What is the market's earnings forecast for Warby Parker next quarter?

Did Warby Parker beat or miss consensus estimates last quarter?

What is Warby Parker's gross profit margin?

What guidance did Warby Parker's management provide for the next earnings period?

What is Warby Parker's latest dividend and current dividend yield?

What does Warby Parker do and what are its main business segments?

What factors drove the changes in Warby Parker's revenue and profit?

What is the revenue and EPS growth rate for Warby Parker year over year?

**Key Takeaways:**
- **2025 Growth**: 13% revenue to $871.9M, first profitable year with $95M adj. EBITDA. 
- **2026 Outlook**: 10-12% revenue growth, 130bps margin expansion, 50 new stores. 
- **AI Glasses Launch**: 2026 revenue excludes AI glasses but includes launch costs. 
- **Q1 Challenges**: Weather-impacted Q1 growth of 6.5-7.5%, EBITDA $27-28M. 
- **Customer Strategy**: Targeting younger cohorts with TikTok/YouTube ads, insurance pilots. 
- **Supply Chain**: Vertically integrated model ready for AI glasses launch. 
- **Tariffs**: 10-15% global surcharge replacing emergency tariffs, no refund assumptions. 
- **Cash Position**: $286M cash, $100M share buyback authorized.

**【CEO Summary Section】**
- **2025 Performance**: Revenue grew 13% to $871.9M, with 11% Q4 growth. Adjusted EBITDA expanded 30% to $95M, and the company achieved its first full year of positive net income. 
- **Core Drivers**: 47 new store openings, mid-single-digit ARPU growth, and 6% industry decline in prescription glasses units. 
- **2026 Outlook**: Low double-digit revenue growth (10-12%), 130bps EBITDA margin expansion, and 50 new store openings. Excludes AI glasses revenue but includes launch costs. 
- **AI Strategy**: Launching first AI glasses with Google/Samsung, targeting 1.3% U.S. eyewear market share. 
- **Q1 Challenges**: Weather-impacted Q1 revenue growth of 6.5-7.5% ($238-240M), with retail down 70% in high-traffic areas. E-commerce growth muted due to Home Try-On sunset. 

**【CFO Financial Commentary】**
- **Q4 Results**: Revenue $212M (+11%), adj. EBITDA $15.2M (7.2% margin). Gross margin 52.5% (-170bps vs. prior year) due to tariffs, contacts mix, and doctor headcount. 
- **Full Year 2025**: Free cash flow $44M, up from $35M. Ended with $286M cash, undrawn $120M credit facility. 
- **2026 Guidance**: Revenue $959-976M, adj. EBITDA $117-119M (12.2% margin). Marketing ~12-13% of revenue. 
- **Capital Allocation**: $100M share buyback authorized to offset dilution. 

**【Q&A Highlights】**
- **Customer Softness**: Younger cohort (25-34) impacted by macro, but Warby outperformed industry (-6% units vs. -mid-single digits). Actions: media spend on TikTok/YouTube, insurance penetration pilots. 
- **AI Glasses Supply Chain**: Vertically integrated model with 300+ stores ready for launch. No halo effect assumed in guidance. 
- **Tariffs**: 10-15% global surcharge replacing emergency tariffs. No refund assumptions in 2026 plan. 
- **Store Performance**: 5 Target shop-in-shops testing new demographics. 4-wall margins and payback periods meet thresholds. 
- **Tariffs Impact**: 2025 gross margin down 110bps, 2026 expected stable. Selective price increases offset部分成本。

Warby Parker Inc. (WRBY) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: 15.2% YoY to $221.7M, driven by 20% retail growth and 13% glasses unit expansion.
- **AI Innovation**: Partnering with Google and Samsung to launch AI glasses, with upgraded labs supporting future fulfillment.
- **Margin Expansion**: Adjusted EBITDA up 50% to $25.7M (11.6% margin), with 260bps YoY expansion.
- **Store Expansion**: 15 new stores opened, including 5 Target shop-in-shops, bringing total to 313.
- **Guidance**: Full year EBITDA $98-101M (11.3-11.6% margin), Q4 EBITDA $18-21M (9.2% margin).
- **Challenges**: Mix shift to $95 frames, contacts growth deceleration to 21% YoY.


