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Sep 30, 2024
Warby Parker Q3 2024 Earnings Report
Warby Parker's Q3 2024 financial results were announced, revealing a revenue increase and raised full-year outlook.
Key Takeaways
Warby Parker reported a 13.3% increase in net revenue, reaching $192.4 million, and raised its full-year outlook. The company saw growth in active customers and average revenue per customer, alongside an improvement in GAAP net loss and an increase in Adjusted EBITDA margin.
Net revenue increased by 13.3% year over year, reaching $192.4 million.
Active Customers increased 5.6% to 2.43 million on a trailing 12-month basis.
GAAP net loss improved to $4.1 million.
The company opened 13 net new stores, bringing the total to 269 stores.
Forward Guidance
Warby Parker raised its full year 2024 guidance, anticipating net revenue between $765 to $768 million and adjusted EBITDA of approximately $73 million.
Positive Outlook
- Net revenue of $765 to $768 million, representing growth of approximately 14% to 15% versus full year 2023.
- Adjusted EBITDA of approximately $73 million at the midpoint of our revenue range, based on an Adjusted EBITDA Margin of 9.5%.
- On track to open 40 new stores this year.
- Continued revenue growth
- Adjusted EBITDA margin expansion
Historical Earnings Impact
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Avg. Return Before/After Earnings
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