Warby Parker (WRBY) Q4 FY2025 earnings: revenue $212 million, up 11.2% on the year

Warby Parker Inc. (WRBY) reported revenue of $212 million for Q4 FY2025, the quarter ended 31 December 2025, up 11.2% on the same quarter a year earlier. Net income was -$6 million, and diluted earnings per share $-0.05. The figures are the company's own, from the 10-K it filed with the SEC on 26 February 2026.

Revenue$212 millionup 11.2%

Net income-$6 million

Diluted EPS$-0.05

QuarterQ4 FY2025ended 31 December 2025

The quarter, against the one before and a year earlier

Line	Q4 FY2025	Q3 FY2025	Q4 FY2024	Change on the year
Revenue	212	222	191	+11.2%
Cost of revenue	101	102	87.5	+15.3%
Gross profit	111	120	103	+7.7%
Gross margin	52.4%	54.1%	54.1%
Selling, general and administrative	118	116	113	+4.8%
Operating income	-6.9	3.6	-9.4	n/a
Operating margin	-3.2%	1.6%	-4.9%
Pre-tax income	-5.1	5.7	-6.8	n/a
Income tax	0.9	-0.1	0.1	+826.9%
Effective tax rate	n/a	-2.2%	n/a
Net income	-6.0	5.9	-6.9	n/a
Net margin	-2.8%	2.6%	-3.6%
Diluted EPS	-$0.05	$0.05	-$0.06	n/a

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2025	Q3 FY2025	Q4 FY2024	Change on the year
Operating cash flow	23.3	18.0	19.9	+16.8%
Capital expenditure	15.1	19.5	17.7	-14.7%
Free cash flow	8.1	-1.5	2.2	+271.2%
Free cash flow margin	3.8%	-0.7%	1.1%
Cash from investing	-15.1	-19.5	-17.7	n/a
Cash from financing	-2.3	-4.6	1.2	n/a
Depreciation and amortisation	13.1	12.5	12.3	+6.2%
Share-based compensation	6.3	7.0	8.6	-27.3%
Diluted shares, weighted	123m	125m	121m	+1.5%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2025	Q3 FY2025	Q4 FY2024	Change on the year
Shareholders' equity	368	370	340	+8.1%
Debt	0.0	0.0	0.0	n/a
Operating lease liabilities	202	204	205	-1.6%
Other liabilities	151	133	131	+15.3%
Total liabilities and equity	721	707	676	+6.6%
Fixed assets	187	183	170	+10.0%
Cash and equivalents	286	280	254	+12.7%
Receivables	3.3	1.1	1.9	+68.6%
Inventory	44.5	45.6	52.3	-15.0%
Other assets	199	197	198	+0.9%
Total assets	721	707	676	+6.6%

Questions

What was Warby Parker's revenue in Q4 FY2025?

Warby Parker (WRBY) reported revenue of $212 million for Q4 FY2025, the quarter ended 31 December 2025, up 11.2% on the same quarter a year earlier.

How much did Warby Parker earn in Q4 FY2025?

Net loss for Q4 FY2025 was $6 million, and the diluted loss per share $0.05.

When did Warby Parker report Q4 FY2025 results?

Warby Parker filed its 10-K for the year that ended with the quarter on 26 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026
Revenue	170	162	200	188	192	191	224	214	222	212	242	236
Cost of revenue	77.1	74.8	86.5	82.8	87.6	87.5	97.8	101	102	101	111	99.1
Gross profit	92.7	87.1	113	105	105	103	126	114	120	111	131	136
Gross margin	55%	54%	57%	56%	54%	54%	56%	53%	54%	52%	54%	58%
SG&A	112	109	119	114	111	113	124	118	116	118	129	133
Operating income	-19.8	-21.6	-5.1	-9.0	-6.6	-9.4	2.5	-4.5	3.6	-6.9	1.7	3.2
Operating margin	-12%	-13%	-3%	-5%	-3%	-5%	1%	-2%	2%	-3%	1%	1%
Pre-tax income	-17.1	-19.2	-2.6	-6.4	-3.8	-6.8	4.9	-2.5	5.7	-5.1	4.0	5.3
Tax rate	n/a	n/a	n/a	n/a	n/a	n/a	30%	n/a	-2%	n/a	21%	12%
Net income	-17.4	-19.0	-2.7	-6.8	-4.1	-6.9	3.5	-1.8	5.9	-6.0	3.2	4.6
Net margin	-10%	-12%	-1%	-4%	-2%	-4%	2%	-1%	3%	-3%	1%	2%
Diluted EPS	-$0.15	-$0.16	-$0.02	-$0.06	-$0.03	-$0.06	$0.03	-$0.01	$0.05	-$0.05	$0.03	$0.04
Operating cash flow	19.9	13.7	19.9	31.6	27.3	19.9	29.4	40.2	18.0	23.3	24.5	29.6
Capital expenditure	15.5	13.6	14.4	17.7	14.2	17.7	16.2	16.3	19.5	15.1	16.1	22.9
Free cash flow	4.4	0.1	5.5	14.0	13.1	2.2	13.2	23.9	-1.5	8.1	8.4	6.8
Filing	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2025, filed 26 February 2026, accession 0001504776-26-000006: the filing on EDGAR. All of Warby Parker Inc.'s filings: EDGAR company page.

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