The Honest Company Reports Strong Third Quarter 2024 Results and Raises Full Year Outlook
The Honest Company (NASDAQ: HNST) reported strong Q3 2024 results with record revenue of $99 million, up 15.2% year-over-year. The company achieved positive net income of $165,000, an $8 million improvement from last year's loss. Gross margin expanded significantly by 710 basis points to 38.7%. Operating expenses increased by $3 million to $38 million. The company maintained a strong balance sheet with $53 million in cash and no debt. Based on strong performance, Honest raised its full-year 2024 outlook, projecting high single-digit revenue growth and adjusted EBITDA of $20-22 million.
The Honest Company (NASDAQ: HNST) ha riportato risultati solidi per il terzo trimestre del 2024, con un fatturato record di 99 milioni di dollari, in aumento del 15,2% rispetto all'anno precedente. L'azienda ha ottenuto un utile netto positivo di 165.000 dollari, un miglioramento di 8 milioni rispetto alla perdita dell'anno scorso. Il margine lordo è aumentato significativamente di 710 punti base, raggiungendo il 38,7%. Le spese operative sono aumentate di 3 milioni, raggiungendo 38 milioni di dollari. L'azienda ha mantenuto un forte bilancio con 53 milioni di dollari in cassa e senza debiti. Sulla base delle solide performance, Honest ha rivisto al rialzo le previsioni per l'intero anno 2024, prevedendo una crescita del fatturato a singola cifra alta e un EBITDA rettificato di 20-22 milioni di dollari.
The Honest Company (NASDAQ: HNST) reportó resultados sólidos para el tercer trimestre de 2024, con ingresos récord de 99 millones de dólares, un aumento del 15.2% en comparación con el año anterior. La compañía logró un ingreso neto positivo de 165,000 dólares, una mejora de 8 millones respecto a la pérdida del año pasado. El margen bruto se expandió significativamente en 710 puntos base, alcanzando el 38.7%. Los gastos operativos aumentaron en 3 millones, sumando 38 millones de dólares. La compañía mantiene un balance sólido con 53 millones de dólares en efectivo y sin deudas. Basándose en su sólido desempeño, Honest ha elevado su previsión para el año completo de 2024, proyectando un crecimiento de ingresos de un solo dígito alto y un EBITDA ajustado de 20-22 millones de dólares.
The Honest Company (NASDAQ: HNST)는 2024년 3분기 강력한 실적을 보고하며 기록적인 매출 9,900만 달러를 달성했으며, 이는 전년 대비 15.2% 증가한 수치입니다. 회사는 165,000 달러의 긍정적인 순이익을 기록했으며, 이는 작년의 손실보다 800만 달러 개선된 것입니다. 총 마진은 710 베이시스 포인트 증가하여 38.7%에 도달했습니다. 운영 비용은 300만 달러 증가하여 3,800만 달러에 이르렀습니다. 회사는 현금 5,300만 달러와 무채무로 강력한 재무 상태를 유지하고 있습니다. 강력한 실적에 따라 Honest는 2024 전체 연도 전망을 상향 조정하여 고 단일 숫자 매출 성장과 조정된 EBITDA를 2천만-2천2백만 달러로 예측하고 있습니다.
The Honest Company (NASDAQ: HNST) a rapporté de solides résultats pour le 3ème trimestre 2024 avec un chiffre d'affaires record de 99 millions de dollars, en hausse de 15,2 % par rapport à l'année précédente. L'entreprise a réalisé un bénéfice net positif de 165 000 dollars, une amélioration de 8 millions par rapport à la perte de l'année dernière. La marge brute s'est considérablement élargie de 710 points de base pour atteindre 38,7 %. Les dépenses d'exploitation ont augmenté de 3 millions pour atteindre 38 millions de dollars. L'entreprise a maintenu un solide bilan avec 53 millions de dollars en liquidités et aucune dette. En se basant sur cette performance solide, Honest a relevé ses prévisions pour l'année 2024, prévoyant une croissance des revenus à un chiffre élevé et un EBITDA ajusté de 20-22 millions de dollars.
