Q2 Revenue Grew 17.3% Year-Over-Year to a Record $58.2 Million
Glasses Revenue Grew 50.6% Year-Over-Year to Approximately $10.8 Million
Q2 Adjusted EBITDA Exceeded 4.5% of Revenue
Cash Exceeds $27.3 Million
VANCOUVER, BC, July 9, 2026 /CNW/ - Kits Eyecare Ltd. (TSX: KITS) ("KITS" or the "Company"), the leading vertically integrated eyecare provider, is providing selected preliminary unaudited results for its second quarter ended June 30, 2026.
Select Preliminary Second Quarter 2026 Financial Highlights:
Total Revenue increased 17.3% year-over-year to approximately $58.2 million.
Adjusted EBITDA exceeded $2.6 Million, or exceeding 4.5% of Revenue
Adjusted EBITDA to exceed 4.5% of Revenue, or exceeding $2.6 million.
Glasses Revenue expanded approximately 50.6% year-over-year to $10.8 million.
Strong cash generation in the quarter drove the Company's cash balance to exceed $27.3 million at the end of the quarter, and no debt.
The Company looks forward to reporting its full second quarter 2026 results in early August 2026. Details for the second quarter 2026 conference call will be disclosed in the coming weeks.
About KITS
KITS (TSX: KITS) is one of the world's fastest growing eyecare providers, offering high-quality, affordable prescription glasses and contact lenses through its vertically integrated digital platform. With advanced in-house lens manufacturing, an industry-leading digital fit experience powered by OpticianAI, and thousands of 5-star customer reviews, KITS is redefining how Canadians experience eyecare. Designed in Canada. Delivered worldwide. For more information on KITS, visit: www.kits.com.
Non-IFRS Financial Measures and Industry Metrics
This press release includes references to certain non-IFRS financial measures such as Constant Currency Revenue, EBITDA, Adjusted EBITDA, Adjusted EBITDA margin percentage and certain industry metrics. These financial measures and industry metrics are employed by the company to measure its operating and economic performance and to assist in business decision-making, as well as providing key performance information to senior management. The company believes that, in addition to conventional measures prepared in accordance with IFRS, certain investors and analysts use this information to evaluate the company's operating and financial performance. These financial measures are not defined under IFRS, nor do they replace or supersede any standardized measure under IFRS. Other companies in our industry may calculate these measures differently than we do, limiting their usefulness as comparative measures. Definitions and reconciliations of non-IFRS measures to the nearest IFRS measure and Industry Metrics can be found in our Management's Discussion and Analysis. Such non- IFRS reconciliations can also be found in this press release under "Financial Highlights".