Warby Parker Inc. logo WRBY - Warby Parker Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 8
HOLD 7
SELL 0
STRONG
SELL
0
| PRICE TARGET: $30.86 DETAILS
HIGH: $35.00
LOW: $25.00
MEDIAN: $32.00
CONSENSUS: $30.86
UPSIDE: 23.00%
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Revenue
Revenue 242.4 212.0 221.7 214.5 223.8 190.6 192.4 188.2 200.0 161.9 169.8 166.1 172.0 146.5 148.8 149.6 153.2 132.9 137.4 131.6 139.0 112.8 104.1 88.4 88.4
Cost of Revenue 111.4 100.9 101.7 100.9 97.8 87.5 87.6 86.6 90.0 74.8 77.1 75.5 77.2 65.8 64.4 63.3 63.6 56.6 57.7 53.5 55.2 47.7 40.1 37.0 37.0
Gross Profit 131.0 111.0 119.9 113.6 126.0 103.1 104.9 101.6 110.0 87.1 92.7 90.6 94.8 80.7 84.4 86.3 89.6 76.2 79.7 78.1 83.8 65.2 64.0 51.4 51.4
Operating Expenses
R&D Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
SG&A Expenses 129.4 117.9 116.4 114.4 120.0 112.5 111.5 110.6 115.1 108.6 112.5 108.9 107.2 102.4 108.1 118.4 123.4 122.1 171.6 86.9 80.8 70.3 105.3 54.6 54.6
Other Expenses 0 0 0 3.8 3.5 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.4 1.4
Operating Expenses 129.4 117.9 116.4 118.1 123.5 112.5 111.5 110.6 115.1 108.6 112.5 108.9 107.2 102.4 108.1 118.4 123.4 122.1 171.6 86.9 80.8 70.3 105.3 56.0 56.0
Operating Income
Operating Income 1.7 (6.9) 3.6 (4.5) 2.5 (9.4) (6.6) (9.0) (5.1) (21.6) (19.8) (18.2) (12.4) (21.7) (23.7) (32.1) (33.7) (45.9) (92.0) (8.8) 3.0 (5.1) (41.3) (4.6) (4.6)
Interest Expense 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.2 0.0 0 0 0.1 0.4 0 0.1 0.5 0.0
Interest Income 0 1.8 2.2 2.0 2.5 2.6 2.8 2.6 2.6 2.4 2.7 2.3 1.9 1.4 0 0 0.1 0.1 0 0 0.1 0.5 0 0 0
Profitability
EBITDA 1.7 8.0 18.3 8.0 14.6 2.9 5.2 2.2 5.5 (11.2) (10.0) (8.9) (3.3) (12.8) (15.3) (24.4) (26.8) (39.4) (86.4) (3.7) 7.7 (0.0) (37.0) (0.1) (0.1)
EBIT 1.7 (5.1) 5.7 (4.5) 2.5 (9.4) (6.6) (9.0) (5.1) (21.6) (19.8) (18.2) (12.4) (21.7) (23.7) (32.1) (33.7) (45.9) (92.0) (8.8) 3.0 (5.1) (41.3) (4.6) (4.6)
Income Before Tax 4.0 (5.1) 5.7 (2.5) 4.9 (6.8) (3.8) (6.4) (2.6) (19.2) (17.1) (15.9) (10.6) (20.3) (23.9) (32.1) (33.6) (45.8) (92.1) (9.2) 3.2 (4.6) (41.4) (4.9) (4.9)
Income Tax Expense 0.8 0.9 (0.1) (0.8) 1.5 0.1 0.3 0.4 0.1 (0.1) 0.3 (0.0) 0.3 (0.1) (0.0) 0.0 0.5 0.1 (1.1) 1.1 0.1 (0.3) 0.2 0.1 0.1
Net Income 3.2 (6.0) 5.9 (1.8) 3.5 (6.9) (4.1) (6.8) (2.7) (19.0) (17.4) (15.9) (10.8) (20.3) (23.8) (32.2) (34.1) (45.9) (91.1) (10.3) 3.0 (4.3) (41.6) (5.0) (5.0)
Per Share Data
EPS (Basic) 0.03 -0.05 0.05 -0.01 0.03 -0.06 -0.03 -0.06 -0.02 -0.16 -0.15 -0.14 -0.09 -0.18 -0.21 -0.28 -0.30 -0.41 -1.45 -0.09 -0.14 -0.39 -3.73 -0.10 -0.10
EPS (Diluted) 0.03 -0.05 0.05 -0.01 0.03 -0.06 -0.03 -0.06 -0.02 -0.16 -0.15 -0.14 -0.09 -0.18 -0.21 -0.28 -0.30 -0.41 -1.45 -0.09 -0.14 -0.39 -3.73 -0.10 -0.10
