Warby Parker, the eyewear brand based in New York, has reported a substantial increase in total revenues for the full year of 2021. The company experienced a 37% growth, driven by a 22% surge in active customers, which brought their consumer base to 2.2 million throughout the year. Additionally, there was a 13% rise in average revenue per customer, reaching $246.

Despite their positive sales results, Warby Parker encountered profitability challenges. In the fourth quarter, they witnessed a widening of net losses amounting to $45.9 million. This was primarily due to increased expenses in selling and general administrative areas, including stock-based compensation expense and related employer payroll taxes. For the entire year, net losses totaled $144.3 million.

Nonetheless, Warby Parker remains optimistic about their future prospects. They believe they operate in a large and growing market segment and are emerging from the pandemic in a position of strength. The company plans to continue expanding their business and creating value for stakeholders. In 2022, they anticipate net revenues of $650 to $660 million, representing a growth rate of 20% to 22% compared to 2021.

Throughout 2021, Warby Parker achieved significant milestones in their business. They expanded their profitability, gained market share, and implemented several strategic initiatives to enhance their offerings. This included a wider range of glasses, contacts, and exam options, the opening of 40 new stores, and the introduction of innovative digital tools.

Dave Gilboa, the co-founder and co-CEO of Warby Parker, expressed confidence in the company’s future outlook. He stated that they are excited about solving more customer problems, delighting more customers, and creating even greater value and impact for stakeholders.

In conclusion, Warby Parker experienced impressive revenue growth in 2021, driven by an increase in active customers and average revenue per customer. However, the company faces profitability challenges. Nevertheless, they remain optimistic about their prospects and aim to continue expanding their business and creating value for stakeholders in the coming years.

Useful links:
1. Warby Parker Official Website
2. Warby Parker Revenue Growth Press Release