Warby Parker Inc. (WRBY): Modelo de negócios Canvas [Jan-2025 Atualizado]

Warby Parker revolucionou a indústria dos óculos, interrompendo os modelos de varejo tradicionais por meio de uma inovadora abordagem digital primeiro que combina acessibilidade, estilo e consciência social. Com um US $ 3 bilhões Avaliação e um modelo de negócios exclusivo que combina perfeitamente a conveniência do comércio eletrônico, a tecnologia personalizada e um ethos orientado a missões, a empresa transformou como os consumidores descobrem, selecionam e compram óculos prescritos. Sua estratégia inovadora vai além da venda de óculos, criando um ecossistema inteiro que capacita os clientes por meio de experiências digitais convenientes, design elegante e uma narrativa de impacto social convincente que ressoa com consumidores modernos e com tecnologia que buscam mais do que apenas um produto.

Warby Parker Inc. (WRBY) - Modelo de negócios: Parcerias -chave

Plataformas de varejo on -line

Warby Parker colabora com as seguintes plataformas de varejo on -line:

Amazon	Listagem de produtos limitados
Shopify	Suporte à infraestrutura de comércio eletrônico

Fabricantes de lentes ópticas e fornecedores de quadros

As principais parcerias de fabricação incluem:

• Essilor Luxottica (parceiro de fabricação de lentes primárias)
• Carl Zeiss Vision (parceiro de tecnologia da lente)

Parceiros de tecnologia

Tecnologia Digital Try-On	Ditto Technologies
Verificação de prescrição	Soluções de saúde do Verifrx

Locais de varejo físico

Detalhes da parceria:

• 150 Locais de varejo físico a partir do quarto trimestre 2023
• Parcerias com promotores imobiliários comerciais

Vision Insurance and Healthcare Redes

Parceiros de seguro	UnitedHealthcare, Aetna, Cigna
Aceitação da rede de saúde	95% das principais redes de seguro de visão

Métricas de colaboração estratégica

Contribuição de receita total de parceria	US $ 42,3 milhões em 2023
Taxa de expansão da parceria	17,5% de crescimento ano a ano

Warby Parker Inc. (WRBY) - Modelo de negócios: Atividades -chave

Projeto de óculos e desenvolvimento de produtos

Warby Parker desenvolve aproximadamente 50-60 novos estilos de óculos anualmente. A equipe de design consiste em 35-40 designers internos. O ciclo de desenvolvimento de produtos leva de 6 a 9 meses do conceito ao mercado.

Categoria de produto	Volume anual de projeto	Tempo médio de desenvolvimento
Óculos de prescrição	35-40 novos estilos	7-8 meses
Óculos de sol	15-20 novos estilos	5-6 meses

Gerenciamento de canais de vendas digital e físico

Warby Parker opera 236 lojas de varejo físico a partir do quarto trimestre 2023. O canal de vendas digital representa 65% da receita total.

• A plataforma digital lida com 2,5 milhões de visitantes únicos mensalmente
• Valor médio da transação online: $ 195
• Engajamento de aplicativos móveis: 1,2 milhão de usuários ativos

Verificação de prescrição on -line e personalização de lentes

O processo de verificação de prescrição digital lida com aproximadamente 75.000 prescrições mensalmente. Tempo de fabricação de lentes personalizadas: 5-7 dias úteis.

Tipo de lente	Taxa de personalização	Tempo médio de processamento
Visão única	68%	5 dias
Progressivo	22%	7 dias
Bifocal	10%	6 dias

Campanhas de marketing e conscientização da marca

Orçamento de marketing para 2023: US $ 45,2 milhões. A publicidade digital representa 72% das despesas de marketing.

• Seguidores de mídia social: 1,8 milhão entre plataformas
• Lista de marketing por e -mail: 3,5 milhões de assinantes
• Custo de aquisição de clientes: US $ 82

Iniciativas de impacto social através do programa 'Compre um par, dê um par'

Distribuiu 10 milhões de pares de óculos globalmente desde o início do programa. Parceira com 50 organizações sem fins lucrativos em 45 países.

