Warby Parker Results Presentation Deck
March 2022, 32 slides
  1. Warby Parker
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and full year earnings report parker | Warby Parker
i tat a a i a i a a this presentation contains forward looking statements within the meaning of section a of the securities act of as amended and section of the securities exchange act of 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 our and non guidance for the quarter ending march and the year ending management 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 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 additional information regarding these and other risks and uncertainties is included in our quarterly report on form for the quarterly period ended and will be included in our annual report on form for the year ended forward looking statements should not be read as a guarantee of future performance or results 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 in addition this presentation contains certain non financial terms the non measures are presented for supplemental informational purposes only reconciliations to the most directly comparable financial measure calculated and presented in accordance with are provided in the appendix to this presentation | Warby Parker
i i i i as i a i at founding we pioneered ideas designed pro and developed technologies help people see | Warby Parker
i our sales represent just of the billion eyewear market we maintain a best in class of with low unaided brand awareness of less than we helped pioneer the vertically integrated direct to consumer model parker has stores out of optical shops in the we are evolving from a glasses only product offering into a holistic vision care company our ultimate objective is vision for all which is why for every pair of glasses or sunglasses we sell a pair of glasses is distributed to someone in need overview | Warby Parker
a i a i a i i a i a a i a a i a a i full year financial highlights net revenue net revenue growth active customers average revenue per customer so net promoter score stores adjusted adjusted margin | Warby Parker
i to a i grew active customer base to million opened stores doubled revenue from our contact lens offering opened a second in house optical lab this time in las launched collections became the first public benefit corporation to go public through a direct listing milestones and accomplishments | Warby Parker
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a i i i became a public benefit corporation certified as a corporation publicly launched the parker impact foundation surpassed more than million pairs of glasses via our buy a pair give a pair program expanded pupils project to new school districts gan advancing mission | Warby Parker
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a i a key highlights quarterly net revenue full year net revenue i a net revenue growth of and up active customers as of at an increase of active customers or opened new stores in ending the quarter with stores open highlights net revenue of representing growth of and up opened new stores through performance mens per customer | Warby Parker
a i a a i a quarterly adjusted full year adjusted key highlights highlights margin performance of revenue gross margin of revenue gross margin | Warby Parker
i a i a i revenue store count adjusted impact of omicron financial details | Warby Parker
a i a i a i revenue average revenue per customer active customers adjusted full year financial details | Warby Parker
i i i i i i i a i open retail stores and canada markets states provinces cities target new retail stores in store presence in of the most populous markets in the location types street outdoor center indoor center number of store locations current footprint potential footprint expanding with significant white space for parker | Warby Parker
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a pit i | Warby Parker
a | Warby Parker
at i i i i our our core ess ing into a holistic vision care company driving bra awa open stores to end the year with deepen penetration of progressives customers introduce new sizes shapes widths and lens offerings maintain highly productive store economics continue to focus on innovation in our category leading experience and digital tools scale contacts business grow eye exam business through improved end to end experience expand capabilities of virtual vision test amplify reach by utilizing strategic mix of organic and paid initiatives experiment with more dynamic and segmented messaging cross sell users into new categories priorities scaling expanding glasses evolving brand awareness | Warby Parker
a a i a i full year outlook net revenue net revenue growth adjusted margin | Warby Parker
outlook net revenue net revenue growth | Warby Parker
i a a i a i a i long term outlook for sustainable growth net revenue growth gross margins adjusted margin | Warby Parker
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i supplemental detail | Warby Parker
i a a i i net revenue by quarter onset and continuation of pandemic consistent seasonality covid lieu seam soh fey | Warby Parker
i i a i i i i cumulative average sales order value per customer customers who purchase holistic offering glasses contacts and exams have a cumulative average value that is higher after one year than customers who just purchase glasses and higher at initial purchase future growth opportunities lead to customer over time customer months only customer of | Warby Parker
i a i a i at sales retention rate by customer cohort months months months months compelling and consistent rates | Warby Parker
a i a i appendix | Warby Parker
i a i a i at i unaudited in thousands as reported net revenue gross profit of revenue total a of revenue net income loss of revenue adjusted unaudited in thousands net revenue adjusted gross profit of revenue adjusted a of revenue adjusted net income loss of revenue adjusted of revenue supplemental financial information | Warby Parker
i i at i a i a i reconciliation of adjusted to net income all numbers in thousands unaudited net loss transaction costs adjusted adjusted margin | Warby Parker
i a i a i at i supplemental financial information reported adjusted reported adjusted of revenue a i | Warby Parker
i i at i a a a the following table reflects a reconciliation of each non or adjusted financial measure to its most directly comparable financial measure prepared in accordance with measures unaudited thousands stock based compensation expense cost goods sold gross profit stock based compensation expense gross profit selling general and administrative expenses exclude transaction costs selling general and administrative expenses net loss income stock based compensation expense non cash charitable donation transaction costs provision for income taxes net income loss net income loss attributable common stock weighted average shares diluted diluted earnings per share | Warby Parker
thank you ean an | Warby Parker
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