Company: WRBY
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001504776-25-000027
Chunk: 65

Company: Warby Parker Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 65
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 of the following:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Cost of goods sold$8,719 $7,374 $17,414 $14,475 Selling, general, and administrative expenses3,767 3,747 7,234 7,229 Total depreciation and amortization expense$12,486 $11,121 $24,648 $21,704 

4. Accrued Expenses

Accrued expenses consists of the following:June 30,2025December 31, 2024Product and fulfillment$20,883 $15,273 Payroll related11,719 10,409 Marketing10,980 9,333 Professional services3,900 2,193 Legal3,324 2,338 Retail related3,293 5,929 Charitable contributions2,649 3,315 Other3,823 2,819 Total accrued expenses$60,571 $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:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Income tax provision$(789)$373 $665 $481 Effective tax rate31.1 %(5.8)%27.9 %(5.4)%The Company’s effective income tax rate for the three and six months ended June 30, 2025 and 2024 differed from the U.S. statutory rate primarily due to the valuation allowance, non-deductible executive compensation, stock-based compensation, and other permanent items.

6. Stockholders’ Equity

Common StockAs of June 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