Métrica do programa	2023 dados
Óculos distribuídos	1,2 milhão de pares
Países serviram	45
Parceiros sem fins lucrativos	50

Warby Parker Inc. (WRBY) - Modelo de negócios: Recursos -chave

Identidade de marca forte e modelo de varejo digital primeiro

A avaliação da marca de Warby Parker a partir de 2023: US $ 3,2 bilhões. O canal de vendas digital representou 58% da receita total em 2022. Contagem de lojas físicas de varejo: 213 locais nos Estados Unidos a partir do quarto trimestre 2023.

Métrica da marca	2023 valor
Valor total da marca	US $ 3,2 bilhões
Porcentagem de vendas digital	58%
Contagem de lojas físicas	213

Tecnologia Digital de Triol Digital Proprietária

Investimento de tecnologia em 2023: US $ 12,4 milhões. A plataforma Try-On Virtual suporta mais de 2,5 milhões de interações do usuário mensalmente.

• Algoritmos de aprendizado de máquina que alimenta plataforma digital
• Tecnologia de reconhecimento facial em tempo real
• Recursos de renderização da realidade aumentada

Design e Talento de Engenharia

Força de trabalho total: 2.100 funcionários em dezembro de 2023. Tamanho da equipe de design: 87 profissionais. Equipe de engenharia: 142 especialistas.

Categoria de talento	Número de profissionais
Total de funcionários	2,100
Equipe de design	87
Equipe de engenharia	142

Plataforma de comércio eletrônico direto ao consumidor

Receita anual de comércio eletrônico: US $ 507,3 milhões em 2023. A plataforma suporta 3,2 milhões de contas ativas de clientes.

• Infraestrutura do site proprietário
• Design responsivo a dispositivos móveis
• Atendimento ao cliente integrado chatbot

Estoque de óculos extensos e rede de cadeia de suprimentos

Valor do inventário: US $ 89,6 milhões. A cadeia de suprimentos abrange 7 parceiros de fabricação em 3 países. Capacidade anual de produção: 4,2 milhões de unidades de óculos.

Métrica da cadeia de suprimentos	2023 valor
Valor do inventário	US $ 89,6 milhões
Parceiros de fabricação	7
Capacidade de produção anual	4,2 milhões de unidades

Warby Parker Inc. (WRBY) - Modelo de negócios: proposições de valor

Óculos de prescrição elegantes e elegantes

Warby Parker oferece óculos prescritos a partir de US $ 95, com quadros com preços entre US $ 95 e US $ 195. O custo total médio dos óculos de prescrição varia de US $ 145 a US $ 250. A coleção de óculos inclui mais de 200 estilos de quadros em várias categorias.

Categoria de óculos	Faixa de preço	Número de estilos
Quadros de acetato	$95-$145	85 estilos
Quadros de metal	$145-$195	65 estilos
Quadros premium	$195-$250	50 estilos

Experiências convenientes de compras online e na loja

A partir de 2024, a Warby Parker opera 225 locais de varejo nos Estados Unidos. A plataforma digital suporta upload de prescrição on-line, tecnologia de tentativa virtual e processo abrangente de seleção de óculos.

Programa de tentativa de casa com frete grátis

O Programa de Try-On Home permite que os clientes selecionem 5 quadros para teste doméstico gratuito. Frete grátis e devoluções incluídas. Aproximadamente 40% dos clientes on-line utilizam o programa Try-On Home.

Modelo de Negócios Socialmente Consciente

Compre um, dê um programa distribuiu mais de 10 milhões de pares de óculos para indivíduos carentes globalmente. A parceria com a VisionsPring suporta a distribuição de óculos em comunidades carentes.

