Warby Parker's net income in 2021 exceeded 500 million!

On March 17, DTC brand Warby Parker announced its fourth quarter and full year 2021 results.

Image from Warby Parker official website

Data shows that Warby Parker 's net income for the full year of 2021 increased by 37.4% year-on-year to US$540.8 million . Gross profit increased by 37.0% to US$317.7 million. Gross profit margin decreased slightly to 58.8%, compared with 58.9% in the same period last year. Average revenue per customer increased by 13.0% year-on-year to US $ 246 . Gross profit increased by 17.0% to US$76.3 million , and gross profit margin was 57.4%, compared with 57.8% in the same period last year.

It is understood that Warby Parker opened 35 new stores in 2021 , and had a total of 161 stores by the end of 2021. The brand's contact lens products had a significant increase in revenue throughout the year, doubling year-on-year , and set up a second internal optical laboratory, strengthening Warby Parker's vertically integrated supply chain.

Warby Parker co-founder and co-CEO Dave Gilboa added that they are operating in a large and growing category and are emerging from a strong position. In 2021, the company has grown its business significantly, expanded profitability, and gained market share ... This year the company looks forward to solving more problems for consumers , acquiring more customers, and creating more value and impact for stakeholders.

In the report, Warby Parker said that revenue in the fourth quarter of 2021 was negatively affected by the Omicron variant, which intensified the disruption in the last few weeks of December and also had a certain impact on its revenue. Net revenue in the fourth quarter of 2021 increased by 17.8% year-on-year to $132.9 million . Gross profit increased by 17.0% to $ 76.3 million . Gross margin was 57.4%, compared with 57.8% in the same period last year.

In addition to the relevant performance report, Warby Parker also made forecasts for its 2022 performance , with net revenue expected to reach US$660 million in 2022 , an increase of 20% to 22% compared to the full year of 2021 .

In addition, the brand will open 40 new stores in 2022 , bringing the total number of stores to 201.

Steve Miller, CFO of the Warby Parker brand, believes that although the company was affected by Omicron at the end of 2021 and the beginning of 2022 , they are very proud to achieve another year of strong growth . Looking forward to 2022 and beyond, they will focus on executing Warby Parker's unique growth strategy .

Warby Parker

2021

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