Warby Parker's Q2 revenues improve by 13.3 percent

Warby Parker’s net revenue increased 22.1 million dollars or 13.3 percent to 188.2 million dollars, gross margin increased 1.4 points to 56 percent, GAAP net loss improved to 6.8 million dollars and adjusted EBITDA margin increased 1.9 points to 10.4 percent.

The company opened 11 net new stores during the quarter under review, ending with 256 stores.

“We’re proud of the progress we’re making on our core strategic initiatives to accelerate growth. In Q2, we drove our fourth consecutive quarter of active customer growth and our highest ecommerce growth since Q121,” said the company’s co-founder and co-CEO Dave Gilboa.

Active customers increased 4.5 percent to 2.39 million in the second quarter and average revenue per customer increased 8.8 percent to 302 dollars.

Raising its outlook for the full year, Warby Parker said net revenue is expected to range between 757 to 762 million dollars, representing growth of approximately 13 percent to 14 percent, adjusted EBITDA to be at 72.5 million dollars and an adjusted EBITDA margin of 9.5 percent.

“Amidst strategic reinvestment in customer acquisition, store expansion, proprietary technology, and more, we’re still expanding the bottomline and delivering value for our stakeholders,” added Warby Parker’s co-founder and co-CEO Neil Blumenthal.

The company is on track to open 40 new stores during the remainder of the year.