Warby Parker Inc. · NYSE:WRBY
Warby Parker — Q1 2026 Earnings Presentation
22 slides from Warby Parker's earnings presentation, May 7, 2026
Slide 1: First Quarter 2026 Earnings Report
First Quarter 2026 Earnings Report Speakers: DAVE GILBOASpeakers: | Co-Founder & Co-CEO NEIL NEILBLUMENTHAL BLUMENTHAL ||Co-Founder Co-Founder&&Co-CEO Co-CEO DAVE STEVE GILBOA MILLER | Co-Founder | SVP & Co-CEO & Chief Financial Officer ADRIAN MITCHELL | SVP, Chief Financial Officer
Slide 2: Forward-Looking Statements / Non-GAAP Financial Measures
Forward-Looking Statements / Non-GAAP Financial Measures This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These statements may relate to, but are not
Slide 3: MIMO
MIMO
Slide 4: Since our founding, we've pioneered ideas, designed products, and developed technologies
Since our founding, we’ve pioneered ideas, designed products, and developed technologies that help people see.
Slide 5: Company Overview
Company Overview 1. Since 2010, we’ve offered high-quality prescription eyewear—designed in-house—starting at $95 and delivered industry-leading customer experiences. 2. We’ve helped pioneer the vertically integrated, direct-to-consumer model while evolving from a glasses-only business into a holist
Slide 6: City Point (Downtown Brooklyn, NY)
City Point (Downtown Brooklyn, NY)
Slide 7: Q1 2026: Financial Highlights
Q1 2026: Financial Highlights $242M 8.3% 4.8% $331 6.9% 54.2% 12.2% $8.4M (1) Key operating metric. See definition in appendix. (2) Non-GAAP financial term. See appendix for definitions and reconciliations of non-GAAP measures. 7
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Slide 10: Quarterly Financial Performance
Quarterly Financial Performance $242 $29 $30 $224 $200 $22 16.3% y/y growth % margin 13.1% 11.9% 12.2% 11.2% 8.3% (1) Non-GAAP financial term. See appendix for definitions and reconciliations of non-GAAP measures. 10
Slide 11: Quarterly Business Highlights
Quarterly Business Highlights $242.4 $223.8 $221.7 $214.5 $212.0 2.69 2.69 2.66 2.60 2.57 8.7% 9.0% 9.3% 13.9% 15.2% 7.0% 11.9% 11.2% 4.8% 8.3% $29.2 $29.6 $331 $25.0 $25.7 $310 $316 $320 $324 $15.2 13.1% 11.7% 11.6% 12.2% 6.9% 7.2% 4.8% 5.7% 4.8% 4.6% (1) Key operating metric. See definition in appe
Slide 12: Compelling and Consistent Sales Retention Rates
Compelling and Consistent Sales Retention Rates >100% ~80% ~50% ~25% Source: Company data 12 Note: Sales Retention Rate based on customer cohort sales order value and months since initial purchase. Only cohorts with a full period of data available as of 3/31/2026 are presented.
Slide 13: Suburban Square (Ardmore, PA)
Suburban Square (Ardmore, PA)
Slide 14: Expanding Retail Footprint with Significant White Space for New Stores
Expanding Retail Footprint with Significant White Space for New Stores 900+ 337 337 open retail stores 332 U.S. and 5 Canada 103 markets 44 states or provinces 256 cities Current Potential 14 net new retail stores in Q1 2026 footprint footprint1 Store presence in 48 of the 50 most populous markets i
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Slide 17: Full Year 2026 Outlook
Full Year 2026 Outlook Net Revenue Adjusted EBITDA(1) $959M–$976M $117M–$119M ~10–12% y/y growth 12.2% margin(1) Q2 2026 Outlook Net Revenue Adjusted EBITDA(1) $235M–$238M $27M–$29M ~10–11% y/y growth ~12% margin(1)(2) (1) Non-GAAP financial term. See appendix for definition of non-GAAP measures and t
Slide 18: Supplemental Details
Supplemental Details
Slide 19: Non-GAAP Financial Measures and Key Operating Metrics
Non-GAAP Financial Measures and Key Operating Metrics Included in this presentation are certain financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”) and which are designed to supplement, and not substitute, the Company’s financial informa
Slide 20: Reconciliation of Adjusted EBITDA to Net Income
Reconciliation of Adjusted EBITDA to Net Income Three Months Ended March 31 Unaudited, in thousands 2026 2025 Net income $3,177 $3,472 Adjusted to exclude the following: Interest and other income, net (2,331) (2,455) Provision for income taxes 821 1,454 Depreciation and amortization expense 13,768 1
Slide 21: Reconciliation of Non-GAAP Measures
0 2) @ Reconciliation of Non-GAAP Measures Three Months Ended March 31 Unaudited, in thousands 2026 2025 Cost of goods sold $111,406 $97,802 Adjusted to exclude the following: Stock-based compensation expense” 325 273 Adjusted Cost of Goods Sold $111,081 $97,529 Gross profit $131,041 $125,980 Adjust
Slide 22: Thank You
Thank You