KITS Eyecare Ltd., the leading vertically integrated eyecare provider, has announced impressive preliminary results for its third quarter ended September 30, 2024. The company experienced significant growth, with total revenue soaring 34% year-over-year to approximately $41.7 million. This remarkable performance reflects KITS’ continued commitment to delivering innovative and accessible eyecare solutions.
In addition to revenue growth, KITS also achieved positive gains in Adjusted EBITDA, which improved to approximately 3% of revenue. This indicates a strengthening financial position and operational efficiency. The company concluded the quarter with a robust cash balance exceeding $19.0 million, demonstrating its financial stability and capacity for future growth initiatives.
KITS is committed to providing a seamless and convenient eyecare experience, offering customers a vast selection of contact lenses and eyeglasses, including its own exclusive KITS designed products. Their robust online platform, backed by industry-leading manufacturing and designs, enables them to offer competitive pricing and personalized products with exceptional care and accuracy. KITS is constantly innovating, employing cutting-edge technologies like online eyewear fitting tools and virtual try-on features to enhance the customer experience. Their dedication to delivering exceptional value, convenience, and customer satisfaction has positioned them as a disruptor in the eyecare industry.
KITS plans to release its full third-quarter 2024 results in early November 2024, providing a more comprehensive overview of its performance. Further details regarding the conference call for the third quarter 2024 results will be announced in the coming weeks. This announcement reinforces KITS’ position as a leading force in the digital eyecare market, poised for continued growth and innovation.
