Warby Parker Q1 revenue up 10.3% to $153.2M; net loss widens to $34.1M

Warby Parker Inc.

2022-Q1 EPS reported -$0.30 revenue$153,218,000

Revenue $153.2M (+10.3% YoY); active customers 2.23M (+18%); average revenue per customer $249 (+11.2%).
GAAP net loss $34.1M vs $3.0M loss in Q1 2021; adjusted EBITDA $0.8M (0.5% margin) vs $9.3M (6.7% margin) YoY.
Gross margin 58.5% vs 60.3% due to higher contact lens penetration; Omicron impact estimated at $15M lost sales.
Opened 8 stores in Q1, ending with 169; FY2022 guidance reaffirmed: revenue $650-660M, adj. EBITDA margin 5.6-6.6%.
SG&A rose $42.6M to $123.4M, driven by $25.9M increase in stock-based compensation and related taxes.

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