Company: WRBY
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001504776-25-000019
Chunk: 24

Company: Warby Parker Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 24
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 jurisdiction. The ASU is effective for annual periods beginning after December 15, 2024 and can be applied prospectively or retrospectively. The Company plans to adopt this standard in the fourth quarter of its 2025 fiscal year, which will result in additional income tax disclosures, including those related to the rate reconciliation, within the Company’s 2025 Form 10-K.In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures. The guidance requires disaggregated disclosure of income statement expenses for public entities. The ASU does not change the expense captions an entity presents on the face of the income statement; rather, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. This ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within 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