Mr. Roger Hardy reports

KITS EYECARE ANNOUNCES REVISED Q1 2025 GUIDANCE, ANTICIPATES HIGHER ADJUSTED EBITDA THAN PREVIOUSLY FORECASTED

Kits Eyecare Ltd. has made an upward revision to the company's Q1 2025 adjusted EBITDA guidance. The company now expects Q1 adjusted EBITDA of approximately 6 per cent to 8 per cent, exceeding the previously guided range of 4 per cent to 6 per cent.

Updated first quarter 2025 outlook

For the first quarter of 2025, Kits management has increased their adjusted EBITDA target range of 6 per cent to 8 per cent, an increase from the initial range of 4 per cent to 6 per cent. Forecasted revenue remains between $46-million and $48-million, representing a 32-per-cent to 38-per-cent growth rate year over year.

Management commentary

"We are pleased to increase our guidance for adjusted EBITDA from 4 to 6 per cent to 6 to 8 per cent, reflecting the strength of our business model and the continued momentum across our key growth drivers," said Roger Hardy, chief executive officer and co-founder of Kits. "We are seeing significant traction in new glasses customers as our latest collections resonate with first-time buyers and drive repeat purchases among existing customers. Consumption per customer remains strong as customers recognize the quality and value of our offering. As we continue to scale, we remain focused on delivering exceptional value to our customers while driving sustainable, margin-accretive growth for our shareholders."

This revision aligns with the company's continuing strategy to deliver consistent growth and operational excellence while maintaining transparency with its investors.

About Kits Eyecare Ltd.

Kits makes eyecare easy. Kits is a leading vertically integrated digital eyecare brand providing eyewear for eyes everywhere. Kits offers customers access to a vast selection of contact lenses and eyeglasses, including its own exclusive Kits designed products, as well as a robust suite of on-line vision tools. The company's efficient digital platform, backed by its industry-leading manufacturing and designs, removes intermediaries, and enables Kits to offer great prices and deliver made-to-order personalized products with incredible care and accuracy. Kits is creating disruption in the industry by constantly pursuing cutting-edge technologies to enable the best customer experience, including on-line eyewear fitting tools and virtual try-on for glasses. Kits strives to delight its customers with its competitive prices, a convenient digital shopping experience, fast and reliable delivery options, and an unrelenting focus on earning its customers' lifelong trust.

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