Recent News
On June 8, 2026 the company held its annual meeting of stockholders. On June 2, 2026 Warby Parker participated in the Baird Global Consumer, Technology & Services conference. On July 8, 2026 the company issued a tranche update related to its equity buyback plan.
Technical Analysis
Directional indicators show no established trend: ADX at 9.67 signals lack of trend strength while DI+ at 20.77 declines and DI- at 19.22 has completed a dip-and-reversal; that combination creates a bearish directional bias without strong trend traction.
MACD reads -0.31 with the MACD line below the signal line (-0.13) and falling; this configuration denotes bearish momentum and confirms recent downside bias rather than a fresh momentum reversal.
MRO sits positive at 8.65 and trending lower, indicating price currently sits above the model target and carries modest pressure toward correction back toward fair-target levels.
RSI near 48 and decreasing places momentum marginally below neutral, implying drift toward bearish territory rather than oversold support that would attract buyers.
Price sits below short-term averages: 12-day EMA at $25.82 and the 20-day average at $26.02, with the 50-day average at $26.89. The close at $24.60 sits just under the 1x Bollinger lower band ($24.82) and above the 2x lower band ($23.61), placing the stock near the lower edge of recent volatility bands and within a lower-range trading band.
Ichimoku components lie above the market (Tenkan-sen $26.48, Kijun-sen $27.25, Senkou A/B $27.01/$26.18), reinforcing short-to-intermediate resistance levels. Short-term EMA trend and SuperTrend upper at $28.20 act as additional overhead resistance, while 52-week low and recent lower-band levels form nearby downside reference points.
Volatility and market sensitivity appear elevated: 42-day beta 2.59 and 52-week beta 2.16 suggest outsized moves relative to the market; recent volume remains below longer-term averages, implying thinner conviction behind price moves.
Fundamental Analysis
Top-line and margins: Total revenue for the period stands at $235,511,000 with YoY revenue change of -31.21% and quarter-over-quarter change of -119.90% as reported; those declines reflect meaningful top-line contraction on a year-over-year basis. Gross margin at 57.94% improved YoY and QoQ, representing a material edge versus the industry peer mean (40.76%) and industry peer median (42.60%). Operating (EBIT) margin equals 1.35%, which improved sharply QoQ (+95.49%) but fell sharply YoY (-163.74%) and remains well below the industry peer mean (13.46%) and median (15.63%).
Profitability and earnings: Net income totaled $4,644,000 with EBIT $3,167,000 and EBITDA $17,237,000. Reported EPS reached $0.15 versus an estimate of $0.11, producing an EPS surprise ratio of 36.36%. Earnings growth on the latest reporting period shows a positive sequential indicator (earnings growth 36.36%), but YoY growth registered -184.85%.
Liquidity and cash: Cash and short-term investments total $292.67M and operating cash flow reached $29.62M with free cash flow $6.76M (free cash flow yield 0.21%). The current ratio stands at 2.27, above the industry peer mean of 1.16 and industry peer median of 1.02, providing a comfortable near-term liquidity buffer. Cash conversion cycle measures 4.87 days and shortened both QoQ and YoY, supporting working-capital efficiency.
Leverage and returns: Total debt $250.98M yields debt-to-assets of 32.50% and debt-to-equity of 0.64; interest-coverage at 1.69 remains well below the industry peer mean (14.09), indicating tighter coverage despite manageable absolute debt levels. Return on equity registers 1.19% and return on assets 0.62%, both below industry peer means and medians where those comparators exist.
Operational efficiency: Asset turnover equals 0.312, roughly in line with the industry peer mean (0.319). Inventory turns and receivables turnover remain stable; inventory days around 36 and receivables turnover high, reflecting rapid collection relative to peers.
