Gross margin was 55.1% compared to 58.5% in the prior year. Gross profit increased 5.7% to $94.8 million. Active Customers increased 2.5%, to 2.29 million. GAAP net loss improved $23.3 million to $10.8 million.Īdjusted EBITDA (1) increased $17.0 million to $17.7 million and adjusted EBITDA margin (1) improved 9.8 points from 0.5% to 10.3%.įirst Quarter 2023 Year Over Year Financial ResultsĪverage Revenue per Customer increased 8.4% to $270. Net revenue increased $18.8 million, or 12.2%, to $172.0 million. "We are still in the early stages of building our store footprint and developing our holistic vision offering and see a long runway for sustained, profitable growth in the years ahead."įirst Quarter 2023 Year Over Year Highlights "While we continue to be cautious about near-term trends given the uncertain macroeconomic outlook, we remain optimistic about Warby Parker’s future," added Co-Founder and Co-CEO Neil Blumenthal. Our teams are doing an excellent job of capturing demand in the current environment through our compelling value proposition, expanding portfolio of products and services, and delivering world class customer service." We are particularly pleased to be driving strong market share gains while expanding adjusted EBITDA margin. "We achieved double digit revenue growth, ahead of expectations and well above the current industry forecasted growth rate. "Our first quarter performance represents a solid start to 2023," said Co-Founder and Co-CEO Dave Gilboa. ![]() (NYSE: WRBY) (the "Company"), a direct-to-consumer lifestyle brand focused on vision for all, today announced financial results for the first quarter ended March 31, 2023. ![]() NEW YORK, May 09, 2023-( BUSINESS WIRE)-Warby Parker Inc. Net revenue increased 12.2% year over year to $172.0 millionĪverage Revenue per Customer increased 8.4% year over year to $270
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