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Sep 30, 2022
Warby Parker Q3 2022 Earnings Report
Revenue increased, active customers grew, and the company opened new stores.
Key Takeaways
Warby Parker reported an 8.3% increase in revenue to $148.8 million and a 5.1% increase in active customers to 2.26 million. The company opened 13 new stores, bringing the total to 190. Despite macroeconomic headwinds, Warby Parker is well-positioned to grow market share and achieve its financial goals.
Net revenue increased by 8.3% to $148.8 million compared to Q3 2021.
Active Customers increased 5.1% year over year to 2.26 million.
Average Revenue per Customer increased 6.8% year over year to $258.
Opened 13 new stores during the quarter, ending the quarter with 190 stores.
Warby Parker
Warby Parker
Forward Guidance
Warby Parker is revising its outlook for the full year 2022, projecting net revenue of $590 to $596 million, representing growth of 9.1% to 10.2% versus full year 2021. Adjusted EBITDA is expected to be approximately $25 to $27 million, with an Adjusted EBITDA margin of approximately 4.2% to 4.5%. The company plans to open 40 new stores, bringing the total projected store count at year-end to 200.
Positive Outlook
- Net revenue of $590 to $596 million, representing growth of 9.1% to 10.2% versus full year 2021.
- Adjusted EBITDA of approximately $25 to $27 million.
- Adjusted EBITDA margin of approximately 4.2% to 4.5%.
- 40 new store openings.
- Total projected store count at year-end to 200.