Mister Spex records improvement in revenue and profit

In the third quarter of 2023, Mister Spex SE recorded a revenue growth of 2 percent and improved its adjusted EBITDA, achieving 0.2 million euros for the quarter.

In the first nine months, Mister Spex achieved a 6 percent revenue growth and improved adjusted EBITDA by more than 5.5 million euros, reaching a cumulative total of 902 thousand euros.

The company said in a release that revenues from prescription glasses reduced by 3 percent, while revenue from sunglasses increased by 4 percent lower than the prior period impacted by worsening weather patterns in August.

During the quarter under review, average order value in the prescription glasses and sunglasses categories increased by 13 percent and 9 percent, respectively.

Commenting on the update, Mirko Caspar, co-CEO of Mister Spex said: “I am very pleased that we are very popular in the luxury and independent segment and that our average order value reflects the fact that quality plays a major role for our customers.”

For the full year, the company’s management expects a revenue growth in the mid to high single-digit percentage range and a positive adjusted EBITDA margin in the low single-digit percentage range supported by slight increases in the number of orders, average order value and number of active customers.

In 2023, the company expects to open up to 10 new stores.

“While the environment remains challenging, we are pleased to see that our products and superior buying experience continues to resonate with our customers,” added Dirk Graber, founder and co-CEO of Mister Spex.