Net revenue increased 14.2% year over year to
$169.8 million; Company raises outlook
Average Revenue per Customer increased 10.0%
year over year to $284
Over 15 million pairs of glasses distributed
through our Buy a Pair, Give a Pair program
Warby Parker Inc. (NYSE: WRBY) (“Warby Parker” or the
“Company”), a direct-to-consumer lifestyle brand focused on vision
for all, today announced financial results for the third quarter
ended September 30, 2023.
“In Q3, we were proud to deliver our strongest revenue growth
year-to-date at 14.2%,” said Co-Founder and Co-CEO Neil Blumenthal.
“Fueling topline results were 11 new store openings, four
collection launches, contacts outperformance, and more. Customers
continue to find exceptional value in our products, and we are
focused on finding more ways to serve them through our growing and
highly productive retail footprint, product innovation, and broader
holistic vision care services.”
“As we head into the busiest time of year, our team remains
laser focused on delivering remarkable experiences and value for
our customers. We are confident in our strategic direction and
continue to believe we are in the early innings of delivering
long-term, profitable growth,” added Co-Founder and Co-CEO Dave
Gilboa.
Third Quarter 2023
Highlights
- Net revenue increased $21.1 million, or 14.2%, to $169.8
million.
- GAAP net loss of $17.4 million.
- Adjusted EBITDA(1) of $11.0 million and adjusted EBITDA
margin(1) of 6.5%.
- Over 15 million pairs of glasses have now been distributed to
people in need through our Buy a Pair, Give a Pair program.
Third Quarter 2023 Year Over Year
Financial Results
- Net revenue increased $21.1 million, or 14.2%, to $169.8
million.
- Average Revenue per Customer increased 10.0% to $284. Active
Customers increased 1.8% to 2.30 million.
- Gross profit increased 9.8% to $92.7 million.
- Gross margin was 54.6% compared to 56.7% in the prior year
period. The decline in gross margin was primarily driven by the
growth of contact lenses, which carry lower gross margins than our
other eyewear, increased costs associated with optometrists as we
scale our eye exam offering across our fleet, and increases in
store occupancy costs as a percent of revenue primarily due to
increased depreciation and rent charges as we grew our store base
to 227 stores, up from 190 in the prior year period.
- Selling, general and administrative expenses (“SG&A”) were
$112.5 million, up $4.4 million from the prior year, and
represented 66.2% of revenue, down from 72.6% in the prior year
period. Leverage in SG&A was primarily driven by reduced
stock-based compensation costs and adjustments to our cost
structure made last year, partially offset by increased marketing
costs and technology costs. Adjusted SG&A(1) was $93.4 million,
or 55.0% of revenue, versus $82.3 million, or 55.3% of revenue in
the prior year period.
- GAAP net loss improved $6.4 million to $17.4 million, primarily
as a result of the increase in revenue described above.
- Adjusted EBITDA(1) decreased $0.9 million to $11.0 million and
adjusted EBITDA margin(1) decreased 1.5 points to 6.5%.
- Opened 11 new stores during the quarter, ending Q3 with 227
stores.
Balance Sheet Highlights
Warby Parker ended the third quarter of 2023 with $216.0 million
in cash and cash equivalents.
2023 Outlook
For the full year 2023, Warby Parker is revising guidance to be
as follows:
- Net revenue of $666 to $669 million, representing growth of
approximately 11.5% at the midpoint versus full year 2022.
- Adjusted EBITDA(1) of approximately $52.7 million, or adjusted
EBITDA margin(1) of 7.9%.
- On track for 40 new store openings this year.
“While both our top and bottom line exceeded our prior outlook
for the third quarter, we are cognizant of headwinds facing the
consumer in the current macro environment,” said Chief Financial
Officer Steve Miller. “Given our outperformance year-to-date, we
are raising our full year revenue guidance and maintaining a
disciplined approach to spend.”
The guidance and forward-looking statements made in this press
release and on our conference call are based on management's
expectations as of the date of this press release.
(1) Please see the reconciliation of non-GAAP financial measures
to the most comparable GAAP financial measure in the section titled
“Non-GAAP Financial Measures” below.
