Warby Parker expects a $14.4 million full-year tariff refund benefit that is being used partly to offset strategic investments ahead of the company’s first Intelligent Eyewear collection, which combines Warby Parker frames with Google Gemini technology.
The company received an $11.8 million tariff refund benefit during Q2, equivalent to approximately 500 basis points of gross margin. Warby Parker said the benefit was partially used to offset investments as it prepares for the Intelligent Eyewear launch.
Warby Parker’s 2026 outlook includes the full $14.4 million tariff refund benefit and expenses associated with preparing for Intelligent Eyewear. However, management has not included any revenue contribution or broader halo benefit from Intelligent Eyewear in its guidance, providing potential upside if the new category gains traction.
The eyewear was developed with Google and Samsung and incorporates Google Gemini. Warby Parker said the technology is designed to help wearers explore, remember, navigate and connect while maintaining their view of the surrounding world.
The investment comes as Warby Parker’s core business continues to expand. Q2 revenue increased 9.8% to $235.5 million, while trailing 12-month active customers increased 4.1% to 2.71 million. Average revenue per customer increased 6.6% to $336.
Adjusted EBITDA increased to $32.9 million, with Adjusted EBITDA margin expanding 230 basis points to 14%. Warby Parker ended the quarter with $292.7 million of cash and equivalents and opened 15 net new stores, bringing its total to 352 locations.
For the full year, Warby Parker continues to expect revenue of $959 million to $976 million, representing approximately 10% to 12% growth. Adjusted EBITDA is expected to reach $117 million to $119 million, while the company plans to open 50 new stores.
KEY QUOTES:
“In just a few weeks, we’ll unveil our first Intelligent Eyewear collection, marking the beginning of an exciting new chapter for Warby Parker and a whole new way for consumers to see and experience the world. For the past 16 years, we’ve helped millions of people see more clearly, and now we’re seamlessly integrating transformative technology into the frames people already love to wear every day.”
Dave Gilboa, Co-Founder And Co-CEO Of Warby Parker
“We’ve paired timeless design with Google Gemini to enrich consumers’ everyday lives, expanding not only what we can see, but what we can discover, understand, and imagine. Together with Google and Samsung, our team of eyewear designers obsessed over every detail to deliver exceptional fit and comfort, while incorporating technology that allows you to explore, remember, navigate, and connect while keeping your eyes on the world around you.”
Neil Blumenthal, Co-Founder And Co-CEO Of Warby Parker
“As we enter one of the most important periods in Warby Parker’s history, we’re making targeted investments across our business to ensure we’re ready for the launch of Intelligent Eyewear and building the capabilities needed to scale this new category over the longer term. We’re doing so while maintaining a prudent outlook that excludes Intelligent Eyewear revenue contributions expected later this year.”
Adrian Mitchell, Chief Financial Officer Of Warby Parker
