National Vision (EYE) FY Conference June 04, 2025 10:20 AM ET Speaker0 I'll do the introductions while you're doing that. Sorry. Dylan Carden, I'm the analyst here that covers National Vision. We've got the whole slate here. Alex Wilkes, Reed Foss, Chris Layden. There's Mike in the room. The compliance guy usually comes in here to make sure I give you the compliance spiel. You can find all our disclosures on our website and I'll let you guys take it away. Speaker1 Thank you, Dylan. And let's get back to our ...

Warby Parker Conference Call Summary Company Overview - Warby Parker is a mission-driven vision care and lifestyle brand, recognized as a direct-to-consumer (DTC) pioneer in the eyeglasses category [1][2] Industry Insights - The U.S. vision care market is valued at approximately $68 billion, with a significant portion of Americans requiring corrective vision care products [4] - The market is divided between large optical chains and independent optical shops, with consolidation leading to limited competition and high prices [5] - Most glasses in the U.S. are marked up 10 to 20 times their manufacturing cost, and 75% of glasses are sold at the same location as eye exams, creating a lack of transparency in pricing [5][6] Company Performance - Warby Parker has achieved nearly $800 million in revenue, with a low teens growth rate over the past few years [3] - The company is guiding for 12% to 14% growth in Q2 and 13% to 15% for the full year, a slight reduction from previous expectations [9][10] Competitive Advantages - Warby Parker offers high-quality glasses at a price point of $95, which has remained unchanged since its launch in 2010, contrasting with competitors who have consistently raised prices [6][7] - The company has expanded its product assortment to include progressive lenses and contact lenses, appealing to a broader market [7][12] Growth Strategy - Plans to open 45 new stores in 2025, including five stores within Target locations [11][37] - Focus on expanding complex lens types and enhancing the vision care offering, which includes contacts and eye exams [12][13] Partnership with Google - Warby Parker announced a partnership with Google to develop AI-powered smart glasses, aiming to transform user interaction with technology [14][15] - The glasses are expected to provide real-time contextual information and be aesthetically appealing for everyday use [18] Tariff Mitigation Strategies - The company has reduced its sourcing from China from 20% to less than 10% to mitigate the impact of tariffs, which previously could have cost $40 million to $45 million [21][22] - Strategies include reallocating supply globally, implementing selective price increases, and maintaining expense discipline [23][24][25] Vision Insurance and Eye Exams - Vision insurance represents about 7% of Warby Parker's revenue, with efforts to increase awareness and utilization among insured customers [38][41] - Eye exams are growing rapidly, with a 40% increase last year, and are seen as a strategic pivot to drive higher-margin glasses sales [43][45] Financial Metrics - The company reported a 13.1% adjusted EBITDA margin in Q1, with a focus on controlling expenses and maintaining profitability [25] Conclusion - Warby Parker is positioned to capitalize on growth opportunities in the vision care market through strategic partnerships, innovative product offerings, and a commitment to fair pricing and customer satisfaction [29][31]

Core Viewpoint - National Vision Holdings Inc. has emerged as a significant stock in the market, experiencing a surge of over 40% in the past week, driven by strong earnings and a double upgrade from Bank of America [2][9]. Company Overview - National Vision is valued at $1.5 billion and operates over 1,300 retail optical locations in the U.S., including brands like America's Best Contacts & Eyeglasses and Eyeglass World, providing eye exams, glasses, and contact lenses [3]. Earnings Performance - The company's first-quarter earnings report exceeded expectations, with non-GAAP EPS at 34 cents, beating estimates by 3 cents, and revenue reaching $510.3 million, a nearly 6% increase year-over-year [5]. Strategic Changes - Management attributed the positive results to strategic changes implemented in late 2024, including a new pricing architecture, improved recruitment and retention of optometrists, and new remote exam capabilities [6]. Guidance and Market Reaction - National Vision raised its full-year 2025 guidance, signaling strong future performance, which has contributed to the stock's recent rally [7]. Analyst Upgrades - Bank of America issued a rare double upgrade for National Vision, moving it from Underperform to Buy, with a new price target set at $22, indicating potential for further gains [9]. Future Outlook - Analysts highlight that National Vision's initiatives are effective, with a strong setup for the latter half of 2025, focusing on promotional frame traffic and improved marketing execution [10]. Cost Structure and Risks - Less than 10% of National Vision's cost of goods sold is exposed to China, which mitigates tariff-related risks, and recent pricing changes have improved margins without negatively impacting customer satisfaction [11].