Shares Outstanding 123.4 123.2 122.5 122.6 121.9 121.4 120.9 120.1 119.1 118.6 118.0 116.8 116.2 115.7 115.2 114.7 114.1 112.5 62.9 111.4 11.2 11.2 11.2 52.6 52.6
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2020 Q4 2020 Q1
Current Assets
Cash & Cash Equivalents 288.2 286.4 280.4 286.4 265.1 254.2 251.0 238.0 220.4 216.9 216.0 212.7 204.3 208.6 197.9 211.6 230.3 256.4 266.2 260.7 314.1 (55.4)
Short-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 110.8
Net Receivables 1.8 3.3 1.1 1.1 1.5 1.9 1.1 1.2 1.2 1.8 0.7 1.2 1.0 1.4 1.1 0.9 0.8 1.0 5.6 0.7 0.6 0
Inventory 46.5 44.5 45.6 43.3 48.6 52.3 52.8 53.3 56.5 62.2 63.6 59.8 64.4 68.8 70.6 70.8 64.3 57.1 51.4 46.2 38.5 0
Other Current Assets 21.2 18.3 17.0 15.3 15.4 17.6 16.3 16.1 18.1 17.7 15.2 14.4 14.9 15.7 0 0 0 13.5 25.6 0 0 0
Total Current Assets 357.7 352.4 344.1 346.1 330.6 326.0 321.2 308.6 296.1 298.6 295.5 288.0 284.6 294.6 282.2 295.8 312.2 328.0 353.5 314.3 359.9 55.4
Non-Current Assets
Property, Plant & Equipment 366.6 358.3 354.1 347.4 344.0 341.7 308.1 300.9 286.3 274.6 271.5 266.0 263.8 265.6 262.1 243.9 231.0 112.2 105.3 97.1 84.5 0
Goodwill 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 8.6 0 0 3.6 0
Long-Term Investments 0 0 0 1 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 12.1 10.2 8.8 7.4 7.2 8.7 8.7 8.7 10.5 7.1 7.9 7.7 9.6 8.5 5.8 3.8 1.5 (8.1) 0.7 0.3 (3.3) (55.4)
Total Non-Current Assets 378.7 368.5 362.9 355.8 352.2 350.4 316.8 309.6 296.8 281.7 279.4 273.7 273.3 274.1 267.9 247.7 232.5 112.7 106.1 97.4 84.8 (55.4)
Total Assets 736.4 720.9 706.9 701.9 682.8 676.5 638.0 618.2 592.9 580.3 574.9 561.7 557.9 568.7 550.2 543.6 544.7 440.6 459.6 411.6 444.8 0
Current Liabilities
Account Payables 37.2 32.0 10.9 26.0 26.5 23.5 36.7 24.7 26.7 22.5 24.2 23.8 20.0 20.8 20.2 30.9 32.5 30.9 49.6 39.2 40.8 0
Short-Term Debt 31.9 31.4 28.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 20.9 33.9 22.0 21.5 22.5 32.4 19.2 21.1 21.2 31.6 17.6 19.0 18.9 25.6 16.3 18.3 19.4 22.1 16.8 18.2 26.6 0
Other Current Liabilities 63.3 52.9 70.5 51.6 2.9 2.6 48.2 2.0 2.9 2.4 2.3 2.4 2.5 2.4 1.9 2.0 1.9 53.3 68.0 26.7 30.1 0
Total Current Liabilities 153.3 150.1 132.1 135.5 122.6 130.4 130.1 121.0 118.5 127.1 121.8 110.4 111.0 129.6 111.5 119.9 128.7 118.1 134.4 94.3 105.3 0
Non-Current Liabilities
Long-Term Debt 205.8 201.7 203.9 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 1.6 1.3 1.3 1.2 1.3 0.9 1.0 1.1 1.2 1.3 1.4 1.5 1.6 1.7 1.8 1.9 2.2 36.5 33.7 31.8 31.0 0
Total Non-Current Liabilities 207.3 203.1 205.2 204.9 206.1 206.1 171.1 167.8 158.2 151.4 148.5 149.2 150.5 152.5 154.7 141.7 135.0 36.5 33.7 31.8 31.0 0
Total Liabilities 360.6 353.2 337.3 340.4 328.7 336.4 301.2 288.8 276.7 278.5 270.3 259.6 261.5 282.1 266.2 261.5 263.8 154.6 168.0 126.0 136.3 0
Stockholders' Equity
Common Stock 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0.0 0
