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GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0% GLDN 0.055 +0.0% BRON 0.040 +0.0% BTO 5.43 −0.7% ESK 0.365 −2.7% AUMN 0.275 +0.0% GGX 0.040 +0.0% S 0.155 +29.2% NNX 0.035 +0.0% ABX 51.90 −0.6% TTS 2.40 −4.0% FCI 0.400 −9.1% GR 0.075 +0.0% AII 23.38 +12.4% TUNG 1.72 +1.8% LGO 1.01 −2.9% EMM 0.080 +0.0%
Earnings

KITS Eyecare Reports Record Fourth Quarter and Full Year 2025 Results

By The Northwire Desk — AI Analysis Mar 04, 2026 · 16:00 KITS · 17.45 KITS EYECARE LTD.
KITS · Price

Executive Summary

  • Kits Eyecare reported record full‑year 2025 revenue of $202.5 M (↑27% YoY) and Adjusted EBITDA of $11.7 M (↑83% YoY).
  • Q4 2025 revenue reached a new high of $53.9 M (↑20.2% YoY); glasses revenue hit $8.7 M with units delivered up 42%.
  • The company announced strategic milestones: beta launch of OpticianAI™, opening of a second flagship showroom in Toronto Q1 2026, and a $15 M asset‑based lending facility secured in Nov 2025.

Key Details

  • Revenue: FY 2025 $202.5 M vs. $159.3 M (2024); Q4 2025 $53.9 M vs. $44.8 M (Q4 2024).
  • Gross Profit: FY 2025 $72.1 M (35.6% of revenue) vs. $53.7 M (33.7%) 2024; Q4 2025 $18.8 M vs. $16.3 M Q4 2024.
  • Adjusted EBITDA: FY 2025 $11.7 M (5.8% margin) vs. $6.4 M (4.0%) 2024; Q4 2025 $2.8 M (5.3% margin) vs. $2.9 M (6.5%) Q4 2024.
  • Net Income: FY 2025 $3.1 M ($0.10 per basic share); Q4 2025 $0.3 M ($0.01 per basic share).
  • Operating Cash Flow: $11.5 M generated in FY 2025.
  • Customer Base: Active customers >1 million (↑16.5% YoY); 393,000 new customers added in 2025.
  • Glasses Delivered: Record 426,000 pairs FY 2025; Q4 2025 118,000 pairs (+42%).
  • Technology Milestones: July 2025 beta launch of OpticianAI™ platform (AI‑driven facial measurement & lens guide).
  • Physical Expansion: Second flagship showroom (2,500 sq ft) slated to open Q1 2026 on Queen Street West, Toronto.
  • Financing: $15 M asset‑based loan facility with Bank of Montreal secured Nov 2025; BDC term loan repaid ahead of schedule.
  • Liquidity Position: Cash & cash equivalents $29.8 M at FY end 2025.
  • Guidance: Q1 2026 financial guidance reaffirmed (originally issued Feb 17 2026).

Notable Quotes

“2025 was a defining year for KITS… we surpassed the $200 million revenue milestone, expanded gross margins by 190 basis points, and nearly doubled Adjusted EBITDA… With a de‑risked balance sheet, our second flagship showroom opening in Toronto, and stronger momentum than at any point in our history, we believe we are well‑positioned to continue delivering exceptional value for both customers and shareholders in 2026.” – Roger Hardy, Co‑Founder & CEO

The release includes a conference call invitation (Mar 4 2026, 4:30 p.m. ET) and standard forward‑looking statements.

Read the original news release →

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Production / Operations