Warby Parker (WRBY) Financials

$28.75 +0.26 (+0.91%)

As of 02:32 PM Eastern

Annual Income Statements for Warby Parker

This table shows Warby Parker's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-58	-56	-157	-110	-63	-20	1.64
Consolidated Net Income / (Loss)	0.00	-56	-144	-110	-63	-20	1.64
Net Income / (Loss) Continuing Operations	0.00	-56	-144	-110	-63	-20	1.64
Total Pre-Tax Income	0.28	-56	-144	-110	-63	-20	3.04
Total Operating Income	-1.66	-56	-144	-111	-72	-30	-5.34
Total Gross Profit	223	232	318	341	365	427	471
Total Revenue	370	394	541	598	670	771	872
Operating Revenue	370	394	541	598	670	771	872
Total Cost of Revenue	147	162	223	257	305	344	401
Operating Cost of Revenue	147	162	223	257	305	344	401
Total Operating Expenses	225	288	461	452	437	457	476
Selling, General & Admin Expense	225	288	461	452	437	457	476
Total Other Income / (Expense), net	1.94	-0.10	-0.35	1.31	9.23	11	8.38
Other Income / (Expense), net	1.94	-0.10	-0.35	1.31	9.23	11	8.38
Income Tax Expense	0.28	0.19	0.26	0.50	0.43	0.88	1.40
Basic Earnings per Share	($1.10)	($1.05)	($2.21)	($0.96)	($0.54)	($0.17)	$0.01
Weighted Average Basic Shares Outstanding	52.42M	53.03M	71.25M	114.94M	117.39M	120.39M	122.67M
Diluted Earnings per Share	($1.10)	($1.05)	($2.21)	($0.96)	($0.54)	($0.17)	$0.01
Weighted Average Diluted Shares Outstanding	52.42M	53.03M	71.25M	114.94M	117.39M	120.39M	125.10M
Weighted Average Basic & Diluted Shares Outstanding	-	-	114.93M	115.96M	118.16M	120.86M	122.45M

This table shows Warby Parker's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-18	-18	-2.77	-6.78	-4.10	-6.74	3.48	-1.58	5.97	-6.23	2.85
Consolidated Net Income / (Loss)	-17	-19	-2.68	-6.76	-4.07	-6.88	3.47	-1.75	5.87	-5.95	3.18
Net Income / (Loss) Continuing Operations	-17	-19	-2.68	-6.76	-4.07	-6.88	3.47	-1.75	5.87	-5.95	3.18
Total Pre-Tax Income	-17	-19	-2.57	-6.39	-3.77	-6.78	4.93	-2.54	5.75	-5.09	4.00
Total Operating Income	-20	-22	-5.13	-8.96	-6.61	-9.42	2.47	-4.53	3.57	-6.85	1.67
Total Gross Profit	93	87	113	105	105	103	126	114	120	111	131
Total Revenue	170	162	200	188	192	191	224	214	222	212	242
Operating Revenue	170	162	200	188	192	191	224	214	222	212	242
Total Cost of Revenue	77	75	87	83	88	88	98	101	102	101	111
Operating Cost of Revenue	77	75	87	83	88	88	98	101	102	101	111
Total Operating Expenses	112	109	119	114	111	113	124	118	116	118	129
Selling, General & Admin Expense	112	109	119	114	111	113	124	118	116	118	129
Total Other Income / (Expense), net	2.66	2.42	2.56	2.57	2.84	2.63	2.46	1.98	2.18	1.76	2.33
Other Income / (Expense), net	2.66	2.42	2.56	2.57	2.84	2.63	2.46	1.98	2.18	1.76	2.33
Income Tax Expense	0.30	-0.11	0.11	0.37	0.30	0.09	1.45	-0.79	-0.13	0.86	0.82
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)	0.27	-	0.09	0.02	0.03	-	-0.01	-0.17	-0.10	-	0.33
Basic Earnings per Share	($0.15)	($0.16)	($0.02)	($0.06)	($0.03)	($0.06)	$0.03	($0.01)	$0.05	($0.06)	$0.03
Weighted Average Basic Shares Outstanding	118.00M	117.39M	119.14M	120.09M	120.89M	120.39M	121.95M	122.57M	122.96M	122.67M	123.44M
Diluted Earnings per Share	($0.15)	($0.16)	($0.02)	($0.06)	($0.03)	($0.06)	$0.03	($0.01)	$0.05	($0.06)	$0.03
Weighted Average Diluted Shares Outstanding	118.00M	117.39M	119.14M	120.09M	120.89M	120.39M	124.63M	122.57M	125.41M	125.10M	125.55M
Weighted Average Basic & Diluted Shares Outstanding	117.64M	118.16M	118.86M	119.84M	120.34M	120.86M	121.41M	121.96M	122.16M	122.45M	122.72M