Retained Earnings (682.4) (685.6) (679.6) (685.5) (683.7) (687.2) (680.3) (676.3) (669.5) (666.8) (647.8) (630.4) (614.4) (603.6) (583.4) (559.5) (527.4) (493.2) (447.3) (356.3) (325.4) 0
Accumulated Other Comprehensive Income (1.8) (1.5) (1.7) (1.8) (1.9) (1.9) (1.7) (1.6) (1.6) (1.5) (1.6) (1.4) (1.3) (0.6) (0.4) (0.1) 0.0 0.0 0.1 0.2 0.1 (189.5)
Total Stockholders' Equity 375.8 367.7 369.6 361.5 354.1 340.1 336.8 329.4 316.2 301.8 304.6 302.1 296.3 286.6 284.0 282.0 280.9 286.0 291.6 285.6 308.4 73.4
Total Liabilities & Equity 736.4 720.9 706.9 701.9 682.8 676.5 638.0 618.2 592.9 580.3 574.9 561.7 557.9 568.7 550.2 543.6 544.7 440.6 459.6 411.6 444.8 73.4
Debt Metrics
Total Debt 237.6 233.1 232.5 228.4 223.7 225.4 196.2 192.2 181.4 174.5 170.2 170.3 170.6 173.4 173.1 158.5 151.3 0 0 0 0 0
Net Debt (50.6) (53.2) (47.8) (58.0) (41.4) (28.8) (54.9) (45.7) (38.9) (42.4) (45.8) (42.3) (33.6) (35.2) (24.8) (53.1) (79.0) (256.4) (266.2) (260.7) (314.1) 55.4
Metric 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Operating Activities
Net Income 3.2 (6.0) 5.9 (1.8) 3.5 (6.9) (4.1) (6.8) (2.7) (19.0) (17.4) (15.9) (10.8) (20.3) (23.8) (32.2) (34.1) (45.9) (91.1) (10.3) 3.0 (4.3) (41.6) (5.0) (5.0)
Depreciation & Amortization 14.8 13.1 13.4 12.5 12.2 12.3 11.8 11.1 10.6 10.4 9.8 9.3 9.1 8.9 8.3 7.9 6.9 6.6 5.6 5.1 4.7 5.1 4.3 4.5 4.5
Stock-Based Compensation 0 6.3 0 8.9 12.3 8.6 10.8 13.8 14.0 16.4 16.3 18.0 19.8 0 24.3 0 27.1 0 0 10.4 1.3 1.2 42.4 0.7 0.7
Change in Working Capital (5.3) 8.8 (8.4) 16.8 0.3 4.7 (6.8) 10.3 (3.5) 2.9 7.1 6.1 (10.2) 14.7 (8.8) (10.1) (10.4) (23.6) 18.4 (7.0) (12.3) 17.4 13.0 (0.1) (0.1)
Other Non-Cash Items 11.9 1.1 7.1 3.7 1.0 1.1 15.5 3.2 1.5 41.1 3.4 1.3 0.8 20.5 1.2 30.0 0.2 31.1 72.0 0 0 0 0 (2.4) (2.4)
Operating Cash Flow 24.5 23.3 18.0 40.2 29.4 19.9 27.3 31.6 19.9 13.7 19.9 18.8 8.6 23.8 1.2 (4.3) (10.3) (31.9) 5.0 (1.8) (3.3) 19.4 18.1 (2.3) (2.3)
Investing Activities
Capital Expenditure (16.1) (15.1) (19.5) (16.3) (16.2) (17.7) (14.2) (17.7) (14.4) (13.6) (15.5) (12.2) (12.4) (14.2) (14.1) (15.8) (16.1) (14.5) (12.8) (12.5) (8.7) (5.3) (3.7) (5.5) (5.5)
Acquisitions 0 0 0 0 0 0 2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Purchases of Investments 0 0 0 0 0 0 2 0 (2) 0 (1) 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Investing Activities 0 0 0 0 0 0 (4) 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Investing Cash Flow (16.1) (15.1) (19.5) (16.3) (16.2) (17.7) (14.2) (17.7) (16.4) (13.6) (16.5) (12.2) (12.4) (14.2) (14.1) (15.8) (16.1) (14.5) (12.8) (12.5) (8.7) (5.3) (3.7) (5.5) (5.5)
Financing Activities
Net Debt Issuance 0 0 0 0 0 0 0 0 0 0 0 0 0 0.0 0.0 0 0 0.1 31.5 0 0 0 (30.0) 0 0
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 (2.0) (6.1) 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (6.2) (3.4) (4.6) (4.0) (2.3) 0.3 0 0 0 0 0 1.9 0.1 0 0.1 0 0.2 26.5 (26.5) (19.3) 0.2 0.4 0.8 77.9 77.9