The Honest Company (NASDAQ: HNST) meldete starke Ergebnisse für das 3. Quartal 2024 mit einem Rekordumsatz von 99 Millionen Dollar, was einem Anstieg von 15,2 % im Vergleich zum Vorjahr entspricht. Das Unternehmen erzielte einen positiven Nettogewinn von 165.000 Dollar, was eine Verbesserung von 8 Millionen Dollar im Vergleich zum Verlust des letzten Jahres darstellt. Die Bruttomarge erweiterte sich erheblich um 710 Basispunkte auf 38,7 %. Die Betriebskosten stiegen um 3 Millionen auf 38 Millionen Dollar. Das Unternehmen wies eine starke Bilanz mit 53 Millionen Dollar in bar und ohne Schulden aus. Aufgrund der starken Leistung hat Honest die Prognose für das Gesamtjahr 2024 angehoben und erwartet ein hohes einstelliges Umsatzwachstum sowie ein bereinigtes EBITDA von 20-22 Millionen Dollar.
- Record quarterly revenue of $99 million, up 15.2% YoY
- Achieved positive net income of $165,000, an $8 million improvement
- Gross margin expanded 710 basis points to 38.7%
- Tracked channel consumption grew 9.3%, outperforming category
- Digital consumption increased 19% at largest customer
- Cash position improved by $30 million YoY to $53 million
- Raised full-year guidance for revenue and Adjusted EBITDA
- Operating expenses increased by $3 million to $38 million
Insights
The Q3 results demonstrate remarkable financial improvement, with revenue reaching a record
The balance sheet shows strengthening fundamentals with
The company's outperformance in tracked channel consumption is particularly noteworthy, growing
The combination of revenue growth and margin expansion while maintaining cost discipline demonstrates a well-executed strategy. The improved outlook reflects both operational excellence and strong market demand for clean, sustainable products, positioning Honest Company favorably in the growing conscious consumer segment.
Achieves Record Revenue of
Delivers Positive Net Income, an Increase of
Expands Gross Margin 710 Basis Points to 39% Versus Prior Year Quarter
Raises Full Year 2024 Revenue and Adjusted EBITDA Outlook
LOS ANGELES, Nov. 12, 2024 (GLOBE NEWSWIRE) -- The Honest Company (NASDAQ: HNST), a personal care company dedicated to creating cleanly-formulated and sustainably-designed products, today reported financial results for the three and nine months ended September 30, 2024 compared to the three and nine months ended September 30, 2023.
“Our strong third quarter results are a clear reflection of the power of the Honest brand and the strength of the Honest team that has executed our strategy and Transformation Initiative with discipline and excellence. Our ability to grow profitably is evidenced in our results -- with double digit revenue growth reaching an all-time high, significant expansion in gross margin, and positive net income for the period,” said Chief Executive Officer, Carla Vernón. “We are confident that our long-term growth strategy will continue to allow us to scale across our categories, meeting the growing consumer demand for cleanly-formulated and sustainably-designed products across our portfolio. With our recent performance, continued positive momentum, and overall strength of the Honest brand going into the final quarter of the year, we are again raising our full year financial outlook.”
Third Quarter Results
(All comparisons are versus the third quarter of 2023)
| For the three months ended September 30, | ||||||||||
| 2024 | 2023 | Change | ||||||||
| (In thousands, except percentages) | ||||||||||
| Revenue | $ | 99,237 | $ | 86,169 | 15.2 | % | ||||
| Gross margin | 38.7 | % | 31.6 | % | 710 | bps | ||||
| Operating expenses | $ | 38,339 | $ | 35,197 | $ | 3,142 | ||||
| Net income (loss) | $ | 165 | $ | (8,098 | ) | $ | 8,263 | |||
| Adjusted EBITDA(1) | $ | 7,079 | $ | (1,056 | ) | $ | 8,135 | |||
| Net income margin | 0.2 | % | NM | NM | ||||||
| Adjusted EBITDA Margin(1) | 7.1 | % | NM | NM | ||||||
Revenue increased
______________
(1) See the reconciliation of adjusted EBITDA and adjusted EBITDA Margin, a non-GAAP financial measure, to net income (loss) in the table under “Use of Non-GAAP Financial Measures” below in this press release.