Valuation metrics: Trailing PE stands at 175.21, price-to-book near 8.28, and price-to-sales about 13.77; forward PE near 169.94 with a PEG approximately 4.82. WMDST values the stock as over-valued given stretched multiples relative to absolute earnings and cash-flow generation.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-06-30 |
| REPORT DATE: | 2026-08-06 |
| NEXT REPORT DATE: | 2026-11-05 |
| CASH FLOW | Begin Period Cash Flow | $ 288.2 M |
| Operating Cash Flow | $ 29.6 M | |
| Capital Expenditures | $ -22.86 M | |
| Change In Working Capital | $ -4.16 M | |
| Dividends Paid | — | |
| Cash Flow Delta | $ 4.4 M | |
| End Period Cash Flow | $ 292.7 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 235.5 M | |
| Forward Revenue | $ 238.8 M | |
| COSTS | ||
| Cost Of Revenue | $ 99.1 M | |
| Depreciation | $ 14.1 M | |
| Depreciation and Amortization | $ 14.1 M | |
| Research and Development | — | |
| Total Operating Expenses | $ 232.3 M | |
| PROFITABILITY | ||
| Gross Profit | $ 136.5 M | |
| EBITDA | $ 17.2 M | |
| EBIT | $ 3.2 M | |
| Operating Income | $ 3.2 M | |
| Interest Income | $ 2.1 M | |
| Interest Expense | — | |
| Net Interest Income | $ 2.1 M | |
| Income Before Tax | $ 5.3 M | |
| Tax Provision | $ 607.0 K | |
| Tax Rate | 11.56 % | |
| Net Income | $ 4.6 M | |
| Net Income From Continuing Operations | $ 4.6 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.11 | |
| EPS Actual | $ 0.15 | |
| EPS Difference | $ 0.04 | |
| EPS Surprise | 36.364 % | |
| Forward EPS | $ 0.15 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 772.3 M | |
| Intangible Assets | — | |
| Net Tangible Assets | $ 392.0 M | |
| Total Current Assets | $ 370.8 M | |
| Cash and Short-Term Investments | $ 292.7 M | |
| Cash | $ 292.7 M | |
| Net Receivables | $ 2.1 M | |
| Inventory | $ 42.1 M | |
| Long-Term Investments | $ 13.4 M | |
| LIABILITIES | ||
| Accounts Payable | $ 41.3 M | |
| Short-Term Debt | — | |
| Total Current Liabilities | $ 163.5 M | |
| Net Debt | — | |
| Total Debt | $ 251.0 M | |
| Total Liabilities | $ 380.3 M | |
| EQUITY | ||
| Total Equity | $ 392.0 M | |
| Retained Earnings | $ -677.76 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 3.18 | |
| Shares Outstanding | 123.426 M | |
| Revenue Per-Share | $ 1.91 | |
| VALUATION | Market Capitalization | $ 3.2 B |
| Enterprise Value | $ 3.2 B | |
| Enterprise Multiple | 185.769 | |
| Enterprise Multiple QoQ | 2.693 % | |
| Enterprise Multiple YoY | -47.949 % | |
| Enterprise Multiple IPRWA | WRBY: 185.769 high: 104.045 mean: 52.004 median: 48.337 low: -78.249 |
|
| EV/R | 13.596 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 1.97 | |
| Asset To Liability | 2.031 | |
| Debt To Capital | 0.39 | |
| Debt To Assets | 0.325 | |
| Debt To Assets QoQ | 0.707 % | |
| Debt To Assets YoY | -0.123 % | |
| Debt To Assets IPRWA | high: 1.056 median: 0.538 mean: 0.488 WRBY: 0.325 low: 0.157 |
|
| Debt To Equity | 0.64 | |
| Debt To Equity QoQ | 1.257 % | |
| Debt To Equity YoY | 1.336 % | |
| Debt To Equity IPRWA | high: 4.555 mean: 1.517 median: 1.338 WRBY: 0.64 low: -2.006 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 8.275 | |
| Price To Book QoQ | 9.397 % | |
| Price To Book YoY | 3.168 % | |
| Price To Book IPRWA | high: 9.078 WRBY: 8.275 mean: 3.709 median: 2.837 low: -3.375 |
|
| Price To Earnings (P/E) | 175.209 | |
| Price To Earnings QoQ | -16.804 % | |
| Price To Earnings YoY | -36.479 % | |
| Price To Earnings IPRWA | WRBY: 175.209 high: 141.649 median: 77.251 mean: 75.806 low: -72.826 |
|
| PE/G Ratio | 4.818 | |
| Price To Sales (P/S) | 13.773 | |
| Price To Sales QoQ | 17.467 % | |
| Price To Sales YoY | 1.89 % | |
| Price To Sales IPRWA | high: 14.854 WRBY: 13.773 mean: 7.96 median: 7.406 low: 0.174 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 169.943 | |
| Forward PE/G | 4.673 | |
| Forward P/S | 13.976 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | -31.453 | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.312 | |
| Asset Turnover Ratio QoQ | -6.17 % | |
| Asset Turnover Ratio YoY | 0.778 % | |
| Asset Turnover Ratio IPRWA | high: 0.629 mean: 0.319 WRBY: 0.312 median: 0.285 low: 0.078 |
|
| Receivables Turnover | 122.63 | |
| Receivables Turnover Ratio QoQ | 27.614 % | |
| Receivables Turnover Ratio YoY | -25.327 % | |
| Receivables Turnover Ratio IPRWA | WRBY: 122.63 high: 62.704 mean: 13.523 median: 11.006 low: 0.276 |
|