Financing Cash Flow (6.2) (2.3) (4.6) (2.8) (2.3) 1.2 0.0 3.6 0.1 0.7 0.2 1.9 0.1 1.2 0.1 1.8 0.2 36.6 13.7 (21.3) (5.9) 0.3 89.9 77.9 77.9
Cash Position
Net Change in Cash 1.9 6.0 (6.0) 21.3 10.9 3.1 13.1 17.6 3.5 0.9 3.3 8.4 (4.3) 10.7 (13.7) (18.7) (26.1) (9.8) 5.6 (35.3) (18.1) 14.7 104.4 69.8 69.8
Cash at Beginning 286.4 280.4 286.4 265.1 254.2 251.0 238.0 220.4 216.9 216.0 212.7 204.3 208.6 197.9 211.6 230.3 256.4 266.2 260.7 296.0 314.1 299.4 195.0 125.2 0
Cash at End 288.2 286.4 280.4 286.4 265.1 254.2 251.0 238.0 220.4 216.9 216.0 212.7 204.3 208.6 197.9 211.6 230.3 256.4 266.2 260.7 296.0 314.1 299.4 195.0 69.8
Free Cash Flow 8.4 8.1 (1.5) 23.9 13.2 2.2 13.1 14.0 5.5 0.1 4.4 6.5 (3.7) 9.6 (12.9) (20.1) (26.4) (46.4) (7.8) (14.3) (12.0) 14.1 14.4 (7.9) (7.9)
Key Metrics 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1
Income Statement
Revenue 242.4 212.0 221.7 214.5 223.8 190.6 192.4 188.2 200.0 161.9 169.8 166.1 172.0 146.5 148.8 149.6 153.2 132.9 137.4 131.6 139.0 112.8 104.1 88.4 88.4
Gross Profit 131.0 111.0 119.9 113.6 126.0 103.1 104.9 101.6 110.0 87.1 92.7 90.6 94.8 80.7 84.4 86.3 89.6 76.2 79.7 78.1 83.8 65.2 64.0 51.4 51.4
Operating Income 1.7 (6.9) 3.6 (4.5) 2.5 (9.4) (6.6) (9.0) (5.1) (21.6) (19.8) (18.2) (12.4) (21.7) (23.7) (32.1) (33.7) (45.9) (92.0) (8.8) 3.0 (5.1) (41.3) (4.6) (4.6)
Net Income 3.2 (6.0) 5.9 (1.8) 3.5 (6.9) (4.1) (6.8) (2.7) (19.0) (17.4) (15.9) (10.8) (20.3) (23.8) (32.2) (34.1) (45.9) (91.1) (10.3) 3.0 (4.3) (41.6) (5.0) (5.0)
EPS (Diluted) 0.03 -0.05 0.05 -0.01 0.03 -0.06 -0.03 -0.06 -0.02 -0.16 -0.15 -0.14 -0.09 -0.18 -0.21 -0.28 -0.30 -0.41 -1.45 -0.09 -0.14 -0.39 -3.73 -0.10 -0.10
Balance Sheet
Cash & Equivalents 288.2 286.4 280.4 286.4 265.1 254.2 251.0 238.0 220.4 216.9 216.0 212.7 204.3 208.6 197.9 211.6 230.3 256.4 266.2 260.7 314.1 (55.4)
Total Assets 736.4 720.9 706.9 701.9 682.8 676.5 638.0 618.2 592.9 580.3 574.9 561.7 557.9 568.7 550.2 543.6 544.7 440.6 459.6 411.6 444.8 0
Total Debt 237.6 233.1 232.5 228.4 223.7 225.4 196.2 192.2 181.4 174.5 170.2 170.3 170.6 173.4 173.1 158.5 151.3 0 0 0 0 0
Stockholders' Equity 375.8 367.7 369.6 361.5 354.1 340.1 336.8 329.4 316.2 301.8 304.6 302.1 296.3 286.6 284.0 282.0 280.9 286.0 291.6 285.6 308.4 73.4
Cash Flow
Operating Cash Flow 24.5 23.3 18.0 40.2 29.4 19.9 27.3 31.6 19.9 13.7 19.9 18.8 8.6 23.8 1.2 (4.3) (10.3) (31.9) 5.0 (1.8) (3.3) 19.4 18.1 (2.3) (2.3)
Capital Expenditure (16.1) (15.1) (19.5) (16.3) (16.2) (17.7) (14.2) (17.7) (14.4) (13.6) (15.5) (12.2) (12.4) (14.2) (14.1) (15.8) (16.1) (14.5) (12.8) (12.5) (8.7) (5.3) (3.7) (5.5) (5.5)
Free Cash Flow 8.4 8.1 (1.5) 23.9 13.2 2.2 13.1 14.0 5.5 0.1 4.4 6.5 (3.7) 9.6 (12.9) (20.1) (26.4) (46.4) (7.8) (14.3) (12.0) 14.1 14.4 (7.9) (7.9)