**【CEO Summary Section】**
- **Q3 Revenue Growth**: 15.2% YoY to $221.7M, driven by 20% retail revenue growth and 13% glasses unit growth. Adjusted EBITDA rose 50% to $25.7M (11.6% margin), despite macro challenges.
- **Customer Dynamics**: Resilient progressives customers offset mix shift to $95 frames, weighing on ASP. Contacts growth decelerated to 21% YoY amid macro softness.
- **AI Innovation**: Partnering with Google and Samsung to develop AI glasses, with first products expected in coming months. Upgraded optical labs to support future AI-driven fulfillment.
- **Store Expansion**: Opened 15 new stores (313 total), including 5 Target shop-in-shops. Suburban densification strategy continues, with 88% of stores now offering eye exams.
- **Long-Term Vision**: Aiming for 20%+ EBITDA margin through disciplined cost control, AI-driven efficiency, and omnichannel expansion.

**【CFO Financial Commentary】**
- **Top Line**: E-commerce frame sales grew 3.2% YoY, offsetting Home Try-on sunset. Contacts (11.5% of revenue) and eye exams (6.5% of revenue) showed strong growth.
- **Gross Margin**: 54.2% (down 40bps YoY) due to tariffs and contacts mix. Eye exam margin improved from 2024 inefficiencies.
- **Expense Control**: Adjusted SG&A at 48.7% of revenue (-360bps YoY), driven by 3% non-marketing SG&A growth. Marketing spend at 13.1% of revenue.
- **Cash Flow**: $36M year-to-date free cash flow, with 2025 expected to be third consecutive year of positive FCF.
- **Guidance**: Full year net revenue $871-874M (13% YoY), EBITDA $98-101M (11.3-11.6% margin). Q4 EBITDA $18-21M (9.2% margin).

**【Q&A Highlights】**
- **Mix Shift**: Younger customers gravitating to $95 frames, while progressives (22.3% of Rx units) remain resilient. No trade-down from lens price increases.
- **AI Impact**: Using AI for design, customer engagement (e.g., Advisor tool), and content creation. Early AI adoption driving 200+ basis points of EBITDA margin expansion.
- **Store Strategy**: Targeting suburban markets with 1-2 stores. Shop-in-shops performing in line with expectations, with 5-10 more planned for 2026.
- **Doctor Retention**: 60% of store leaders promoted internally. Doctors value clinical tools, culture, and technology (e.g., Point of Everything system).
- **Tariff Mitigation**: Supplier diversification and selective price increases offset $10M+ annual impact.


Warby Parker Inc. (WRBY) Q3 2025 Earnings Call Transcript

- **Revenue & Growth**: Q2 revenue up 14% YoY to $214.5M, with 19% retail growth and 2.6M active customers (9% YoY). ARPC +4.6% to $316.
- **Strategic Wins**: 300th store, first Target shops, 20M+ glasses donated. AI glasses partnership with Google announced.
- **Financial Strength**: EBITDA margin +130bps to 11.7%, free cash flow $24M. FY25 guidance raised to $880-888M revenue.
- **Operational Shifts**: Ended home try-on program, launched AI-driven 'Advisor' tool, and reallocated marketing spend.
- **Tariff Mitigation**: 80%+ supply out of China, selective price increases, and 360bps SG&A leverage.
- **Long-Term Drivers**: Contacts (11.5% of revenue vs 20% industry avg), progressives (23% of prescriptions), and AI glasses partnership.

**【CEO Summary Section】**
- **Revenue Growth**: Q2 revenue of $214.5M, up 14% YoY, driven by 19% retail growth and 2% e-commerce. Active customers reached 2.6M (9% YoY), with ARPC up 4.6% to $316.
- **Strategic Milestones**: 300th store opened; first Target shop-in-shops launched. 20M+ pairs distributed via Buy One Give One program.
- **AI Innovation**: Partnership with Google to develop AI-powered glasses, targeting all-day use with Gemini AI integration.
- **Store Expansion**: 11 new stores in Q2, 42 net over 12 months. 87% of stores now offer eye exams.
- **Product Performance**: Glasses +11% YoY, contacts +28%, eye exams +44%. Progressives account for 23% of prescription units.
- **Operational Shift**: Sunset of home try-on program, reallocating costs to brand awareness and acquisition. Launched AI-driven 'Advisor' tool for e-commerce.

**【CFO Financial Commentary】**
- **Financial Highlights**: Adjusted EBITDA of $25M (11.7% margin), up 130bps YoY. Free cash flow $24M, ending Q2 with $286M cash.
- **Gross Margin**: 54.3% (mid-50s guidance), impacted by tariffs and contact lens growth.
- **Cost Control**: Non-marketing SG&A down 360bps YoY to 36.7% of revenue. Total SG&A 48.9% vs 52.2% YoY.
- **Tariff Mitigation**: Shifted 80%+ supply out of China, selective price increases, and disciplined expenses.
- **Updated Guidance**: FY25 revenue $880-888M (+14-15%), EBITDA $98-101M. Q3 revenue $223-225M, EBITDA $24-25.5M.

