Warby Parker Reports Impressive Revenue Growth in First Quarter Earnings
Thursday, 9 May 2024, 16:47
Warby Parker is looking sharp
Revenue in the quarter rose 16.3% to $200 million, outperforming analyst estimates. Growth in customer base and revenue per customer contributed to profitability gains. Gross margin improved to 56.7% driven by glasses sales, operational efficiencies, and cost reductions.
What's next for Warby Parker
- Warby Parker raised revenue forecast to $753-$761 million, expecting 12.5%-13.5% growth.
- Adjusted EBITDA guidance was increased to $70 million.
- The company plans to open 40 new stores to expand market presence.
With strong growth and profitability initiatives, Warby Parker's stock surged today.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.