Canada's Kits Eyecare Q1 revenue rises 23% to record

Kits Eyecare

06/05/2026 12:17

Overview

Canada eyecare platform's Q1 revenue rose 23% yr/yr to record C$57.5 mln

Net income for Q1 increased 23% to C$2.0 mln

Q1 glasses revenue jumped 61% yr/yr, driven by higher unit sales and premium upgrades

Outlook

Kits Eyecare expects Q2 revenue between $57.0 mln and $59.0 mln

Company sees Q2 Adjusted EBITDA margin between 3.0% and 5.0%

Result Drivers

GLASSES SEGMENT GROWTH - Glasses revenue rose 61% yr/yr, driven by higher unit sales and increased adoption of premium lens upgrades

CONTACT LENS STABILITY - Contact lens segment continued to deliver durable, recurring revenue, expanding to C$46.7 mln

REPEAT ORDERS - Repeat orders accounted for 63.9% of total Q1 revenue, supporting profitability and customer acquisition efficiency

Company press release: ID:nCNW9dCZDa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Net Income
C$2 mln
Q1 Gross Margin
40.90%
Q1 Gross Profit
C$23.50 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 7 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

Wall Street's median 12-month price target for Kits Eyecare Ltd is C$25.00, about 74.9% above its May 5 closing price of C$14.29

The stock recently traded at 45 times the next 12-month earnings vs. a P/E of 72 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)