**【Q&A Highlights】**
- **Customer Health**: Stable demand despite macro challenges; 50%+ retention over 24 months, 100%+ over 48 months.
- **AI Impact**: Google partnership to launch AI glasses, leveraging Warby's retail network and Google's AI ecosystem.
- **Target Shops**: Positive early feedback; 5 stores opened in August, with plans to expand into new markets.
- **Price Increases**: Minimal impact on mix; higher-value add-ons outperformed expectations.
- **Insurance Growth**: In-network insurance customers spend 2x more, with multiyear utilization trends.
- **Contacts & Progressives**: Contacts at 11.5% of revenue (20% industry avg); progressives at 23% vs 40% market share, driven by store expansion.
- **Transition Leadership**: Steve Miller departing after 14 years; Dave Gilboa interim CFO.


Warby Parker (WRBY)-7 Aug 25-2025 Q2 Earnings call transcript

- **Revenue Growth & Profitability**: 12% YoY revenue growth to $223.8M, first GAAP net income, 13.1% EBITDA margin.
- **Tariff Mitigation Success**: 70% of $45M-$50M impact already offset via supply chain, pricing, and cost control.
- **E-commerce Acceleration**: 5.5% YoY growth driven by 25% contact lens and 40% eye care expansion.
- **Key Trends**: 8.7% YoY active customer growth, 4.8% ARPC increase, 35% store 4-wall margin.
- **Tariff-Neutral Outlook**: Full year EBITDA margin expected to expand 100-150bps despite 200-300bps gross margin headwind.

**【CEO & Co-CEO Strategic Overview】**
- Q1 2025 revenue grew 12% YoY to $223.8M, driven by 8.7% YoY active customer growth and 4.8% YoY increase in ARPC to $310.
- Achieved first quarter of positive GAAP net income as a public company with adjusted EBITDA margin of 13.1% (vs. 11.2% YoY).
- Tariff mitigation strategy includes: 
  1. Shifting 50% of China-sourced COGS to <10% of total by year-end
  2. Selective price increases on ~low single-digit of glasses business
  3. $45M-$50M tariff impact mitigation through supply chain, pricing, and expense control.

**【CFO Financial Highlights】**
- Q1 2025 financials: 
  - Revenue: $223.8M (+12% YoY)
  - Adjusted EBITDA: $29.2M (13.1% margin)
  - Free cash flow: $13.2M
  - Cash balance: $265M
- FY25 guidance: 
  - Revenue: $869M-$886M (13%-15% growth)
  - Adjusted EBITDA: $91M-$97M (10.5%-11% margin)
- Gross margin expected to face 200-300bps headwind due to tariffs, partially offset by cost control and pricing.

**【Q&A Key Takeaways】**
1. **Tariff Impact & Mitigation**: 
   - 70% of tariff impact already mitigated through supply chain shifts
   - Price increases have maintained conversion rates and product mix
   - $45M-$50M tariff exposure expected to be fully offset
2. **E-commerce Growth**: 
   - Q1 e-commerce grew 5.5% YoY (highest since 2021)
   - Driven by contact lens (+25%) and eye care (+40%) expansion
3. **Target Partnership**: 
   - 5 shop-in-shops expected H2 2025
   - Same store design, staffing, and POS as standalone stores
4. **Consumer Behavior**: 
   - Resilient demand despite macro volatility
   - Insurance customers spend 2x more and have higher retention
5. **Marketing Efficiency**: 
   - Low-teens marketing spend as % of revenue
   - AI-powered personalization tests showing early success

Warby Parker Inc. (WRBY) Q1 2025 Earnings Call Transcript

- **Revenue Growth**: 15.2% YoY to $771.3M, with Q4 up 17.8%. 2025 targets 14-16% growth.
- **Margin Expansion**: 9.5% EBITDA margin (170bp YoY), targeting 11% in 2025.
- **Customer Growth**: Active customers +7.8% YoY, driven by 12.9% marketing spend.
- **Product Innovation**: First rimless frames at $195, AI-powered virtual try-ons, and 36% contacts growth.
- **Channel Expansion**: 45 new stores in 2025, including 5 Target shop-in-shops.
- **Risk Mitigation**: 20-40bp tariff headwind offset by product mix and sourcing diversification.


