KITS Eyecare Reports Record Second Quarter 2025 Results

Executive Summary

• Kits Eyecare Ltd. reported record second quarter 2025 financial results, with revenue increasing 31.0% year-over-year to $49.6 million.
• The company achieved its eleventh consecutive quarter of positive Adjusted EBITDA, which improved to $2.6 million (5.2% margin) compared to $1.3 million in the prior year period.
• Operational highlights include a record 54.6% increase in new customers (111,300) and a 44.4% surge in glasses revenue to $7.2 million.

Key Details

• Q2 2025 Revenue: $49.6 million, up 31.0% from $37.9 million in Q2 2024.
• Q2 2025 Gross Profit: $18.0 million (36.3% margin), up from $12.4 million (32.8% margin) in Q2 2024.
• Q2 2025 Adjusted EBITDA: $2.6 million (5.2% margin), up 96% from $1.3 million in Q2 2024.
• Q2 2025 Net Income/Loss: Net loss of $0.7 million ($(0.02) per share basic), compared to net income of $0.2 million ($0.01 per share basic) in Q2 2024.
• Exchange Impact: The net loss included a $1.7 million non-operating exchange loss from the revaluation of intercompany balances and long-term lease obligations; excluding this, net income was $1.0 million ($0.03 per share).
• YTD 2025 Revenue: $96.2 million, up 32.4% from $72.6 million.
• YTD 2025 Net Income: $0.9 million, up from $0.3 million.
• YTD 2025 Adjusted EBITDA: $6.0 million (6.3% margin), up from $1.9 million (2.7% margin).
• Customer Growth: Record 111,300 new customers in Q2 2025, a 54.6% increase year-over-year.
• Glasses Revenue: Increased 44.4% to a record $7.2 million in Q2 2025.
• Cash Position: Cash and cash equivalents totaled $18.1 million as of June 30, 2025.
• Q3 2025 Outlook: Management expects revenue between $52.0 million and $54.0 million, with Adjusted EBITDA margin between 5.0% and 7.0%.

Notable Quotes

• "KITS continues to prove what's possible when you combine a bold vision for the future of eyecare with operational excellence and financial discipline... This quarter marks another milestone in our journey - with record revenues of $49.6 million and eleven consecutive quarters of positive Adjusted EBITDA, driven by strong new customer growth and a 44% year-over-year increase in glasses revenues." — Roger Hardy, Co-Founder and CEO