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Dec 31, 2024
Warby Parker Q4 2024 Earnings Report
Warby Parker's Q4 2024 earnings were announced, revealing increased net revenue and improved profitability.
Key Takeaways
Warby Parker reported a 17.8% increase in net revenue for Q4 2024, reaching $190.6 million. The company's GAAP net loss improved to $6.9 million, and Adjusted EBITDA Margin increased to 7.3%. They also announced a partnership with Target Corporation to launch Warby Parker shop-in-shops in select Target locations in 2025.
Net revenue increased by 17.8% year-over-year to $190.6 million.
Gross margin improved to 54.1% compared to 53.8% in the prior year.
GAAP net loss improved by $12.2 million to $6.9 million.
Adjusted EBITDA increased by $4.4 million to $13.8 million, with Adjusted EBITDA Margin rising to 7.3%.
Forward Guidance
Warby Parker anticipates net revenue between $878 to $893 million for the full year 2025, representing approximately 14% to 16% growth versus full year 2024. Adjusted EBITDA is projected to be approximately $97 million, equating to an Adjusted EBITDA Margin of approximately 11%. The company plans to open 45 new stores, including five shop-in-shops at select Target locations.
Positive Outlook
- Net revenue growth of 14% to 16% is expected.
- Adjusted EBITDA Margin is anticipated to be approximately 11%.
- 45 new store openings are planned.
- Partnership with Target Corporation to expand reach.
- Focus on sustainable and profitable growth.
Challenges Ahead
- Guidance is based on management's expectations as of the press release date.
- Forward-looking statements are subject to risks and uncertainties.
- Potential variability of stock-based compensation and taxes.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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