Webcast and Conference
Call
A conference call to discuss Warby Parker’s third quarter 2023
results, as well as fourth quarter and full year 2023 outlook, is
scheduled for 8:00 a.m. ET today. To participate, please dial
833-470-1428 from the U.S. or 646-904-5544 from international
locations. The conference passcode is 323975. A live webcast of the
conference call will be available on the investors section of the
Company’s website at investors.warbyparker.com where presentation
materials will also be posted prior to the conference call. A
replay will be made available online approximately two hours
following the live call for a period of 90 days.
Forward-Looking
Statements
This press release and the related conference call, webcast and
presentation contain forward-looking statements within the meaning
of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
These statements may relate to, but are not limited to,
expectations of future operating results or financial performance,
including expectations regarding achieving profitability and growth
in our e-commerce channel, delivering stakeholder value, growing
market share, and our guidance for the quarter and year ending
December 31, 2023; expectations regarding the number of new store
openings during the year ending December 31, 2023; management’s
plans, priorities, initiatives and strategies; and expectations
regarding growth of our business. Forward-looking statements are
inherently subject to risks and uncertainties, some of which cannot
be predicted or quantified. In some cases, you can identify
forward-looking statements because they contain words such as
“anticipate,” “believe,” “contemplate,” “continue,” “could,”
“estimate,” “expect,” “intend,” “may,” “plan,” “potential,”
“predict,” “project,” “should,” “target,” “toward,” “will,” or
“would,” or the negative of these words or other similar terms or
expressions. You should not put undue reliance on any
forward-looking statements. Forward-looking statements should not
be read as a guarantee of future performance or results and will
not necessarily be accurate indications of the times at, or by,
which such performance or results will be achieved, if at all.
Forward-looking statements are based on information available at
the time those statements are made and are based on current
expectations, estimates, forecasts, and projections as well as the
beliefs and assumptions of management as of that time with respect
to future events. These statements are subject to risks and
uncertainties, many of which involve factors or circumstances that
are beyond our control, that could cause actual performance or
results to differ materially from those expressed in or suggested
by the forward-looking statements. In light of these risks and
uncertainties, the forward-looking events and circumstances
discussed in this press release may not occur and actual results
could differ materially from those anticipated or implied in the
forward-looking statements. These risks and uncertainties include
our ability to manage our future growth effectively; our
expectations regarding cost of goods sold, gross margin, channel
mix, customer mix, and selling, general, and administrative
expenses; increases in component and shipping costs and changes in
supply chain; our reliance on our information technology systems
and enterprise resource planning systems for our business to
effectively operate and safeguard confidential information; our
ability to engage our existing customers and obtain new customers;
planned new retail stores in 2023 and going forward; an overall
decline in the health of the economy and other factors impacting
consumer spending, such as recessionary conditions, inflation,
government instability, and geopolitical unrest; our ability to
compete successfully; our ability to manage our inventory balances
and shrinkage; the growth of our brand awareness; our ability to
recruit and retain optometrists, opticians, and other vision care
professionals; a resurgence of COVID-19 or the spread of new
infectious diseases; the effects of seasonal trends on our results
of operations; our ability to stay in compliance with extensive
laws and regulations that apply to our business and operations; our
ability to adequately maintain and protect our intellectual
property and proprietary rights; our reliance on third parties for
our products, operation and infrastructure; our duties related to
being a public benefit corporation; the ability of our Co-Founders
and Co-CEOs to exercise significant influence over all matters
submitted to stockholders for approval; the effect of our
multi-class structure on the trading price of our Class A common
stock; and the increased expenses associated with being a public
company. Additional information regarding these and other risks and
uncertainties that could cause actual results to differ materially
from the Company's expectations is included in our most recent
reports filed with the SEC on Form 10-K and Form 10-Q. Except as
required by law, we do not undertake any obligation to publicly
update or revise any forward-looking statement, whether as a result
of new information, future developments, or otherwise.
Additional information regarding these and other factors that
could affect the Company’s results is included in the Company’s SEC
filings, which may be obtained by visiting the SEC's website at
www.sec.gov. Information contained on, or that is referenced or can
be accessed through, our website does not constitute part of this
document and inclusions of any website addresses herein are
inactive textual references only.
Glossary
Active Customer is defined as a unique customer that has made at
least one purchase of any product or service in the preceding
12-month period.
