Why Warby Parker Stock Popped Today
Yahoo Finance ·
Warby Parker is gaining customers as it expands its store count and product lines. The company's sales and profits are rising at a solid clip. Shares of Warby Parker ( WRBY +22.50% ) soared more than 22% on Thursday after the eyewear maker highlighted the upcoming launch of its new smart glasses. Warby Parker's revenue rose 10.4% year over year to $244.7 million in the third quarter. The eyeglass designer opened 12 net new stores during the quarter, bringing its total count to 364 locations as of Sept. 30. Warby Parker's high-quality yet affordable prescription glasses starting at $95 are proving popular with budget-conscious consumers. The company's strategy of offering vision tests and eye exams in its retail stores is also helping to bring in more customer traffic. Active customers grew 3% to 2.74 million on a trailing 12-month basis. People are also spending more at Warby Parker's stores. Average revenue per customer increased 6.7% to $342. "We're continuing to expand our products and services, build on the investments we've made over many years, like exams and insurance, and find new ways to serve our customers," Co-CEO Neil Blumenthal said. All told, Warby Parker's earnings before interest, taxes, depreciation, and amortization ( EBITDA ) jumped 11% to $28.6 million. Management now sees full-year net revenue rising as much as 12% to $976 million in 2026, resulting in adjusted EBITDA of roughly $118 million. Warby Parker is gearing up for the launch of its Intelligent Eyewear, a line of artificial intelligence (AI)-powered smart glasses developed in partnership with Samsung and Alphabet 's Google. They offer real-time translation, turn-by-turn navigation, high-quality photo taking, and other voice-activated features. "One week from today, on November 12, we'll begin accepting pre-orders for our first Intelligent Eyewear collection and look forward to delivering customer orders during the holiday season," Co-CEO Dave Gilboa said. "We can't wait for customers to experience these remarkable products firsthand." *Average returns of all recommendations since inception. Cost basis and return based on previous market day close.
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