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Sunday, November 3, 2024

Warby Parker Reports Surprise Loss Despite Revenue Growth

Warby Parker’s stock price fell sharply after the company announced a surprise loss in the fourth quarter. The company’s gross margins also continued to decline.

  • Stock price: Down 8.6% premarket after rising 18% month-to-date.
  • Loss: Net loss narrowed to $19.05 million ($0.16 per share) from $20.25 million ($0.18 per share) a year ago. Adjusted net loss was $1.11 million, missing analyst expectations of $0.01 EPS.
  • Gross margin: Declined to 53.8% from 55.1% due to increased sales of contact lenses and other factors.
  • Revenue: Grew 10.5% to $161.9 million, beating analyst estimates.
  • 2024 guidance: Revenue expected to be between $748 million and $758 million, in line with analyst expectations.

While revenue grew, the company’s profitability fell short of expectations due to declining margins. The stock price has still risen significantly in recent months, but it fell after the earnings announcement.

Disclaimer:

I am unable to provide financial advice and this information should not be considered as such. It is important to do your own research and consult with a financial professional before making any investment decisions.

Ravi Bora
Ravi Bora
Ravi Bora is a financial blogger with a keen eye for market trends. With a passion for finance, investments, the stock market, and cryptocurrencies, he brings a wealth of knowledge to his reporting.

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