Kits Eyecare Ltd., a leading vertically integrated eyecare provider, reported on Thursday its financial results for the third quarter ended September 30, 2025, with revenue increasing 25.1% year-over-year to a record $52.4 million.
“Q3 was another record quarter of profitable growth for KITS,” said Roger Hardy, Co-Founder and CEO of KITS. “We’re adding new customers at a record pace, expanding margins, and seeing customers in both glasses and contact lenses return at record levels.
“Making eyecare easy has been a lot of fun this quarter as the team delivered exceptional results across the board for customers and shareholders. With revenue for the nine months ended September 30 up 29.7% year-over-year to $148.6 million, Adjusted EBITDA up more than 150% to $8.9 million, and net income increasing over seven-fold; our momentum continues to build.
“We remain deeply enthusiastic about the prospects of our many high-growth, high-margin initiatives and confident they will continue to create value and transform the eyecare category in the coming quarters.”
Third Quarter 2025 Financial & Operational Highlights
For the third quarter of 2025, compared to the third quarter of 2024:
- Revenue increased by 25.1% to a record $52.4 million compared to $41.9 million
- Gross profit increased by 31.6% to $18.1 million, or 34.6% of revenue, compared to $13.8 million, or 32.9% of revenue
- Adjusted EBITDA improved by 79.0% or $1.3 million to $2.9 million compared to $1.6 million
- Net Income increased by 1,367.4% to $1.9 million or $0.06 per share, compared to $0.1 million or $0.00 per share
- Two-year Active Customers surpassed 1 million, an increase of 15.7% year-over-year
Year-to-Date 2025 Financial & Operational Highlights
For the nine months ended September 30, 2025, compared to the nine months ended September 30, 2024:
- Revenue increased 29.7% to $148.6 million compared to $114.5 million
- Gross profit increased by 42.5% to $53.3 million or 35.8% of revenue, compared to $37.4 million or 32.6% of revenue
- Net income increased by 643.1% to $2.8 million or $0.09 per share compared to a net income of $0.4 million or $0.01 per share
- Adjusted EBITDA improved by 152.5% or $5.4 million to $8.9 million compared to $3.5 million
- New customers of 305,000, an increase of 36.5% year-over-year
“For the fourth quarter of 2025, KITS management expects revenue to be in the range of $52 million to $54 million, with Adjusted EBITDA as a percentage of revenue between 4% and 6%. The Company intends to announce a Chief Marketing Officer in Q1 2026, to support the Company’s long-term growth strategy,” said Kits.
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