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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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