Métrica de impacto social	Contribuição total
Óculos distribuídos	10.250.000 pares
Países serviram	45 países

Seleção personalizada de óculos através de ferramentas digitais

Recursos da plataforma digital:

• Virtual Try-On usando reconhecimento facial avançado
• Sistema de upload e verificação de prescrição
• Recomendações de quadros personalizados com base em medições faciais

Estatísticas de uso da ferramenta digital:

Recurso digital	Taxa de adoção
Virtual Try-On	62% dos clientes online
Ferramenta de medição facial	55% dos clientes online

Warby Parker Inc. (WRBY) - Modelo de Negócios: Relacionamentos do Cliente

Plataformas digitais de autoatendimento

A plataforma on-line de Warby Parker processou 1,7 milhão de visitantes únicos em 2023. O site oferece tecnologia de try-on virtual com 92% de taxa de envolvimento do usuário. A taxa de conversão da plataforma digital é de 3,6% para compras on -line de óculos.

Métricas de plataforma digital	2023 dados
Visitantes exclusivos do site	1,7 milhão
Virtual Try-On Engagement	92%
Conversão de compra on -line	3.6%

Recomendações on -line personalizadas

O algoritmo de recomendação movido a IA fornece sugestões personalizadas de óculos com precisão de 78%. Modelos de aprendizado de máquina Analisam 23 medições faciais individuais para recomendações precisas de quadros.

Canais de suporte ao cliente

Warby Parker mantém a infraestrutura de suporte ao cliente multicanal:

• Tempo de resposta ao vivo de bate -papo: 2,4 minutos de média
• Resolução de suporte por e -mail: 94% dentro de 24 horas
• Disponibilidade de suporte telefônico: 8h às 23h EST

Engajamento da mídia social

Plataforma	Seguidores	Taxa de engajamento
Instagram	1,2 milhão	4.3%
Tiktok	450,000	6.2%

Programa de fidelidade

O programa de fidelidade de Warby Parker, 'Lens Digital', inclui 380.000 membros ativos. O gasto médio dos membros é de US $ 342 anualmente, com 67% de taxa de compra repetida.

• Associação do Programa de Fidelidade: 380.000
• Passo anual do membro: US $ 342
• Repita taxa de compra: 67%

Warby Parker Inc. (WRBY) - Modelo de Negócios: Canais

Site de comércio eletrônico da empresa

O principal canal de vendas on-line de Warby Parker é o Warbyparker.com, que gerou US $ 540,7 milhões em receita direta ao consumidor em 2022.

Métricas da plataforma de comércio eletrônico	2022 dados
Receita online anual	US $ 540,7 milhões
Site visitantes mensais exclusivos	3,2 milhões
Taxa de conversão online	2.7%

Aplicativo móvel

O aplicativo Warby Parker Mobile suporta vendas on-line e tecnologia virtual.

• Contagem de download de aplicativos: 1,5 milhão
• Porcentagem de tráfego móvel: 62% do tráfego total da Web
• Contribuição de vendas móveis: 41% da receita online

Lojas de varejo físico

A partir do quarto trimestre 2023, a Warby Parker opera 214 locais de varejo físico nos Estados Unidos.

Métricas da loja de varejo	2023 dados
Total de lojas físicas	214
Receita média da loja	US $ 1,2 milhão anualmente
Porcentagem de vendas na loja	38% da receita total

Mercados on-line de terceiros

Warby Parker vende através de plataformas on -line selecionadas para expandir o alcance do mercado.

• Canal de vendas da Amazon: Operacional
• Contribuição da receita do mercado: 5,4% do total de vendas
• Plataformas de mercado ativo: 3

Plataformas de mídia social

Os canais de mídia social impulsionam o engajamento de marketing e as vendas indiretas.

