Warby Parker is officially a profitable company.
The eyeglass maker announced on Thursday first quarter earnings that included a $3.5 million net profit, the first since the brand went public in 2021. Warby Parker had previously been narrowing its net losses, while consistently generating adjusted earnings before interests, taxes, depreciation and amortisation â a measure of profitability that excludes key expenses.
Warby Parkerâs first quarter revenue also jumped 12 percent year over year to $224 million. The uptick came from 11 new store openings, a 6 percent jump in e-commerce revenue and a 9 percent increase in active customers â shoppers who have purchased in the last 12 months.
But Warby Parker is not immune to tariff uncertainty. The brand slightly lowered its revenue guidance for the full year, with sales expected to grow as much as 15 percent year over year to $886 million instead of the previously planned 16 percent growth. The brand also raised prices on select goods at the end of April and plans to reduce its manufacturing in China by half before the end of the year, the brandâs co-chief executives, Neil Blumenthal and Dave Gilboa, said on the earnings call.
Warby Parkerâs steady sales growth and profitability milestone comes ahead of its first retail partnership where it will open five shop-in-shops in Target in the second half of the year.
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Warby Parker to Open Target Shop-in-Shops
The digitally native eyewear maker on Thursday reported its highest quarterly growth since 2021 and teased its first multi-brand retail partnership.