Warby Parker Q1 sales surge on increased customers, average order

Warby Parker Inc. announced on Thursday revenue surged 16.3% to $200 million, on the back of an increase in average revenue per customer and active customers.

The New York-based eyewear maker said average revenues per customer increased 9.6% to $296, while active customers increased 3.2% to 2.36 million.

As a result of the increasing revenue, GAAP net loss improved $8.1 million to $2.7 million for the three months ending March 31.

“We entered 2024 with higher ambitions for delivering on our key metrics and are proud of what the team accomplished in Q1–we drove our highest revenue quarter growth since 2021, up 16.3% year over year, while making significant progress to improve profitability,” said co-founder and co-CEO Neil Blumenthal.

“Earlier this year, we set out to reaccelerate both glasses and active customer growth. We’re encouraged to see strength in single-vision glasses as well as efficiencies across media channels, driven by our team’s strong marketing execution. In Q2 and beyond, we’ll continue to invest in customer acquisition while scaling our holistic vision care offering to drive higher customer lifetime value,” added co-founder and co-CEO Dave Gilboa.

Looking ahead, Warby Parker raised its guidance for full-year 2024, predicting net revenue of $753 to $761 million, representing growth of approximately 12.5% to 13.5% versus full year 2023.

The company also said it remains on track for 40 new store openings this year.