Neil Blumenthal, Co-Chief Executive Officer of Warby Parker Inc. (NYSE:WRBY), has recently sold 36,163 shares of the company's Class A Common Stock. The shares were sold at an average price of $22.61, totaling approximately $817,645. The transaction comes as Warby Parker's stock has delivered an impressive 109% return over the past year, with the company now commanding a market capitalization of $2.85 billion. This transaction was part of a routine sale required under the company's equity compensation plan to cover taxes on vested restricted stock units. Following the sale, Blumenthal retains direct ownership of 12,177 shares of Class A Common Stock. Additionally, he holds indirect ownership through various trusts, totaling significant holdings in the company. According to InvestingPro analysis, WRBY currently trades above its Fair Value, with 13 additional exclusive ProTips available to subscribers, including detailed insights on profitability trends and growth prospects.
In other recent news, Warby Parker has reported robust growth in its Q3 2024 earnings, with net revenue reaching $192.4 million, a 13.3% increase year-over-year. The company has subsequently raised its full-year revenue growth guidance to 14-15% and set an adjusted EBITDA target of approximately $73 million. Key drivers of this growth include the expansion of physical stores, enhancements in its e-commerce platform, and successful integration of in-network insurance partnerships. The company also reported a 5.6% year-over-year increase in active customers, reaching 2.4 million, and a 7.5% rise in average revenue per customer. In addition, Warby Parker saw a 20% increase in retail revenue and 1% growth in e-commerce revenue, with a 40% increase in eye exam revenue. These developments reflect the company's ongoing commitment to growth and customer service enhancements. The company anticipates Q4 revenue between $184 million and $187 million and plans to continue opening at least 40 stores annually.
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