Kits Eyecare Ltd. (KITS) announced record revenue growth of 34.4% in the third quarter of 2024, reaching $41.9 million. The company attributed this growth to strong repeat customer revenue in both contact lenses and eyeglasses, with higher average order values. KITS also reported a significant milestone in glasses revenue, up 43.2% year-over-year, and welcomed a record number of new customers.
KITS Eyecare, a leading vertically integrated eyecare provider, will hold a conference call on November 6th, 2024 to discuss its financial results for the third quarter of 2024. The call will be webcast live and followed by a Q&A session.
KITS Eyecare Ltd. (KITS) announced record-breaking sales of $3.6 million for the week ending October 12, 2024, marking a strong start to the fourth quarter. This surge in sales is attributed to increased website traffic and customer engagement, driven by KITS’ ongoing Customer Appreciation Month celebration. With a focus on delivering exceptional style, value, and convenience, KITS is well-positioned to continue expanding its digital footprint and reach more customers across North America.
Kits Eyecare Ltd. has successfully closed the over-allotment option in its secondary offering, raising an additional $1.7 million. This move brings the total funds raised in the offering to a significant amount, further bolstering the company’s financial position and growth strategy.
KITS Eyecare Ltd. announced strong preliminary results for its third quarter ended September 30, 2024, reporting a 34% year-over-year increase in total revenue to approximately $41.7 million. The company also saw an improvement in Adjusted EBITDA, reaching approximately 3% of revenue, and maintained a healthy cash balance exceeding $19.0 million.
KITS Eyecare Ltd. has announced an upward revision to its Q3 2024 revenue guidance, exceeding the previously projected range of $39 million to $41 million. This revision follows a record-breaking week of sales, reaching approximately $3.5 million for the week ending August 31, 2024. The company attributes this strong performance to increased demand and improved operational efficiency.
KITS Eyecare Ltd. has launched KITS Daily Color Contacts, adding a vibrant new dimension to its existing range of contact lenses. This expansion comes at a time when the global colored contact lens market is experiencing significant growth, with an estimated value of USD $9.82 Billion by 2033. KITS aims to capitalize on this trend with its innovative and high-quality color contact lenses, available in a range of colors to enhance and define the look of the eyes.
Avulux and Eyenavision have teamed up to introduce Chemistrie Avulux, a new on-demand eyeglass clip designed for individuals with migraine and light sensitivity. This innovative product combines Avulux’s clinically proven migraine lenses with Eyenavision’s Chemistrie lens layering system, offering a convenient solution for patients seeking relief from migraine triggers.
