Company: WRBY
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001504776-25-000010
Chunk: 294

Company: Warby Parker Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 294
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 Class A common stock to charitable donor advised funds in June 2023, and 34,528 shares of Class A common stock to charitable donor advised funds in November 2022.

(3)    Represents the amortization of costs capitalized in connection with the implementation of cloud-based software.

(4)    Represents internal and external non-capitalized costs related to the implementation of our new Enterprise Resource Planning (“ERP”) system.

(5)    Represents employee severance and related costs for restructuring actions executed in October 2024 and August 2022 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 consolidated financial statements and notes included elsewhere in this Annual Report on Form 10-K. The following tables set forth our results of operations for the periods presented in dollars and as a percentage of net revenue:

Year Ended December 31,202420232022($ in thousands)Consolidated Statements of Operations Data:Net revenue$771,315 $669,765 $598,112 Cost of goods sold344,481 304,541 257,050 Gross profit426,834 365,224 341,062 Selling, general, and administrative expenses456,946 437,220 452,265 Loss from operations(30,112)(71,996)(111,203)Interest and other income, net10,597 9,232 1,307 Loss before income taxes(19,515)(62,764)(109,896)Provision for income taxes875 433 497 Net loss$(20,390)$(63,197)$(110,393)

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Year Ended December 31,202420232022% of Net RevenueConsolidated Statements of Operations Data:Net revenue100.0 %100.0 %100.0 %Cost of goods sold44.7 %45.5 %43.0 %Gross profit55.3 %54.5 %57.0 %Selling, general, and administrative expenses59.2 %65.3 %75.6 %Loss from operations(3.9)%(10.8)%(18.6)%Interest and other income, net1.4 %1.4 %0.2 %Loss before income taxes(2.5)%(9.4)%(18.4