Warby Parker Inc. Reports Strong Revenue Growth and Financial Performance in Q1 2024
Friday, 10 May 2024, 14:21
Earnings Summary: Everything you need to know about Warby Parker’s Q1 results
Warby Parker Inc. (NYSE: WRBY) reported higher revenues for the first quarter of 2024.
Key Financial Highlights:
- 16.3% growth in net revenue year-over-year to $200.0 million
- 9.6% increase in average revenue per customer to $296
- 3.2% rise in active customer base to 2.36 million
- Net loss of $2.7 million for the quarter
- Adjusted EBITDA of $22.4 million
The company's gross margin improved to 56.7% while EBITDA margin stood at 11.2%. Operational highlights include $19.9 million in operating cash flow and opening of 8 net new stores during the period.
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.