Warby Parker Inc. (WRBY)

Warby Parker reported second-quarter 2026 net revenue of $235.5 million, up 9.8 percent from a year earlier 2.

Net income was $4.6 million, against a loss of $1.8 million in the same quarter a year before 2.

The gross margin, the share of each sales dollar left after the cost of goods, rose to 57.9 percent from 53.0 percent 2.

The company says a 500 basis point benefit came from refunds of IEEPA tariffs, the emergency-powers tariffs the Supreme Court struck down in February 2026 21.

The 10-K says the amount and timing of any refunds remain highly uncertain 1.

Warby Parker is a public benefit corporation founded in 2010, a company that writes a social purpose into its charter alongside profit 1.

It pioneered selling designer-style glasses straight to customers, cutting out the middleman, and has since added eye exams and contact lenses 1. Its Class A shares reached the New York Stock Exchange through a direct listing 13.

Revenue rose 15.2 percent in 2024, to $771.3 million, as Average Revenue per Customer reached $307 from $287 and Active Customers grew 7.8 percent 1.

The company counts an Active Customer as an account that bought something in the past 12 months 2.

Revenue rose 13.0 percent in 2025, to $871.9 million, helped by 47 new stores 1.

Gross margin slipped 130 basis points to 54.0 percent in 2025, which the company tied to tariff costs on glasses, lower-margin contact lens sales and more eye doctors on staff 1.

The company decided in 2025 to end its Home Try-On program at the end of that year 1.

It earned a small profit of $1.6 million in 2025, after losing $20.4 million in 2024 and $63.2 million in 2023 1.

Eyewear, contacts and eye care

Eyewear brought in $719.1 million of 2025 revenue, contacts $97.2 million and eye care, which includes exams, $55.7 million 1.

Glasses carry simple pricing starting at $95 including prescription lenses 1.

Stores, labs and channels

Stores sold $631.0 million in 2025, against $240.9 million online 1.

The company ran 318 stores in the United States and five in Canada at the end of 2025, and 352 by 30 June 2026 12.

It runs its own optical labs, which make the lenses, in Sloatsburg, New York, and Las Vegas, Nevada 1.

People and rivals

Neil Blumenthal and Dave Gilboa are the co-founders and Co-Chief Executive Officers, and Adrian Mitchell is the Chief Financial Officer 13.

The company says it has over 4,000 employees 1.

It names EssilorLuxottica and VSP, large integrated optical groups, as direct competitors, and online seller Zenni Optical as another 1.

The umbrella, in words

The main brand is Warby Parker, and the subsidiary list filed with the 10-K names WPCA Holdings, Inc., in Canada 4.

It agreed a partnership with Google on AI glasses, in which Google committed up to $75 million toward development costs 2.

It also agreed with Target Corporation to open shop-in-shop stores within select Target locations 1.

Control is concentrated: Class B shares carry ten votes each, against one for Class A, and the Class B holders are the co-founders 1.

The company expects its U.S. footprint has room to expand to over 900 stores, based on a 2021 outside analysis 1.

It is also exploring other store formats, including shop-in-shops at select retail locations 1.

On AI glasses, the company says it intends to launch a series of products over time with Google 2.

Google has also committed to invest up to $75 million in the company, at the company's option and subject to reaching certain collaboration milestones 2.

The company says insurance-backed orders were only 8.3 percent of 2025 revenue and it aims to widen in-network coverage 1.

No clue on file points to a new direction yet.