Friday, December 3rd, 2021

Warby Parker (WRBY) reports Q3 2021 earnings

Co-CEOs, Neil Blumenthal & Dave Gilboa of Warby Parker at the NYSE, September 29, 2021.

Source: NYSE

Warby Parker reported Friday that its third-quarter revenue rose 32% from year-ago levels, but its losses widened as costs associated with its recent direct listing and stock-based compensation ate into sales.

The eyeglasses maker’s shares were unchanged in premarket trading following Warby’s first financial report as a public company. It went public on the New York Stock Exchange via a direct listing on Sept. 29.

Warby’s net loss for the three-month period ended Sept. 30 grew to $91.1 million, or $1.45 per share, compared with a loss of $41.6 million, or 78 cents a share, a year earlier.

Revenue grew 32% to $137.4 million from $104.1 million. Sales were up 45% on a two-year basis.

The company said active customers totaled 2.15 million, up 23% from 2020 levels.

For the full year, Warby expects revenue to be between $539.5 million and $542 million, representing as much as a 38% jump from a year earlier, or 46% growth on a two-year basis.

The company is still planning to open 35 stores by the end of the year, bringing its total count to 161 locations.

Warby shares closed Thursday at $53.51, down almost 1% from its opening trade price of $54.05.

Find the earnings press release from Warby Parker here.

This story is developing. Please check back for updates.

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