Company: WRBY
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001504776-25-000027
Chunk: 22

Company: Warby Parker Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 1
Chunk 22
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.0 million and $2.0 million, respectively, in a private optical equipment company. As part of these investments, the Company will automatically receive shares of the entity or cash based on a conversion price dependent upon an ultimate conversion event. The investments are recorded within other assets on the condensed consolidated balance sheets and are measured at cost less impairment, if any. No impairment has been recorded for the six months ended June 30, 2025 and 2024.Cloud-Based Software Implementation CostsThe Company enters into cloud-based software hosting arrangements for which it incurs implementation costs. Certain costs incurred during the application development stage are capitalized and included within prepaid expenses and other current assets or other assets, depending on the long or short-term nature of such costs. All other related costs are expensed as incurred. Capitalized cloud-based software implementation costs are amortized on a straight-line basis, from the date the related software or module is ready for its intended use through the end of the contractual term of the hosting arrangement, inclusive of any reasonably certain renewal periods, as a component of selling, general, and administrative expenses, the same line item as the expense for the associated hosting arrangement.As of June 30, 2025, the Company had $15.4 million of gross capitalized cloud-based software implementation costs and $7.7 million of related accumulated amortization, for a net balance of $7.6 million, made up of $3.1 million recorded within prepaid expenses and other current assets and $4.5 million recorded within other assets on the condensed consolidated balance sheets.As of December 31, 2024, the Company had $13.6 million of gross capitalized cloud-based software implementation costs and $6.4 million of related accumulated amortization, for a net balance of $7.2 million, made up of $2.8 million recorded within prepaid expenses and other current assets and $4.4 million recorded within other assets on the condensed consolidated balance sheets.During the three and six months ended June 30, 2025, the Company incurred $0.8 million and $1.5 million of amortization of capitalized cloud-based software implementation costs, respectively. During the three and six months ended June 30, 2024, the Company incurred $0.9 million and $2.0 million of amortization of capitalized cloud-based software implementation costs, respectively.Asset ImpairmentLong-lived assets, such as property and equipment, right-of