Warby Parker (WRBY) Cash Flow: Operating & Free Cash Flow

Warby Parker Cash Flow Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Cash flow statement showing operating, investing, and financing activities for Warby Parker Inc. (WRBY) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Operating Activities
Net Income	1.64	-20.39	-63.20	-110.39	-144.27	-55.92	-57.54
Depreciation & Amortization	50.28	45.87	38.55	31.86	21.55	18.38	14.52
Deferred Income Tax	0.00	0.00	0.00	0.00	0.00	-85.27	0.00
Stock Based Compensation	34.54	47.29	70.51	98.03	107.15	44.91	8.50
Change in Working Capital	17.55	19.26	5.81	-14.55	-24.50	25.39	-1.62
Change in Accounts Receivable	-1.34	-0.17	-0.35	-0.45	-0.39	0.52	-0.64
Change in Inventory	7.83	9.89	6.61	-11.79	-18.62	-10.02	-12.61
Change in Accounts Payable	8.50	0.69	1.63	-7.94	-11.11	5.90	5.53
Change in Other Working Capital	2.55	-1.41	0.82	5.64	0.63	28.99	6.11
Other Operating Activities	6.78	6.72	9.32	5.42	8.07	85.27	57.54
Net Cash from Operating Activities	110.79	98.74	60.99	10.37	-31.99	32.76	21.39
Investing Activities
Capital Expenditures	-67.05	-64.03	-53.67	-60.18	-48.51	-20.07	-32.63
Acquisitions	0.00	-2.00	-1.00	0.00	0.00	0.00	0.00
Purchases of Investments	0.00	-2.00	-1.00	0.00	0.00	0.00	0.00
Other Investing Activities	0.00	-2.00	-1.00	0.00	0.00	0.00	0.00
Net Cash from Investing Activities	-67.05	-66.03	-54.67	-60.18	-48.51	-20.07	-32.63
Financing Activities
Debt Repayment	0.00	0.00	0.00	0.09	31.61	0.95	0.00
Common Stock Issued	2.36	4.63	2.87	3.20	20.04	244.99	0.00
Common Stock Repurchased	0.00	0.00	0.00	0.00	-10.62	0.00	-79.47
Other Financing Activities	-14.36	0.33	0.00	0.00	-18.03	0.00	-3.89
Net Cash from Financing Activities	-12.00	4.96	2.87	3.29	23.00	245.94	-83.36
Summary
Effect of Forex Changes on Cash	0.46	-0.40	-0.88	-1.31	-0.16	0.04	0.24
Net Change in Cash	32.20	37.27	8.31	-47.83	-57.67	258.66	-94.36
Cash at Beginning of Period	254.16	216.89	208.59	256.42	314.09	55.42	149.79
Cash at End of Period	286.36	254.16	216.89	208.59	256.42	314.09	55.42
Free Cash Flow	43.74	34.71	7.32	-49.81	-80.51	12.69	-11.24
Supplemental Disclosures
Interest Paid	-	0.25	0.23	0.18	0.15	0.47	-
Income Taxes Paid	-	1.04	0.42	0.54	0.36	0.23	-

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Warby Parker Cash Flow

What is Warby Parker's free cash flow?

Warby Parker generated free cash flow of $43.74M in fiscal 2025 (fiscal year ended Dec 31, 2025), operating cash flow of $110.78M minus $67.05M of capital expenditures. That was up 26.0% from $34.71M a year earlier. Free cash flow equaled 5.0% of revenue.

How much does Warby Parker spend on capital expenditures?

Warby Parker spent $67.05M on capital expenditures in fiscal 2025, compared with $64.03M a year earlier. That equals 60.5% of operating cash flow.

Does Warby Parker pay dividends or buy back shares?

Warby Parker's cash flow statement for fiscal 2025 shows no dividend payments or share repurchases.

What is free cash flow?

Free cash flow is operating cash flow minus capital expenditures. It is the cash a company has left for dividends, buybacks, debt repayment or acquisitions after funding its operations and investment. Full definition