Warby Parker Inc. (NYSE:WRBY) Q4 2023 Results Conference Call February 28, 2024 8:00 AM ET

Company Participants

Jaclyn Berkley - Head of Investor Relations

Dave Gilboa - Co-Founder, Co-CEO & Co-Chair

Neil Blumenthal - Co-Founder, President, Co-CEO & Co-Chair

Steve Miller - SVP & CFO

Conference Call Participants

Mark Altschwager - Robert W. Baird

Edward Yruma - Piper Sandler

Mark Mahaney - Evercore ISI

Dana Telsey - Telsey Advisory Group

Kathryn Hallberg - TD Cowen

Brooke Roach - Goldman Sachs

Alex Straton - Morgan Stanley

Operator

Ladies and gentlemen, welcome to the Warby Parker Fourth Quarter and Full Year 2023 Results. My name is Neil and I will be coordinating your call today. [Operator Instructions]

I will now hand over to Jaclyn Berkley, Head of the Investor Relations, to begin. Jaclyn, please go ahead.

Jaclyn Berkley

Thank you and good morning, everyone. Here with me today are Neil Blumenthal and Dave Gilboa, our Co-Founders and Co-CEOs, alongside Steve Miller, Senior Vice President and Chief Financial Officer. Before we begin, we have a couple of reminders. Our earnings release and slide presentation are available on our website at investor.warbyparker.com. During this call and in our presentation, we will be making comments of a forward-looking nature. Actual results may differ materially from those expressed or implied as a result of various risks and uncertainties. For more information about some of these risks, please review the company's SEC filings, including the section titled Risk Factors in the company's latest annual report on Form 10-K.

These forward-looking statements are based on information as of February 28, 2024 and except as required by law, we assume no obligation to publicly update or revise our forward-looking statements. Additionally, we will be discussing certain non-GAAP financial measures. These non-GAAP financial measures are in addition to and not a substitute for measures of financial performance prepared in accordance with U.S. GAAP. A reconciliation of our non-GAAP measures to the most directly comparable U.S. GAAP measures can be found in this morning's press release and our slide deck available on our IR website.

And with that, I'll pass it over to Dave to kick us off.

Dave Gilboa

Welcome, everyone, and thank you for joining us this morning. We'll spend the majority of today's call speaking to our 2024 plan and looking forward. But first, I want to take a moment to reflect on 2023. It's a year that we have a lot to be proud of and I'd like to start by recognizing our team's hard work and dedication to delivering the best eyecare products and experiences for our customers while improving our financial results and making progress against our mission to provide vision for all. Last year we delivered consistent double-digit revenue growth each quarter closing the year up 12% year-over-year while growing adjusted EBITDA more than 90% and expanding adjusted EBITDA margin nearly 330 basis points.