This table details how cash moves in and out of Warby Parker's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-94	259	-58	-48	8.31	37	32
Net Cash From Operating Activities	21	33	-32	10	61	99	111
Net Cash From Continuing Operating Activities	21	33	-32	10	61	99	111
Net Income / (Loss) Continuing Operations	0.00	-56	-144	-110	-63	-20	1.64
Consolidated Net Income / (Loss)	0.00	-56	-144	-110	-63	-20	1.64
Depreciation Expense	15	18	22	32	39	46	50
Amortization Expense	-	-	0.00	0.25	2.90	3.70	3.41
Non-Cash Adjustments To Reconcile Net Income	8.50	46	115	103	77	50	38
Changes in Operating Assets and Liabilities, net	-1.62	25	-24	-15	5.81	19	18
Net Cash From Investing Activities	-33	-20	-49	-60	-55	-66	-67
Net Cash From Continuing Investing Activities	-33	-20	-49	-60	-55	-66	-67
Purchase of Property, Plant & Equipment	-33	-20	-49	-60	-54	-64	-67
Purchase of Investments	-	-	0.00	0.00	-1.00	-2.00	0.00
Net Cash From Financing Activities	-83	246	23	3.29	2.87	4.96	-12
Net Cash From Continuing Financing Activities	-83	2.28	23	3.29	2.87	4.96	-12
Issuance of Debt	0.00	31	-	-	-	-	0.03
Issuance of Common Equity	0.30	1.33	20	3.20	2.87	4.63	2.36
Other Financing Activities, net	-4.78	0.00	-21	-	0.00	0.00	-14
Effect of Exchange Rate Changes	-	0.04	-0.16	-1.31	-0.88	-0.40	0.46
Cash Interest Paid	0.09	0.47	0.15	0.18	0.23	0.25	0.33
Cash Income Taxes Paid	0.37	0.23	0.36	0.54	0.42	1.04	0.78

This table details how cash moves in and out of Warby Parker's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	3.31	0.93	3.49	18	13	3.13	7.44	21	-6.02	6.00	-1.70
Net Cash From Operating Activities	20	14	20	32	27	20	29	40	18	23	25
Net Cash From Continuing Operating Activities	20	14	20	32	27	20	26	40	18	23	21
Net Income / (Loss) Continuing Operations	-17	-19	-2.68	-6.76	-4.07	-6.88	3.47	-1.75	5.87	-5.95	3.18
Consolidated Net Income / (Loss)	-17	-19	-2.68	-6.76	-4.07	-6.88	3.47	-1.75	5.87	-5.95	3.18
Depreciation Expense	9.76	10	11	11	12	12	8.70	12	13	13	9.86
Amortization Expense	0.85	1.22	1.07	0.94	0.85	0.84	0.74	0.75	0.90	1.01	1.02
Non-Cash Adjustments To Reconcile Net Income	20	18	14	16	11	8.92	13	12	7.06	6.32	12
Changes in Operating Assets and Liabilities, net	7.09	2.88	-3.50	10	7.79	4.69	0.34	17	-8.39	8.77	-5.32
Net Cash From Investing Activities	-16	-14	-16	-18	-14	-18	-16	-16	-19	-15	-16
Net Cash From Continuing Investing Activities	-16	-14	-16	-18	-14	-18	-16	-16	-19	-15	-16
Purchase of Property, Plant & Equipment	-15	-14	-14	-18	-14	-18	-16	-16	-19	-15	-16
Net Cash From Financing Activities	0.17	0.73	0.09	3.62	0.05	1.21	-2.30	-2.77	-4.61	-2.31	-6.16
Net Cash From Continuing Financing Activities	0.17	0.73	0.09	3.62	0.05	1.21	-2.30	-2.77	-4.61	-2.31	-6.16
Issuance of Common Equity	0.17	0.73	0.09	3.62	0.05	0.87	0.04	1.25	0.03	1.05	0.00
Other Financing Activities, net	-	-	0.00	-	-	-	-2.34	-4.02	-4.64	-3.39	-6.16
Cash Interest Paid	0.05	0.07	0.08	0.02	0.08	0.08	0.10	0.07	0.07	0.08	0.08
Cash Income Taxes Paid	0.07	0.02	0.07	0.28	0.44	0.25	0.04	0.61	0.07	0.07	0.22

This table presents Warby Parker's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	445	441	569	580	676	721
Total Current Assets	360	328	295	299	326	352
Cash & Equivalents	314	256	209	217	254	286
Accounts Receivable	0.60	0.99	1.44	1.78	1.95	3.29
Inventories, net	38	57	69	62	52	45
Prepaid Expenses	6.78	13	16	18	18	18
Plant, Property, & Equipment, net	85	112	139	152	170	187
Total Noncurrent Assets	0.28	0.47	136	129	180	181
Other Noncurrent Operating Assets	0.28	0.47	136	129	180	181
Total Liabilities & Shareholders' Equity	445	441	569	580	676	721
Total Liabilities	136	155	282	279	336	353
Total Current Liabilities	105	118	130	127	130	150
Accounts Payable	41	31	21	22	24	32
Accrued Expenses	34	61	58	46	52	49
Current Deferred Revenue	27	22	26	32	32	34
Other Current Liabilities	3.72	4.30	25	27	23	35
Total Noncurrent Liabilities	31	37	153	151	206	203
Other Noncurrent Operating Liabilities	3.01	0.00	153	151	206	203
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-198	286	287	302	340	368
Total Preferred & Common Equity	-198	286	287	302	340	368
Total Common Equity	-198	286	287	302	340	368
Common Stock	127	779	891	970	1,029	1,055
Retained Earnings	-325	-493	-604	-667	-687	-686
Accumulated Other Comprehensive Income / (Loss)	0.11	0.02	-0.65	-1.53	-1.94	-1.48

