VANCOUVER, British Columbia—KITS Eyecare Ltd. (TSX: KITS), a vertically integrated eyecare provider, has provided selected preliminary unaudited results for the second quarter ended June 30, 2024. According to the company, total revenue grew 25 percent year-over-year to approximately $37.5 million. The company also reported that adjusted EBITDA increased year-over-year to over 3 percent of revenue and that it finished the second quarter with a cash balance of more than $19.0 million. "We are delighted to share another record quarter for the KITS business, including our seventh consecutive quarter of positive adjusted EBITDA and revenue growth at over 5x the industry average," said Roger Hardy, co-founder and CEO of KITS.

"Leading the way was our glasses business. Growth continued to be fueled by customers sharing their experiences with friends and family about the truly better way to buy eyewear and see the world," Hardy said.

The company said it will report its full second quarter 2024 results in early August 2024. Details for the second quarter 2024 conference call will be disclosed in the coming weeks, the company noted.