**【CEO & Co-Founder Overview】**
- **2024 Performance Highlights**: Revenue grew 15.2% YoY to $771.3M, with 17.8% Q4 growth. Adjusted EBITDA rose 40% to $73.1M, driven by 170bp margin expansion to 9.5%.
- **Strategic Pillars**: 
  1. **Customer Growth**: Active customers reached 2.51M (7.8% YoY), with Q4 showing 6th consecutive quarter of accelerating growth.
  2. **Product Innovation**: Introduced 20+ frame collections, including first rimless styles at $195, and expanded lens options (e.g., anti-fatigue, blue light filters).
  3. **Channel Expansion**: Opened 41 new stores (total 276), with 86% offering eye exams. 2025 plans include 45 new stores (5 in Target shop-in-shops) and 36%+ growth in contacts business.
- **2025 Outlook**: Target $878-893M revenue (14-16% growth), 11% EBITDA margin, and continued investment in marketing (low-teens % of revenue) and AI-driven e-commerce tools.

**【CFO Financial Breakdown】**
- **Q4 2024 Results**: 
  - Revenue: $190.6M (17.8% YoY), with retail up 23.9% and e-commerce +5.3%.
  - Gross Margin: 54.2% (flat YoY), benefiting from progressive lens growth and lab efficiencies, offset by contact lens expansion (10.5% of revenue).
  - SG&A: 54% of revenue, with marketing spend at 12.9% (vs. 12.5% YoY), balanced by 280bp non-marketing expense leverage.
- **2024 Full Year**: 
  - Gross Margin: 55.5% (170bp expansion), driven by higher-margin lens types and 35%+ store 4-wall margins.
  - Free Cash Flow: $35M (vs. $7M YoY), supporting $254M cash balance.
- **2025 Guidance**: 
  - Gross Margin: Mid-50s (20-40bp headwind from tariffs).
  - Store Productivity: 35%+ 4-wall margins, 20-month payback period.
  - Contact Lens Penetration: Targeting 20% of optical market (currently 10% of revenue).

**【Q&A Key Takeaways】**
1. **Customer Acquisition Strategy**: 
   - Marketing spend efficiency (12.9% of revenue in Q4) driving 7.8% YoY active customer growth.
   - Insurance partnerships (e.g., Versant Health) adding 30M+ in-network lives, with utilization tracking ahead of prior carrier integrations.
2. **Target Partnership**: 
   - 5 shop-in-shops to test omnichannel convenience, leveraging Warby's vertically integrated supply chain.
   - Potential for scaling based on customer feedback and performance metrics (e.g., traffic, conversion).
3. **AI & E-Commerce**: 
   - AI-powered virtual try-on tools (75% iOS adoption) driving 12% YoY glasses growth.
   - 2025 plans include personalized recommendation engines to replicate in-store experience online.
4. **Tariff Mitigation**: 
   - 20%+ sourcing outside China, with 20-40bp gross margin impact hedged by product mix optimization.
5. **Long-Term Vision**: 
   - 900+ store target (vs. 276 current), with 75% of optical purchases made at exam locations.
   - Addressing myopia growth (50%+ global prevalence by 2050) through accessible, high-quality care.


Actual	-1.45	-0.08	-0.039	-0.01	0.01	0	0.06	0.04	0.01	-0.01	0.1101	0.0866	0.0702	0.0283	0.1519	0.0875	0.1146	0.0188
Forecast	-0.5229	-0.0901	0.0043	-0.0211	0.0266	-0.0007	0.045	0.023	0.0078	0.0067	0.0679	0.0517	0.0523	0.0273	0.1125	0.071	0.0871	0.0538
Surprise	-177.30%	+11.21%	-1006.98%	+52.61%	-62.41%	+100.00%	+33.33%	+73.91%	+28.21%	-249.25%	+62.15%	+67.50%	+34.23%	+3.66%	+35.02%	+23.24%	+31.57%	-65.06%

WRBY

WRBY fundamentals

WRBY Q4 2025 Earnings

Earnings Call

You can ask Aime

WRBY

WRBY fundamentals

WRBY Q4 2025 Earnings

Earnings Call

WRBY Earnings Call Summary for Q4/20258:00 AM on Feb 26, 2026

WRBY Earnings Call Summary for Q3/20258:00 AM on Nov 6, 2025

WRBY Earnings Call Summary for Q2/20258:00 AM on Aug 7, 2025

WRBY Earnings Call Summary for Q1/20258:00 AM on May 8, 2025

WRBY Earnings Call Summary for Q4/20248:00 AM on Feb 27, 2025

You can ask Aime