This table presents Warby Parker's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	550	558	562	575	593	618	638	683	702	707	736
Total Current Assets	282	285	288	295	296	309	321	331	346	344	358
Cash & Equivalents	198	204	213	216	220	238	251	265	286	280	288
Accounts Receivable	1.11	0.96	1.18	0.72	1.17	1.21	1.09	1.47	1.14	1.14	1.76
Inventories, net	71	64	60	64	56	53	53	49	43	46	46
Prepaid Expenses	13	15	14	15	18	16	16	15	15	17	21
Plant, Property, & Equipment, net	134	140	144	151	157	163	167	174	177	183	191
Total Noncurrent Assets	134	133	130	128	140	147	150	178	179	180	187
Other Noncurrent Operating Assets	134	133	130	128	140	147	150	178	179	180	187
Total Liabilities & Shareholders' Equity	550	558	562	575	593	618	638	683	702	707	736
Total Liabilities	266	262	260	270	277	289	301	329	340	337	361
Total Current Liabilities	111	111	110	122	119	121	130	123	136	132	153
Accounts Payable	20	20	24	24	27	25	37	27	26	11	37
Accrued Expenses	53	48	43	55	43	48	46	52	61	68	60
Current Deferred Revenue	16	19	19	18	21	21	19	23	22	22	21
Other Current Liabilities	22	24	25	25	27	28	28	22	27	32	35
Total Noncurrent Liabilities	155	150	149	148	158	168	171	206	205	205	207
Other Noncurrent Operating Liabilities	155	150	149	148	158	168	171	206	205	205	207
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	284	296	302	305	316	329	337	354	361	370	376
Total Preferred & Common Equity	284	296	302	305	316	329	337	354	361	370	376
Total Common Equity	284	296	302	305	316	329	337	354	361	370	376
Common Stock	868	912	934	954	987	1,007	1,019	1,040	1,049	1,051	1,060
Retained Earnings	-583	-614	-630	-648	-670	-676	-680	-684	-686	-680	-682
Accumulated Other Comprehensive Income / (Loss)	-0.42	-1.33	-1.37	-1.64	-1.62	-1.64	-1.67	-1.93	-1.76	-1.66	-1.81

