Filing Flows › Warby Parker (WRBY) › Q1 2025
Warby Parker (WRBY) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
Warby Parker (WRBY) reported revenue of $224M for the first quarter 2025 (Q1 2025), +12% from a year earlier and +17% from the quarter before. Operating margin was 1.1%, net earnings $3.5M (1.6% of revenue).
Warby Parker, Q1 2025: revenue $224M (+12% year over year), operating margin 1.1%, net earnings $3.5M, operating cash flow $29.4M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $224M | +17% | +12% |
| Gross profit | $126M | +22% | +11% |
| Operating profit | $2.5M | — | — |
| Net earnings | $3.5M | — | — |
| Operating cash flow | $29.4M | +47% | +47% |
| Free cash flow | $13.2M | — | +141% |
What changed
Revenue was $223.8M in Q1 2025, up 12% year over year and up 17% from the previous quarter. Eyewear was the largest line at 94% of revenue. Eyewear added $20.2M year over year (up 11%), 85% of the total change.
Gross margin was 56.3%, down 0.4 points from a year earlier. Operating profit was $2.5M, a 1.1% margin (up 3.7 points year over year). Operating expenses grew 4% against revenue growth of 12%. Net earnings were $3.5M. The effective tax rate was 29.5%. Non-operating items added $2.5M, 50% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $29.4M (up 47% year over year), 846% of net earnings. Non-cash charges added back $12.2M of depreciation and amortization and $12.3M of share-based compensation. After purchases of property and equipment ($16.2M), free cash flow as the company reports it was $13.2M.
Questions
What was Warby Parker's revenue in the first quarter 2025?
Warby Parker (WRBY) reported revenue of $224M for the first quarter 2025 (Q1 2025), +12% from a year earlier and +17% from the quarter before.
Was Warby Parker profitable in the first quarter 2025?
Operating profit was $2.5M (1.1% of revenue) and net earnings $3.5M.
Source: Warby Parker 10-Q on SEC EDGAR.