Warby Parker misses third quarter 2026 earnings expectations as active customer growth slows to 3%

Warby Parker reported third quarter 2026 revenue of $244.7 million and diluted EPS of $0.04, both falling short of analyst estimates. While the company achieved slight gross margin expansion and increased its average revenue per customer, it faced a continued deceleration in active customer growth despite ongoing retail expansion.

Key Highlights

• Active customer growth decelerated to 3.0% year-over-year, reaching 2.74 million on a trailing 12-month basis compared to 4.1% in the previous quarter.
• Gross margin expanded 30 basis points to 54.4%, driven by reduced tariffs and optical lab efficiencies which offset higher occupancy costs from opening 12 net new stores.
• Average revenue per customer rose 6.7% to $342, reflecting higher penetration of progressive lenses and eye care services.