Sabrina Liak (l) and Roger Hardy.

VANCOUVER—Kits Eyecare Ltd. (TSX: KITS), a digital eyecare platform based here, said this week that it has appointed Sabrina Liak as president, adding to her existing role as chief financial officer. Roger Hardy, co-founder of Kits, will continue in his role of chairman and chief executive officer, and he will continue to lead the company's “long-term strategy and growth initiatives, capitalize on strategic opportunities, and deliver value to shareholders,” according to the company’s announcement this week.

“Since co-founding Kits, Sabrina has helped accelerate our growth and expansion within eyecare, establish our results-oriented management system, and drive cost optimizations across our business,” Hardy said in the announcement.
 
Liak will focus on delivering on the Kits’ brand promise to make high-quality eyewear convenient and accessible.
 
“I am honored to lead such an exceptional team and humbled by the faith my partners have placed in me,” Liak said. “I am energized by the opportunities ahead for Kits and I look forward to working with our team and partners to build on the tremendous momentum and success we have achieved so far.”
 
Previously, Liak was a private equity portfolio manager at Goldman Sachs in New York, where she was responsible for investing in growth companies. In this role, she developed a deep knowledge of corporate strategy and the inner workings of operational functions, according to the announcement.
 
 
Separately, Kits reported late last week that it achieved positive cash flow from operations of $2.3 million and positive EBITDA in its second quarter. The company, Canada's largest direct-to-consumer eyeglasses manufacturer and digital eyecare provider, also noted that revenue was “consistent at $21.8 million year-on-year, and up 8.6 percent quarter-on-quarter.” 
 
The gross profit grew 49.7 percent year-on-year to a record $7 million and was up 14.8 percent quarter-on-quarter.
 
Glasses revenue grew 48.3 percent year-on-year and units grew 72.1 percent to a record 74,000 eyeglasses delivered.
 
In addition, Kits said returning customers comprised 69 percent of second quarter revenue, “continuing category leading retention,” and marketing expenses declined 23.3 percent in the quarter year-on-year.
 
"It was an outstanding quarter as we delivered 175,000 eyecare orders in Q2, delivering almost 2,700 orders a day to vision-corrected patients, making us one of the largest vision providers in Canada,” Hardy said in the earnings announcement.
 
“Overall, we made tremendous headway in what was a challenging macro environment. Having proven our asset-light, cash-generating model's resilience and category-leading loyalty metrics, fueled by beautifully high NPS and satisfaction metrics, we will continue growing our leadership position in coming quarters,” he added.
 
Liak noted that she believes the second quarter showed the ability of Kits’ digital, vertically-integrated, onshore business model to outperform in times of disruption and volatility.
 
“The Kits team efficiently executed through tough consumer and supply chain circumstances. This quarter, we reached a significant milestone and generated positive cash from operations and EBITDA for the first-time since our IPO. Our strong team, data driven culture, operational excellence and lasting connection with our loyal consumers position us well for the future,” she said.