Warby Parker (WRBY) Q1 2025 Earnings Call May 08, 2025 08:00 AM ET Company Participants Jaclyn Berkley - VP - Head of Investor RelationsNeil Blumenthal - Co-Founders and Co-CEODave Gilboa - Co-Founders and Co-CEOSteve Miller - SVP and CFO Conference Call Participants Mark Altschwager - Senior Research AnalystOliver Chen - Managing Director & Senior Equity Research AnalystSavannah Sommer - Equity Research AnalystJanine Stichter - Managing Director & Analyst - Consumer Retail & Lifestyle BrandsDavid Yueh - An ...

Warby Parker (WRBY) Q1 2025 Earnings Call May 08, 2025 08:00 AM ET Speaker0 Hello, and welcome to today's Warby Parker First Quarter twenty twenty five Earnings Call. My name is Bailey, and I will be your moderator for today. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. I'd now like to pass the conference over to Jacqueline Berkley, Vice President of Investor Relations. Please go ahead when you're ready. Speaker1 Thank you, and ...

First Quarter 2025 Earnings Report Speakers: DAVE GILBOA | Co-Founder & Co-CEO NEIL BLUMENTHAL | Co-Founder & Co-CEO STEVE MILLER | SVP & Chief Financial Officer Speakers: DAVE GILBOA | Co-Founder & Co-CEO NEIL BLUMENTHAL | Co-Founder & Co-CEO STEVE MILLER | SVP & Chief Financial Officer Forward-Looking Statements / Non-GAAP Financial Measures This presentation contains ÿorward-lookinĀ statements within the meaninĀ oÿ Section 27A oÿ the Securities Act oÿ 1933, as amended, and Section 21E oÿ the Securities E ...

National Vision (EYE) Q1 2025 Earnings Call May 07, 2025 08:30 AM ET Company Participants Tamara Gonzalez - VP - Investor RelationsReade Fahs - Chief Executive OfficerAlex Wilkes - PresidentChris Laden - CFOSimeon Gutman - Managing DirectorBrandon Cheatham - VP Equity ResearchKate McShane - Managing DirectorAngus Kelleher-Ferguson - Equity Research AssociateJonathan Elias - Consumer Equity Research Sr. AssociateMeghan Holtz - VP, Healthcare Services Equity Research Conference Call Participants Zachary Fadem ...

National Vision (EYE) Q1 2025 Earnings Call May 07, 2025 08:30 AM ET Speaker0 Good day, and thank you for standing by. Welcome to the Q1 twenty twenty five National Vision Holdings Earnings Conference Call. At this time, all participants are in a listen only mode. After the speakers' presentation, there will be a Q and A session. To ask a question during the session, you will need to press 11 on your telephone. You will then hear an automated message advising that your hand is raised. To withdraw your quest ...

Warby Parker Inc. (NYSE:WRBY) Q4 2024 Earnings Conference Call February 27, 2025 8:00 AM ET Company Participants Jaclyn Berkley - Head of Investor Relations Dave Gilboa - Co-Founders & Co-CEOs Neil Blumenthal - Co-Founders & Co-CEOs Steve Miller - Senior Vice President & Chief Financial Officer Conference Call Participants Mark Altschwager - Baird Oliver Chen - TD Cowen Brooke Roach - Goldman Sachs Dana Telsey - Telsey Nick Jones - Citizens JMP Janine Stichter - BTIG Operator Hello, and welcome to today's W ...