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Dec 31, 2023
Warby Parker Q4 2023 Earnings Report
Warby Parker's Q4 performance improved with revenue increase and strategic expansions.
Key Takeaways
Warby Parker reported a 10.5% increase in net revenue for Q4 2023, reaching $161.9 million. The company focused on sustainable growth, margin improvement, and customer experience. They expanded their retail presence and nearly doubled insured lives with in-network vision benefits.
Net revenue increased by 10.5% to $161.9 million.
Average revenue per customer increased by 9.3% to $287.
Gross profit increased by 8.0% to $87.1 million.
GAAP net loss improved to $19.0 million.
Warby Parker
Warby Parker
Forward Guidance
For the full year 2024, Warby Parker expects net revenue of $748 to $758 million and adjusted EBITDA of $67 million, with plans to open 40 new stores.
Positive Outlook
- Net revenue of $748 to $758 million, representing approximately 12% to 13% growth versus full year 2023.
- Adjusted EBITDA of $67 million at the midpoint of our revenue range, which equates to an adjusted EBITDA margin of 8.9%.
- 40 new store openings.
- Strong topline and bottomline results.
- Disciplined cost management.