KITS Eyecare Ltd. (KITS), a leading vertically integrated eyecare provider, has announced an upward revision to its Q3 2024 revenue guidance. The company now expects Q3 revenue to surpass the previously guided range of $39 million to $41 million, representing a growth rate exceeding 32% year-over-year. This revision is driven by a record-breaking week of sales, reaching approximately $3.5 million for the week ending August 31, 2024. This performance, including record sales in Canada, has instilled significant confidence in the company’s Q3 guidance.
In the Q2 2024 earnings release, KITS initially provided a revenue guidance range of $39 million to $41 million for Q3 2024. However, as the company approaches the end of the quarter, stronger-than-expected demand and improved operational performance have led management to revise the outlook upwards. The updated guidance reflects KITS’ ongoing momentum and operational strength.
The company’s outlook for Adjusted EBITDA as a percentage of revenue remains between 3% and 5%. This upward revision aligns with KITS’ ongoing strategy to deliver consistent growth and operational excellence while maintaining transparency with its investors and stakeholders.
KITS is a leading vertically integrated digital eyecare brand providing eyewear for customers worldwide. They offer a vast selection of contact lenses and eyeglasses, including their exclusive KITS designed products, alongside a robust suite of online vision tools. Their efficient digital platform, backed by industry-leading manufacturing and designs, eliminates intermediaries, enabling them to offer competitive prices and deliver personalized products with accuracy and care.
KITS is committed to disrupting the industry by constantly pursuing cutting-edge technologies to enhance the customer experience. This includes online eyewear fitting tools and virtual try-on for glasses. They strive to delight customers with competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unwavering focus on earning their lifelong trust.