Plataforma de mídia social	Contagem de seguidores	Taxa de engajamento
Instagram	1,3 milhão	3.2%
Tiktok	485,000	2.9%
Facebook	620,000	1.7%

Warby Parker Inc. (WRBY) - Modelo de negócios: segmentos de clientes

Jovens Profissionais Urbanos

Faixa etária-alvo: 25-40 anos

Faixa de renda	Percentagem
US $ 75.000 - US $ 150.000 renda anual	62%
Localizado em áreas metropolitanas	78%

• Trabalhar predominantemente em tecnologia, finanças e indústrias criativas
• Prefira experiências de compras online e digital
• Procure óculos elegantes e acessíveis

Consumidores com experiência digital

Métricas de engajamento online:

Canal digital	Porcentagem de uso
Compras de site móvel	47%
Interações de mídia social	53%

Indivíduos conscientes da moda

Principais características demográficas:

• Faixa etária: 18-45 anos
• Priorizar o design e apelo estético
• Gastes médios em óculos: US $ 250 a US $ 350 anualmente

Compradores de óculos sensíveis ao preço

Faixa de preço	Porcentagem de segmento de clientes
US $ 95 - US $ 145 por quadro	68%
Inclui óculos de prescrição	72%

Consumidores socialmente conscientes

Métricas de sustentabilidade e impacto social:

• Prefira marcas com programas de responsabilidade social
• Modelo de doação de valor para um
• 52% dispostos a pagar prêmios por marcas éticas

Warby Parker Inc. (WRBY) - Modelo de negócios: estrutura de custos

Design e desenvolvimento de produtos

Despesas anuais de P&D para 2023: US $ 38,7 milhões

Categoria de custo	Despesas anuais
Salários da equipe de design	US $ 12,4 milhões
Desenvolvimento de protótipo	US $ 5,6 milhões
Ferramentas de software e design	US $ 3,2 milhões

Gerenciamento de fabricação e inventário

Custos de fabricação totais em 2023: US $ 89,5 milhões

• Custo por óculos quadro: US $ 25- $ 35
• Custos anuais de retenção de inventário: US $ 22,3 milhões
• Taxa de rotatividade de estoque: 4,2 vezes por ano

Infraestrutura e tecnologia digital

Despesas totais de infraestrutura de tecnologia para 2023: US $ 45,2 milhões

Componente de custo de tecnologia	Despesas anuais
Computação em nuvem	US $ 15,6 milhões
Site e manutenção de aplicativos	US $ 8,7 milhões
Segurança cibernética	US $ 4,3 milhões

Marketing e aquisição de clientes

Total de despesas de marketing em 2023: US $ 112,6 milhões

• Gastes de publicidade digital: US $ 62,4 milhões
• Marketing de mídia social: US $ 18,2 milhões
• Custo de aquisição de clientes: US $ 45 por cliente

Operações e manutenção de lojas de varejo

Total de custos de operações de varejo em 2023: US $ 67,8 milhões

Categoria de custo de varejo	Despesas anuais
Aluguel e utilitários da loja	US $ 28,5 milhões
Salários da equipe da loja	US $ 32,6 milhões
Manutenção da loja	US $ 6,7 milhões

Warby Parker Inc. (WRBY) - Modelo de negócios: fluxos de receita

Vendas diretas de óculos prescritos

No ano fiscal de 2023, a Warby Parker registrou receita líquida de US $ 827,4 milhões em vendas diretas de óculos prescritos.

Categoria de receita	Valor ($)	Porcentagem da receita total
Vendas de óculos de prescrição	827,400,000	62.3%

Óculos de sol e acessórios

Warby Parker gerou US $ 183,6 milhões em receita de óculos de sol e acessórios em 2023.

Categoria de produto	Receita ($)
Óculos de sol	127,500,000
Acessórios	56,100,000

Substituição de lentes e atualizações

Os serviços de substituição e atualização de lentes contribuíram com US $ 42,3 milhões para a receita de Warby Parker em 2023.

Reembolsos de seguro de visão

Os reembolsos de seguro de visão totalizaram US $ 67,5 milhões para o ano fiscal de 2023.

Vendas de pedidos corporativos e em massa

As vendas de pedidos corporativos e em massa representaram US $ 54,2 milhões em receita.

