Warby Parker's Q3 losses widen

Warby Parker reported on Friday that its third-quarter revenue grew 32% from the same period last year , but sales were affected and its losses widened due to its recent direct listing and related costs , foreign media reported.

Previously, at Warby   After Parker released its first financial report as a public company, the brand 's stock price closed up 9% that day .   Parker went public on the New York Stock Exchange through a direct listing on September 29 of this year .

All pictures are from Warby Parker official website

It is understood that as of September 30, Warby's net loss in the past three months increased to US$91.1 million , or US$1.45 per share , and the loss was US$46.5 million more than the same period last year , or 78 cents per share last year .

The company reported $65 million in stock-based compensation expenses, $23.9 million in expenses related to its direct listing, and $7.8 million in stock donations to the Warby Parker Impact Foundation.

Warby   Parker said those deals, which have lower margins, could weigh on margins as its contact lens business grows , which accounts for 5% of total sales . Revenue rose 32% to $137.4 million from $104.1 million , and sales have grown 45% in two years .

Warby   Neil Blumenthal, co-founder and co-CEO of Parker Brands , said in an interview that as more people enter Warby   Parker's physical stores instead of buying online, consumers' shopping habits are beginning to return to pre-pandemic times. But they don't care where the final transaction takes place, he said, with more than 70% of customers browsing, shopping and interacting with them on its website and app before making a transaction .

The company said it has 2.15 million total active customers , up 23% from 2020. It expects full-year revenue to be between $539.5 million and $542 million, up 38% from a year ago, or 46% over two years.

It is reported that the company still plans to open 35 stores by the end of the year , when the total number of stores will reach 161.

Recently, many DTC brands are in the process of being listed or about to be listed, which has promoted the development of DTC brands. However , their development is facing many challenges.   In addition to Parke , Allbirds' stock price has also fallen before, and the road ahead seems a bit difficult.

Warby Parker

Q3

Loss