From GlobeNewswire: 2025-03-18 16:15:00

Waldencast plc reported a Q4 net revenue of $72.1 million, with 29.4% comparable net revenue growth and $11.2 million of adjusted EBITDA, doubling from Q4 2023. FY 2024 net revenue was $273.9 million, showing 27.5% comparable net revenue growth and $40.3 million of adjusted EBITDA. Obagi Medical was the fastest-growing skincare brand in the US in 2024. Milk Makeup expanded distribution to Ulta Beauty. Waldencast secured a new $205 million credit facility to enhance flexibility.

Waldencast Founder and CEO Michel Brousset highlighted a transformative year with outstanding growth and strategic progress in 2024. Milk Makeup and Obagi Medical introduced successful innovations, with Milk Makeup launching in over 600 Ulta Beauty locations this spring. The company is excited about the year ahead and expects significant milestones in building a best-in-class beauty and wellness platform.

In Q4 2024, Waldencast saw a 30.8% increase in net revenue to $72.1 million, driven by Milk Makeup channel expansion and Obagi Medical’s growth. Gross profit was $49.4 million, with adjusted gross profit at $52.6 million. Net loss improved to $22.6 million, and adjusted EBITDA doubled to $11.2 million. The company maintained strong cash conversion and entered a new $205 million credit facility.

Obagi Medical’s Q4 net revenue reached $42.2 million, with 27.7% comparable net revenue growth. Adjusted gross margin contracted to 78.7%, and adjusted EBITDA was $9.8 million. Milk Makeup’s Q4 net revenue was $29.9 million, up 31.9%, with adjusted gross margin at 64.9% and adjusted EBITDA at $4.8 million. Both brands showed significant operational leverage and growth.

For the year ended 2024, Waldencast reported a $273.9 million net revenue with a 27.5% comparable net revenue growth. Gross profit was $191.7 million, adjusted gross profit was $203.6 million, and net loss improved to $48.6 million. Adjusted EBITDA was $40.3 million, with an adjusted EBITDA margin of 14.7%. The company expects mid-teens net revenue growth in 2025.

Waldencast will host a conference call on March 19, 2025, to discuss its Q4 and year-end results. The company provides non-GAAP financial measures to facilitate understanding of its performance. Forward-looking statements caution that actual results may vary due to market conditions and other factors. Contacts for investors and media are available for further information.



Read more at GlobeNewswire:: Waldencast Reports Q4 2024 and Fiscal Year 2024 Financial