0%	$265.1M+4.3%	$254.2M+1.2%	$251.0M+5.5%	$238.0M+8.0%	$220.4M
Inventory	$44.5M-2.4%	$45.6M+5.4%	$43.3M-11.0%	$48.6M-7.1%	$52.3M-0.8%	$52.8M-1.1%	$53.3M-5.5%	$56.5M
Accounts Receivable	$3.3M+187.4%	$1.1M+0.4%	$1.1M-22.7%	$1.5M-24.4%	$1.9M+78.1%	$1.1M-9.5%	$1.2M+3.6%	$1.2M
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$353.2M+4.7%	$337.3M-0.9%	$340.4M+3.6%	$328.7M-2.3%	$336.4M+11.7%	$301.2M+4.3%	$288.8M+4.4%	$276.7M
Current Liabilities	$150.1M+13.7%	$132.1M-2.6%	$135.5M+10.5%	$122.6M-5.9%	$130.4M+0.2%	$130.1M+7.5%	$121.0M+2.1%	$118.5M
Long-Term Debt	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Equity	$367.7M-0.5%	$369.6M+2.3%	$361.5M+2.1%	$354.1M+4.1%	$340.1M+1.0%	$336.8M+2.2%	$329.4M+4.2%	$316.2M
Retained Earnings	-$685.6M-0.9%	-$679.6M+0.9%	-$685.5M-0.3%	-$683.7M+0.5%	-$687.2M-1.0%	-$680.3M-0.6%	-$676.3M-1.0%	-$669.5M

WRBY Cash Flow Statement

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$110.8M+12.2%	$98.7M+61.9%	$61.0M+488.1%	$10.4M+132.4%	-$32.0M-197.7%	$32.8M
Capital Expenditures	$67.0M+4.7%	$64.0M+19.3%	$53.7M-10.8%	$60.2M+24.1%	$48.5M+141.7%	$20.1M
Free Cash Flow	$43.7M+26.0%	$34.7M+374.2%	$7.3M+114.7%	-$49.8M+38.1%	-$80.5M-734.5%	$12.7M
Investing Cash Flow	-$67.0M-1.5%	-$66.0M-20.8%	-$54.7M+9.2%	-$60.2M-24.1%	-$48.5M-141.7%	-$20.1M
Financing Cash Flow	-$12.0M-341.9%	$5.0M+72.7%	$2.9M-12.8%	$3.3M-85.7%	$23.0M-90.6%	$245.9M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$0	$0-100.0%	$8.1M	$0

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Operating Cash Flow	$23.3M+29.4%	$18.0M-55.3%	$40.2M+36.9%	$29.4M+47.4%	$19.9M-27.0%	$27.3M-13.7%	$31.6M+58.7%	$19.9M
Capital Expenditures	$15.1M-22.4%	$19.5M+19.7%	$16.3M+0.8%	$16.2M-8.9%	$17.7M+24.6%	$14.2M-19.4%	$17.7M+22.3%	$14.4M
Free Cash Flow	$8.1M+636.5%	-$1.5M-106.3%	$23.9M+81.1%	$13.2M+502.7%	$2.2M-83.2%	$13.1M-6.5%	$14.0M+154.5%	$5.5M
Investing Cash Flow	-$15.1M+22.4%	-$19.5M-19.7%	-$16.3M-0.8%	-$16.2M+8.9%	-$17.7M-24.6%	-$14.2M+19.4%	-$17.7M-7.4%	-$16.4M
Financing Cash Flow	-$2.3M+49.8%	-$4.6M-66.2%	-$2.8M-20.5%	-$2.3M-291.0%	$1.2M+2463.8%	$47K-98.7%	$3.6M+3873.6%	$91K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

WRBY Financial Ratios

Metric	FY25	FY24	FY23	FY22	FY21	FY20
Gross Margin	54.0%-1.4pp	55.3%+0.8pp	54.5%-2.5pp	57.0%-1.7pp	58.8%-0.1pp	58.9%
Operating Margin	-0.6%+3.3pp	-3.9%+6.9pp	-10.8%+7.8pp	-18.6%+8.0pp	-26.6%-12.4pp	-14.1%
Net Margin	0.2%+2.8pp	-2.6%+6.8pp	-9.4%+9.0pp	-18.5%+8.2pp	-26.7%-12.5pp	-14.2%
Return on Equity	0.4%+6.5pp	-6.0%+14.9pp	-20.9%+17.6pp	-38.5%+11.9pp	-50.4%	N/A
Return on Assets	0.2%+3.2pp	-3.0%+7.9pp	-10.9%+8.5pp	-19.4%+13.3pp	-32.7%-20.2pp	-12.6%
Current Ratio	2.35-0.2	2.50+0.2	2.35+0.1	2.27-0.5	2.78-0.6	3.42
Debt-to-Equity	0.96-0.0	0.99+0.1	0.92-0.1	0.98+0.4	0.54+3.8	-3.25
FCF Margin	5.0%+0.5pp	4.5%+3.4pp	1.1%+9.4pp	-8.3%+6.6pp	-14.9%-18.1pp	3.2%

