and Neil just you Dave. our to how by excited call. of to I welcome Thanks start sharing earnings all am wanted first I to
public without you who’ve and all listing know, investors, members, of went also six the wanted weeks through analysts their business. both the direct on customers, have all covering side sell the of couldn’t share the we As ago, to existing and and our and roughly the taken numbers that partners stock time company know done thank our into our team I dig to perspectives support get company the to new.
the Parker top for contact trends. earlier, representing of and prescription mentioned about $XX vision Neil non accounts by at optical line prescription exams, tremendous start size billion, David lenses market, ahead. I’ll including for glasses, Council eye X% and market roughly the just growth and room Warby of As measures the this talking
year XXXX in replenishment and periods up last XX% make year. was QX XXXXm top line momentum We’re versus X% driven only a line bottom quarter consistent To in in business pleased growth by contact throughout period of very continued to we’re seen I’ll which versus our remarks report year. a as we’re the trends X.X year. growth And customer in XX% address of same top seeing XXXX. last offering, million top This including top for $XXX.X and comparisons core up revenue QX top pre progress happy revenue came lens this glasses to our and overall. impressive were cycle million factors represents number very each XXXX these line XXXX. line by measured XX% over line Or In well increased still up the to We’ve well. with and and growth business, strong customers last versus as periods XXXX in our versus as at line Active pandemic QX relevant of growth. prescription
of that purchase one underscoring in roughly meets more Customers to We’re glasses customers increases also generated the of less care holistic we report term customers. X.X so, revenue This here. per per glasses will the we customer We period vision September time. X% our than XX, And customer over growth that strategy, basis represents from vision customers. and our do one customers, LTM loyal the vision exams, ability on purchasers times of care our happy upside represent from continued continue in than of average And purchase over yet $XXX, revenue to believe from our only average XXXX. the where $XXX to care year contacts a become of same after execute are This XX% continued generate long in even glasses active company all initial our as a increase year. needs revenue as us holistic as last to end illustrates of customer. measured only holistic on the revenue average per an we evolving
channel website experiences that online journeys possible end ourselves very purchases an in that as As Neil and versa. apps. Dave strive make we much start store across complex, Customer are And stores, to customer said, and as our we omni and nuanced seamless view vice given might up and brand. as
QX versus down XX% is of period. year. and channel of elevated XXXX, For QX two up Compared last business grew representing XX%. year, moderately that XX% represented Ecommerce remains year CAGR XX, but a Ecommerce our XXX% a versus versus XX% to XX% XXXX. our still ecommerce in overall Today, XX% in XXXX, mix over in of XXXX. year from ecommerce perspective at
finished the stores with XXX We’re pleased pandemic. since year, strong XX including We And with QX, square back. stores in onset targets a We pay in performing with opened versus XX year. for seen we’ve representing the per XX performance. stores recovery store We’ve the opened stores over outlined our last same new very are and our existing wall line nine retail stores of the and far margin open the foot quarter XXX new the selling at so period. revenue new stores time this stores
stores year and on our than we open new feel is new to track stronger confident We’re that store this XX ever. pipeline
gross gears Next, I’ll to margin. shift
including and loaded eye optical of outs. and store the Our accounts of range frames, depreciation costs for gross shipping, labs, fully a margin is lenses, store rent build customer doctors,
we’ll changes As we try takes margin. continue out that margin, puts gross to gross and to the in lay talk are and about reflected
product discussed a we fluctuate seasonality As on various as in at takes strong includes an quarters XX% September, we XX%. of expect our between we’ve and to consistency and investor basis, to margins But gross puts result annual margins of gross seen our which mix. day of
for a reflect have for We at I’ll XX.X% impacting benefits reference of margin. to costs gross as XX%. mind as This in qX in comparability, that Gross margin changes XXXX number in bear our QX basis and well optical came QX to some optometrists this factors expense compares the associated operating which quarter stock with margin of sold same excluding direct in goods XXXX and points our cost XXXX XX.X%. related includes of lab XX% to in employees, XX totaled compensation XXXX. gross listing and
a lenses lens penetration addition, With that driven and the as In point saw of of contact margin, accelerate of We around quarter. during saw awareness increased from X.X% XXXX mix tariff approximately accounted as regards benefited to operational rebate various revenue. offering. qX brand to takes a percentage we gross the product contact majority the we’ve business for decrease of our puts a
X% just than As plus X% profile frequency of purchase today and versus Contact a lower contacts margin market glasses business gross Dave a full XXXX. approximately dollars, lenses higher business our have the are the represent line. margin our particularly of nature for have given this but our elevates product year like also subscription offering core billion mentioned a of $X that
the air We also in of cost saw freight. increases moderate
exposure from trends we directly as products little purchase have air most overseas. We freight we for the to use ocean of
