Co-CEOs, Neil Blumenthal & Dave Gilboa of Warby Parker at the NYSE, September 29, 2021.
Warby Parker reported Friday that its third-quarter revenue rose 32% from year-ago levels, but its losses widened as costs associated with its recent direct listing and stock-based compensation ate into sales.
The eyeglasses maker’s shares rose more than 7% in early trading following Warby’s first financial report as a public company. It went public on the New York Stock Exchange via a direct listing on Sept. 29.
Warby’s net loss for the three-month period ended Sept. 30 grew to $91.1 million, or $1.45 per share, compared with a loss of $41.6 million, or 78 cents a share, a year earlier.