New York-based eyewear retailer, Warby Parker, has announced its plans to go public and has filed a registration statement with securities regulators. The company intends to list its Class A common stock on the New York Stock Exchange under the ticker symbol “WRBY.” This move comes after Warby Parker filed confidentially for an initial public offering several months ago.

The filing revealed the brand’s financials for the first time ever, giving insight into its performance over the years. From 2018 to 2020, Warby Parker experienced steady growth in net revenues, which amounted to $273 million, $370 million, and nearly $394 million, respectively. However, in the recent period ending June 30, 2021, the company reported a loss of $7.3 million. It is worth noting that Warby Parker has faced losses or broken even in the past.

Despite the recent losses, Warby Parker aims to follow the footsteps of other consumer-facing brands that have gone public this year. Companies like Poshmark, ThredUp, Dr. Martens, and The RealReal have all successfully filed for an IPO since the beginning of the year. Founded in 2010, Warby Parker is known for providing fashionable prescription glasses at affordable prices. In addition to its digital strategy, the brand has expanded its reach through physical retail stores, operating more than 145 locations.

Warby Parker raised $120 million in its most recent venture funding round in 2020, which valued the company at $3 billion. This funding has supported the brand’s growth and expansion efforts.

The decision to go public is aimed at increasing Warby Parker’s brand visibility and accessing capital for future endeavors. The IPO presents an opportunity for investors to participate in the company’s growth potential. As the brand continues to evolve and expand, it will be interesting to see how it performs in the competitive eyewear market and its ability to overcome recent losses.

Useful links:

1. NYSE IPO Center
2. Warby Parker Official Website