Average Revenue per Customer is defined as net revenue for a
given period divided by the number of Active Customers as of the
end of that same period.
Non-GAAP Financial
Measures
We use adjusted EBITDA, adjusted EBITDA margin, adjusted net
income, adjusted earnings per share, adjusted cost of goods sold
(“adjusted COGS”), adjusted gross margin, adjusted gross profit,
and adjusted selling, general, and administrative expenses
(“adjusted SG&A”) as important indicators of our operating
performance. Collectively, we refer to these non-GAAP financial
measures as our “Non-GAAP Measures.” The Non-GAAP Measures, when
taken collectively with our GAAP results, may be helpful to
investors because they provide consistency and comparability with
past financial performance and assist in comparisons with other
companies, some of which use similar non-GAAP financial information
to supplement their GAAP results.
Adjusted EBITDA is defined as net income (loss) before interest
and other income, taxes, and depreciation and amortization as
further adjusted for asset impairment costs, stock-based
compensation expense and related employer payroll taxes,
amortization of cloud-based software implementation costs, non-cash
charitable donations, and non-recurring costs such as major system
implementation costs and restructuring costs. Adjusted EBITDA
margin is defined as adjusted EBITDA divided by net revenue.
Adjusted net income (loss) is defined as net income (loss)
adjusted for stock-based compensation expense and related employer
payroll taxes, non-cash charitable donations, and non-recurring
costs such as major system implementation costs and restructuring
costs, and as further adjusted for estimated income tax on such
adjusted items.
Adjusted earnings (loss) per share is defined as adjusted net
income (loss) divided by adjusted weighted average shares
outstanding.
Adjusted COGS is defined as cost of goods sold adjusted for
stock-based compensation expense and related employer payroll
taxes.
Adjusted gross profit is defined as net revenue minus adjusted
COGS. Adjusted gross margin is defined as adjusted gross profit
divided by net revenue.
Adjusted SG&A is defined as SG&A adjusted for
stock-based compensation expense and related employer payroll
taxes, non-cash charitable donations, and non-recurring costs such
as major system implementation costs and restructuring costs.
The Non-GAAP Measures are presented for supplemental
informational purposes only. A reconciliation of historical GAAP to
Non-GAAP financial information is included under “Selected
Financial Information” below.
We have not reconciled our adjusted EBITDA margin guidance to
GAAP net income (loss) margin, or net margin, or adjusted EBITDA
guidance to GAAP net income (loss) because we do not provide
guidance for GAAP net margin or GAAP net income (loss) due to the
uncertainty and potential variability of stock-based compensation
and taxes, which are reconciling items between GAAP net margin and
adjusted EBITDA margin and GAAP net income (loss) and adjusted
EBITDA, respectively. Because such items cannot be reasonably
provided without unreasonable efforts, we are unable to provide a
reconciliation of the adjusted EBITDA margin guidance to GAAP net
margin and adjusted EBITDA guidance to GAAP net income (loss).
However, such items could have a significant impact on GAAP net
margin and GAAP net income (loss).
About Warby Parker
Warby Parker (NYSE: WRBY) was founded in 2010 with a mission to
inspire and impact the world with vision, purpose, and
style–without charging a premium for it. Headquartered in New York
City, the co-founder-led lifestyle brand pioneers ideas, designs
products, and develops technologies that help people see, from
designer-quality prescription glasses (starting at $95) and
contacts, to eye exams and vision tests available online and in
more than 200 retail stores across the U.S. and Canada.
Warby Parker aims to demonstrate that businesses can scale, do
well, and do good in the world. Ultimately, the brand believes in
vision for all, which is why for every pair of glasses or
sunglasses sold, they distribute a pair to someone in need through
their Buy a Pair, Give a Pair program. To date, Warby Parker has
worked alongside its nonprofit partners to distribute more than 15
million glasses to people in need.