This table displays calculated financial ratios and metrics derived from Warby Parker's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-
Revenue Growth	0.00%	6.28%	37.36%	10.60%	11.98%	15.16%	13.04%
EBITDA Growth	0.00%	-356.67%	-222.54%	36.48%	72.60%	241.00%	88.75%
EBIT Growth	0.00%	-20,291.67%	-158.41%	23.69%	42.89%	68.91%	115.59%
NOPAT Growth	0.00%	0.00%	-158.23%	22.59%	35.26%	58.18%	86.35%
Net Income Growth	0.00%	0.00%	-158.00%	23.48%	42.75%	67.74%	108.05%
EPS Growth	0.00%	4.55%	-110.48%	56.56%	43.75%	68.52%	105.88%
Operating Cash Flow Growth	0.00%	53.12%	-197.67%	132.41%	488.15%	61.90%	12.19%
Free Cash Flow Firm Growth	0.00%	0.00%	-308.22%	6.99%	54.70%	61.39%	107.52%
Invested Capital Growth	0.00%	0.00%	621.54%	163.88%	8.75%	1.20%	-5.28%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	2.33%	2.35%	3.88%	2.51%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	26.65%	14.77%	86.69%	4.87%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	18.81%	1.84%	38.79%	125.41%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	17.86%	0.20%	28.75%	31.42%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	18.85%	1.87%	37.38%	128.87%
EPS Q/Q Growth	0.00%	0.00%	0.00%	17.95%	1.82%	37.04%	0.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	-266.31%	122.88%	-14.30%	6.75%	3.11%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	-7.84%	17.11%	121.47%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	-9.31%	-4.23%	0.23%	-8.84%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	60.22%	58.91%	58.76%	57.02%	54.53%	55.34%	53.97%
EBITDA Margin	3.99%	-9.64%	-22.64%	-13.01%	-3.18%	3.90%	6.51%
Operating Margin	-0.45%	-14.13%	-26.56%	-18.59%	-10.75%	-3.90%	-0.61%
EBIT Margin	0.07%	-14.15%	-26.63%	-18.37%	-9.37%	-2.53%	0.35%
Profit (Net Income) Margin	0.00%	-14.20%	-26.68%	-18.46%	-9.44%	-2.64%	0.19%
Tax Burden Percent	0.00%	100.34%	100.18%	100.45%	100.69%	104.48%	53.93%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	100.00%	0.00%	0.00%	0.00%	0.00%	0.00%	46.07%
Return on Invested Capital (ROIC)	0.00%	0.00%	-841.18%	-144.63%	-61.85%	-24.68%	-3.44%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	-825.85%	-130.63%	-55.84%	-24.97%	-5.11%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	792.63%	106.07%	40.37%	18.33%	3.90%
Return on Equity (ROE)	0.00%	-18.13%	-48.54%	-38.56%	-21.48%	-6.35%	0.46%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-459.12%	-234.70%	-70.24%	-25.87%	1.99%
Operating Return on Assets (OROA)	0.00%	-12.53%	-32.53%	-21.78%	-10.92%	-3.11%	0.44%
Return on Assets (ROA)	0.00%	-12.57%	-32.59%	-21.87%	-11.00%	-3.24%	0.23%
Return on Common Equity (ROCE)	0.00%	11.65%	-7.18%	-38.56%	-21.48%	-6.35%	0.46%
Return on Equity Simple (ROE_SIMPLE)	0.00%	28.23%	-50.44%	-38.51%	-20.94%	-6.00%	0.00%
Net Operating Profit after Tax (NOPAT)	0.00	-39	-101	-78	-50	-21	-2.88
NOPAT Margin	0.00%	-9.89%	-18.60%	-13.01%	-7.52%	-2.73%	-0.33%
Net Nonoperating Expense Percent (NNEP)	0.00%	-10.81%	-15.32%	-14.00%	-6.02%	0.29%	1.67%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-27.16%	-16.70%	-6.20%	-0.78%
Cost of Revenue to Revenue	39.78%	41.09%	41.24%	42.98%	45.47%	44.66%	46.03%
SG&A Expenses to Revenue	60.67%	73.04%	85.32%	75.62%	65.28%	59.24%	54.58%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	60.67%	73.04%	85.32%	75.62%	65.28%	59.24%	54.58%
Earnings before Interest and Taxes (EBIT)	0.28	-56	-144	-110	-63	-20	3.04
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	15	-38	-122	-78	-21	30	57
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	18.43	5.44	5.50	8.57	7.24
Price to Tangible Book Value (P/TBV)	0.00	0.00	18.43	5.44	5.50	8.57	7.24
Price to Revenue (P/Rev)	8.39	7.90	9.74	2.61	2.48	3.78	3.05
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	1,622.16
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.06%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	169.47	17.31	16.98	30.95	29.19
Enterprise Value to Revenue (EV/Rev)	0.00	8.39	9.27	2.26	2.15	3.45	2.72
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	88.48	41.88
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	780.68
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	100.80	0.00	130.30	23.64	26.93	21.44
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	1,428.98
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-1.02	-0.96	-0.81	-0.72	-0.73	-0.76
Leverage Ratio	0.00	1.44	1.49	1.76	1.95	1.96	1.97
Compound Leverage Factor	0.00	1.44	1.49	1.76	1.95	1.96	1.97
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	164.23%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-64.23%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	13.82	19.60	2.59	3.12	5.17	4.75
Noncontrolling Interest Sharing Ratio	0.00%	164.23%	85.21%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	3.42	2.78	2.27	2.35	2.50	2.35
Quick Ratio	0.00	2.99	2.18	1.62	1.72	1.96	1.93
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-33	-136	-126	-57	-22	1.66
Operating Cash Flow to CapEx	65.56%	163.22%	-65.95%	17.23%	113.64%	154.21%	165.23%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	0.89	1.22	1.19	1.17	1.23	1.25
Accounts Receivable Turnover	0.00	655.11	678.97	492.88	416.78	413.91	333.23
Inventory Turnover	0.00	4.21	4.67	4.08	4.65	6.01	8.29
Fixed Asset Turnover	0.00	4.66	5.50	4.77	4.60	4.78	4.87
Accounts Payable Turnover	0.00	3.97	6.22	9.95	14.08	14.99	14.46
Days Sales Outstanding (DSO)	0.00	0.56	0.54	0.74	0.88	0.88	1.10
Days Inventory Outstanding (DIO)	0.00	86.79	78.19	89.42	78.55	60.70	44.05
Days Payable Outstanding (DPO)	0.00	92.02	58.65	36.69	25.92	24.36	25.24
Cash Conversion Cycle (CCC)	0.00	-4.68	20.08	53.47	53.51	37.23	19.90
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	-5.67	30	78	85	86	81
Invested Capital Turnover	0.00	-138.83	45.24	11.11	8.22	9.03	10.42
Increase / (Decrease) in Invested Capital	0.00	-5.67	35	48	6.83	1.02	-4.54
Enterprise Value (EV)	0.00	3,302	5,013	1,351	1,442	2,659	2,376
Market Capitalization	3,110	3,110	5,270	1,560	1,659	2,913	2,662
Book Value per Share	$0.00	($3.74)	$4.01	$2.48	$2.57	$2.83	$3.01
Tangible Book Value per Share	$0.00	($3.74)	$4.01	$2.48	$2.57	$2.83	$3.01
Total Capital	0.00	308	286	287	302	340	368
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-314	-256	-209	-217	-254	-286
Capital Expenditures (CapEx)	33	20	49	60	54	64	67
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-59	-47	-44	-45	-58	-84
Debt-free Net Working Capital (DFNWC)	0.00	255	210	165	172	196	202
Net Working Capital (NWC)	0.00	255	210	165	172	196	202
Net Nonoperating Expense (NNE)	0.00	17	44	33	13	-0.69	-4.52
Net Nonoperating Obligations (NNO)	0.00	-314	-256	-209	-217	-254	-286
Total Depreciation and Amortization (D&A)	15	18	22	32	41	50	54
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-15.11%	-8.61%	-7.29%	-6.77%	-7.58%	-9.64%
Debt-free Net Working Capital to Revenue	0.00%	64.67%	38.81%	27.59%	25.61%	25.37%	23.20%
Net Working Capital to Revenue	0.00%	64.67%	38.81%	27.59%	25.61%	25.37%	23.20%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($2.21)	($0.96)	($0.54)	($0.17)	$0.01
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	71.25M	114.94M	117.39M	120.39M	122.67M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($2.21)	($0.96)	($0.54)	($0.17)	$0.01
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	71.25M	114.94M	117.39M	120.39M	125.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	114.93M	115.96M	118.16M	120.86M	122.45M
Normalized Net Operating Profit after Tax (NOPAT)	-1.16	-39	-101	-78	-50	-21	-2.88
Normalized NOPAT Margin	-0.31%	-9.89%	-18.60%	-13.01%	-7.52%	-2.73%	-0.33%
Pre Tax Income Margin	0.07%	-14.15%	-26.63%	-18.37%	-9.37%	-2.53%	0.35%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	-5.60%	0.00%	0.00%	0.00%	0.00%