lightweight product noting to these so also low a and make of costs. XXXX, to In product non volume, on our It’s pandemic sales pre levels pleased margin. of and minority product costs is Our our of plus up we the impact worth XX% were see small mix business. overall QX of prescription sunglasses returned
XXXX, dropped product half ultimately had elevated During of we pre in this margins, gross of sales XXXX. given this saw line margin to levels, lower pandemic moderately QX sunglasses
second our opened in quarter. this also lab Las Vegas We optical
As this in will we NPS moderate slowed optical efficiently expect reaches year. more lab West our a scale optical to time refund we Once on first expect results, have to higher gross in next gross continue we spurred, their and margin lab customers, to improved that ramps until to margin operating and turnaround online, serve XXX% latter lower the it resulting overall. lab part new similar Coast sold drag capacity, of the faster rates,
employees the experience headquarters, line expense [ph] Next, Tryon includes into includes visibility overhead SG&A more SG&A customer expenses. our spend, three for retail quarter. and provide components of The which program, our main home and general we’d to for our marketing corporate like salary
with associated recorded expenses in SG&A. direct unique of listing number a had our we First,
$XX the and of compensation During of X$.X our a expense million, transaction the start stock $XX Warby for nonprofit recognize cost foundation. of costs we purposes organizations, million donations stock million including charitable to quarter, reflecting the based Parker impact of
as our leverage the excluding points one and expressed model, with line of costs adjusted business a two six This to from in with long In connection improve margin leverage, approach we XX.X% to enabled stock very driver full time. our maintained saw driven see as across by listing, direct a us EBIT nearly SG&A expect spend of was revenue percent we factors. we the incremental time XX.X%. As term main while investments generating associated make focused continued framework, that down improvement over our we in with the SG& to expense this compensation
making dollars. to sure supporting is to second alignment thoughtful the and infrastructure, disciplined and incremental approach hiring, growth deployment that of First, have marketing a hires clear
a it As as periods. to elevation it linear of broader the Meteor deployment settle, including a some we with our around range of spend the to marketing to and to as economic marketing, TV only COVID that related flexibility competitive the committed relates uncertainty flexible model. a conservative approach we in environment model maintain during factors rates leverage highly largely we of wanted to spend see the maintained we of Due
were In over addition, in to normalized we We QX. single was pleased pandemic Tryon mix mid with home year spend pre digits saw top extremely expense year as growth performance and program ecommerce decrease the marketing levels. as between for our our stores just closer line given our
spending. of ahead to exploration QX, awareness we and as from and end season, look we brand qX redeploy year demand qX those to we during the As into holiday n flexible some dollars drive of
EBITDA in to see versus the maintaining same saw is and reflection it X.X% generated periods quarter in expansion XXXX versus leverage relates As adjusted year and really DOM X.X% of EBITDA of in quarter while to EBIT in margin a adjusted the We adjusted continuing strong in of growth, adjusted XXXX. margin margin an XXXX. the EBITDA last we This X.X% SG&A.
both and make with to described. strong in which deliberate will As continue cash, a to the investments million quarter growth We sheet balance infrastructure. in just deploy $XXX reflecting finished
to versus million of we $$XXX of to XX% in our outlook $XXX.X the to million, bring the XXX. the will Adjusted in XXXX, and open growth to of with and of remainder prior XXXX the be line which margin XX store this our to on representing XX% range stores count to guidance, year, year, for XXXX. now we X% full are XX% track for to EBITDA Turning year approximately X% growth of versus revenue expect net
look macro there unknowns a are to note number environment. related to we of As it’s important ahead, the that
for outlook continue and we be balance our such, thoughtful financial the year. prudent As to setting of the in
assumptions you Let me within guidance. our the some give on color embedded
to higher of line As weeks due customer to top December during the observe demand month usage year. the spending it we benefits part and final of moderately flexible health in of seasonal relates in the
meet recognize lowest marketing season. most QX These QX investments we seasonality investments final of the make customer we recognize experience increasing customer, several Or the as as shipping in demand, quarter increasing stage in store for week product as higher in January benefit placed we holiday support upon this the questions. the From flexible December, perspective, timing, accommodate call generate the context, full support demand QX spending volume we expedite selling year. include, to staffing and orders and from sets the staffing is to to demand, investments important our elevated continues generally a to Given orders holiday into revenue until which revenue additional as hours support higher for extended store year. for of to customer our and margin well related delivery to traffic to growth
about be here to the I what EBITDA to public provided our call our drive up while built we’re thrilled adjusted two our thank ahead am reach of sustainable net and market, points XXXX We in closing, ahead,, on our on XXXX helpful business us outlook the for incremental to improvement, focus revenues margin target EBITDA quarter profitability year welcoming March. margin we In XX% formal long with of be forward and fourth you Q&A. term each direct of with generating until plus. model open to listing, of that, we be a excited for to our a framewok to providing we call excited Lastly, more driving adjusted EBITDA margin with adjusted growth could look we
