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NEW YORK - Warby Parker Inc. (NYSE:WRBY) reported first quarter earnings and revenue that fell short of analyst estimates on Thursday.
The company’s shares dropped 4.83% in pre-market trading following the earnings release.
The company posted adjusted earnings per share of $0.03 for Q1, missing the consensus forecast of $0.11. Revenue came in at $223.8 million, below expectations of $225.46 million but up 11.9% year-over-year.
"Our team delivered a strong start to 2025," said Co-Founder and Co-CEO Neil Blumenthal, highlighting 11 net new store openings and the "highest e-commerce growth we’ve seen since 2021."
However, investors appeared disappointed by the results falling below projections. The company’s full-year revenue guidance of $869-886 million also came in slightly below the $883.3 million analysts were expecting on average.
Warby Parker reported active customers increased 8.7% YoY to 2.57 million, while average revenue per customer rose 4.8% to $310. Gross margin contracted slightly to 56.3% from 56.7% last year.
"Looking to the rest of the year, we’ll leverage our diversified supply chain and the strength of our tenured team to deliver on our strategic priorities," added Co-Founder and Co-CEO Dave Gilboa.
The company ended Q1 with $265.1 million in cash and cash equivalents on its balance sheet.
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