This table displays calculated financial ratios and metrics derived from Warby Parker's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	122,447,777.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	122,447,777.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.02
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	14.16%	10.49%	16.30%	13.32%	13.30%	17.79%	11.89%	13.95%	15.19%	11.19%	8.34%
EBITDA Growth	57.85%	32.81%	966.89%	191.37%	237.13%	184.46%	96.20%	88.74%	115.25%	41.22%	3.61%
EBIT Growth	28.27%	5.79%	75.63%	59.94%	77.96%	64.58%	291.60%	60.23%	252.45%	24.96%	-18.84%
NOPAT Growth	16.50%	0.65%	58.75%	50.87%	66.55%	56.34%	148.53%	49.48%	178.80%	27.23%	-23.94%
Net Income Growth	26.97%	5.95%	75.22%	57.54%	76.62%	63.89%	229.60%	74.09%	244.25%	13.44%	-8.50%
EPS Growth	28.57%	5.88%	77.78%	57.14%	80.00%	62.50%	250.00%	83.33%	266.67%	0.00%	0.00%
Operating Cash Flow Growth	1,625.63%	-42.68%	130.56%	68.64%	36.88%	45.72%	47.33%	27.12%	-34.12%	16.78%	-16.51%
Free Cash Flow Firm Growth	78.78%	65.56%	85.45%	73.86%	89.63%	65.30%	216.73%	259.10%	105.92%	96.63%	-67.40%
Invested Capital Growth	2.99%	8.75%	4.04%	2.27%	-3.30%	1.20%	-7.09%	-17.90%	4.14%	-5.28%	-1.64%
Revenue Q/Q Growth	2.26%	-4.71%	23.57%	-5.89%	2.24%	-0.94%	17.38%	-4.16%	3.36%	-4.38%	14.38%
EBITDA Q/Q Growth	-4.79%	-16.42%	220.08%	-37.62%	57.26%	-28.30%	178.95%	-39.99%	79.35%	-52.96%	64.86%
EBIT Q/Q Growth	-7.29%	-11.92%	86.58%	-148.50%	40.98%	-79.90%	172.61%	-151.58%	326.25%	-188.55%	178.53%
NOPAT Q/Q Growth	-8.43%	-9.12%	76.23%	-74.68%	26.16%	-42.39%	126.42%	-281.87%	215.16%	-231.49%	127.62%
Net Income Q/Q Growth	-9.34%	-9.38%	85.93%	-152.41%	39.78%	-68.89%	150.49%	-150.46%	435.27%	-201.34%	153.37%
EPS Q/Q Growth	-7.14%	-6.67%	87.50%	-200.00%	50.00%	-100.00%	150.00%	-133.33%	600.00%	-220.00%	150.00%
Operating Cash Flow Q/Q Growth	6.29%	-31.44%	45.83%	58.69%	-13.73%	-27.01%	47.44%	36.93%	-55.29%	29.38%	5.41%
Free Cash Flow Firm Q/Q Growth	48.30%	-33.65%	66.68%	-13.53%	79.49%	-347.37%	212.08%	54.73%	-99.24%	-354.81%	1,184.51%
Invested Capital Q/Q Growth	-0.85%	-4.23%	12.85%	-4.56%	-6.25%	0.23%	3.61%	-15.67%	18.91%	-8.84%	7.60%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	54.60%	53.79%	56.73%	55.99%	54.49%	54.09%	56.30%	52.97%	54.11%	52.39%	54.05%
EBITDA Margin	-3.83%	-4.67%	4.54%	3.01%	4.63%	3.35%	7.97%	4.99%	8.65%	4.26%	6.14%
Operating Margin	-11.64%	-13.33%	-2.56%	-4.76%	-3.44%	-4.94%	1.10%	-2.11%	1.61%	-3.23%	0.69%
EBIT Margin	-10.07%	-11.83%	-1.29%	-3.39%	-1.96%	-3.56%	2.20%	-1.18%	2.59%	-2.40%	1.65%
Profit (Net Income) Margin	-10.25%	-11.77%	-1.34%	-3.59%	-2.12%	-3.61%	1.55%	-0.82%	2.65%	-2.81%	1.31%
Tax Burden Percent	101.76%	99.45%	104.20%	105.84%	107.98%	101.37%	70.48%	68.95%	102.17%	116.93%	79.46%
Interest Burden Percent	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	29.52%	0.00%	-2.17%	0.00%	20.54%
Return on Invested Capital (ROIC)	-61.03%	-76.68%	-13.33%	-26.52%	-20.49%	-31.23%	6.70%	-14.57%	16.00%	-23.59%	5.51%
ROIC Less NNEP Spread (ROIC-NNEP)	-59.30%	-74.83%	-13.76%	-26.30%	-20.73%	-31.10%	5.98%	-15.11%	15.16%	-23.16%	4.84%
Return on Net Nonoperating Assets (RNNOA)	41.69%	54.10%	9.54%	18.77%	15.09%	22.83%	-4.33%	11.47%	-11.40%	17.69%	-3.67%
Return on Equity (ROE)	-19.33%	-22.58%	-3.79%	-7.75%	-5.40%	-8.40%	2.36%	-3.10%	4.59%	-5.90%	1.84%
Cash Return on Invested Capital (CROIC)	-60.75%	-70.24%	-52.16%	-45.14%	-30.58%	-25.87%	-9.71%	4.45%	-8.85%	1.99%	-2.78%
