Warby Parker’s net revenue increased 11.9 per cent to $223.8 million in the first quarter of this year, from $200 million in the same period last year. 

The company saw its first quarter of positive net income as a public company, at $3.5 million.  

Its adjusted EBITDA was $29.2 million, up $6.8 million, and its adjusted EBITDA margin increased 1.9 points to 13.1 per cent. 

The company’s operating activities generated a net cash of $29.4 million. 

Warby Parker opened a net 11 additional stores, ending the first quarter of this year with 287. 

The company’s gross margin dropped from 56.7 per cent to 56.3 per cent due to an increase in store occupancy costs driven by the sales growth of contact lenses. 

Moving forward, Warby Parker expects a net revenue of between $869 million and $886 million, with an adjusted EBITDA of between $91 million and $97 million, assuming the company is able to navigate the current tariff rates. 

The company plans to open 45 new stores, including five shops at select Target locations in the second half of the year.