Warby Parker posts quarterly profit — first since going public in 2021
Warby Parker Inc. delivered a solid start to 2025, reporting a notable improvement in profitability and its seventh-consecutive quarter of accelerating active customer growth.
The eyewear brand reported its first positive quarterly net income as a public company, posting $3.5 million in income, with earnings per share of $0.03, for the quarter ended March 31, compared to a loss of about $2.7 million in the year-ago quarter.
Net revenue increased 11.9% to $223.78 million, missing estimates of $225.88 million. Active customers increased 8.7% to 2.57 million on a trailing 12-month basis. The average revenue per customer increased 4.8% to $310.
Warby Parker opened 11 net new stores during the quarter, ending with a total of 287 stores across the U.S. and Canada. It is on track to open 45 stores during its current fiscal year, including five shop-in-shops at select Target locations slated to open in the second half of the year.
[READ MORE: Warby Parker to open in-store shops at Target]
“We’re going to learn a lot in the first five stores, and that will help us grow going forward,” co-founder and co-CEO Neil Blumenthal told analysts on the company’s earnings call. “We view this as complementary to our stand-alone store growth.”
Warby Parker continues to see significant room for expansion, with the potential for 900 locations.
The company's gross margin for the quarter was 56.3% compared to 56.7% in the prior year. The decrease was primarily driven by the sales growth of contact lenses and increased store occupancy costs, partially offset by increased penetration of higher priced frames and lenses and lower outbound customer shipping costs as a percent of revenue.
Looking to the rest of the year, Blumenthal stated in the earnings release that the company will leverage its diversified supply chain “and the strength of our tenured team to deliver on our strategic priorities.”
“We believe our brand’s strength, commitment to innovation, and differentiated value proposition reinforce Warby Parker’s ability to continue taking share in the months and years ahead,” he stated.
The company lowered its 2025 full-year guidance to a range of $869 million to $886 million. Previously, it forecast $878 million to $893 million.
