A vertically integrated, digitally native eyecare disruptor using recurring contacts to feed high-margin glasses—now adding AI smart glasses as a potential valuation re-rating catalyst.
Overview
Kits EyeCare (KITS.TO) is a digitally native, vertically integrated direct-to-consumer eyewear platform built to simplify eyecare and disrupt legacy optical retail. It sells contact lenses, eyeglasses, sunglasses, and emerging vision tech, including AI-enabled smart glasses. The model blends stability and growth: contact lenses provide predictable replenishment-driven recurring revenue and a powerful acquisition channel, while proprietary eyeglasses—manufactured through KITS’ automated BC lab network—drive margin expansion by removing wholesale intermediaries. Momentum is strong: FY2025 eyeglasses hit record Q4 revenue of $8.7M (+32.7% YoY), repeat customers contributed ~66% of Q4 revenue, active customers surpassed 1M (+16.5% YoY), and KITS added ~393k net new customers in 2025. Revenue is US-skewed (~68% in 2024; similar in 2025), demonstrating cross-border penetration.