Company: WRBY
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0001504776-25-000027
Chunk: 73

Company: Warby Parker Inc.
Filing Date: 2025-08-08
Form: 10-Q
Item: Part I, Item 8
Chunk 73
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 summary of significant accounting policies.The CODM assesses performance for the holistic vision care segment and decides how to allocate resources based on net income that is also reported on the income statement as consolidated net income. The measure of segment assets is reported on the balance sheet as total consolidated assets. The CODM uses net income when determining whether to reinvest profits into the holistic vision care segment or to use them for acquisitions or other transactions. Net income is also used in the evaluation of budget versus actual performance.Segment profit and loss for the holistic vision care segment consists of the following:Three Months Ended June 30,Six Months Ended June 30,2025202420252024Revenue$214,475 $188,222 $438,257 $388,225 Less:Cost of goods sold100,866 82,840 198,668 169,384 Marketing26,040 22,383 53,913 47,241 Other selling, general, and administrative costs92,094 91,955 187,730 185,683 Interest and other income, net(1,984)(2,567)(4,439)(5,123)Income tax expense(789)373 665 481 Segment and consolidated net (loss) income$(1,752)$(6,762)$1,720 $(9,441)

10. Commitments and Contingencies

2024 Credit FacilityIn February 2024, the Borrowers entered into a Credit Agreement with JPMorgan Chase Bank, N.A. and the lenders party thereto (the “2024 Credit Facility”), which replaced a previous credit facility. The 2024 Credit Facility consists of a $120.0 million five-year revolving credit facility with sublimits of $15.0 million for letters of credit and $10.0 million for swingline loans. The 2024 Credit Facility includes an option for the Company to increase the available amount by up to $55.0 million, for a maximum borrowing capacity of $175.0 million, subject to the consent of the lenders funding the increase and certain other conditions. Proceeds of the borrowings under the 2024 Credit Facility are expected to be used for working capital and other general corporate purposes in the ordinary course of business. The Company is permitted to repay borrowings under the 2024 Credit Facility at any time, in whole or in part, without penalty.Under the 2024 Credit Facility, borrowings under