Oddity Q4 2023 Earnings: Beats Sales, Earnings Forecasts

25 Mar

Oddity topped Wall Street forecasts in the ultimate three months of 2023 because it prepares to launch brands three and 4 next yr. The publicly listed owner of skincare brand SpoiledChild and makeup line Il Makiage reported net revenue of $97 million in its fourth quarter, in comparison with $67 million a yr earlier. Wall Street had forecast $85.9 million, based on Factset. Net income was $5.1 million in comparison with a net lack of $700,000 within the fourth quarter of 2022. Adjusted diluted earnings per share were 17 cents, up from 1 cent a yr earlier. Analysts were expecting 9 cents. Providing a brand update, global chief financial officer Lindsay Drucker Mann told WWD that two-year-old SpoiledChild delivered $110 million in net...

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9 Aug

Oddity Raises Outlook on Higher-than-expected Q2 Results – WWD

by Beautifaire101

Beauty, Featured

Newly public Oddity Tech, the parent company of Il Makiage and SpoiledChild, has had one other success. After a better-than-expected public debut last month, the corporate just announced that it surpassed forecasts for the second quarter ended June 30, allowing it to boost its full-year outlook. Net revenue got here in at $151.3 million, up from $97.7 million a yr earlier and $11.8 million above estimates. Net income, meanwhile, was $30 million, compared with $16.6 million in the identical period a yr prior. On an adjusted basis, it was $32.3 million. Adjusted diluted earnings per share was 56 cents, up from 33 cents a yr earlier. “We delivered our strongest second quarter and year-to-date financial results ever, beating our plan on revenue and...

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20 Jul

Oddity Shares Surge 35 Percent in Its Stock Market

by Beautifaire101

Beauty, Featured

In an indication that the IPO market might be warming up, Oddity, the parent company of Il Makiage and SpoiledChild, has gone public, with investors diving into the stock. Shares in the corporate, which is trading on the Nasdaq Global Market under the ticker “ODD,” closed up 35 percent, or $12.53, to $47.54, valuing the corporate at about $2.7 billion. On Tuesday Oddity revealed that it had priced its IPO at $35 a share, above expectations. Originally it had targeted ranges of $27 to $30 and on Monday said it was targeting $32 to $35. In an interview, the corporate’s global chief financial officer Lindsay Drucker Mann put its success right down to its digital prowess. “We’ve unlocked online,” she said. “You have got...

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6 Jul

Oddity Files to Go Public, Here’s What to Know

by Beautifaire101

Beauty, Featured

After years of speculation, Oddity, whose brands include Il Makiage and Spoiled Child, has officially filed to go public on the Nasdaq Global Select Market under the ticker “ODD.” Founders, brother and sister Oran Holtzman and Shiran Holtzman-Erel, relaunched cosmetics brand Il Makiage in 2018 after receiving a $29 million investment from L Catterton, which bought a 35.8 percent stake within the business in 2017. It launched its second brand Spoiled Child in February 2022, with 17 refillable stock keeping units across hair care and skincare, priced from $45 to $95. Most recently, Oddity acquired Boston-based biotechnology start-up Revela for $76 million. With the acquisition and an extra $25 million investment, the corporate plans to ascertain Oddity Labs in Boston. The move...

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