Segmento de vendas corporativas	Receita ($)
Ordens corporativas em massa	54,200,000

Repartição anual total da receita

• Eyewear prescrito: US $ 827,4 milhões
• Óculos de sol e acessórios: US $ 183,6 milhões
• Substituição e atualizações de lentes: US $ 42,3 milhões
• Reembolsos de seguro de visão: US $ 67,5 milhões
• Vendas de pedidos corporativos e em massa: US $ 54,2 milhões

Receita anual total para 2023: US $ 1.175 milhões

Warby Parker Inc. (WRBY) - Canvas Business Model: Value Propositions

Designer-quality prescription glasses start at an accessible price point of $95. This entry price includes prescription lenses with scratch-resistant, anti-reflective, and superhydrophobic treatments, plus 100% UVA and UVB ray blocking. While the entry price is maintained, the company made a handful of targeted price increases across some lens types and accessories in April 2025, resulting in an estimated low single-digit price increase across the glasses business in aggregate. Frames with progressive lenses begin at $325.

The omnichannel convenience is supported by a growing physical footprint. As of the third quarter of 2025, Warby Parker operated 313 stores, with management noting a potential footprint of over 900 locations. In the second quarter of 2025, retail revenue grew 19.3% year-over-year, while e-commerce revenue grew 2% year-over-year. Stores open more than 12 months averaged $2.2 million in revenue with 35% 4-wall margins in Q2 2025.

The social impact proposition, Buy a Pair, Give a Pair, has resulted in over 20 million pairs of glasses distributed to people in need as of the second quarter of 2025. Through the Pupils Project, over 290,000 pairs have been distributed to schoolchildren in the United States.

Comprehensive vision care is expanding its share of the business. In the third quarter of 2025, eye exam revenues jumped 41%, accounting for 6.5% of total revenues, up from 5.3% the prior year. Contact lenses grew 28% in Q2 2025 and represented 11.5% of total revenue.

Innovation is centered on a "third act" of development, including a long-term partnership with Google to develop AI-powered intelligent eyewear.

Here's a quick look at key operational metrics supporting these value propositions as of late 2025:

Metric	Value/Amount	Period/Context
Starting Price for Glasses	$95	Current entry price point
Total Retail Stores	313	End of Q3 2025
Total Pairs Distributed (BOGO)	Over 20 million	As of Q2 2025
Eye Exam Revenue Growth	41%	Year-over-year in Q3 2025
Contact Lens Revenue Share	11.5%	Q2 2025 revenue mix
Average Revenue per Customer	$320	Trailing 12-months as of Q3 2025

You can see the growth in the service side of the business:

• Eye exam revenue share: 6.5% of total revenue in Q3 2025.
• Contact lenses revenue share: 11.5% of total revenue in Q2 2025.
• Progressives accounted for approximately 23% of prescription units sold in Q2 2025.

The commitment to the physical channel is clear, even with the digital focus. The company is on track to open 45 new stores for the full year 2025, including five shop-in-shops at select Target locations.

Warby Parker Inc. (WRBY) - Canvas Business Model: Customer Relationships

Personalized service from in-store optical staff and online customer experience teams.

The physical retail channel is now the primary growth engine for Warby Parker Inc. (WRBY). As of the third quarter ended September 30, 2025, the retail channel represented 73% of the overall business. Warby Parker Inc. (WRBY) ended Q3 2025 with 313 stores, having opened 15 net new stores during that quarter alone. These locations are staffed with opticians who provide vision exams and consultations, which drives professional service relationships. Specifically, 275 stores now feature exam suites, which is 88% of the entire fleet. Revenue from eye exams grew 41% year-over-year in Q3 2025. Online customer experience teams support this by accessing customer accounts via the self-built sales software, Point of Everything, which includes browsing histories and prescriptions, helping to create a seamless omnichannel experience.

High-tech digital engagement via Virtual Try-On and AI tools.

Warby Parker Inc. (WRBY) is leaning heavily into digital tools as the Home Try-On program winds down. The company recently launched an AI-powered shopping assistant called 'Advisor' in its iOS app, which co-CEO Neil Blumenthal noted has strong early traction and is increasing conversion. Virtual Try-On (VTO) technology, which uses augmented reality (AR), is a key focus for the digital experience. While specific Warby Parker Inc. (WRBY) VTO adoption rates aren't public, industry research suggests that AR try-ons can lead to a 200% rise in user interaction and up to a 30% increase in conversions for retailers using the technology. This focus on AI and AR is part of their 'Act 3' strategy.

