Warby Parker Inc. grew revenue more than 10% year over year in its fiscal Q1, which ended March 31.
Q1 marked a milestone for Warby Parker, co-founder and co-CEO Neil Blumenthal told investors on the retailer’s earnings call. It was the first time Warby Parker achieved positive generally accepted accounting principles (GAAP) net income since going public in September 2021.
He attributed the success to the retailer’s “continued focus on customers,” referring both to their experience and acquisition. The Q1 revenue growth came as Warby Parker increased its active customers 8.7% to 2.57 million in the last 12 months. Q1 also marked the seventh straight quarter of growing active customers, he added.
Warby Parker also opened 11 new stores in Q1, which Blumenthal said has the retailer on track to open 45 total in 2025. The 45 would include shop-in-shop locations inside Target, which he said will open in the second half of 2025.
Warby Parker ranks No. 351 in the Top 2000 Database. The Top 2000 is Digital Commerce 360’s ranking of North America’s largest ecommerce retailers.
Warby Parker’s supply chain, price changes offset tariffs
About 20% of the products Warby Parker sells originate from China. That’s “down meaningfully” over the past five years, Blumenthal said. By the end of 2025, it expects less than 10% of its products to come from China.
The retailer produces frames in various countries across Asia and Europe. It also purchases lenses from countries in Asia as well as in the U.S.
“We’ve reallocated frame production away from our Chinese partners to other trusted partners in Europe and Asia and have a healthy balance of frame inventory in place,” Blumenthal told investors.
“We’ve already moved a significant portion of our lens sourcing out of China, primarily to U.S. partners,” Blumenthal said. “The speed and efficiency of this transition reflects the strength of our supplier relationships. In short, we’ve dramatically accelerated a multiyear supply chain diversification strategy that was already underway.”
The retailer also purchases its “more complex lens types” in real time, giving it the flexibility to shift production across its global network, he said. Co-founder and co-CEO Dave Gilboa said Warby Parker has introduced lens types and lens enhancements like progressives, blue light filtering, anti-fatigue and light responsive. It has also added frame collections “using a range of materials and more complex constructions at higher price points.”
Gilboa said Warby Parker customers have responded positively to the additions “with no signs of price resistance,” over the years. That has led to steady increases in average revenue per customer, he added.
“While we don’t take price increases lightly, a component of our tariff mitigation plan is to make targeted and strategic price adjustments to a subset of our products where the new prices still enable us to offer exceptional value relative to comparable offerings elsewhere,” Gilboa said.
Warby Parker revenue Q1
In Q1, Warby Parker net revenue increased to $23.8 million. That’s up 11.9% from $223.8 million in Q1 2024. The growth came even as the prior Q1 had an extra day because it was a leap year.
Warby Parker retail revenue increased 14.8% year over year in Q1. Meanwhile, Warby Parker ecommerce revenue grew 5.5% year over year, its highest quarterly growth since 2021, according to chief financial officer Steve Miller. Additionally, Warby Parker’s average revenue per customer increased 4.8% in Q1, to $310.
By product, Miller said, Warby Parker’s revenue from glasses grew 9.1% year over year in Q1. Contact lens revenue increased 25.1%, and eye care 40%.
Both contacts and eye care accounted for larger shares of Warby Parker revenue in Q1 2025 than in 2024. For contacts, the share grew to 10.3% from 9.2% of revenue. And for eye care, the share grew to 5.8% from 4.7%.
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