(2) According to Circana, Inc. tracked channel consumption data. Reflects consumption for diapers, wipes, baby personal care, skin care and cosmetics items for the latest 13 weeks ended September 29, 2024.
(3) According to Fuelcomm, Inc. (“Stackline”) consumption data for our largest digital customer for the 13 weeks ended September 28, 2024.
Gross margin expanded 710 basis points to
Operating expenses increased
Net income increased
Adjusted EBITDA(1) was positive
________________
(1) See the reconciliation of adjusted EBITDA and Adjusted EBITDA Margin, a non-GAAP financial measure, to net income (loss) in the table under “Use of Non-GAAP Financial Measures” below in this press release.
Balance Sheet and Cash Flow
The Company ended the third quarter of 2024 with
Net cash provided by operating activities was
Updated Full Year 2024 Outlook
Based on strong performance in the first three quarters of the year, we are increasing our full year 2024 outlook for both revenue and Adjusted EBITDA.
| Current Outlook | Prior Outlook (as of Q2 2024) | |||
| Revenue | High Single Digit percentage growth (versus Full Year 2023) | Mid-to-High Single Digit percentage growth (versus Full Year 2023) | ||
| Adjusted EBITDA(1) |
____________
(1) We do not provide guidance for the most directly comparable GAAP measure, net income (loss), and similarly cannot provide a reconciliation between our adjusted EBITDA outlook and net income (loss) without unreasonable effort due to the unavailability of reliable estimates for certain components of net income (loss), including interest and other (income) expense, net, and the respective reconciliations. These items are not within our control and may vary greatly between periods and could significantly impact our financial results calculated in accordance with GAAP.
Webcast and Conference Call Information
A webcast and conference call to discuss third quarter 2024 results is scheduled for today, November 12, 2024, at 1:30 p.m. Pacific time/4:30 p.m. Eastern time. Those interested in participating in the conference call by phone, please go to this link https://register.vevent.com/register/BI05f7626bb1a14d23b819b1fec89c6138 and you will be provided with dial in details. A live webcast of the conference call will be available online at: https://investors.honest.com or https://edge.media-server.com/mmc/p/tt3gkzq2. A replay of the webcast will be available on the Company’s website for one year.
Forward-Looking Statements
This press release and earnings call referencing this press release contain forward-looking statements about us and our industry that involve substantial risks and uncertainties. All statements other than statements of historical facts contained in this press release are forward-looking statements. Such statements may address the Company’s expectations regarding revenue, profit margin or other future financial performance and liquidity, other performance measures and cost savings, strategic initiatives and future operations or operating results. In some cases, you can identify forward-looking statements because they contain words such as “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “potential,” “predict,” “project,” “should,” “target,” “will” or “would” or the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning our expectations regarding future results of operations and financial condition, including our revenue and adjusted EBITDA outlook for 2024; our ability to achieve or sustain profitability and generate positive cash flow; continued positive momentum in our business and strength of the Honest brand; our ability to execute on, and the continued benefits of, our Transformation Pillars of Brand Maximization, Margin Enhancement, and our long-term growth strategy and Operating Discipline; and other business strategies, plans and objectives of management for future operations.
You should not rely on forward-looking statements as predictions of future events. We have based the forward-looking statements contained in this press release and the earnings call referencing this press release primarily on our current expectations and projections about future events and trends that we believe may affect our business, financial condition and operating results.
