Warby Parker 2Q Earnings Beat Expectations, CFO to Step Down

Warby Parker reported a 14% rise in Q2 revenue to $214.5 million, with a narrowed loss of $1.75 million. The eyeglass retailer opened 11 new stores and had 298 stores as of June 30. CFO Steve Miller is resigning, and co-CEO Dave Gilboa will take over on an interim basis. Warby Parker is guiding for full-year revenue of $880 million to $888 million, a 14% to 15% increase from 2024.

Warby Parker, the eyewear and eye care retailer, has reported a 14% rise in second-quarter (Q2) revenue to $214.5 million, with a narrowed loss of $1.75 million. The company's second-quarter loss narrowed to $1.75 million, or 1 cent per share, from $6.76 million, or 6 cents per share, a year earlier [2].

The retailer opened 11 new stores during the quarter, bringing the total number of stores to 298 as of June 30. Warby Parker's average revenue per customer increased to $316, and active average customers rose 9% to 2.6 million.

Notably, Warby Parker's Chief Financial Officer, Steve Miller, is resigning as of October 1, and co-CEO Dave Gilboa will take over on an interim basis until a successor is named. The company had previously guided for full-year revenue of $880 million to $888 million, representing a 14% to 15% increase from 2024 [2].

In addition to its financial performance, Warby Parker has been expanding its retail presence. The company plans to open a store at the Village of Cross Keys in the late fall of 2025, occupying an approximately 1,500-square-foot space on the east side of Village Square [1].

References:
[1] https://baltimorefishbowl.com/stories/eyewear-retailer-warby-parker-sets-its-sights-on-new-store-to-open-at-cross-keys/
[2] https://www.marketwatch.com/story/warby-parker-2q-loss-narrows-as-revenue-rises-finance-chief-to-step-down-48225a04