Warby Parker Inc. Earnings Recaps
Q1 2026
May 8, 2026
Warby Parker’s shares surged 34.1% following Q1 results that beat expectations on revenue growth and margin resilience, alongside promising execution in scaling omnichannel initiatives and growing eye exams despite challenging seasonal headwinds.
Key takeaways
- Revenue reached $242 million, up 8.3% year-over-year, exceeding company guidance amid difficult weather conditions and softer category traffic.
- Adjusted EBITDA margin improved to 12.2%, reflecting disciplined cost management and operational leverage.
- Opened 14 net new retail stores in Q1, with plans for 50 store openings in 2026, including entry into a new market (Baton Rouge, LA).
- Eye exams—the fastest growing segment—rose 30% year-over-year as demand rebounded post-winter, with exam services now in nearly 90% of stores.
- Management reaffirmed full-year guidance and highlighted ongoing investment in AI glasses, expected to launch later this year, though no revenue contribution is included in 2026 outlook.
Q3 2025
Nov 9, 2025
Warby Parker reported a robust Q3 2025, with net revenue growth of 15.2% year-over-year, largely fueled by a 20% increase in retail revenue and a significant improvement in adjusted EBITDA margin.
Key takeaways
- Adjusted EBITDA rose approximately 50% to $25.7 million, reflecting an 11.6% adjusted EBITDA margin and 260 basis points of year-over-year expansion.
- Record retail productivity and a successful launch of five shop-in-shops at Target contributed to the quarter's strong performance.
- Continued focus on innovation through AI aims to enhance customer experience and expand the product offering with intelligent eyewear.
- Reaffirmed 2025 adjusted EBITDA outlook while raising margin expectations amid a cautious revenue forecast due to changing consumer sentiment.