Warby Parker Co-CEO Sells $2.6 Million in Stock as Shares Lag the S&P 500

Core Insights - Warby Parker, a direct-to-consumer eyewear company, reported a significant insider sale by co-CEO David Abraham Gilboa, who sold 94,906 shares valued at $2.61 million [1][2][8] Company Overview - Warby Parker generated $850.58 million in revenue over the trailing twelve months (TTM) and reported a net income of $717,000 [4] - The company's stock price increased by 11.77% over the past year, although it lags behind the S&P 500, which rose approximately 18% during the same period [8] Transaction Details - The insider sale involved the conversion and sale of derivative securities under a pre-established Rule 10b5-1 trading plan, indicating planned monetization rather than opportunistic trading [5][8] - Post-transaction, Gilboa retains 37,247 shares, representing 0.03% of the outstanding shares, while still holding significant exposure through derivative securities [5][8] Operational Performance - Warby Parker's third-quarter revenue increased by 15% year-over-year to $221.7 million, with net income rising to $5.9 million from a loss in the previous year [9] - Adjusted EBITDA reached $25.7 million, resulting in a margin of 11.6%, and the number of active customers grew by over 9% on a trailing twelve-month basis [9] Market Position - The company operates a vertically integrated model, controlling costs and delivering value through both physical stores and online platforms, targeting value-conscious consumers in the U.S. and Canada [6][7]