Warby Parker Inc. · NYSE:WRBY
Warby Parker — Q3 2026 Earnings Presentation
20 slides from Warby Parker's earnings presentation, Nov 5, 2026
Slide 1: Third Quarter 2026 Earnings Report
Third Quarter 2026 Earnings Report Speakers: DAVE GILBOA | Co-Founder & Co-CEO NEIL BLUMENTHAL | Co-Founder & Co-CEO ADRIAN MITCHELL | SVP, Chief Financial Officer
Slide 2: Forward-Looking Statements / Non-GAAP Financial Measures
Forward-Looking Statements / Non-GAAP Financial Measures This presentation contains 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
Slide 3: MIMO
MIMO
Slide 4: Our mission: to help people see
o t help people see. ]
Slide 5: Company Overview
Company Overview 1. Since 2010, we’ve offered high-quality prescription eyewear—designed in-house—starting at $95 and delivered industry-leading customer experiences. 2. We’ve helped pioneer the vertically integrated, direct-to-consumer model while evolving from a glasses-only business into a holist
Slide 6: Beechwood Shopping Center (Athens, GA)
Beechwood Shopping Center (Athens, GA)
Slide 7: Q3 2026: Financial Highlights
Q3 2026: Financial Highlights $245M 10.4% 6.7% 54.6% $29M 11.7% (1) Key operating metric. See definition in appendix. (2) Non-GAAP financial term. See appendix for definitions and reconciliations of non-GAAP measures. 7
Slide 8: Slide 8
Slide 9: Intelligent Eyewear
Intelligent Eyewear Capture the moment Snap high-quality photos and videos instantly Open-ear audio Listen to songs, podcasts, audiobooks, and more—without tuning out the world Built-in Gemini AI Ask questions about your surroundings and get instant answers with Gemini Real-time translation Get real
Slide 10: Quarterly Financial Performance
Quarterly Financial Performance $245 $29 $222 $26 $192 $17 y/y growth % margin 11.6% 11.7% 13.3% 15.2% 9.0% 10.4% (1) Non-GAAP financial term. See appendix for definitions and reconciliations of non-GAAP measures. 10
Slide 11: Quarterly Business Highlights
Quarterly Business Highlights $242.4 $235.5 $244.7 $223.8 $221.7 2.71 2.74 $214.5 $212.0 2.69 2.69 2.66 2.60 2.57 8.7% 9.0% 9.3% 13.9% 15.2% 7.0% 11.9% 11.2% 4.8% 9.8% 10.4% 4.1% 3.0% 8.3% $32.9 $29.2 $29.6 $28.6 $331 $336 $342 $25.0 $25.7 $310 $316 $320 $324 $15.2 13.1% 11.6% 12.2% 14.0% 6.9% 6.6%
Slide 12: Compelling and Consistent Sales Retention Rates
Compelling and Consistent Sales Retention Rates >100% ~80% ~50% ~25% Source: Company data 12 Note: Sales Retention Rate based on customer cohort sales order value and months since initial purchase. Only cohorts with a full period of data available as of 9/30/2026 are presented.
Slide 13: Expanding Retail Footprint with Significant White Space for New Stores
Expanding Retail Footprint with Significant White Space for New Stores 900+ 364 364 open retail stores 359 U.S. and 5 Canada ~90% of stores offer exams 45 states or provinces Current Potential 280 cities 12 net new retail stores in Q3 2026 footprint footprint(1) Store presence in 48 of the 50 most p
Slide 14: Slide 14
Slide 15: Full Year 2026 Outlook
Full Year 2026 Outlook Net Revenue Adjusted EBITDA(1) $966M–$976M $117M–$119M ~11–12% y/y growth 12.2% margin(1)(2) Q4 2026 Outlook Net Revenue Adjusted EBITDA(1) ~$243M–$253M ~$26M–$28M ~15–20% y/y growth 10.9% margin(1)(2) (1) Non-GAAP financial term. See appendix for definition of non-GAAP measures
Slide 16: Supplemental Details
Supplemental Details
Slide 17: Non-GAAP Financial Measures and Key Operating Metrics
Non-GAAP Financial Measures and Key Operating Metrics Included in this presentation are certain financial measures that are not calculated in accordance with U.S. generally accepted accounting principles (“GAAP”) and which are designed to supplement, and not substitute, the Company’s financial informa
Slide 18: Reconciliation of Adjusted EBITDA to Net Income
@ (2) (3) (4) (5) Reconciliation of Adjusted EBITDA to Net Income Three Months Ended September 30 Nine Months Ended September 30 Unaudited, in thousands 2026 2025 2026 2025 Net income $5,603 $5,874 $13,424 $7,594 Adjusted to exclude the following: Interest and other income, net (2,609) (2,179) (7,02
Slide 19: Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures Three Months Ended September 30 Nine Months Ended September 30 Unaudited, in thousands 2026 2025 2026 2025 Cost of goods sold $111,564 $101,735 $322,024 $300,401 Adjusted to exclude the following: Stock-based compensation expense” 428 299 1,167 882 Inventory write
Slide 20: Thank You
Thank You