Mister Spex Reports Q1 2026 Earnings Improvement and Introduces Four Structural Enablers for Scalable Operating Model

Mister Spex SE reported improved operating performance for the first quarter of 2026, with adjusted EBITDA rising 88% to €1.3 million despite a 9% year-on-year decline in net revenue to €40.7 million. The company attributed the revenue drop to a challenging consumer environment and a deliberate shift toward revenue quality in its online segment, which declined 19% due to reduced promotions and the closure of five unprofitable international shops. Conversely, the offline store network grew 11%, supported by new openings and acquisitions. Gross margin expanded by approximately 230 basis points to 59%, driven by a higher share of prescription glasses and premium lens sales. Mister Spex also introduced four structural enablers—Unified Stack, AI-Driver, Operating Leverage, and Value Creation—to build a resilient operating model and confirmed its full-year 2026 guidance.