Selected Financial Information
Warby Parker Inc. and
Subsidiaries
Consolidated Balance Sheets
(Unaudited)
(Amounts in thousands, except
share data)
September 30,
2023
December 31, 2022
Assets
Current assets:
Cash and cash equivalents
$
215,965
$
208,585
Accounts receivable, net
721
1,435
Inventory
63,617
68,848
Prepaid expenses and other current
assets
15,179
15,700
Total current assets
295,482
294,568
Property and equipment, net
151,109
138,628
Right-of-use lease assets
120,359
127,014
Other assets
7,929
8,497
Total assets
$
574,879
$
568,707
Liabilities and Stockholders’
Equity
Current liabilities:
Accounts payable
$
24,207
$
20,791
Accrued expenses
54,640
58,222
Deferred revenue
17,623
25,628
Current lease liabilities
23,086
22,546
Other current liabilities
2,254
2,370
Total current liabilities
121,810
129,557
Non-current lease liabilities
147,096
150,832
Other liabilities
1,362
1,672
Total liabilities
270,268
282,061
Commitments and contingencies
Stockholders’ equity:
Common stock, $0.0001 par value; Class A:
750,000,000 shares authorized at September 30, 2023 and December
31, 2022, 97,779,105 and 96,115,202 issued and outstanding at
September 30, 2023 and December 31, 2022, respectively; Class B:
150,000,000 shares authorized at September 30, 2023 and December
31, 2022, 19,479,598 and 19,223,572 shares issued and outstanding
as of September 30, 2023 and December 31, 2022, respectively,
convertible to Class A on a one-to-one basis
12
12
Additional paid-in capital
954,019
890,915
Accumulated deficit
(647,784
)
(603,634
)
Accumulated other comprehensive loss
(1,636
)
(647
)
Total stockholders’ equity
304,611
286,646
Total liabilities and stockholders’
equity
$
574,879
$
568,707
Warby Parker Inc. and
Subsidiaries
Consolidated Statements of
Operations (Unaudited)
(Amounts in thousands, except
share and per share data)
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
Net revenue
$
169,849
$
148,777
$
507,910
$
451,619
Cost of goods sold
77,117
64,359
229,752
191,208
Gross profit
92,732
84,418
278,158
260,411
Selling, general, and administrative
expenses
112,499
108,090
328,585
349,904
Loss from operations
(19,767
)
(23,672
)
(50,427
)
(89,493
)
Interest and other income (loss), net
2,655
(183
)
6,815
(75
)
Loss before income taxes
(17,112
)
(23,855
)
(43,612
)
(89,568
)
Provision for income taxes
301
(12
)
538
574
Net loss
$
(17,413
)
$
(23,843
)
$
(44,150
)
$
(90,142
)
Net loss per share attributable to common
stockholders, basic and diluted
$
(0.15
)
$
(0.21
)
$
(0.38
)
$
(0.79
)
Weighted average shares used in computing
net loss per share attributable to common stockholders, basic and
diluted
118,003,640
115,249,431
116,995,545
114,681,893
Warby Parker Inc. and
Subsidiaries
Consolidated Statements of
Cash Flows (Unaudited)
(Amounts in thousands)
Nine Months Ended September
30,
2023
2022
Cash flows from operating activities
Net loss
$
(44,150
)
$
(90,142
)
Adjustments to reconcile net loss to net
cash provided by operating activities:
Depreciation and amortization
28,184
22,947
Stock-based compensation
54,083
78,209
Non-cash charitable contribution
3,191
3,270
Asset impairment charges
1,407
1,509
Amortization of cloud-based software
implementation costs
1,679
96
Change in operating assets and
liabilities:
Accounts receivable, net
714
(126
)
Inventory
5,231
(13,522
)
Prepaid expenses and other assets
410
(4,546
)
Accounts payable
2,756
(9,209
)
Accrued expenses
(1,207
)
(4,319
)
Deferred revenue
(8,005
)
(5,796
)
Other current liabilities
(116
)
(6
)
Right-of-use lease assets and current and
non-current lease liabilities
3,458
6,346
Other liabilities
(309
)
1,820
Net cash provided by (used in) operating
activities
47,326
(13,469
)
Cash flows from investing activities
