Warby Parker Hit Hard By Listing Costs, Posts Third-quarter Losses - NewsBreak

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By Shannon in Business
Updated 2 years ago

Warby Parker Inc.'s net losses more than doubled in the third quarter on costs tied to its September listing on the New York Stock Exchange. The eyewear disruptor's net losses totaled $91 million in the quarter and included $42.4 million in stock-based compensation expense, $23.9 million in direct-listing expenses and a $7.8 million donation to the company's foundation. A year earlier, losses tallied $41.4 million, while the company eked out a $1.4 million profit in the third quarter of 2019.

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