Operating Return on Assets (OROA)	-11.72%	-13.79%	-1.56%	-4.14%	-2.40%	-4.37%	2.74%	-1.47%	3.28%	-3.00%	2.07%
Return on Assets (ROA)	-11.93%	-13.72%	-1.62%	-4.38%	-2.59%	-4.43%	1.93%	-1.02%	3.35%	-3.50%	1.64%
Return on Common Equity (ROCE)	-19.33%	-22.58%	-3.79%	-7.75%	-5.40%	-8.40%	2.36%	-3.10%	4.59%	-5.90%	1.84%
Return on Equity Simple (ROE_SIMPLE)	-21.14%	0.00%	-17.42%	-13.94%	-9.67%	0.00%	-4.02%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-14	-15	-3.59	-6.27	-4.63	-6.59	1.74	-3.17	3.65	-4.80	1.32
NOPAT Margin	-8.15%	-9.33%	-1.79%	-3.33%	-2.41%	-3.46%	0.78%	-1.48%	1.65%	-2.26%	0.55%
Net Nonoperating Expense Percent (NNEP)	-1.73%	-1.86%	0.43%	-0.22%	0.24%	-0.12%	0.71%	0.54%	0.84%	-0.43%	0.67%
Return On Investment Capital (ROIC_SIMPLE)	-	-5.00%	-	-	-	-1.94%	0.49%	-0.88%	0.99%	-1.30%	0.35%
Cost of Revenue to Revenue	45.40%	46.21%	43.27%	44.01%	45.51%	45.91%	43.70%	47.03%	45.89%	47.61%	45.95%
SG&A Expenses to Revenue	66.23%	67.12%	59.29%	60.75%	57.93%	59.03%	55.19%	55.08%	52.50%	55.62%	53.36%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	66.23%	67.12%	59.29%	60.75%	57.93%	59.03%	55.19%	55.08%	52.50%	55.62%	53.36%
Earnings before Interest and Taxes (EBIT)	-17	-19	-2.57	-6.39	-3.77	-6.78	4.93	-2.54	5.75	-5.09	4.00
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-6.50	-7.57	9.09	5.67	8.91	6.39	18	11	19	9.02	15
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	5.06	5.50	5.09	5.80	5.81	8.57	6.22	7.37	9.10	7.24	6.87
Price to Tangible Book Value (P/TBV)	5.06	5.50	5.09	5.80	5.81	8.57	6.22	7.37	9.10	7.24	6.87
Price to Revenue (P/Rev)	2.35	2.48	2.30	2.65	2.64	3.78	2.77	3.24	3.95	3.05	2.90
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2,960.93	1,622.16	2,549.38
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.03%	0.06%	0.04%
Enterprise Value to Invested Capital (EV/IC)	14.95	16.98	14.49	18.28	19.90	30.95	21.77	31.65	34.54	29.19	26.17
Enterprise Value to Revenue (EV/Rev)	2.02	2.15	1.99	2.32	2.30	3.45	2.44	2.89	3.62	2.72	2.57
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	2,432.27	105.97	88.48	49.96	54.22	57.00	41.88	40.03
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2,283.89	780.68	1,083.56
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	18.62	23.64	19.20	19.62	18.44	26.93	17.92	20.35	28.70	21.44	21.63
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	640.98	0.00	1,428.98	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.70	-0.72	-0.69	-0.71	-0.73	-0.73	-0.72	-0.76	-0.75	-0.76	-0.76
Leverage Ratio	1.91	1.95	1.88	1.87	1.89	1.96	1.90	1.91	1.90	1.97	1.94
Compound Leverage Factor	1.91	1.95	1.88	1.87	1.89	1.96	1.90	1.91	1.90	1.97	1.94
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	3.25	3.36	3.43	3.93	3.91	5.23	4.17	4.84	6.23	4.71	4.56
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.43	2.35	2.50	2.55	2.47	2.50	2.70	2.55	2.61	2.35	2.33
Quick Ratio	1.78	1.72	1.87	1.98	1.94	1.96	2.17	2.12	2.13	1.93	1.89
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-16	-22	-7.31	-8.30	-1.70	-7.61	8.53	13	0.10	-0.26	2.78
Operating Cash Flow to CapEx	128.69%	100.68%	138.03%	179.16%	191.82%	112.36%	181.76%	246.83%	92.22%	153.80%	151.88%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.16	1.17	1.21	1.22	1.22	1.23	1.25	1.24	1.26	1.25	1.26
Accounts Receivable Turnover	715.19	416.78	655.52	603.46	818.21	413.91	602.34	699.61	760.46	333.23	550.75
