Warby Parker Q2 revenue up 9.8% on customer growth

Warby Parker reaffirmed its 2026 guidance and said it is investing ahead of the Intelligent Eyewear launch.

The company sees 2026 net revenue of $959 million to $976 million, up 10% to 12% year over year, and expects 2026 adjusted EBITDA of $117 million to $119 million, with a margin of 12.2%. The 2026 guidance includes a $14.4 million tariff refund benefit and excludes Intelligent Eyewear revenue.

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 10 "strong buy" or "buy", 6 "hold" and no "sell" or "strong sell".

The average consensus recommendation for the miscellaneous specialty retailers peer group is "buy". Wall Street's median 12-month price target for Warby Parker Inc is $31.50, about 7.6% above its August 5 closing price of $29.27.

The stock recently traded at 51 times the next 12-month earnings vs. a P/E of 40 three months ago.

Warby Parker's second-quarter revenue grew 9.8% year over year, slightly missing analyst expectations, as active customer growth and higher average revenue per customer supported sales.

Net income rose to $4.6 million, helped by an $11.8 million tariff refund. Adjusted EBITDA was $32.90 million, with an adjusted EBITDA margin of 14.00%.

The company said active customers rose 4.1% year over year and average revenue per customer increased 6.6%, supporting revenue growth.

SG&A expenses increased due to retail compensation and technology costs tied to the Intelligent Eyewear launch.