Warby Parker exceeds expectations in first quarter 2026

The US direct-to-consumer (D2C) eyewear brand Warby Parker has reported financial results for the first quarter ended March 31, 2026, surpassing its previous guidance despite a challenging operational environment. The company delivered revenue growth of 8.3 percent, reaching 242.40 million dollars, supported by a 4.80 percent increase in active customers.

On a trailing 12-month basis, the brand reached 2.69 million active customers. Furthermore, average revenue per customer rose by 6.90 percent to 331 dollars year-over-year (YoY). This growth was achieved alongside the opening of 14 net new stores during the period, bringing the total brick and mortar footprint to 337 locations.

Shift in profitability and margins

The company generated net income of 3.20 million dollars, representing a slight decrease of 0.30 million dollars compared to the previous year. Adjusted EBITDA reached 29.60 million dollars, while the adjusted EBITDA margin saw a decrease of 90 percentage points to 12.20 percent. Gross margin for the quarter was 54 percent, down from 56.30 percent in the prior year.

Warby Parker co-founder and co-CEO Neil Blumenthal noted that the team remained resilient while navigating severe weather and dynamic market conditions. Blumenthal highlighted the launch of Warby Parker Sport as a key driver of current momentum.

Co-founder and co-CEO Dave Gilboa announced a significant shift in the company’s product roadmap, focusing on the upcoming launch of intelligent eyewear. Gilboa stated that the company aims to introduce the first truly intelligent AI glasses designed for all-day wear, and is currently building the necessary infrastructure to support this category.

Annual outlook

For the full year 2026, Warby Parker chief financial officer Adrian Mitchell reaffirmed the company's financial guidance. The company expects net revenue to reach between 959 million and 976 million dollars, representing growth of 10 percent to 12 percent compared to full year 2025.

The company plans to open 50 new stores throughout the year. Mitchell expressed confidence in the current trajectory, noting that the first quarter results exceeded internal expectations and established a solid foundation for the remainder of the fiscal year.