Purchases of property and equipment
(40,098
)
(45,966
)
Investment in optical equipment
company
(1,000
)
—
Net cash used in investing activities
(41,098
)
(45,966
)
Cash flows from financing activities
Proceeds from stock option exercises
1,017
295
Proceeds from shares issued in connection
with employee stock purchase plan
1,124
1,754
Proceeds from repayment of related party
loans
—
45
Net cash provided by financing
activities
2,141
2,094
Effect of exchange rates on cash
(989
)
(1,190
)
Net change in cash and cash
equivalents
7,380
(58,531
)
Cash and cash equivalents, beginning of
period
208,585
256,416
Cash and cash equivalents, end of
period
$
215,965
$
197,885
Supplemental disclosures
Cash paid for income taxes
$
400
$
471
Cash paid for interest
155
89
Cash paid for amounts included in the
measurement of lease liabilities
27,124
23,262
Non-cash investing and financing
activities:
Purchases of property and equipment
included in accounts payable and accrued expenses
$
5,941
$
4,819
Warby Parker Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures (Unaudited)
The following table reconciles adjusted EBITDA and adjusted
EBITDA margin to the most directly comparable GAAP measure, which
is net loss:
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
unaudited (in
thousands)
unaudited (in
thousands)
Net loss
$
(17,413
)
$
(23,843
)
$
(44,150
)
$
(90,142
)
Adjusted to exclude the following:
Interest and other income (loss), net
(2,655
)
183
(6,815
)
75
Provision for income taxes
301
(12
)
538
574
Depreciation and amortization expense
9,760
8,342
28,184
22,947
Asset impairment charges
757
1,097
1,407
1,509
Stock-based compensation expense(1)
16,466
24,358
54,496
78,603
Non-cash charitable donation(2)
2,591
—
3,191
3,270
Amortization of cloud-based software
implementation costs(3)
853
96
1,679
96
ERP implementation costs(4)
371
170
4,413
170
Restructuring costs(5)
—
1,535
—
1,535
Adjusted EBITDA
11,031
11,926
42,943
18,637
Adjusted EBITDA margin
6.5
%
8.0
%
8.5
%
4.1
%
(1)
Represents expenses related to the Company’s equity-based
compensation programs and related employer payroll taxes, which may
vary significantly from period to period depending upon various
factors including the timing, number, and the valuation of awards
granted, and vesting of awards including the satisfaction of
performance conditions. For the three months ended September 30,
2023 and 2022, the amount includes $0.2 million and $0.1 million,
respectively, of employer payroll costs associated with releases of
RSUs and option exercises. For both the nine months ended September
30, 2023 and 2022, the amount includes $0.4 million of employer
payroll costs associated with releases of RSUs and option
exercises.
(2)
Represents charitable expense recorded in connection with the
donation of 56,938 shares of Class A common stock to charitable
donor advised funds in June 2023 and 178,572 shares of Class A
common stock in both August 2023 and May 2022 to the Warby Parker
Impact Foundation.
(3)
Represents the amortization of costs capitalized in connection with
the implementation of cloud-based software.
(4)
Represents internal and external non-capitalized costs related to
the implementation of our new Enterprise Resource Planning (“ERP”)
system.
(5)
Represents employee severance and related costs for our
restructuring plan that was executed in August 2022.
Warby Parker Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures (Unaudited)
The following table presents our non-GAAP, or adjusted,
financial measures for the periods presented as a percentage of
revenue. Each cost and operating expense is adjusted for
stock-based compensation expense and related employer payroll taxes
and ERP implementation costs, if applicable.
