VANCOUVER—Kits Eyecare Ltd. (TSX: KITS), a vertically integrated, digital eyecare platform based here, said this week that in last year’s fourth quarter it delivered 50,000 eyeglasses to patients, and 156,000 total eyecare orders to patients. In the year-ago quarter of 2020, Kits reported that it delivered 20,000 eyeglasses and 150,000 total eyecare orders. For the full year 2021, Kits said it has delivered 163,000 eyeglasses to patients, and 640,000 total eyecare orders to patients. “We are happy to achieve another record level of eyeglasses delivered, including over 2,500 digital progressive eyeglasses orders delivered in Q4, despite a difficult supply chain environment,” Kits said in its announcement. “We would like to thank our customers, employees, suppliers, shareholders and supporters who helped us achieve a great year building out our eyeglasses offering.”
Kits, which investor Roger Hardy co-founded, completed a successful initial public offering in January 2021, as VMAIL reported, and raised more than $40 million in the IPO process.
The company reported that at the end of the fourth quarter it had more than $20 million of “cash on hand.”
Kits said it expects to announce in March the overall fourth-quarter financial results, along with the consolidated financials for the year that ended Dec. 31, 2021.
“KITS Eyecare patient orders delivered represent only one measure of the company's financial performance and should not be relied on as an indicator of quarterly financial results, which depend on a variety of factors, including the cost of sales, and foreign exchange movements,” the announcement noted.