Kits Eyecare Ltd., a leading vertically integrated eyecare provider, today announced its financial results for the fourth quarter and full year ended December 31, 2025 as revenue increased 27.1% for 2025 to a record of $202.5 million compared to $159.3 million the year before.
“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, all while surpassing one million active customers and building out our technology platform” said Roger Hardy, Co-Founder and CEO of KITS.
“Our vertically integrated model continues to demonstrate powerful operating leverage as we scale, and the early success of OpticianAI™ and our Pangolin Gen-3 AI driven smart glasses shows that we are evolving from a leading optical retailer into a technology-driven vision care platform. 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.”
Fourth Quarter 2025 Financial & Operational Highlights
For the fourth quarter of 2025, compared to the fourth quarter of 2024:
- Revenue increased by 20.2% to a record $53.9 million compared to $44.8 million
- Gross profit increased by 15.8% to $18.8 million, or 35.0% of revenue, compared to $16.3 million, or 36.3% of revenue
- Adjusted EBITDA margin percentage was 5.3%, at $2.8 million of Adjusted EBITDA compared to 6.5%, at $2.9 million of Adjusted EBITDA
- Record Q4 glasses revenue of $8.7 million, up 32.7% year-over-year; over 118,000 units delivered, up 42.2%
- Net Income: $0.3 million ($0.01 per basic share) for the quarter.
Full Year 2025 Financial & Operational Highlights
For the full year 2025, compared to full year 2024:
- Revenue increased 27.1% to a record of $202.5 million compared to $159.3 million
- Gross profit increased by 34.4% to $72.1 million or 35.6% of revenue, , compared to $53.7million, or 33.7% of revenue; an expansion of 190 basis points.
- Adjusted EBITDA margin percentage improved to 5.8% from 4.0%
- Adjusted EBITDA improved by 82.6% to $11.7 million compared to $6.4 million
- Eyeglasses Delivered: Delivered a record of over 426,000 pairs of glasses
- Customer Growth: Surpassed 1 million 2-year active customers, serving over 393,000 new customers in 2025.
- Operating Cash Flow: Generated $11.5 million in cash flow from operations.
- Net income: $3.1 million ($0.10 per basic share) for the year.
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