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Warby Parker Announces Third Quarter Fiscal Year 2021 Results Revenue increased 32.0 % to $ 137.4 million Raises Fiscal 2021 Outlook Active customers increased to 2.15 million NEW YORK , November 12 , 2021. Warby Parker Inc. ( NYSE : WRBY ) ( the " Company " ) , a direct - to consumer lifestyle brand focused on vision for all , today announced financial results for the quarter ended September 30 , 2021 . " Every day , we strive to design high - quality products , deliver remarkable customer experiences , and develop innovative technologies that help the world see . Our strong third quarter results reflect our commitment to achieving these goals while delivering ambitious , long - term sustainable growth " said Co - Founder and Co - CEO Dave Gilboa . " We're incredibly proud of the milestones we achieved in Q3 , from opening our second optical lab to going public via a direct listing - and being the first public benefit corporation to do so , " added Co - Founder and Co - CEO Neil Blumenthal . " As we look ahead , we remain laser focused on executing against our growth strategies by increasing our active customer base , expanding our retail footprint , and delivering innovative products and services that further our mission to inspire and impact the world with vision , purpose and style . " Third Quarter 2021 Financial Results For the third quarter of 2021 , compared to the third quarter of 2020 : Net revenue increased $ 33.3 million , or 32.0 % , to $ 137.4 million . Active Customers increased by 395,000 , or 23 % , to 2.15 million . Gross profit dollars increased 24.5 % to $ 79.7 million . Gross margin was 58.0 % compared to 61.5 % in the prior year , primarily driven by increased penetration of contact lenses versus the prior year , reflecting Warby Parker's strategy to grow its contact lens offering . Gross margin also includes approximately 70 basis points of stock - based compensation expense related to the Company's direct listing in 2021. In addition , gross margin for third quarter 2020 includes approximately 90 basis points of improvement related to a tariff rebate received . Selling , general and administrative expenses ( " SG & A ” ) increased $ 66.3 million to $ 171.6 million , primarily driven by $ 65.0 million in stock - based compensation expense , $ 23.9 million in direct listing expenses , and $ 7.8 million in expense from a stock donation to the Warby Parker Impact Foundation . Excluding these items , as well as $ 42.4 million of stock based compensation expense incurred in the third quarter of 2020 , SG & A increased $ 12.0 million , on an adjusted basis . On this basis , SG & A as a percentage of revenue improved 590 basis points , from 60.5 % to 54.6 % , primarily as a result of net revenue growth outpacing SG & A expense growth as Warby Parker maintained disciplined management of its expense profile . Net loss increased $ 49.5 million to $ 91.1 million , primarily as a result of the increase in SG & A described above . 1