From Globe Newswire: 2024-05-21 06:45:00

Waldencast plc reported Net Revenue of $68.3 million, a 21% increase in Comparable Net Revenue, including +20.6% in Obagi Skincare and +21.5% in Milk Makeup. Adjusted EBITDA rose +12.9% to $11.4 million. The company’s Q1 2024 results showcase significant growth in the beauty market, particularly in Prestige Skin Care and Prestige Make Up categories. Prestige Beauty continued to perform well in Q1 with a +9% growth rate. The company also shared its Fiscal 2024 Outlook, forecasting a faster growth rate in Comparable Net Revenues for the full year, along with an expected mid-teens Adjusted EBITDA Margin. Obagi Skincare saw Net Revenue of $33.8 million, a 20.6% increase in Comparable Net Revenue and an Adjusted EBITDA of $6.7 million, a 21.8% rise. Meanwhile, Milk Makeup recorded Net Revenue of $34.5 million, showing a 21.5% growth rate and an Adjusted EBITDA of $10.0 million. Both brands reported solid growth thanks to key channel expansion and accelerated innovation efforts. The company will host a conference call to discuss its Q1 results on May 21, 2024, at 8:30 AM ET. Interested parties can access the call through the company’s investor relations site. Waldencast also provided a detailed breakdown of its financial performance, highlighting Gross Profit improvements and investment in growth drivers to support future expansion.



Read more at Globe Newswire:: Waldencast Reports Q1 2024 Financial Results