Financial Data and Key Metrics Changes - Q1 2024 net revenue reached $200 million, a 16.3% increase year-over-year, with adjusted gross margin at 56.9%, up from 55.2% in Q1 2023 [7][29][34] - Adjusted EBITDA for Q1 was $22.4 million, representing an 11.2% margin, compared to $17.7 million or 10.3% in the same period last year [40] Business Line Data and Key Metrics Changes - Glasses drove approximately 70% of revenue growth in Q1, with overall glasses sales growing over 13% year-over-year, compared to an average growth of 8% in 2023 [10][29] - Retail revenue increased by 24.4% year-over-year, while e-commerce revenue grew by 1.8% [29] - Contact lens sales grew approximately 40% year-over-year, accounting for over 9% of revenue, while eye exam revenue also increased over 40% year-over-year, making up about 5% of revenue [24][25] Market Data and Key Metrics Changes - The company added 41 net new stores over the last 12 months, ending Q1 with 245 stores, a 20% increase from 204 stores at the end of Q1 2023 [30] - Retail represented 69% of overall business in Q1, compared to 64% in Q1 2023 [32] Company Strategy and Development Direction - The company is focused on expanding its store footprint, enhancing its marketing efforts, and scaling its eye exam business to drive growth and profitability [8][14] - Plans to add 40 new stores in 2024, with a long-term goal of reaching 900 stores [15] - The company is also investing in product innovation and collaborations to attract a more fashion-oriented consumer [22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the momentum in the business, despite ongoing macroeconomic challenges, and highlighted the importance of marketing and customer acquisition [18][48] - The company raised its full-year guidance for both net revenue and adjusted EBITDA based on strong Q1 performance [9][42] Other Important Information - The company announced an expanded relationship with Versant Health, which will bring an additional 15 million lives in network with Warby Parker [26] - The company is leveraging a universal eligibility check tool to help customers locate their in-network insurance coverage [27] Q&A Session Summary Question: Active customer growth momentum and long-term targets - Management noted that active customer growth is expected to continue increasing, driven by disciplined marketing investments and strong customer lifetime value [47] Question: Trends in customer traffic and pricing - Management acknowledged that while traffic has not fully rebounded, they are focused on marketing and managing expenses to gain market share [48] Question: Fixed versus variable cost mix and margin expansion - Approximately 60% of costs are variable, with expectations for margin expansion driven by glasses growth and improved store productivity [49] Question: Drivers of glasses penetration and customer acquisition - Management highlighted strong execution in product design, store openings, and marketing as key drivers of glasses penetration [53] Question: Productivity trends and marketing investments - Productivity fluctuated during the quarter, with the eclipse glasses campaign driving significant traffic and sales [58][59] Question: Update on insurance channels and customer shopping behavior - Management reported positive trends in insurance utilization, with in-network customers tending to spend more [73] Question: E-commerce trends and future acceleration - E-commerce is showing modest growth, with improvements in direct glasses purchases and plans to enhance the digital shopping experience [74]

Warby Parker Announces First Quarter 2024 Results Net revenue increased 16.3% year over year to $200.0 million; Company raises outlook Average Revenue per Customer increased 9.6% year over year to $296 NEW YORK, May 9, 2024. Warby Parker Inc. (NYSE: WRBY) ("Warby Parker" or the "Company"), a direct-to- consumer lifestyle brand focused on vision for all, today announced financial results for the first quarter ended March 31, 2024. "We entered 2024 with higher ambitions for delivering on our key metrics and a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Registrant's telephone number, including area code (646) 847-7215 Securities registered pursuant to Section 12(b) of the Act: | Class A Common Stock, $0.0001 par value per | | | | --- | --- | --- | | Title of each class share | Trading Symbol WRBY | Name of each exchange on which registered New York Stock Exchange | Securities reg ...

Warby Parker Inc. (NYSE:WRBY) Q4 2023 Results Conference Call February 28, 2024 8:00 AM ET Company Participants Jaclyn Berkley - Head of Investor Relations Dave Gilboa - Co-Founder, Co-CEO & Co-Chair Neil Blumenthal - Co-Founder, President, Co-CEO & Co-Chair Steve Miller - SVP & CFO Conference Call Participants Mark Altschwager - Robert W. Baird Edward Yruma - Piper Sandler Mark Mahaney - Evercore ISI Dana Telsey - Telsey Advisory Group Kathryn Hallberg - TD Cowen Brooke Roach - Goldman Sachs Alex Straton - ...

Warby Parker Announces Fourth Quarter and Full Year 2023 Results 2023 net revenue increased 12.0% to $669.8 million Average revenue per customer increased 9.3% year over year to $287 Expanded relationship with Versant Health, Inc. will nearly double lives with in-network access to >34 million NEW YORK, February 28, 2024. Warby Parker Inc. (NYSE: WRBY) ("Warby Parker" or the "Company"), a direct-to-consumer lifestyle brand focused on vision for all, today announced financial results for the fourth quarter an ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40825 Warby Parker Inc. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation ...

Warby Parker, Inc. (NYSE:WRBY) Q3 2023 Earnings Conference Call November 8, 2023 8:00 AM ET Company Participants Jaclyn Berkley - Head, IR Dave Gilboa - Co-Founder & Co-CEO Neil Blumenthal - Co-Founder & Co-CEO Steve Miller - SVP & CFO Conference Call Participants Mark Mahaney - Evercore Edward Yruma - Piper Sandler Brooke Roach - Goldman Sachs Oliver Chen - TD Cowen Mark Altschwager - Baird Brandon Cheatham - Citigroup Operator Hello, and welcome to today's Warby Parker, Inc. 3Q 2023 Earnings Conference Ca ...

| --- | --- | --- | |-------|-------|-------| | | | | | | | | FORWARD-LOOKING STATEMENTS / NON-GAAP FINANCIAL MEASURES 2 .............. This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not limited to, expectations of future operating results or financial performance, including expectations regarding achieving profitabili ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 001-40825 (Address, including zip code, and telephone number, including area code, of registrant's principal executive offices) Secur ...

Warby Parker Inc. (NYSE:WRBY) Q2 2023 Earnings Conference Call August 9, 2023 8:00 AM ET Company Participants Jaclyn Berkley - Head of Investor Relations Dave Gilboa - Co-Founder, Co-Chief Executive Officer & Co-Chair Neil Blumenthal - Co-Founder, President, Co-Chief Executive Officer & Co-Chair Steve Miller - Senior Vice President & Chief Financial Officer Conference Call Participants Oliver Chen - TD Cowen Mark Altschwager - Baird Edward Yruma - Piper Sandler Brooke Roach - Goldman Sachs Janine Stichter - ...