Warby Parker Q2 Earnings Call Highlights

Warby Parker’s Q2 revenue rose 9.8% to $235.5 million, supported by retail growth, higher average order values and a 30%-plus increase in eye exams, despite softer traffic and the end of Home Try-On. Adjusted EBITDA was $32.9 million, including an $11.8 million tariff-refund benefit. The company is preparing to launch its Intelligent Eyewear collection with Samsung and Google later this fall, with customer deliveries expected during the holiday season. Management reaffirmed full-year revenue guidance of $959 million to $976 million and adjusted EBITDA guidance of $117 million to $119 million, while warning that third-quarter results will reflect category headwinds and increased pre-launch investment. Warby Parker reported second-quarter revenue of $235.5 million, up 9.8% from a year earlier, as retail sales growth, eye exam expansion and higher average order values helped offset continued softness in customer traffic and the effects of ending its Home Try-On program. Adjusted EBITDA totaled $32.9 million, or a 14% margin, including an $11.8 million tariff refund benefit related to inventory sold during the quarter. The company said it is using tariff refunds to fund additional technology, operational, supply-chain and marketing investments ahead of the planned fall launch of its Intelligent Eyewear collection. Co-Founder and Co-CEO Neil Blumenthal said the company expects to unveil the full Intelligent Eyewear collection in several weeks, including pricing, technical specifications and product experiences developed with its partners. Customer deliveries remain on track for the holiday season. Warby Parker opened 15 net new stores in the second quarter, including its 350th location at Doral Marketplace near Miami. The company had opened 29 net new stores through the first half of 2026 and said it remains on pace toward its target of 50 openings for the full year. The retailer ended the quarter with 352 stores across 43 states and two Canadian provinces. Blumenthal said nearly two-thirds of the U.S. population now lives within 30 minutes of a Warby Parker store. The company expects its store network to be central to the Intelligent Eyewear rollout, allowing customers to try products, obtain prescriptions, receive eye exams and access ongoing support. Retail revenue rose 13.6% year over year. While traffic remained softer than management would prefer, Blumenthal said stores posted strong conversion, high average order values, strong units per transaction and some of the company’s highest customer satisfaction scores. Eye exams grew more than 30% year over year and represented about 7% of revenue, compared with 6% a year earlier. Warby Parker now offers exams in about 90% of its stores. Blumenthal said the company believes exams could ultimately account for 15% to 20% of business based on industry penetration levels. The company launched a dedicated eye-exam campaign that generated nearly 200 million impressions across television, YouTube, Reddit, social media and other channels. Warby Parker said roughly half of its existing customers are not aware that it offers exams, even though management estimates that about 75% of consumers industrywide buy glasses where they receive their exam. Warby Parker also launched five product collections during the quarter, including Warby Parker Sport, its first performance eyewear line.