Warby Parker Inc. reported second-quarter fiscal year 2026 revenue of $235.5 million, representing a 9.8% year-over-year increase. The growth was driven by strong retail performance and higher average order values, despite softer traffic trends across the eyewear category.

Adjusted EBITDA stood at $32.9 million, or a 14% margin, expanding 230 basis points from the prior year. This result included an $11.8 million benefit from tariff refunds, which the company utilized to offset strategic investments in technology infrastructure and optical labs ahead of its upcoming Intelligent Eyewear launch.

Retail expansion and e-commerce dynamics

The company opened 15 net new stores in the quarter, bringing the total fleet to 352 locations across 43 states and two Canadian provinces. Retail revenue grew 13.6% year-over-year, supported by a 30% increase in eye exam volume. Eye exams now represent approximately 7% of total revenue, up from 6% a year ago.

E-commerce revenue remained flat at $58.7 million, declining 0.3% year-over-year due to the sunset of the Home Try-On program. Excluding this transitory headwind, underlying glasses and contacts order volume grew in the low double digits. Active customers increased 4.1% over the trailing twelve months, while average revenue per customer rose 6.6% year-over-year.

Guidance reaffirmed for FY26

Management reaffirmed full-year fiscal 2026 guidance, excluding any revenue contribution from the Intelligent Eyewear collection scheduled for launch this fall. The outlook incorporates the remaining tariff refunds and planned marketing investments.

What the numbers show

A key divergence in the results is the relationship between traffic and conversion. While management noted that store traffic remains softer than desired, average order values reached record highs. This suggests that while fewer customers are entering stores, those who do are spending more, driven by higher penetration of progressive lenses (23.4%) and insurance utilization. Insurance penetration rose to 8%, with over 35 million in-network lives, indicating that value-added services are effectively monetizing existing footfall even as top-of-funnel volume faces category-wide headwinds.

Warby Parker (NYSE: WRBY) has reaffirmed its sales guidance for FY2026, maintaining the range of $959.000 million to $976.000 million against a market estimate of $979.991 million. The company’s decision to keep its outlook unchanged signals a steady view of its near-term revenue trajectory, even as it trails analyst expectations by a narrow margin. This affirmation provides clarity on the firm’s financial planning for the fiscal year, allowing investors to assess the gap between internal targets and external consensus.

The updated filing confirms that Warby Parker sees no material shift in its revenue drivers that would warrant an adjustment to its previously stated goals. By sticking to the $959.000 million-$976.000 million band, the management indicates confidence in its operational execution while acknowledging the conservative stance relative to the $979.991 million estimate. This alignment with prior guidance suggests stability in the eyewear retailer’s business model and market demand during the period under review.

Guidance Details

What the Numbers Show

The persistence of the guidance gap highlights a divergence between Warby Parker’s internal forecasts and broader market sentiment. While the company maintains its position within the $959.000 million-$976.000 million range, the estimate of $979.991 million suggests analysts may be pricing in slightly more aggressive growth scenarios. This discrepancy does not necessarily indicate weakness but rather reflects differing assumptions about market penetration or average order values. Investors should monitor whether subsequent quarterly results bridge this gap or if the company’s conservative approach proves prudent amidst evolving consumer trends.