As Warby Parker’s net revenue grows, its net loss narrows

Warby Parker attracted more customers during the third quarter, reflecting in its higher sales and improved net loss.
Warby Parker attracted more customers during the third quarter. (Source: Warby Parker/Facebook)

Warby Parker attracted more customers during the third quarter, reflecting in its higher sales and improved net loss.

The eyewear retailer’s net revenue grew 13.3 per cent from the year-ago period to $192.4 million as active customers rose 5.6 per cent to 2.43 million.

However, its gross margin decreased to 54.5 per cent due to the sales growth of contact lenses and increased doctor headcount. Net loss improved to $4.1 million.

“As we close out the year, we’re focused on continuing to capture market share, bringing new customers to the brand, and deliver on our commitment to accelerate growth and improve profitability year over year,” said Dave Gilboa, co-founder and co-CEO of Warby Parker.

For the full year, the company forecasts net revenue of $765 million to $768 million, up 14 per cent to 15 per cent. It is also on track to open 40 new stores during the year.

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