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Dec 31, 2025
Warby Parker Q4 2025 Earnings Report
Warby Parker reported double-digit revenue growth in the fourth quarter of 2025 with improved adjusted EBITDA and continued customer expansion.
Key Takeaways
In Q4 2025, Warby Parker generated net revenue of 211968000, up 11.2% year-over-year. Net loss improved to 5953000, while adjusted EBITDA increased to 15246000 with a margin of 7.2%. Gross margin was 52.4% and active customers grew 7.0% year-over-year.
Net revenue increased 11.2% year-over-year to 211968000.
Gross margin was 52.4% in Q4 2025.
Adjusted EBITDA rose to 15246000 with a 7.2% margin.
Net loss narrowed to 5953000 from 6877000 prior year.
Forward Guidance
For full year 2026, Warby Parker expects continued revenue growth and further expansion in adjusted EBITDA margin.
Positive Outlook
- Full year 2026 revenue guidance of 959000000 to 976000000.
- Expected revenue growth of approximately 10% to 12%.
- Adjusted EBITDA guidance of 117000000 to 119000000.
- Adjusted EBITDA margin guidance of 12.2%.
- Planned opening of 50 new stores in 2026.
Challenges Ahead
- Gross margin pressure from tariffs and shipping costs.
- Continued investment in doctor headcount.
- Ongoing SG&A expense growth.
- Macroeconomic and consumer spending uncertainty.
- Execution risk related to store expansion.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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