Warby Parker Reports Q1 2025: Net Revenue Up 12% to $224M, Achieves First Positive Net Income as Public Company at $3.5M
Warby Parker reported Q1 2025 financial results with a 12% increase in net revenue to $224 million and achieved its first positive net income as a public company at $3.5 million. Active customers grew by 8.7% to 2.57 million, and average revenue per customer rose by 4.8% to $310. The company plans to open 45 new stores in 2025 and revised its revenue guidance to $869-$886 million, reflecting a growth of 13% to 15%.
Warby Parker Inc. has announced its financial results for the first quarter of 2025, ending March 31. The company reported a net revenue increase of 11.9% year over year, reaching $223.8 million, with active customers growing by 8.7% to 2.57 million on a trailing 12-month basis. The average revenue per customer also saw a rise of 4.8% to $310. The company achieved its first quarter of positive net income as a public entity, with GAAP net income improving by $6.2 million to $3.5 million. Warby Parker's adjusted EBITDA increased by $6.8 million to $29.2 million, and the adjusted EBITDA margin rose by 1.9 points to 13.1%. Selling, general, and administrative expenses amounted to $123.5 million, representing 55.2% of revenue, down from 59.3% in the previous year. Warby Parker opened 11 net new stores and exceeded profitability expectations, marking a strong start to 2025. For the full year 2025, the company revised its guidance, projecting net revenue between $869 million to $886 million, indicating growth of approximately 13% to 15%. The company is on track to open 45 new stores, including five shop-in-shops at select Target locations in the second half of the year.