The outcome of the events described in these forward-looking statements is subject to risks, uncertainties and other factors described in the section titled “Risk Factors” in the Annual Report, on Form 10-K for the year ended December 31, 2023, filed with the Securities and Exchange Commission on March 8, 2024, and subsequent filings with the Securities and Exchange Commission. New risks and uncertainties emerge from time to time, and it is not possible for us to predict all risks and uncertainties that could have an impact on the forward-looking statements contained in this press release or the earnings call referencing this press release. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events or circumstances could differ materially from those described in the forward-looking statements.
In addition, statements that contain “we believe” and similar statements reflect our beliefs and opinions on the relevant subject. These statements are based on information available to us as of the date of this press release. While we believe that information provides a reasonable basis for these statements, that information may be limited or incomplete. Our statements should not be read to indicate that we have conducted an exhaustive inquiry into, or review of, all relevant information. These statements are inherently uncertain, and investors are cautioned not to unduly rely on these statements.
The forward-looking statements made in this press release and the earnings call referencing this press release relate only to events as of the date on which the statements are made. We undertake no obligation to update any forward-looking statements made in this press release to reflect events or circumstances after the date of this press release or to reflect new information or the occurrence of unanticipated events, except as required by law. We may not actually achieve the plans, intentions or expectations disclosed in our forward-looking statements, and you should not place undue reliance on our forward-looking statements. Our forward-looking statements do not reflect the potential impact of any future acquisitions, mergers, dispositions, joint ventures or investments.
About The Honest Company
The Honest Company (NASDAQ: HNST) is a personal care company dedicated to creating cleanly-formulated and sustainably-designed products spanning categories across diapers, wipes, baby personal care, beauty, apparel, household care and wellness. Launched in 2012, the Company is on a mission to challenge ingredients, ideals, and industries through the power of the Honest brand, the Honest team, and the Honest Standard. For more information about the Honest Standard and the Company, please visit www.honest.com.
Investor Inquiries:
investors@thehonestcompany.com
Media Contact:
Brenna Israel Mast
bisrael@thehonestcompany.com
| The Honest Company, Inc. | ||||||||||||||
| Condensed Consolidated Statements of Comprehensive Income (Loss) | ||||||||||||||
| (Unaudited) | ||||||||||||||
| (in thousands, except share and per share amounts) | ||||||||||||||
| For the three months ended September 30, | For the nine months ended September 30, | |||||||||||||
| 2024 | 2023 | 2024 | 2023 | |||||||||||
| Revenue | $ | 99,237 | $ | 86,169 | $ | 278,503 | $ | 254,101 | ||||||
| Cost of revenue | 60,841 | 58,964 | 172,613 | 183,796 | ||||||||||
| Gross profit | 38,396 | 27,205 | 105,890 | 70,305 | ||||||||||
| Operating expenses | ||||||||||||||
| Selling, general and administrative | 23,427 | 24,146 | 72,277 | 74,995 | ||||||||||
| Marketing | 13,170 | 9,110 | 33,778 | 28,605 | ||||||||||
| Restructuring | — | 357 | — | 2,104 | ||||||||||
| Research and development | 1,742 | 1,584 | 5,137 | 4,638 | ||||||||||
| Total operating expenses | 38,339 | 35,197 | 111,192 | 110,342 | ||||||||||
| Operating income (loss) | 57 | (7,992 | ) | (5,302 | ) | (40,037 | ) | |||||||
| Interest and other income (expense), net | 127 | (71 | ) | 44 | (269 | ) | ||||||||
| Income (loss) before provision for income taxes | 184 | (8,063 | ) | (5,258 | ) | (40,306 | ) | |||||||
| Income tax provision | 19 | 35 | 56 | 75 | ||||||||||
| Net income (loss) | $ | 165 | $ | (8,098 | ) | $ | (5,314 | ) | $ | (40,381 | ) | |||
| Net income (loss) per share attributable to common stockholders: | ||||||||||||||
