Company: WRBY
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001504776-25-000027
Chunk: 106

Company: Warby Parker Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 2
Chunk 106
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 related to the implementation of major new enterprise software systems.

(4)    Represents one-time inventory write-downs primarily related to the decision to sunset our Home-Try On program at the end of this year.

(5)    Represents restructuring costs incurred in the second quarter of 2025 and charges for certain legal matters outside the ordinary course of business.

Results of Operations

The results of operations presented below should be reviewed in conjunction with the condensed consolidated financial statements and notes included elsewhere in this Quarterly Report on Form 10-Q. The following tables set forth our results of operations for the periods presented in dollars and as a percentage of net revenue:

Three Months Ended June 30,Six Months Ended June 30,2025202420252024(in thousands)(in thousands)Net revenue$214,475 $188,222 $438,257 $388,225 Cost of goods sold100,866 82,840 198,668 169,384 Gross profit113,609 105,382 239,589 218,841 Selling, general, and administrative expenses118,134 114,338 241,643 232,924 Loss from operations(4,525)(8,956)(2,054)(14,083)Interest and other income, net1,984 2,567 4,439 5,123 (Loss) income before income taxes(2,541)(6,389)2,385 (8,960)Provision for income taxes(789)373 665 481 Net (loss) income$(1,752)$(6,762)$1,720 $(9,441)

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Three Months Ended June 30,Six Months Ended June 30,2025202420252024% of Net Revenue% of Net RevenueNet revenue100.0 %100.0 %100.0 %100.0 %Cost of goods sold47.0 %44.0 %45.3 %43.6 %Gross profit53.0 %56.0 %54.7 %56.4 %Selling, general, and administrative expenses55.1 %60.8 %55.1 %60.0 %Loss from operations(2.1)%(4.8)%(0.4)%(3.6)%Interest and other income, net0.9 %1.4