-- In a testament to its customer-first approach and innovative business model, Canadian eyewear company KITS Eyecare delivered outstanding Q4 2024 results, reporting a 42% year-over-year revenue increase to $44.8 million. This significant growth highlights the company's strong market positioning, efficient operations, and ability to disrupt the optical industry.
Financial Highlights: KITS' Best Quarter Yet
- Revenue: $44.8 million (42% YoY increase)
- Gross Profit: $16.3 million (36.3% of revenue, up from 35.0%)
- Adjusted EBITDA: $2.9 million (up 237%)
- Net Income: $2.7 million (a major turnaround from a $0.5 million loss in Q4 2023)
- Cash Position: $19.3 million, ensuring strong liquidity for future expansion
Stock Market Performance Reflects Investor Confidence
Following this record-setting performance, KITS’ stock price has surged. As of March 31, 2025, KITS is trading at $12.10, marking a 101% increase over the past year. This momentum signals strong investor confidence in the company’s trajectory.
The Vancouver-based eyecare brand, which emerged as one of the top-performing consumer stocks on the Toronto Stock Exchange (TSX) last year, attributes its success to a combination of strategic influencer marketing, a customer-first approach, and vertical integration. Instead of relying on traditional (and often expensive) marketing tactics, KITS has embraced the power of influence.
Katie Dempsey, Director of Growth at KITS, explains, "We've built a network of influencers and referral partners who share our passion for making eyecare easy. We can reach our target audience through authentic word-of-mouth recommendations by collaborating with these creators, fostering trust and credibility.”
This organic marketing strategy is a win-win situation for KITS. Its partners get to share products they genuinely love, and the company connects with potential customers seamlessly and cost-effectively.
However, aside from its marketing strategy, one of KITS’ biggest advantages contributing to its success is its vertical integration. This approach allows it to cut retail overhead costs associated with traditional brick-and-mortar retail locations while delivering custom prescription glasses and contact lenses to customers within days.
In a conventional production process, multiple intermediaries frequently stand between the manufacturer and the consumer, each adding their markup and driving up the final cost. KITS, however, has taken a different slant – one that cuts out the middleman entirely. Instead of that middleman, its staff and team work together to control every step of the production process, from sourcing raw materials to cutting the lenses to assembling the finished product in-house. This level of integration, which is all managed from KITS’ optical lab in Vancouver, not only ensures speed and quality but also enables KITS to offer a complete pair of prescription glasses for as low as $28.
In a recent interview, Joseph Thompson, KITS co-founder and chief operating officer (COO), shares, “The KITS online-focused business model allows us to pass on these savings to our customers. We can also reach customers across the country, whether it’s through their insurance or whether they find us on-site, and deliver a pair of custom-made prescription glasses or contact lenses anywhere within a few days.”
Echoing this sentiment, Roger Hardy, Co-Founder and CEO, adds: "Our relentless focus on customer experience, paired with growing demand for the KITS brand, has been a key driver of our continued success and strong business growth."
As consumers increasingly shift towards online shopping, KITS' digital-first technique is prepared to meet their needs and preferences, whether for high-quality progressive glasses, rimless frames, or blue light lenses, and positions the company at the forefront of modernised retail.
Looking Ahead
With its record-breaking Q4 performance, KITS isn’t just riding the wave of digital transformation, it’s steering the ship. By combining customer-centric values and a vertically integrated business model, KITS has not only made premium eyewear more accessible but has also redefined what modern eyecare can look like.
With growing consumer demand, surging investor confidence, and a mission to make vision care simpler and more affordable, KITS is poised to lead the optical industry across North America and beyond.
Please visit the KITS website to see its entire catalogue of eyewear options.
Contact Info:
Name: Katie Dempsey, Senior Partnerships Manager
Email: Send Email
Organization: KITS
Website: https://www.kits.com/index
Release ID: 89156916
Google
RSS