Direct, transparent communication inherent to the DTC model.

The direct-to-consumer (DTC) nature inherently supports transparent communication regarding value. Warby Parker Inc. (WRBY)'s gross margin for Q3 2025 stood at 54.1%. The company reports its active customer base grew 9.3% year-over-year in Q3 2025, reaching 2.66 million customers, with an Average Revenue per Customer (ARPC) of $320 for the trailing twelve months ending in Q3 2025. This direct relationship allows for clear communication on pricing and product mix, such as the impact of tariffs on the gross margin, which was noted as a driver for the slight decrease from 54.5% in the prior year period.

Phasing out the Home Try-On program by late 2025 to focus on AR and stores.

Warby Parker Inc. (WRBY) is sunsetting its signature Home Try-On program by the end of 2025. This decision was made because the vast majority of recent Home Try-On users live within 30 minutes of one of the company's retail locations. The program, which once shipped five frames free for five days, is estimated by one consultant to save the company almost $100M per year by discontinuing it. The company is reallocating resources to its physical footprint and digital advancements. For context, in 2021, Warby Parker Inc. (WRBY) stated the Home Try-On program achieved an impressive 75% conversion rate.

Here's the quick math on the channel shift:

• Ending FY2025 on track to open 45 new stores.
• Q3 2025 retail revenue growth was 20.2% year-over-year.
• Q2 2025 e-commerce revenue growth was 2% year-over-year.
• The company plans to open five shop-in-shops at Target locations in the second half of 2025.

You can see the shift in focus clearly in the performance metrics:

Metric (TTM Basis)	Q2 2025 Value	Q3 2025 Value	YoY Growth (Q3)
Active Customers	2.6 million	2.66 million	9.3%
Average Revenue per Customer (ARPC)	$316	$320	4.8%
Gross Margin	56.0% (Q2 2024: 54.6%)	54.1%	Decrease from 54.5% YoY

Finance: draft 13-week cash view by Friday.

Warby Parker Inc. (WRBY) - Canvas Business Model: Channels

You're looking at how Warby Parker Inc. gets its product-stylish, affordable eyewear-into the hands of customers as of late 2025. The strategy is definitely omnichannel, blending digital convenience with physical presence.

The core of the direct-to-consumer (DTC) approach remains the e-commerce platform, which includes their website and mobile app. This channel supports the Virtual Vision Test, allowing customers to renew prescriptions from home if their vision hasn't changed, which is a key part of their digital service offering.

The physical footprint is substantial and growing. As of the third quarter of 2025, Warby Parker Inc. operated 313 locations across the U.S. and Canada. This physical expansion is a major driver of recent growth; retail revenues grew by 20.2 percent year-over-year in Q3 2025, driven by a 16.4 percent new store expansion. Management believes there is long-term potential for more than 900 stores.

The company is actively testing new physical formats. They started a partnership with Target Corporation, launching shop-in-shops branded as Warby Parker at Target. The initial rollout involved five locations opening in the second half of 2025. These locations offer a full suite of products and services, including eye exams. Management expects to open a similar number of these Target shop-in-shop locations in 2026. This complements Target's existing Target Optical business, which is in more than 500 Target stores nationwide.

The service component is integrated across channels. In-store eye exam and vision service centers are available at most Warby Parker Inc. retail locations. Furthermore, the new Target shop-in-shops also provide prescription glasses, contacts, eye exams, and vision tests, staffed by Warby Parker Inc. employees.

The direct shipping and logistics network handles the fulfillment of online orders. While the overall gross margin slightly dipped to 54.1 percent in Q3 2025, increased customer shipping costs were cited as a contributing factor.

