Kits Eyecare Ltd
TSX:KITS
Decide at what price you'd be comfortable buying and we'll help you stay ready.
|
Kits Eyecare Ltd
TSX:KITS
|
CA |
|
Mister Spex SE
XETRA:MRX
|
DE |
|
A
|
Acusphere Inc
OTC:ACUS
|
US |
|
Malaysia Smelting Corporation Bhd
SGX:NPW
|
MY |
|
Shanghai Shenqi Pharmaceutical Investment Management Co Ltd
SSE:600613
|
CN |
Kits Eyecare Ltd
Kits Eyecare Ltd. engages in the online retailing of eye care products. The company is headquartered in Vancouver, British Columbia and currently employs 95 full-time employees. The company went IPO on 2021-01-19. The firm offers customers access to a selection of contact lenses and eyeglasses, including its own exclusive KITS designed products, as well as an advanced suite of online vision tools. The firm also provides customer convenience by providing access to online virtual fittings, pupillary distance measurements, and online vision tests. The firm offers Autoship subscription delivery program for its customers. Its KITS branded collections include Little Italy, South Beach and KITS Kids.
Kits Eyecare Ltd. engages in the online retailing of eye care products. The company is headquartered in Vancouver, British Columbia and currently employs 95 full-time employees. The company went IPO on 2021-01-19. The firm offers customers access to a selection of contact lenses and eyeglasses, including its own exclusive KITS designed products, as well as an advanced suite of online vision tools. The firm also provides customer convenience by providing access to online virtual fittings, pupillary distance measurements, and online vision tests. The firm offers Autoship subscription delivery program for its customers. Its KITS branded collections include Little Italy, South Beach and KITS Kids.
Revenue: Q4 revenue was a record $53.9 million, up 20% year‑over‑year; full‑year revenue was $202.5 million, up 27%.
Profitability: Q4 adjusted EBITDA was $2.8 million (5.3% of revenue) and full‑year adjusted EBITDA was $11.7 million; Q4 operating cash flow was $6.4 million and full‑year operating cash flow was $11.5 million.
Glasses momentum: Glasses revenue grew 32.7% in Q4, units +42%, glasses gross margin ~45% in Q4, and returning glasses revenue +42.8% — management highlighted premium mix, BOGO and influencer activity as drivers.
Contacts engine: Contact lens revenue was $45.2 million in Q4 (+18% YoY); repeat contacts revenue was $30.9 million (+24% YoY); contact AOV $229 and management calls contacts the recurring annuity of the model.
AI opportunity: Kits has sold 3 generations of Pangolin AI glasses (Gen 4 launching in 2026); ~75% of AI glasses are ordered with Rx and AOV for AI glasses is over 3x regular glasses AOV.
Retail & product: Vancouver store averaged 300 pairs/week (~$1,200 per sq ft annualized); Toronto flagship opening spring 2026; product breadth expanded (16,600+ styles; 530,000+ frames in stock).
Q1 guidance: Targeting $58–$60 million revenue for Q1 2026 (glasses $10.5 million, contact lenses $48 million) with gross margins ~35%.
Balance sheet and cash: Working capital $15.3 million (up 142% YoY), repaid BDC term loan early, carrying zero long‑term debt and the strongest liquidity position since IPO.
