Company: WRBY
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001504776-25-000019
Chunk: 58

Company: Warby Parker Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 58
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 fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.

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Table of ContentsWarby Parker Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements (Unaudited)(Amounts in thousands, except per share data)

3. Property and Equipment, Net

Property and equipment, net consists of the following:March 31,2025December 31, 2024Leasehold improvements$193,953 $189,890 Computers and equipment51,826 46,186 Furniture and fixtures37,493 36,037 Capitalized software40,353 36,534 Construction in process17,403 20,460 341,028 329,107 Less: accumulated depreciation and amortization(167,233)(158,643)Property and equipment, net$173,795 $170,464 Depreciation and amortization expense consists of the following:Three Months Ended March 31,20252024Cost of goods sold$8,695 $7,101 Selling, general, and administrative expenses3,467 3,482 Total depreciation and amortization expense$12,162 $10,583 

4. Accrued Expenses

Accrued expenses consists of the following:March 31,2025December 31, 2024Product and fulfillment$15,043 $15,273 Marketing9,116 9,333 Payroll related8,006 10,409 Retail related5,557 5,929 Legal3,311 2,338 Professional services3,544 2,193 Charitable contributions2,215 3,315 Other5,004 2,819 Total accrued expenses$51,796 $51,609 

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Table of ContentsWarby Parker Inc. and SubsidiariesNotes to Condensed Consolidated Financial Statements (Unaudited)(Amounts in thousands, except per share data)

5. Income Taxes

The Company uses the estimated annual effective tax rate approach to determine the provision for income taxes. The estimated annual effective tax rate is based on forecasted annual results and may fluctuate due to differences between the forecasted and actual results, changes in valuation allowances, and any other transactions that result in differing tax treatment.The Company's income tax provision and effective tax rate were as follows: