From GlobeNewswire: 2024-11-20 17:00:00

Waldencast plc reported $70.2 million in Net Revenue for Q3 2024, showing a +34.6% growth in Comparable Net Revenue. Adjusted EBITDA reached $11.4 million, up by +134.0% from Q3 2023. Both Obagi Medical and Milk Makeup brands saw growth, with +45.5% and +23.5% respectively compared to Q3 2023.

Obagi Medical achieved a Net Revenue of $38.7 million in Q3 2024, a 45.5% increase from Q3 2023. Adjusted EBITDA also rose to $7.5 million, a 129.7% increase. The growth was driven by increased brand awareness, strong innovation, and expanded distribution domestically and internationally.

Milk Makeup saw a Net Revenue of $31.5 million in Q3 2024, up by 23.5% from Q3 2023. Adjusted EBITDA doubled to $8.5 million. The growth was attributed to increased brand awareness, product launches, and expansion into new European retailers. Adjusted EBITDA Margin improved to 27.1%.

For the nine months ended September 30, 2024, Waldencast reported a Net Revenue of $201.8 million, a +23.8% increase from Nine Months 2023. Gross Profit was $142.3 million, with Adjusted Gross Profit at $150.9 million. Adjusted EBITDA was $29.1 million, with an Adjusted EBITDA Margin of 14.4%.

Waldencast anticipates delivering above 25.7% Comparable Net Revenue Growth achieved in Q2 2024 for Fiscal 2024. The company aims to maintain an Adjusted EBITDA Margin in the mid-teens. The business also maintained strong liquidity during Q3 2024, with $17.6 million in cash and cash equivalents and $154.0 million of Net Debt.

Fully Diluted Shares as of November 15, 2024, stood at 128,328,987, with 122,850,904 ordinary shares outstanding. The company’s outstanding shares include both Class A and Class B ordinary shares. All contractual lock-ups with shareholders have expired.

Waldencast’s vision is to build a global beauty and wellness platform with conscious, high-growth brands. The company’s platform benefits from operational scale, expertise in managing global beauty brands, and market responsiveness. Obagi Medical and Milk Makeup are the first brands under the Waldencast platform.



Read more at GlobeNewswire:: Waldencast Reports Q3 2024 Financial Results