$WRBY

Warby Parker Inc.

CIK:0001504776|SEC Filings

Condensed Consolidated Statements of Operations and Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Net revenue	$ 235,511	$ 214,475	$ 477,958	$ 438,257
Cost of goods sold	99,054	100,866	210,460	198,668
Gross profit	136,457	113,609	267,498	239,589
Selling, general, and administrative expenses	133,290	118,134	262,664	241,643
Income (loss) from operations	3,167	(4,525)	4,834	(2,054)
Interest and other income, net	2,084	1,984	4,415	4,439
Income (loss) before income taxes	5,251	(2,541)	9,249	2,385
Provision for income taxes	607	(789)	1,428	665
Net income (loss)	$ 4,644	$ (1,752)	$ 7,821	$ 1,720
Net loss per share attributable to common stockholders, basic (in dollars per share)	$ 0.04	$ (0.01)	$ 0.06	$ 0.01
Net loss per share attributable to common stockholders, diluted (in dollars per share)	$ 0.04	$ (0.01)	$ 0.06	$ 0.01
Weighted average shares used in computing net loss per share attributable to common stockholders, basic	123,935,000	122,565,000	123,688,000	122,257,000
Weighted average shares used in computing net loss per share attributable to common stockholders, diluted	125,748,000	122,565,000	125,680,000	125,719,000
Other comprehensive income (loss)
Foreign currency translation adjustment	$ (26)	$ 170	$ (351)	$ 179
Total comprehensive income (loss)	$ 4,618	$ (1,582)	$ 7,470	$ 1,899

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities
Net income (loss)	$ 7,821	$ 1,720
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	27,838	24,648
Stock-based compensation	21,295	21,229
Non-cash charitable donations	3,950	2,821
Asset, Impairment Loss	631	486
Amortization of cloud-based software implementation costs	2,064	1,488
Change in operating assets and liabilities:
Accounts receivable, net	1,205	809
Inventory	2,409	9,077
Prepaid expenses and other assets	(20,940)	1,085
Accounts payable	6,710	1,846
Accrued expenses	10,864	10,752
Deferred revenue	(11,295)	(10,836)
Lease assets and liabilities	2,334	4,067
Other liabilities	(757)	365
Net cash provided by operating activities	54,129	69,557
Cash flows from investing activities
Purchases of property and equipment	(39,001)	(32,438)
Net cash used in investing activities	(39,001)	(32,438)
Cash flows from financing activities
Proceeds from stock option exercises	773	117
Shares withheld for taxes on stock-based compensation	(10,604)	(6,361)
Proceeds from shares issued in connection with employee stock purchase plan	1,370	1,169
Net cash used in financing activities	(8,461)	(5,075)
Effect of exchange rates on cash	(351)	179
Net change in cash and cash equivalents	6,316	32,223
Cash and cash equivalents, beginning of period	286,358	254,161
Cash and cash equivalents, end of period	292,674	286,384
Supplemental disclosures
Cash paid for income taxes	1,793	643
Cash paid for interest	162	176
Non-cash investing and financing activities:
Purchases of property and equipment included in accounts payable and accrued expenses	$ 8,978	$ 4,645

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 292,674	$ 286,358
Accounts receivable, net	2,080	3,285
Inventory	42,104	44,512
Prepaid expenses and other current assets	33,982	18,283
Total current assets	370,840	352,438
Property and equipment, net	201,808	187,448
Right-of-use lease assets	186,302	170,805
Other assets	13,365	10,228
Total assets	772,315	720,919
Current liabilities:
Accounts payable	41,269	31,979
Accrued expenses	61,296	49,225
Deferred revenue	22,574	33,869
Current lease liabilities	35,541	31,399
Other current liabilities	2,800	3,658
Total current liabilities	163,480	150,130
Non-current lease liabilities	215,438	201,749
Other liabilities	1,412	1,310
Total liabilities	380,330	353,189
Commitments and contingencies (see Note 10)
Stockholders’ equity:
Common stock, $0.0001 par value; Class A: 750,000 shares authorized at June 30, 2026 and December 31, 2025, 107,726 and 106,318 issued and outstanding at June 30, 2026 and December 31, 2025, respectively; Class B: 150,000 shares authorized at June 30, 2026 and December 31, 2025, 15,700 and 16,130 shares issued and outstanding as of June 30, 2026 and December 31, 2025, respectively, convertible to Class A on a one-to-one basis	12	12
Additional paid-in capital	1,071,564	1,054,779
Accumulated deficit	(677,759)	(685,580)
Accumulated other comprehensive loss	(1,832)	(1,481)
Total stockholders’ equity	391,985	367,730
Total liabilities and stockholders’ equity	$ 772,315	$ 720,919