📈 Price History

Ratio Health

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By Category

📊 Peer Medians

About

Warby Parker Inc. sells eyewear products through its retail and e-commerce platform in the United States and Canada. The company offers eyeglasses and sunglasses; and single-vision, progressive, light-responsive, polarized, blue-light-filtering, tinted, non-prescription, and contact lenses. It also provides accessories, such as cases, pouches, lenses kit with anti-fog spray, travel cases, lenses cloth, anti-fog lens spray, and sun clip-ons through its stores, website, and mobile apps. In addition, the company offers eye exams and vision tests, as well as optical services. Warby Parker Inc. was incorporated in 2009 and is headquartered in New York, New York.

Key Ratios Snapshot

📈 Growth Pattern

⚡ Latest Quarter —

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📊 Quick Scorecard

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⭐ Superinvestors Holding WRBY

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Manager	Shares	Value	% of Fund	Period
Jim Simons Renaissance Technologies LLC	552.8K	$11.6M	0.02%	Mar 2026
Steve Cohen Point72 Asset Management	44.9K	$946K	0.00%	Mar 2026

SEC Form 13F data. 45-day lag from quarter end.

🔍 Concall Decoded

🎙 Management Tone Tracker Confident Specific ~ Volatile 4 quarters analysed

Q2 2025

Confident Specific

Management repeatedly emphasised 'strong results', 'above the high end of our guidance', 'eighth straight quarter of accelerating customer growth', and raised full-year guidance. Specific figures and milestones were cited (e.g., store count, revenue percentages, margin expansion).

Q3 2025

Mixed

Management expressed confidence in long-term strategy and AI opportunities, but acknowledged near-term consumer softness and adopted a more conservative revenue outlook. Phrases like 'strong quarter on many fronts' and 'we are entering Warby Parker's third act' show optimism, while 'trends moderated in September and have remained consistent' and 'taking a more measured view on revenue given the current macro environment' temper expectations.

Q4 2025

Cautious

Management repeatedly used phrases like 'planning conservatively', 'prudent to adopt a measured approach', and 'transient softness' to describe recent trends. They acknowledged Q4 adjusted EBITDA came in below expectations and cited 'historic winter weather' as a Q1 headwind, while emphasising long-term confidence in AI glasses and core business initiatives.

Q1 2026 latest

Confident Specific

Despite acknowledging weather disruptions and soft category traffic, management repeatedly emphasized exceeding guidance with specific figures (revenue $242M, adjusted EBITDA $30M, 12.2% margin) and highlighted strong progress on strategic priorities like AI glasses development and insurance penetration, while maintaining a disciplined and prudent forward outlook.

Guidance Reliability Pending · <3Q data

Investor Lens

The investment thesis appears stronger after this call: Warby Parker delivered a beat on both revenue and adjusted EBITDA despite macro headwinds, demonstrating resilience and market share gains. The reaffirmed full-year guidance implies confidence in underlying momentum, with catalysts like insurance expansion, store growth, and the upcoming AI glasses launch (which is excluded from guidance but carries investment costs). Key risks remain: the consumer environment is soft, active customer growth is only mid-single-digit, and AI glasses execution and margin details are still opaque. Next quarter, watch for active customer acceleration, e-commerce trends as Home Try-On headwinds fade, and any early metrics on AI glasses reception or pre-launch spending.

AI-generated concall tone analysis · Updated 2026-06-09 · Not investment advice

🎙 Management Tone Confident Specific ~ Volatile 4 quarters Full tone analysis in Intelligence →

📊 MIXED Warby Parker Q1 2026: revenue $242M (+8.3% YoY), adjusted EBITDA $30M (12.2% margin)

Revenue & Profitability

First quarter revenue was $242.4 million, up 8.3% year-over-year. Adjusted EBITDA was $29.6 million, representing a 12.2% margin. Full-year 2026 guidance reaffirmed: revenue of $959-$976 million (10-12% growth) and adjusted EBITDA of $117-$119 million (12.2% margin at midpoint). Second quarter 2026 guidance: revenue $235-$238 million (10-11% growth) and adjusted EBITDA $27-$29 million.

Outlook

Management noted a dynamic operating environment with periods of extreme winter weather, store closures, and continued softness in category traffic and unit demand. Consumer sentiment was near record lows. However, management is encouraged by trends quarter to date and expects the Home Try-On headwind to diminish. Full-year guidance remains disciplined and prudent.

Growth Drivers

Key growth levers include retail store expansion (50 new stores in 2026, entry into Baton Rouge), eye exam growth (30% year-over-year in Q1), insurance penetration (in-network reached 10% from 8% a year ago), new product collections (Sport, Spring 2026, New Deco 2.0), and improvements in average revenue per customer (+6.9% year-over-year driven by progressives, lens add-ons, and insurance). Marketing is being reallocated from contacts to glasses.

Balance Sheet & CapEx

Not discussed in this earnings call.

Margins

Adjusted gross margin was 54.2% in Q1 2026, down 220 basis points year-over-year due to deleverage from doctor headcount, occupancy, tariff costs, and store openings. Management expects gross margin tailwinds from more favorable tariff dynamics, changes to the Add a Pair and Save offer, and operational efficiencies in labs. Adjusted EBITDA margin was 12.2% in Q1, with full-year guidance at 12.2% margin at midpoint.

Key Risks

Risks discussed include extreme winter weather causing store closures, continued softness in category traffic and unit demand, tariffs impacting costs, and consumer stress among younger demographics (higher unemployment, student debt). The company also faces execution risk related to the AI glasses launch, which requires complex lens fulfillment and supply chain upgrades.

Generated by AI · Q1 2026 results · Not investment advice

✓ 📞 Earnings Call Transcripts (5 quarters) submit a missing quarter

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📞 Earnings Call Transcripts (5)

Q2 2026 Q2 2026 2026-08-06

Q2 revenue grew nearly 10% year-over-year, driven by retail expansion, eye exams, and insurance, with adjusted EBITDA boosted by a tariff refund. The company is preparing for the Intelligent Eyewear launch, reaffirming full-year guidance and increasing investments in marketing and infrastructure.

Q1 2026 Q1 2026 2026-05-07

Q1 revenue and adjusted EBITDA exceeded guidance despite weather-related disruptions and industry softness. Strategic investments in omni-channel expansion, AI glasses, and insurance penetration are driving growth, with full-year guidance reaffirmed and no AI glasses revenue included yet.

Q4 2025 Q4 2025 2026-02-26

Delivered 13% revenue growth and first full year of net income in 2025, with strong retail expansion and investments in AI glasses. 2026 guidance targets 10–12% revenue growth, 130 bps EBITDA margin expansion, and excludes any AI glasses revenue.

Q3 2025 Q3 2025 2025-11-06

Q3 delivered 15.2% revenue growth and 50% Adjusted EBITDA growth, with strong retail and eye care performance. Guidance for FY2025 was reaffirmed, with margin expansion expected despite macro headwinds and a focus on AI innovation and operational efficiency.

Q2 2025 Q2 2025 2025-08-07

Q2 2025 saw 13.9% revenue growth and 130 bps adjusted EBITDA margin expansion, driven by strong retail and customer growth. Guidance for 2025 was raised, with continued store expansion, AI innovation, and a new Google partnership. Tariff mitigation and cost discipline supported margins.

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