Reported
Adjusted
Reported
Adjusted
Three Months Ended September
30,
Three Months Ended September
30,
Nine Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
2023
2022
2023
2022
(unaudited, in
thousands)
(unaudited, in
thousands)
(unaudited, in
thousands)
(unaudited, in
thousands)
Cost of goods sold
$
77,117
$
64,359
$
76,835
$
64,120
$
229,752
$
191,208
$
228,976
$
190,499
% of Revenue
45.4
%
43.3
%
45.2
%
43.1
%
45.2
%
42.3
%
45.1
%
42.2
%
Gross profit
$
92,732
$
84,418
$
93,014
$
84,657
$
278,158
$
260,411
$
278,934
$
261,120
% of Revenue
54.6
%
56.7
%
54.8
%
56.9
%
54.8
%
57.7
%
54.9
%
57.8
%
Selling, general, and administrative
expenses
$
112,499
$
108,090
$
93,353
$
82,266
$
328,585
$
349,904
$
267,261
$
267,035
% of Revenue
66.2
%
72.6
%
55.0
%
55.3
%
64.7
%
77.5
%
52.6
%
59.1
%
Net (loss) income
$
(17,413
)
$
(23,843
)
$
1,634
$
1,558
$
(44,150
)
$
(90,142
)
$
13,041
$
(4,225
)
% of Revenue
(10.3
)%
(16.0
)%
1.0
%
1.0
%
(8.7
)%
(20.0
)%
2.6
%
(0.9
)%
Warby Parker Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures (Unaudited)
The following table reflects a reconciliation of each non-GAAP,
or adjusted, financial measure to its most directly comparable
financial measure prepared in accordance with GAAP:
Three Months Ended September
30,
Nine Months Ended September
30,
2023
2022
2023
2022
(unaudited, in
thousands)
(unaudited, in
thousands)
Cost of goods sold
$
77,117
$
64,359
$
229,752
$
191,208
Adjusted to exclude the following:
Stock-based compensation expense(1)
282
239
776
709
Adjusted cost of goods sold
$
76,835
$
64,120
$
228,976
$
190,499
Gross profit
$
92,732
$
84,418
$
278,158
$
260,411
Adjusted to exclude the following:
Stock-based compensation expense(1)
282
239
776
709
Adjusted gross profit
$
93,014
$
84,657
$
278,934
$
261,120
Selling, general, and administrative
expenses
$
112,499
$
108,090
$
328,585
$
349,904
Adjusted to exclude the following:
Stock-based compensation expense(1)
16,184
24,119
53,720
77,894
Non-cash charitable donation(2)
2,591
—
3,191
3,270
ERP implementation costs(3)
371
170
4,413
170
Restructuring costs(4)
—
1,535
—
1,535
Adjusted selling, general, and
administrative expenses
$
93,353
$
82,266
$
267,261
$
267,035
Net loss
$
(17,413
)
$
(23,843
)
$
(44,150
)
$
(90,142
)
Provision for income taxes
301
(12
)
538
574
Loss before income taxes
(17,112
)
(23,855
)
(43,612
)
(89,568
)
Adjusted to exclude the following:
Stock-based compensation expense(1)
16,466
24,358
54,496
78,603
Non-cash charitable donation(2)
2,591
—
3,191
3,270
ERP implementation costs(3)
371
170
4,413
170
Restructuring costs(4)
—
1,535
—
1,535
Adjusted provision for income taxes(5)
(682
)
(650
)
(5,447
)
1,765
Adjusted net income (loss)
$
1,634
$
1,558
$
13,041
$
(4,225
)
Adjusted weighted average shares -
diluted
118,617,828
115,844,962
117,855,800
114,681,893
Adjusted diluted earnings (loss) per
share
$
0.01
$
0.01
$
0.11
$
(0.04
)
(1)
Represents expenses related to the Company’s equity-based
compensation programs and related employer payroll taxes, which may
vary significantly from period to period depending upon various
factors including the timing, number, and the valuation of awards
granted, and vesting of awards including the satisfaction of
performance conditions. For the three months ended September 30,
2023 and 2022, the amount includes $0.2 million and $0.1 million,
respectively, of employer payroll costs associated with releases of
RSUs and option exercises. For both the nine months ended September
30, 2023 and 2022, the amount includes $0.4 million of employer
payroll costs associated with releases of RSUs and option
exercises.
(2)
Represents charitable expense recorded in connection with the
donation of 56,938 shares of Class A common stock to charitable
donor advised funds in June 2023 and 178,572 shares of Class A
common stock in both August 2023 and May 2022 to the Warby Parker
Impact Foundation.
(3)
Represents internal and external non-capitalized costs related to
the implementation of our new ERP system.
(4)
Represents employee severance and related costs for our
restructuring plan that was executed in August 2022.
(5)
The adjusted provision for income taxes is based on long-term
estimated annual effective tax rate 29.46% in both 2023 and 2022.
The Company may adjust its adjusted tax rate as additional
information becomes available or events occur which may materially
affect this rate, including impacts from the rapidly evolving
global tax environment, significant changes in our geographic mix,
merger and acquisition activity, or changes in our business
outlook.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20231108562093/en/
Investor Relations: Jaclyn Berkley Brendon Frey
investors@warbyparker.com Media: Lena Griffin lena@derris.com
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