Metric	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24
Gross Margin	52.4%-1.7pp	54.1%+1.1pp	53.0%-3.3pp	56.3%+2.2pp	54.1%-0.4pp	54.5%-1.5pp	56.0%-0.7pp	56.7%
Operating Margin	-3.2%-4.8pp	1.6%+3.7pp	-2.1%-3.2pp	1.1%+6.0pp	-4.9%-1.5pp	-3.4%+1.3pp	-4.8%-2.2pp	-2.6%
Net Margin	-2.8%-5.5pp	2.6%+3.5pp	-0.8%-2.4pp	1.6%+5.2pp	-3.6%-1.5pp	-2.1%+1.5pp	-3.6%-2.3pp	-1.3%
Return on Equity	-1.6%-3.2pp	1.6%+2.1pp	-0.5%-1.5pp	1.0%+3.0pp	-2.0%-0.8pp	-1.2%+0.8pp	-2.1%-1.2pp	-0.9%
Return on Assets	-0.8%-1.7pp	0.8%+1.1pp	-0.3%-0.8pp	0.5%+1.5pp	-1.0%-0.4pp	-0.6%+0.4pp	-1.1%-0.6pp	-0.4%
Current Ratio	2.35-0.3	2.61+0.1	2.55-0.1	2.70+0.2	2.50+0.0	2.47-0.1	2.55+0.1	2.50
Debt-to-Equity	0.96+0.0	0.91-0.0	0.94+0.0	0.93-0.1	0.99+0.1	0.89+0.0	0.880.0	0.88
FCF Margin	3.8%+4.5pp	-0.7%-11.8pp	11.2%+5.3pp	5.9%+4.8pp	1.1%-5.6pp	6.8%-0.6pp	7.4%+4.7pp	2.7%

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Frequently Asked Questions

What is Warby Parker Inc's annual revenue?

Warby Parker Inc (WRBY) reported $871.9M in total revenue for fiscal year 2025. This represents a 13.0% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Warby Parker Inc's revenue growing?

Warby Parker Inc (WRBY) revenue grew by 13% year-over-year, from $771.3M to $871.9M in fiscal year 2025.

Is Warby Parker Inc profitable?

Yes, Warby Parker Inc (WRBY) reported a net income of $1.6M in fiscal year 2025, with a net profit margin of 0.2%.

What is Warby Parker Inc's EBITDA?

Warby Parker Inc (WRBY) had EBITDA of $44.9M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.

What is Warby Parker Inc's gross margin?

Warby Parker Inc (WRBY) had a gross margin of 54.0% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.

What is Warby Parker Inc's operating margin?

Warby Parker Inc (WRBY) had an operating margin of -0.6% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.

What is Warby Parker Inc's net profit margin?

Warby Parker Inc (WRBY) had a net profit margin of 0.2% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.

What is Warby Parker Inc's return on equity (ROE)?

Warby Parker Inc (WRBY) has a return on equity of 0.4% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.

What is Warby Parker Inc's free cash flow?

Warby Parker Inc (WRBY) generated $43.7M in free cash flow during fiscal year 2025. This represents a 26.0% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Warby Parker Inc's operating cash flow?

Warby Parker Inc (WRBY) generated $110.8M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.

What are Warby Parker Inc's total assets?

Warby Parker Inc (WRBY) had $720.9M in total assets as of fiscal year 2025, including both current and long-term assets.

What are Warby Parker Inc's capital expenditures?

Warby Parker Inc (WRBY) invested $67.0M in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.

What is Warby Parker Inc's current ratio?

Warby Parker Inc (WRBY) had a current ratio of 2.35 as of fiscal year 2025, which is generally considered healthy.

What is Warby Parker Inc's debt-to-equity ratio?

Warby Parker Inc (WRBY) had a debt-to-equity ratio of 0.96 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Warby Parker Inc's return on assets (ROA)?

Warby Parker Inc (WRBY) had a return on assets of 0.2% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.

What is Warby Parker Inc's Piotroski F-Score?

Warby Parker Inc (WRBY) has a Piotroski F-Score of 5 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Warby Parker Inc's earnings high quality?

Warby Parker Inc (WRBY) has an earnings quality ratio of 67.51x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Warby Parker Inc?

Warby Parker Inc (WRBY) scores 42 out of 100 on our Financial Profile, indicating moderate overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.