| Inventory Turnover | 2.237 | |
| Inventory Turnover Ratio QoQ | -8.67 % | |
| Inventory Turnover Ratio YoY | 1.88 % | |
| Inventory Turnover Ratio IPRWA | WRBY: 2.237 high: 2.152 mean: 0.73 median: 0.674 low: 0.308 |
|
| Days Sales Outstanding (DSO) | 0.744 | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | 4.871 | |
| Cash Conversion Cycle Days QoQ | -54.868 % | |
| Cash Conversion Cycle Days YoY | -74.205 % | |
| Cash Conversion Cycle Days IPRWA | high: 216.016 median: 25.005 mean: 18.968 WRBY: 4.871 low: -69.767 |
|
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | 1.136 | |
| CapEx To Revenue | -0.097 | |
| CapEx To Depreciation | -1.625 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 392.0 M | |
| Net Invested Capital | $ 392.0 M | |
| Invested Capital | $ 392.0 M | |
| Net Tangible Assets | $ 392.0 M | |
| Net Working Capital | $ 207.4 M | |
| LIQUIDITY | ||
| Cash Ratio | 1.79 | |
| Current Ratio | 2.268 | |
| Current Ratio QoQ | -2.792 % | |
| Current Ratio YoY | -11.168 % | |
| Current Ratio IPRWA | high: 2.705 WRBY: 2.268 mean: 1.165 median: 1.02 low: 0.49 |
|
| Quick Ratio | 2.011 | |
| Quick Ratio QoQ | -0.967 % | |
| Quick Ratio YoY | -10.003 % | |
| Quick Ratio IPRWA | WRBY: 2.011 high: 1.391 mean: 0.337 median: 0.237 low: 0.068 |
|
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | 14.56 | |
| Cost Of Debt | 0.68 % | |
| Interest Coverage Ratio | 1.685 | |
| Interest Coverage Ratio QoQ | 89.983 % | |
| Interest Coverage Ratio YoY | -169.989 % | |
| Interest Coverage Ratio IPRWA | high: 93.279 mean: 14.087 median: 11.957 WRBY: 1.685 low: -58.921 |
|
| Operating Cash Flow Ratio | 0.164 | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | 32.141 | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | — | |
| Dividend Payout Ratio | — | |
| Dividend Rate | — | |
| Dividend Yield | — | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | 4.876 % | |
| Revenue Growth | -2.861 % | |
| Revenue Growth QoQ | -119.897 % | |
| Revenue Growth YoY | -31.209 % | |
| Revenue Growth IPRWA | high: 41.226 % median: 7.268 % mean: -1.237 % WRBY: -2.861 % low: -54.332 % |
|
| Earnings Growth | 36.364 % | |
| Earnings Growth QoQ | -111.364 % | |
| Earnings Growth YoY | -184.85 % | |
| Earnings Growth IPRWA | high: 122.581 % WRBY: 36.364 % median: 18.689 % mean: 2.911 % low: -400.0 % |
|
| MARGINS | ||
| Gross Margin | 57.941 % | |
| Gross Margin QoQ | 7.201 % | |
| Gross Margin YoY | 9.382 % | |
| Gross Margin IPRWA | high: 96.274 % WRBY: 57.941 % median: 42.598 % mean: 40.762 % low: 10.662 % |
|
| EBIT Margin | 1.345 % | |
| EBIT Margin QoQ | 95.494 % | |
| EBIT Margin YoY | -163.744 % | |
| EBIT Margin IPRWA | high: 20.591 % median: 15.628 % mean: 13.463 % WRBY: 1.345 % low: -19.594 % |
|
| Return On Sales (ROS) | 1.345 % | |
| Return On Sales QoQ | 95.494 % | |
| Return On Sales YoY | -163.744 % | |
| Return On Sales IPRWA | high: 20.591 % median: 15.253 % mean: 13.396 % WRBY: 1.345 % low: -19.598 % |
|
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 6.8 M | |
| Free Cash Flow Yield | 0.208 % | |
| Free Cash Flow Yield QoQ | -29.492 % | |
| Free Cash Flow Yield YoY | -74.788 % | |
| Free Cash Flow Yield IPRWA | high: 20.691 % median: 0.869 % mean: 0.646 % WRBY: 0.208 % low: -12.625 % |
|
| Free Cash Growth | -19.324 % | |
| Free Cash Growth QoQ | -757.726 % | |
| Free Cash Growth YoY | -123.834 % | |
| Free Cash Growth IPRWA | high: 135.714 % WRBY: -19.324 % mean: -72.206 % median: -76.577 % low: -406.119 % |
|
| Free Cash To Net Income | 1.455 | |
| Cash Flow Margin | 11.381 % | |
| Cash Flow To Earnings | 5.772 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.04 | |
| Return On Assets (ROA) | 0.616 % | |
| Return On Assets QoQ | 41.284 % | |
| Return On Assets YoY | -343.478 % | |
| Return On Assets IPRWA | high: 5.232 % median: 3.102 % mean: 3.012 % WRBY: 0.616 % low: -7.602 % |
|
| Return On Capital Employed (ROCE) | 0.52 % | |
| Return On Equity (ROE) | 0.012 | |
| Return On Equity QoQ | 40.237 % | |
| Return On Equity YoY | -344.33 % | |
| Return On Equity IPRWA | high: 0.267 median: 0.057 mean: 0.013 WRBY: 0.012 low: -0.276 |
|
| DuPont ROE | 1.21 % | |
| Return On Invested Capital (ROIC) | 0.715 % | |
| Return On Invested Capital QoQ | 103.125 % | |
| Return On Invested Capital YoY | -182.851 % | |
| Return On Invested Capital IPRWA | high: 14.851 % median: 11.692 % mean: 8.835 % WRBY: 0.715 % low: -8.65 % |
|