Warby Parker stock soars on Q2 earnings
Yahoo Finance anchors discuss Warby Parker's latest quarterly earnings.
Video Transcript
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BRAD SMITH: Welcome back to "Yahoo Finance Live," everyone. Warby Parker reporting a widening net loss in its latest quarter. The eyeglasses retailer reducing its revenue outlook for the year in light of the uncertain macroeconomic environment here. Their active customers actually increased 8.7%. This came in at about 2.26 million. And particularly, here on the revenue side of the business, that increased 13.7%.
There you're taking a look at some of the actuals versus the estimates on your screen. The company also saying, this was another quarter where Warby made strong progress against some of their strategic growth initiatives. They gained market share, and said that they delighted customers despite shifts in consumer spending right now. To which, of course, that means eyeglasses as well.
BRIAN SOZZI: Always important to delight your customers. You know, these aren't the exact-- I mean, this isn't the exact comparison but I always loop in Allbirds and Warby Parker. They're part of that same IPO class, very hyped companies before their IPOs. Obviously, selling different things.
But you know, you look at Warby Parker's quarter, you noted the increase in active customers, up 8.7%. They were actually adjusted EBITDA profitable. So if you stack these two quarters together compared to what we heard Allbirds early in the week, Warby Parker's quarter, by and large, pretty good inventory, not necessarily out of whack with sales.
BRAD SMITH: Yeah, and I think as more people are opting back into their optometrist visits, if you will--
BRIAN SOZZI: I knew you were going there. I knew it.
BRAD SMITH: Looking to make sure that they can get those check-ins that they weren't able to get two years ago or perhaps even last year. Now, that some of the offices and the elective procedures or the elective check-ins have even reemerged, I think that's exactly where Warby Parker has an opportunity, especially in those storefronts that they've continued to move forward with. And I think that's a critical part of this, too. This is a company that has really ramped up its brick-and-mortar presence.
