Warby Parker Prepares for Intelligent Eyewear Launch with $14.4 Million Tariff Refund Benefit
Warby Parker is preparing to launch its first Intelligent Eyewear collection, which combines the company's frames with Google Gemini technology. The eyewear is designed to help wearers explore, remember, navigate, and connect while maintaining their view of the surrounding world.
The company received an $11.8 million tariff refund benefit during Q2, equivalent to approximately 500 basis points of gross margin. Warby Parker expects a full-year tariff refund benefit of $14.4 million, which will be used partly to offset strategic investments ahead of the Intelligent Eyewear launch.
Warby Parker's core business continues to expand, with Q2 revenue increasing 9.8% to $235.5 million. The company ended the quarter with $292.7 million of cash and equivalents and opened 15 net new stores, bringing its total to 352 locations.