KITS Eyecare Reports Preliminary First Quarter 2026 Results

• KITS Eyecare released preliminary Q1 FY2026 results (quarter ended March 31, 2026).
• Total revenue ≈ $57.4 million, up 23% YoY.
• Glasses segment revenue reached $10.8 million, a 61% YoY increase (exceeds the >$10 M guidance).
• Adjusted EBITDA now exceeds 6% of revenue (non‑IFRS), above the guided 4‑6% range.
• Cash balance remains strong at roughly $18.9 million.
• Full audited Q1 results and conference call details are scheduled for early May 2026.

• The company’s own Q1 guidance (issued Feb 17, 2026) called for revenue of $58‑$60 million, glasses >$10 M and EBITDA margin 4‑6%.
• Actual revenue fell ~1% below the low end of the guided range ($57.4 M vs $58 M), while glasses revenue and EBITDA margin beat expectations.
• The variance is modest relative to the company’s size (≈$0.6 B market cap) and does not constitute a surprise or game‑changing development.
• Historical trend shows consistent top‑line growth of 20‑30% YoY and improving profitability; Q1 performance aligns with that trajectory.
• Consequently, the news is routine – positive on operational metrics but neutral overall due to a slight revenue miss versus guidance.

KITS Eyecare Ltd. operates a vertically integrated, digital‑first vision care platform that designs, manufactures and sells prescription eyeglasses, contact lenses and smart AI eyewear (the Pangolin line). The company leverages an in‑house lens lab for same‑day fulfillment and maintains an omni‑channel strategy combining e‑commerce with physical showrooms. Its flagship initiative is the Pangolin AI glasses series, which integrates dual cameras, real‑time vision intelligence and prescription capability, positioning KITS at the intersection of eyewear and consumer wearable technology. The upcoming Toronto flagship store (2,500 sq ft) serves as a tangible extension of this omni‑channel model and a testbed for future Canadian retail expansion.