Kits Eyecare Ltd., a leading vertically-integrated eyecare provider, announced Wednesday its financial results for the second quarter ended June 30, 2026, saying it achieved record revenue of $58.4 million, an increase of 17.8% year-over-year.
“We believe the value of our business lies in the strength of the KITS brand and the loyalty it earns — and this quarter, that loyalty showed up in the numbers,” said Roger Hardy, Co-Founder and CEO of KITS. “Repeat revenue grew 27.4% to 65.5% of revenue, average order value reached a record $213, glasses grew 54% at expanding margins, and the business generated a record $7.8 million in operating cash flow for the quarter. Very few companies grow at this rate; even fewer do it while generating cash. We are one of them. The business is now paying for its own acceleration, and we are still early.”
“Coming into 2026 we made a deliberate decision to build out our glasses business, and the results – 54% growth, with the strongest new-customer cohorts in our history validates that focus,” added Tai Silvey, President of KITS. “In the back half we intend to rebalance: sustaining the momentum in glasses while ensuring our contact lens acquisition engine remains robust. Customers are choosing KITS for all of their vision needs because of the uniqueness of our vertically integrated model – quality, value, and speed in a combination we don’t believe anyone else in the category can match. Our mission is to make eyecare easy, and more than 1.1 million active customers are telling us it’s working.”
Second Quarter 2026 Financial & Operational Highlights
For the second quarter of 2026, compared to the second quarter of 2025:
- Revenue increased by 17.8% to a record $58.4 million compared to $49.6 million
- Glasses revenue grew 54.0% to $11.1 million, representing 18.9% of revenue, compared to 14.5%; premium lens upgrades represented 45.2% of glasses revenue
- Repeat revenue grew 27.4% to a record $38.3 million, or 65.5% of revenue, compared to 60.6% of revenue
- Gross profit increased by 23.0% to $22.2 million, or 37.9% of revenue, compared to $18.0 million, or 36.3% of revenue
- Adjusted EBITDA margin was 5.0% of revenue, with $2.9 million of Adjusted EBITDA, compared to 5.2% of revenue, and $2.6 million
- Net Income increased by $2.2 million to $1.5 million or $0.04 per share (basic), compared to a net loss of $0.7 million or $(0.02) per share (basic)
- Record operating cash flow of $7.8 million, representing 13.3% of revenue. Closing the quarter with a cash balance of $27.4 million and no debt
Year-to-Date 2026 Financial & Operational Highlights
For the six months ended June 30, 2026, compared to the six months ended June 30, 2025:
- Net income was $3.4 million compared to net income of $0.9 million
- Revenue increased 20.5% (22.2% in constant currency) to $115.9 million compared to $96.2 million
- Glasses revenue of $21.9 million, increased 57.2% year-over-year
- Gross profit was $45.7 million or 39.4% of revenue, compared to $35.1 million or 36.5% of revenue
- Adjusted EBITDA improved by $1.1 million to $7.1 million compared to $6.0 million
For the third quarter of 2026, KITS management expects revenue to be in the range of $62.0 million to $64.0 million.
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