| Basic | $ | 0.00 | $ | (0.09 | ) | $ | (0.05 | ) | $ | (0.43 | ) | |||
| Diluted | $ | 0.00 | $ | (0.09 | ) | $ | (0.05 | ) | $ | (0.43 | ) | |||
| Weighted-average shares used in computing net income (loss) per share attributable to common stockholders: | ||||||||||||||
| Basic | 100,690,486 | 95,179,604 | 98,688,196 | 94,137,244 | ||||||||||
| Diluted | 104,588,417 | 95,179,604 | 98,688,196 | 94,137,244 | ||||||||||
| Other comprehensive income (loss) | ||||||||||||||
| Unrealized gain (loss) on short-term investments, net of taxes | — | — | — | 33 | ||||||||||
| Comprehensive income (loss) | $ | 165 | $ | (8,098 | ) | $ | (5,314 | ) | $ | (40,348 | ) | |||
| The Honest Company, Inc. | |||||||
| Condensed Consolidated Balance Sheets | |||||||
| (Unaudited) | |||||||
| September 30, 2024 | December 31, 2023 | ||||||
| Assets | |||||||
| Current assets | |||||||
| Cash and cash equivalents | $ | 53,441 | $ | 32,827 | |||
| Accounts receivable, net | 36,176 | 43,084 | |||||
| Inventories | 74,720 | 73,490 | |||||
| Prepaid expenses and other current assets | 8,965 | 8,371 | |||||
| Total current assets | 173,302 | 157,772 | |||||
| Operating lease right-of-use asset | 18,868 | 23,683 | |||||
| Property and equipment, net | 11,781 | 13,486 | |||||
| Goodwill | 2,230 | 2,230 | |||||
| Intangible assets, net | 253 | 309 | |||||
| Other assets | 2,769 | 4,141 | |||||
| Total assets | $ | 209,203 | $ | 201,621 | |||
| Liabilities and Stockholders’ Equity | |||||||
| Current liabilities | |||||||
| Accounts payable | $ | 24,353 | $ | 22,289 | |||
| Accrued expenses | 33,972 | 32,209 | |||||
| Deferred revenue | 1,650 | 2,212 | |||||
| Total current liabilities | 59,975 | 56,710 | |||||
| Long term liabilities | |||||||
| Operating lease liabilities, net of current portion | 15,360 | 21,738 | |||||
| Other long-term liabilities | — | 34 | |||||
| Total liabilities | 75,335 | 78,482 | |||||
| Commitments and contingencies | |||||||
| Stockholders’ equity | |||||||
| Preferred stock, | — | — | |||||
| Common stock, | 10 | 9 | |||||
| Additional paid-in capital | 618,241 | 602,198 | |||||
| Accumulated deficit | (484,383 | ) | (479,068 | ) | |||
| Total stockholders’ equity | 133,868 | 123,139 | |||||
| Total liabilities and stockholders’ equity | $ | 209,203 | $ | 201,621 | |||
| The Honest Company, Inc. | |||||||
| Condensed Consolidated Statements of Cash Flows | |||||||
| (Unaudited) | |||||||
| For the nine months ended September 30, | |||||||
| 2024 | 2023 | ||||||
| Cash flows from operating activities | |||||||
| Net loss | $ | (5,314 | ) | $ | (40,381 | ) | |
| Adjustments to reconcile net loss to net cash provided by operating activities: | |||||||
| Depreciation and amortization | 2,132 | 2,021 | |||||
| Stock-based compensation | 13,593 | 13,892 | |||||
| Other | 6,395 | 4,680 | |||||
| Changes in assets and liabilities: | |||||||
| Accounts receivable, net | 6,908 | 4,132 | |||||
| Inventories | (1,229 | ) | 36,158 | ||||
| Prepaid expenses and other assets | (1,143 | ) | 7,498 | ||||
| Accounts payable, accrued expenses and other long-term liabilities | 3,637 | (13,875 | ) | ||||
| Deferred revenue | (561 | ) | 1,046 | ||||
| Operating lease liabilities | (6,052 | ) | (5,740 | ) | |||
| Net cash provided by operating activities | 18,366 | 9,431 | |||||
| Cash flows from investing activities | |||||||
| Proceeds from maturities of short-term investments | — | 5,683 | |||||
| Purchases of property and equipment | (184 | ) | (1,588 | ) | |||
| Net cash (used in) provided by investing activities | (184 | ) | 4,095 | ||||
| Cash flows from financing activities | |||||||
| Proceeds from exercise of stock options | 2,364 | 4 | |||||
| Proceeds from 2021 ESPP | 86 | 102 | |||||
| Payments on finance lease liabilities | (18 | ) | (46 | ) | |||
| Net cash provided by financing activities | 2,432 | 60 | |||||
| Net increase in cash and cash equivalents | 20,614 | 13,586 | |||||
| Cash and cash equivalents | |||||||
| Beginning of the period | 32,827 | 9,517 | |||||
| End of the period | $ | 53,441 | $ | 23,103 | |||
| Supplemental disclosures of noncash activities | |||||||
| Capital expenditures included in accounts payable and accrued expenses | $ | 72 | $ | 25 | |||
The Honest Company, Inc.
