Waldencast Earnings Call Transcripts
Fiscal Year 2026
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The meeting confirmed a quorum, addressed shareholder questions, and approved all resolutions by large majorities, including the reappointment of three directors and the auditor. Final voting results will be filed with the SEC.
Fiscal Year 2025
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Q1 2025 net revenue declined 4.1% year-over-year to $65.4 million, but strong US retail sales, innovation, and new distribution for Milk Makeup and Obagi Medical support confidence in mid-teens full-year growth and profitability targets. Adjusted gross margin and EBITDA margins remain robust.
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The platform is building a global beauty and wellness business through brand creation and acquisition, focusing on high-margin, high-growth brands like Milk Makeup and Obagi. Strong innovation, disciplined distribution, and international expansion underpin robust financial performance and future growth.
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A multi-brand beauty platform is driving rapid growth through brand creation and acquisition, focusing on operational efficiency, high marketing ROI, and international expansion. Gross margins and profitability have improved significantly, with a repeatable model fueling future growth.
Fiscal Year 2024
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Delivered strong revenue and profit growth in 2024, with both Milk Makeup and Obagi Medical outperforming their markets and expanding margins. Guidance for 2025 anticipates mid-teens revenue growth and further margin expansion, supported by innovation and expanded distribution.
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Q3 2024 saw 34.6% comparable net revenue growth and 134% adjusted EBITDA increase, driven by strong performance in both Milk Makeup and Obagi Medical, with robust international expansion and innovation. Guidance for 2024 is reaffirmed, and the company remains optimistic for 2025.
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Q2 2024 saw 25.7% year-over-year growth, with both Milk Makeup and Obagi Medical outperforming their categories and driving strong margin expansion. Full-year guidance was raised, with continued investment in marketing and international growth expected.
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The platform is scaling high-growth beauty brands through asset-light operations, targeted acquisitions, and strong marketing. Milk and Obagi are driving growth with innovation, international expansion, and robust margins, while the industry remains healthy and acquisition opportunities abound.
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Beauty market growth remains robust, with strong performance in both skincare and makeup, especially among younger consumers. Milk Makeup and Obagi are accelerating sales through innovation, expanded marketing, and international growth, with sustainable margin improvements and a positive liquidity outlook.
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Strong Q1 results with 21% net sales growth and margin expansion were driven by innovation, marketing, and international expansion. Both brands outpaced the prestige beauty market, with significant opportunities ahead in distribution, consumer engagement, and digital transformation.