Company: WRBY
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001504776-25-000033
Chunk: 108

Company: Warby Parker Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 108
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 Impact Foundation.

(3)    Represents costs related to the implementation of major new enterprise software systems.

(4)    Represents one-time inventory write-downs primarily related to the decision to sunset our Home-Try On program at the end of this year.

(5)    Represents restructuring costs incurred in the second quarter of 2025 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 condensed consolidated financial statements and notes included elsewhere in this Quarterly Report on Form 10-Q. The following tables set forth our results of operations for the periods presented in dollars and as a percentage of net revenue:

Three Months Ended September 30,Nine Months Ended September 30,2025202420252024(in thousands)(in thousands)Net revenue$221,680 $192,447 $659,937 $580,672 Cost of goods sold101,735 87,580 300,401 256,964 Gross profit119,945 104,867 359,536 323,708 Selling, general, and administrative expenses116,375 111,480 358,020 344,404 Income (loss) from operations3,570 (6,613)1,516 (20,696)Interest and other income, net2,179 2,842 6,618 7,965 Income (loss) before income taxes5,749 (3,771)8,134 (12,731)(Benefit from) provision for income taxes(125)301 540 782 Net income (loss)$5,874 $(4,072)$7,594 $(13,513)

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Three Months Ended September 30,Nine Months Ended September 30,2025202420252024% of Net Revenue% of Net RevenueNet revenue100.0 %100.0 %100.0 %100.0 %Cost of goods sold45.9 %45.5 %45.5 %44.3 %Gross profit54.1 %54.5 %54.5 %55.7 %Selling, general, and administrative expenses52.5 %57.9 %54.2 %59.3 %Income (loss) from operations1.6 %(3.4)%0.3 %(