Company: WRBY
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001504776-25-000033
Chunk: 28

Company: Warby Parker Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 28
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 30,Nine Months Ended September 30,2025202420252024(Benefit from) provision for income taxes$(125)$301 $540 $782 Effective tax rate(2.2)%(8.0)%6.6 %(6.1)%The Company’s effective income tax rate for the three and nine months ended September 30, 2025 and 2024 differed from the statutory rate primarily due to the change in valuation allowance, non-deductible executive compensation, stock-based compensation, and other permanent items.On July 4, 2025, the One Big Beautiful Bill Act ("OBBBA") was enacted in the United States. OBBBA provides changes to U.S. tax law including provisions related to bonus depreciation and research and development expenditures. OBBBA has multiple effective dates, with certain provisions effective in 2025 and others effective in 2026 and later. The Company included the impact of OBBBA during the three months ended September 30, 2025, the period of enactment, and the legislation did not have a material effect on the Company’s condensed consolidated financial statements. The Company will continue to evaluate the impact as additional guidance is issued.

6. Stockholders’ Equity

Common StockAs of September 30, 2025, the Company’s Twelfth Amended and Restated Certificate of Incorporation authorizes the issuance of up to 1,050,000 shares of common stock, par value of $0.0001 per share, of which 750,000 shares are designated Class A common stock, 150,000 shares are designated Class B common stock, and 150,000 shares are designated Class C common stock. Class A common stock receives one vote per share, Class B common stock receives ten votes per share, and Class C common stock has no voting rights except as required by Delaware law. Common stock is not redeemable at the option of the holder.As of September 30, 2025, outstanding shares of common stock as well as shares of common stock attributable to equity awards are as follows:Class AClass BClass CCommon stock outstanding105,475 16,563 — Stock options outstanding225 1,421 — Restricted stock units (“RSUs”) outstanding2,422 1,043 — Performance stock units (“PSUs”) outstanding236 4,398 — Employee stock plans – available35,755 — — Shares of Class A common stock iss