Warby Parker Inc Stock Price, News & Analysis

Warby Parker (NYSE: WRBY) reported strong Q2 2024 results, with net revenue increasing 13.3% year-over-year to $188.2 million. The company saw a 4.5% increase in Active Customers and an 8.8% rise in Average Revenue per Customer. Gross margin improved by 1.4 points to 56.0%, while Adjusted EBITDA Margin increased 1.9 points to 10.4%. Despite a GAAP net loss of $6.8 million, Warby Parker generated $31.2 million in operating cash flow and $14.0 million in Free Cash Flow. The company opened 11 net new stores, ending Q2 with 256 locations. Based on these results, Warby Parker raised its full-year 2024 outlook, projecting net revenue of $757 to $762 million and an Adjusted EBITDA of $72.5 million at the midpoint.

Warby Parker (NYSE: WRBY) has announced significant changes to its board of directors. Ronald A. Williams has been appointed as Lead Director, bringing his expertise in transformational leadership to help the company make the optical industry more customer and patient-friendly. Additionally, Bradley E. Singer has joined the board as a new independent director, effective August 1, 2024.

Mr. Singer, with his extensive experience as a dynamic operator and investor, is expected to support Warby Parker's mission to scale and create impact. His background includes roles as COO and Investment Partner at ValueAct Capital, CFO of Discovery Communications, and CFO and Treasurer of American Tower He currently serves on the boards of Crown Castle, Sweetgreen, and Redfin.

Warby Parker Inc. (NYSE: WRBY) has announced that it will release its second quarter 2024 financial results on August 8, 2024, before the market opens. The company will host a live conference call and webcast at 8:00 a.m. Eastern Time to discuss the results and business outlook. Investors can access the call by dialing 833-470-1428 (U.S.) or 404-975-4839 (international) with the passcode 515887. A live webcast will be available on the company's investor relations website, where presentation materials will also be posted prior to the call. A replay will be accessible online for 90 days following the live call.

Warby Parker (NYSE: WRBY) will present at the TD Cowen 8th Annual Future of the Consumer Conference on June 4, 2024, at 2:25 p.m. ET. This presentation will be webcast live and accessible online. Founded in 2010, Warby Parker is a direct-to-consumer lifestyle brand headquartered in New York City, focusing on affordable vision products and eye care.

Known for its designer-quality prescription glasses starting at $95, the company also offers contacts, eye exams, and vision tests through its 245 retail stores across the U.S. and Canada. Warby Parker’s social initiative, Buy a Pair, Give a Pair, has provided over 15 million glasses to those in need.

Warby Parker Inc. (NYSE: WRBY) reported a 16.3% increase in net revenue to $200.0 million in the first quarter of 2024. They achieved a 9.6% increase in Average Revenue per Customer to $296. The company also raised its outlook for the full year 2024, expecting net revenue of $753 to $761 million and an Adjusted EBITDA of $70.0 million.