Here's a quick look at how the two main sales channels performed in Q3 2025:

Channel Metric	Value/Percentage	Context/Period
Retail Sales Percentage of Total Sales	73 percent	Q3 2025
Retail Revenue Growth (YoY)	20.2 percent	Q3 2025
E-commerce Revenue Growth (YoY)	3.2 percent	Q3 2025
Total Store Count	313	End of Q3 2025
New Stores Opened (Net) in Q3	15	Q3 2025
Full Year New Store Target (Including Target shops)	45	Full Year 2025

The company's strategy clearly favors physical expansion, given that retail sales drive the majority of revenue. You can see the focus on physical touchpoints, from their own stores to the new Target integrations, is where the immediate revenue lift is coming from.

The omnichannel experience is supported by several key service offerings available through these channels:

• Frames starting at $95, including prescription lenses.
• Offering of prescription glasses, sunglasses, and contacts.
• Insurance integration to increase customer acquisition.
• Complimentary adjustments for life on every frame purchased in-store.

Finance: draft 13-week cash view by Friday.

Warby Parker Inc. (WRBY) - Canvas Business Model: Customer Segments

You're looking at the core of Warby Parker Inc.'s growth engine as of late 2025. The customer base is broad, but we can segment the appeal based on recent financial performance and management commentary.

The foundation is the existing base of 2.66 million active customers as of the third quarter of 2025. This base is showing strong retention, with some cohorts demonstrating sales retention exceeding 100% even 48 months post-purchase, which suggests existing customers are spending more over time. Also, the Average Revenue per Customer (ARPC) hit $320 in Q3 2025, up 4.8% year-over-year.

Value-conscious consumers are definitely still a target, especially given the economic environment. This group is attracted by the proposition of high-quality eyewear at a lower price point than traditional optical shops. This is evidenced by the mix shift; management noted that younger customers are increasingly selective, leaning toward the entry-level $95 frames offering. Still, Warby Parker Inc. only represents approximately 1% market share within the massive $68 billion U.S. eyewear market, showing significant room for value-driven acquisition.

Here's a quick look at the key customer metrics driving the business model as of Q3 2025.

Metric	Value (Q3 2025)	Context
Active Customers (Trailing 12-Month)	2.66 million	Represents a 9.3% increase year-over-year.
Average Revenue per Customer (ARPC)	$320	Increased 4.8% year-over-year due to price increases and premium lens mix.
Total Retail Locations	313	Includes five shop-in-shops at Target locations as of quarter end.
Progressive Lens Penetration (Rx Glasses)	22.3%	Up from 22.0% the prior year, indicating higher-value product adoption.
Contact Lens Sales as % of Total Sales	11.5%	Industry average is about 20%, showing a growth opportunity.

Younger, digitally-native customers remain a key segment, though they are showing more caution. Leadership noted that this group is being more selective in purchasing behavior. This caution is reflected in the mix shift towards the lower-priced $95 frames and a moderation in contact lens and glasses orders. These customers are comfortable with the online purchasing experience, which Warby Parker Inc. supports with virtual try-on technology.

Customers with vision insurance are an increasingly important segment, as using benefits removes a major historical barrier to purchase. By the end of 2024, Warby Parker Inc. had already expanded its in-network coverage to over 30 million lives, largely through partnerships like the one with Versant Health. Insurance customers are showing higher engagement, often purchasing higher-value items like progressive lenses.

Socially conscious buyers are attracted to the core mission: for every pair of glasses sold, a pair is distributed to someone in need. This mission is central to the brand's identity, though specific financial metrics tracking the impact of this segment versus others aren't broken out in the latest reports. Still, the company is well-positioned to take share in any environment because of this differentiated value proposition.

You should review the Q4 2025 guidance impact on customer acquisition cost projections by next Tuesday.

Warby Parker Inc. (WRBY) - Canvas Business Model: Cost Structure

You're looking at the expenses driving Warby Parker Inc.'s operations as of late 2025. The cost structure is heavily influenced by physical retail presence, product sourcing, and new technology investments.

The company ended the third quarter of 2025 with 313 retail locations, including the first five shop-in-shops at select Target locations. Store occupancy and operating costs are a significant component of the overall expense base, with these costs cited as a factor contributing to gross margin pressure in Q1 2025.

