Warby Parker files IPO documents

Warby Parker Inc. has publicly filed a registration statement on Form S-1 with the Securities and Exchange Commission relating to the proposed public listing of its Class A common stock. The Form S-1 is expected to become effective after the SEC completes its review process, subject to market and other conditions. Warby Parker intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “WRBY.”

Warby Parker was founded in 2010 focused on offering consumers direct-to-consumer prescription glasses, thereby driving down the cost of what is typically a premium priced product. The brand is currently available online and in more than 145 retail stores across the U.S. and Canada. For every pair of glasses or sunglasses sold, they distribute a pair to someone in need through their Buy a Pair, Give a Pair program. To date, Warby Parker has worked alongside its nonprofit partners to distribute more than eight million glasses to people in need.

Despite Warby Parker’s success and popularity, the company has not always been profitable. Warby Parker’s revenues were 273 million dollars, 370 million dollars, and 394 million dollars annual from 2019 to 2020. Over the course of the same period, they lost 23 million, came in flat, then lost 56 million dollars. Over the last six months, the company has lost 7.3 million dollars. The company is hoping the IPO will help them be able to grow and continue to scale despite their losses.