Company: WRBY
Filing Date: 2025-04-28
Form Type: DEF 14A
Source: 0001104659-25-040245
Chunk: 70

Company: Warby Parker Inc.
Filing Date: 2025-04-28
Form: DEF 14A
Chunk 70
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 alternative to, our reported results prepared in accordance with GAAP. In addition, our non-GAAP financial information may not be comparable to similarly titled measures reported by other companies. “Adjusted EBITDA” is defined as net income (loss) before interest and other income, taxes, and depreciation and amortization as further adjusted for asset impairment costs, stock-based compensation expense and related employer payroll taxes, amortization of cloud-based software implementation costs, non-cash charitable donations, charges for certain legal matters outside the ordinary course of business, and non-recurring costs such as restructuring costs and major system implementation costs. “Adjusted EBITDA Margin” is defined as adjusted EBITDA divided by net revenue. “Free Cash Flow” is defined as net cash provided by operating activities minus purchases of property and equipment. A-1

TABLE OF CONTENTS

Warby Parker Inc. and Subsidiaries
Reconciliation of GAAP to Non-GAAP Measures (Unaudited) The following table reconciles adjusted EBITDA and adjusted EBITDA margin to the most directly comparable GAAP measure, which is net loss:

| ​                                                            
 ​                                                            | ​ 
 ​ | ​ 
 ​ | Year Ended               
 December 31,2024         |   |         |   | ​ | ​ | December 31,2023 |   |         |   | ​ 
 ​ |
|:-------------------------------------------------------------|:--|:--|:-------------------------|:--|--------:|:--|:--|:--|:-----------------|:--|--------:|:--|:--|
| ​                                                            | ​ | ​ | -unaudited, in thousands |   |         |   |   |   |                  |   |         |   | ​ |
| Net loss                                                     | ​ | ​ | ​                        | $ | -20,390 | ​ | ​ | ​ | ​                | $ | -63,197 | ​ | ​ |
| Adjusted to exclude the following:                           | ​ | ​ | ​                        | ​ |       ​ | ​ | ​ | ​ | ​                | ​ |       ​ | ​ | ​ |
| Interest and other loss, net                                 | ​ | ​ | ​                        | ​ | -10,596 | ​ | ​ | ​ | ​                | ​ |  -9,232 | ​ | ​ |
| Provision for income taxes                                   | ​ | ​ | ​                        | ​ |     875 | ​ | ​ | ​ | ​