Warby Parker Q3 Results Top Estimates, Lifts FY21 Sales Outlook

Warby Parker Inc WRBY reported third-quarter FY21 sales growth of 32% year-on-year, to $137.37 million, beating the analyst consensus of $133.02 million.
Active Customers increased 23% Y/Y to 2.15 million.
The gross profit for the quarter rose 24.5% Y/Y to $79.7 million, while the gross margin fell 350 basis points to 58.0%.
The company's operating loss widened to $(91.9) million. Adjusted EBITDA rose 106% to $11.2 million with an adjusted EBITDA margin of 8.1%, expanding 290 basis points.
Adjusted EPS of $0.03 beat the analyst consensus of $(0.36).
The company held $266.2 million in cash and equivalents as of September 30, 2021.
Outlook: Warby Parker raised the FY21 net sales outlook to $539.5 million - $542 million (prior view $532 million - $537 million), above the consensus of $538.7 million.
Price Action: WRBY shares traded higher by 2.90% at $55.06 on the last check Friday.

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