Record Revenue Growth
Kits Eyecare reported record revenue of $46.6 million, up 34% year-over-year, surpassing their guidance range of $46 million to $48 million.
Significant Gross Profit and Margin Expansion
Gross profit grew over 53% year-over-year to $17.1 million, with gross margin expanding 460 basis points to 36.7%.
Strong Customer Growth
Kits welcomed over 95,000 new customers, a 28% increase year-over-year, with 62% of total revenue coming from returning customers.
Positive Adjusted EBITDA
The company achieved its 10th consecutive quarter of positive adjusted EBITDA, reaching $3.5 million or 7.4% of revenue, exceeding their guidance.
Expansion in Key Segments
All segments grew significantly, with glasses revenues growing 46% and contact lens revenues growing 32%.
Successful Autoship and Loyalty Programs
The Autoship program contributed nearly $6 million in revenue, up 11% year-over-year, and the KITS+ loyalty program showed strong early traction.