Inventory Turnover	4.41	4.65	5.19	5.68	5.70	6.01	6.77	7.74	7.89	8.29	8.73
Fixed Asset Turnover	4.59	4.60	4.70	4.70	4.68	4.78	4.81	4.83	4.87	4.87	4.88
Accounts Payable Turnover	13.31	14.08	13.46	13.26	10.90	14.99	13.36	14.74	16.32	14.46	13.02
Days Sales Outstanding (DSO)	0.51	0.88	0.56	0.60	0.45	0.88	0.61	0.52	0.48	1.10	0.66
Days Inventory Outstanding (DIO)	82.85	78.55	70.27	64.29	64.02	60.70	53.90	47.17	46.27	44.05	41.81
Days Payable Outstanding (DPO)	27.43	25.92	27.13	27.52	33.49	24.36	27.32	24.77	22.37	25.24	28.04
Cash Conversion Cycle (CCC)	55.93	53.51	43.70	37.37	30.98	37.23	27.19	22.93	24.38	19.90	14.43
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	89	85	96	91	86	86	89	75	89	81	88
Invested Capital Turnover	7.49	8.22	7.43	7.96	8.52	9.03	8.60	9.87	9.72	10.42	10.09
Increase / (Decrease) in Invested Capital	2.57	6.83	3.72	2.03	-2.93	1.02	-6.79	-16	3.55	-4.54	-1.46
Enterprise Value (EV)	1,325	1,442	1,388	1,671	1,706	2,659	1,938	2,376	3,083	2,376	2,292
Market Capitalization	1,541	1,659	1,608	1,909	1,957	2,913	2,203	2,662	3,364	2,662	2,580
Book Value per Share	$2.60	$2.57	$2.68	$2.77	$2.81	$2.83	$2.93	$2.98	$3.03	$3.01	$3.07
Tangible Book Value per Share	$2.60	$2.57	$2.68	$2.77	$2.81	$2.83	$2.93	$2.98	$3.03	$3.01	$3.07
Total Capital	305	302	316	329	337	340	354	361	370	368	376
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	-216	-217	-220	-238	-251	-254	-265	-286	-280	-286	-288
Capital Expenditures (CapEx)	15	14	14	18	14	18	16	16	19	15	16
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-42	-45	-43	-50	-60	-58	-57	-76	-68	-84	-84
Debt-free Net Working Capital (DFNWC)	174	172	178	188	191	196	208	211	212	202	204
Net Working Capital (NWC)	174	172	178	188	191	196	208	211	212	202	204
Net Nonoperating Expense (NNE)	3.58	3.95	-0.91	0.49	-0.56	0.29	-1.73	-1.42	-2.23	1.16	-1.85
Net Nonoperating Obligations (NNO)	-216	-217	-220	-238	-251	-254	-265	-286	-280	-286	-288
Total Depreciation and Amortization (D&A)	11	12	12	12	13	13	13	13	13	14	11
Debt-free, Cash-free Net Working Capital to Revenue	-6.46%	-6.77%	-6.13%	-6.99%	-8.07%	-7.58%	-7.18%	-9.23%	-8.04%	-9.64%	-9.41%
Debt-free Net Working Capital to Revenue	26.54%	25.61%	25.45%	26.06%	25.74%	25.37%	26.16%	25.64%	24.92%	23.20%	22.95%
Net Working Capital to Revenue	26.54%	25.61%	25.45%	26.06%	25.74%	25.37%	26.16%	25.64%	24.92%	23.20%	22.95%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.15)	($0.16)	($0.02)	($0.06)	($0.03)	($0.06)	$0.03	($0.01)	$0.05	($0.06)	$0.03
Adjusted Weighted Average Basic Shares Outstanding	118.00M	117.39M	119.14M	120.09M	120.89M	120.39M	121.95M	122.57M	122.96M	122.67M	123.44M
Adjusted Diluted Earnings per Share	($0.15)	($0.16)	($0.02)	($0.06)	($0.03)	($0.06)	$0.03	($0.01)	$0.05	($0.06)	$0.03
Adjusted Weighted Average Diluted Shares Outstanding	118.00M	117.39M	119.14M	120.09M	120.89M	120.39M	124.63M	122.57M	125.41M	125.10M	125.55M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	117.64M	118.16M	118.86M	119.84M	120.34M	120.86M	121.41M	121.96M	122.16M	122.45M	122.72M
Normalized Net Operating Profit after Tax (NOPAT)	-14	-15	-3.59	-6.27	-4.63	-6.59	1.74	-3.17	2.50	-4.80	1.32
Normalized NOPAT Margin	-8.15%	-9.33%	-1.79%	-3.33%	-2.41%	-3.46%	0.78%	-1.48%	1.13%	-2.26%	0.55%
Pre Tax Income Margin	-10.07%	-11.83%	-1.29%	-3.39%	-1.96%	-3.56%	2.20%	-1.18%	2.59%	-2.40%	1.65%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Financials Breakdown Chart