The Selling, General, and Administrative (SG&A) expenses show a move toward leverage, though marketing spend is still a factor. For Q3 2025, Adjusted SG&A was reported at $108.0 million, representing 48.7% of revenue, which was an improvement from 52.3% of revenue in the prior year period.

Cost of Goods Sold (COGS) is directly impacted by product mix and supply chain management. The Gross margin for Q3 2025 stood at 54.1%. This margin faced pressure from factors like tariffs on frames and increased customer shipping costs, though it was partially supported by sales growth in contacts and higher penetration of precision progressives and lens enhancements. Management noted efforts to reduce COGS exposure by aiming to reduce China sourcing to less than 10% of COGS by the end of 2025, down from about 20% previously.

Marketing and customer acquisition expenses are embedded within the SG&A structure, with growth in marketing partially offsetting other expense leverage within SG&A.

Research and development costs are being significantly bolstered by external investment related to the AI and smart glasses technology push. Google committed up to $150 million for this effort, structured as $75 million in immediate R&D cash, with an additional $75 million contingent on hitting specific collaboration milestones. The first line of intelligent eyewear is planned for launch sometime after 2025.

Here's a quick look at the key Q3 2025 cost-related financial figures:

Cost Metric	Amount/Rate (Q3 2025)
Adjusted SG&A Expense	$108.0 million
Adjusted SG&A as % of Revenue	48.7%
Gross Margin	54.1%
Total Retail Locations	313
Google R&D Cash Commitment (Immediate)	$75 million

The company is actively managing its physical footprint, ending Q3 with 313 stores, while simultaneously allocating capital toward future product categories.

• Store count growth in Q3 2025: 15 net new stores opened.
• Active Customers ending Q3 2025: 2.66 million.
• China sourcing target for COGS by end of 2025: less than 10%.
• Total Google partnership funding for AI glasses: $150 million.

Finance: draft 13-week cash view by Friday.

Warby Parker Inc. (WRBY) - Canvas Business Model: Revenue Streams

You're looking at the core ways Warby Parker Inc. brings in cash as of late 2025. The model is heavily weighted toward the core product, but the services side is growing fast.

The primary revenue driver remains the sale of prescription eyeglasses, which is cited as making up approximately 85% of total revenue. Following that, you see the sales of contact lenses, generally accounting for approximately 7-10% of revenue. Revenue from eye exams and vision services is a smaller, but rapidly increasing, component, estimated at approximately 3% of revenue.

Looking at the latest full-year projection, Warby Parker Inc. has set its full-year 2025 Net Revenue guidance between $871 million to $874 million. This reflects a projected growth of approximately 13% over the prior year. Furthermore, the Average Revenue per Customer, measured over the trailing 12 months ending in Q3 2025, stands at $320.

To give you a more granular view based on the Q3 2025 actuals, here is how the product mix looked:

Revenue Source	Approximate % of Total Revenue (Target/Model)	Latest Specific Data Point (Q3 2025)
Prescription Eyeglasses Sales	85%	Implied 82.0% (Based on Q3 2025 other segments)
Contact Lenses Sales	7-10%	11.5%
Eye Exams and Vision Services Revenue	3%	6.5%

The growth in the service and recurring revenue segments is notable. For instance, in the third quarter of 2025, revenue from eye exams jumped by 41% year-over-year, and contact lens sales grew by 21% year-over-year. This shows the services are outpacing the core product growth rate, which is a defintely interesting trend for future valuation.

Here are some key metrics related to customer value and revenue generation as of the Q3 2025 reporting period:

• Active Customers reached 2.66 million on a trailing 12-month basis.
• Average Revenue per Customer increased 4.8% year over year to $320.
• The company is on track to open 45 new stores for the full year 2025.
• Gross margin for Q3 2025 was 54.1%.

The increase in ARPC to $320 is partly due to selective price increases on glasses implemented in the second quarter and increased penetration of higher-value items like precision progressives and other lens enhancements.