EssilorLuxottica Posts Record Revenue Growth Driven by AI-Glasses and Myopia Management Innovation

The global eyecare giant has reported double-digit annual revenue growth for the first time in its history, with smart eyewear and advanced vision solutions leading the charge.

EssilorLuxottica has delivered a landmark year with revenue growing 11.2% at constant exchange rates to €28.5 billion (approximately AU$47 billion) for the full year 2025, marking the first time the company has achieved annual double-digit sales growth since its formation.

The performance was particularly strong in the fourth quarter, with revenue surging 18.4% at constant exchange rates, driven primarily by the accelerating success of AI-powered smart glasses and expanding myopia management solutions.

AI-Glasses Revolution Gains Momentum

The standout performer was the company's AI-glasses category, which sold more than 7 million units throughout 2025. The Ray-Ban Meta range, which launched in September 2023, has become the world's number one selling AI glasses, with the addition of Oakley Meta models in June 2025 further accelerating growth.

"Our success in wearables is helping to propel the AI-glasses revolution, with our iconic brands being a powerful driver of demand," said Francesco Milleri, Chairman and CEO, and Paul du Saillant, Deputy CEO of EssilorLuxottica.

The smart eyewear category proved particularly strong in North America, which grew more than 40% in the Professional Solutions segment during Q4, with significant contributions from all regions globally.

Myopia Management Breakthrough

EssilorLuxottica's myopia management portfolio expanded revenue by 22% worldwide, with the US market "on the blocks for a strong start" following FDA market authorization for Stellest lenses.

Stellest is now the first and only FDA market-authorized spectacle lens clinically proven to slow myopia progression in children, with clinical data showing the lens slowed myopia progression by 71% on average over two years compared to single vision lenses.

The company announced further innovation with Stellest 2.0 lenses in Greater China, which deliver significantly higher efficacy in slowing axial elongation. Six-year clinical findings presented at the China Optometry & Ophthalmology Conference demonstrated that Stellest lenses slowed myopia progression by 1.95D (57%) and axial elongation by 0.81mm (52%) on average.

Hearing Solutions Enter Market

Nuance Audio, EssilorLuxottica's open-ear hearing solution integrated into smart glasses, received FDA clearance and EU certifications in February 2025. The product is now available in 12 markets including Australia, where it launched in the fourth quarter, and is stocked in 15,000 doors worldwide.

The innovative hearing aid software represents the first FDA-cleared, preset Software as Medical Device (SaMD) in the US, marking a significant expansion of the company's medtech capabilities.

Regional Performance

All major regions delivered double-digit growth in both Q4 and the full year:

• North America: Revenue of €12.8 billion, up 11.6% at constant exchange rates, with Q4 growth of 23.8%
• EMEA: Revenue of €10.8 billion, up 11.8%, exceeding the €10 billion threshold for the first time
• Asia-Pacific: Revenue of €3.4 billion, up 10.1%, with strong performance in myopia management solutions

Strategic Acquisitions Advance Medtech Vision

The company completed several strategic acquisitions during 2025 to advance its medtech transformation, including:

• Optegra: A European ophthalmology platform operating over 70 eye hospitals and diagnostic facilities across five countries
• Cellview: A Canadian start-up specializing in ultrawidefield retinal imaging
• RetinAI: An AI and data management company for eye care
• Automation & Robotics: A Belgian company designing automated systems for optical lens quality control

Margin Impact and Outlook

Despite strong revenue growth, the adjusted operating margin of 16.0% was impacted by US import tariffs and the higher revenue mix from AI-glasses, which carry different margin profiles. The company generated record free cash flow of €2.8 billion, up €400 million from 2024.

Looking ahead, EssilorLuxottica has updated its long-term outlook. Over the next five years, the company plans to deliver solid revenue growth with broadly aligned growth in adjusted operating profit, underpinned by its medtech transformation strategy.

"We are confident that this momentum will continue, confirming the strength and relevance of our vision and the excellence of our execution," the leadership team stated.

The Board has proposed a dividend of €4.00 per share, with shareholders offered the option to receive payment in cash or newly issued shares.