Key Financial Trends

Here’s a concise four-year trend snapshot for Warby Parker (WRBY), focusing on the quarterly statements from 2022 through 2025. The data show top-line growth and improving cash generation, but profitability remains uneven across quarters.

Top-line growth: Total revenue rose to about $211.97 million in Q4 2025, up from about $146.49 million in Q4 2022, indicating steady revenue expansion over the period.
Ongoing positive operating cash flow: Net cash from continuing operating activities was positive in every quarter of 2025, with Q1 2025 at $29.36M, Q2 2025 at $31.62M, Q3 2025 at $17.97M, and Q4 2025 at $23.25M, signaling improving cash generation.
Liquidity improvement: Cash & equivalents stood at about $280.36 million as of Q3 2025, providing a healthy liquidity buffer.
Stable gross margins: Gross margin has typically been in the mid-50% range (roughly 52–54%), indicating consistent profitability per dollar of revenue across the period.
Partial profitability signal: In Q3 2025, net income and diluted earnings per share turned positive (net income around $5.87M; diluted EPS about $0.05), suggesting a potential narrowing of losses in some quarters.
Debt profile: There is no explicit long-term debt shown in the provided data, suggesting a relatively debt-light or debt-free balance sheet within the periods reviewed.
Equity base: Total common equity hovered in the mid to upper hundreds of millions (e.g., around $336.8M–$369.6M in 2024–2025), indicating a solid and somewhat growing equity base over time.
Capital expenditures: Capex remains moderate, with purchases of property, plant & equipment typically in the $15–20 million per quarter range, signaling ongoing reinvestment in stores and infrastructure.
Profitability challenge in some periods: Net income attributable to common shareholders was negative in Q4 2025 (about -$6.23 million), highlighting continued quarterly profitability challenges despite improving cash flow and top-line growth.
Expense pressure: Selling, General & Admin (SG&A) expenses remained a significant expense line (e.g., about $117.9 million in Q4 2025), contributing to operating losses in certain quarters despite revenue gains.

05/14/26 02:32 PM ETAI Generated. May Contain Errors.

Warby Parker Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Warby Parker's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Warby Parker's net income appears to be on a downward trend, with a most recent value of $1.64 million in 2025, rising from $0.00 in 2019. The previous period was -$20.39 million in 2024. Check out Warby Parker's forecast to explore projected trends and price targets.

Warby Parker's total operating income in 2025 was -$5.34 million, based on the following breakdown:

Total Gross Profit: $470.58 million
Total Operating Expenses: $475.92 million

Over the last 6 years, Warby Parker's total revenue changed from $370.46 million in 2019 to $871.91 million in 2025, a change of 135.4%.

Warby Parker's total liabilities were at $353.19 million at the end of 2025, a 5.0% increase from 2024, and a 159.1% increase since 2020.

In the past 5 years, Warby Parker's cash and equivalents has ranged from $208.59 million in 2022 to $314.09 million in 2020, and is currently $286.36 million as of their latest financial filing in 2025.

Over the last 6 years, Warby Parker's book value per share changed from 0.00 in 2019 to 3.01 in 2025, a change of 301.0%.

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Financial statements for NYSE:WRBY last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Warby Parker (WRBY) Financials

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Warby Parker (WRBY) Financials

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Quarterly Cash Flow Statements for Warby Parker

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Financials Breakdown Chart

Key Financial Trends

Warby Parker Financials - Frequently Asked Questions

When does Warby Parker's financial year end?

How has Warby Parker's net income changed over the last 6 years?

What is Warby Parker's operating income?

How has Warby Parker's revenue changed over the last 6 years?

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How has Warby Parker's book value per share changed over the last 6 years?

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