Warby Parker Inc. reports developments for a direct-to-consumer vision-care brand that sells prescription glasses, non-prescription optical glasses, sunglasses, contact lenses, eyewear accessories, eye exams, and vision tests through retail stores, its website, and mobile apps. Company updates commonly cover net revenue, SG&A leverage, active customers, average revenue per customer, adjusted EBITDA, cash flow, and the pace of store expansion.
Recurring news also includes product-category expansion, such as Warby Parker Sport performance eyewear, changes in senior finance leadership, investor conference participation, and social-impact disclosures tied to the Buy a Pair, Give a Pair program.
Warby Parker reported a 32% revenue increase to $137.4 million for Q3 2021, driven by a 23% rise in active customers to 2.15 million. Despite this growth, net loss surged to $91.1 million, primarily due to increased SG&A expenses, which rose to $171.6 million. The gross margin fell to 58% from 61.5% the previous year, reflecting a shift towards contact lenses. The company expects fiscal year 2021 net revenue between $539.5 million and $542.0 million with an adjusted EBITDA margin of 4% to 5%, showcasing a commitment to sustainable long-term growth.
Warby Parker (NYSE:WRBY) will release its third quarter fiscal 2021 financial results before the market opens on November 12, 2021. A conference call to summarize the results will take place at 8:00 a.m. ET, accessible via phone and webcast. The call can be joined by dialing 844-200-6205 in the U.S. or 929-526-1599 internationally, using passcode 386560. Presentation materials will be posted on their investor website, with a replay available for 90 days post-call.