Use of Non-GAAP Financial Measures
We prepare and present our condensed consolidated financial statements in accordance with GAAP. However, management believes that adjusted EBITDA and adjusted EBITDA margin, non-GAAP financial measures, provides investors with additional useful information in evaluating our performance.
We calculate adjusted EBITDA as net income (loss), adjusted to exclude: (1) interest and other (income) expense, net; (2) income tax provision; (3) depreciation and amortization; (4) stock-based compensation expense, including payroll tax; (5) litigation and settlement fees associated with certain non-ordinary course securities litigation claims; (6) Chief Executive Officer (“CEO”) and founder and former Chief Creative Officer (“CCO”) transition expenses and (7) restructuring expenses in connection with the Transformation Initiative. The Company calculates adjusted EBITDA margin by dividing adjusted EBITDA by revenue.
Adjusted EBITDA and adjusted EBITDA margin are financial measures that are not required by, or presented in accordance with GAAP. We believe that adjusted EBITDA and adjusted EBITDA margin, when taken together with our financial results presented in accordance with GAAP, provides meaningful supplemental information regarding our operating performance and facilitates internal comparisons of our historical operating performance on a more consistent basis by excluding certain items that may not be indicative of our business, results of operations or outlook. In particular, we believe that the use of adjusted EBITDA and adjusted EBITDA margin are helpful to our investors as they are a measure used by management in assessing the health of our business, determining incentive compensation and evaluating our operating performance, as well as for internal planning and forecasting purposes.
Adjusted EBITDA and adjusted EBITDA margin are presented for supplemental informational purposes only, has limitations as an analytical tool and should not be considered in isolation or as a substitute for financial information presented in accordance with GAAP. Some of the limitations of adjusted EBITDA and adjusted EBITDA margin include that (1) it does not reflect capital commitments to be paid in the future; (2) although depreciation and amortization are non-cash charges, the underlying assets may need to be replaced and adjusted EBITDA and adjusted EBITDA margin does not reflect these capital expenditures; (3) it does not consider the impact of stock-based compensation expense; (4) it does not reflect other non-operating expenses, including interest expense; (5) it does not reflect tax payments that may represent a reduction in cash available to us; and (6) does not include certain non-ordinary cash expenses that we do not believe are representative of our business on a steady-state basis, such as CEO and founder/CCO transition expenses and restructuring expenses in connection with the Transformation Initiative. In addition, our use of adjusted EBITDA and adjusted EBITDA margin may not be comparable to similarly titled measures of other companies because they may not calculate adjusted EBITDA and adjusted EBITDA margin in the same manner, limiting its usefulness as a comparative measure. Because of these limitations, when evaluating our performance, you should consider adjusted EBITDA and adjusted EBITDA margin alongside other financial measures, including our revenue, net income (loss) and other results stated in accordance with GAAP.
The following table presents a reconciliation of net income (loss), the most directly comparable financial measure stated in accordance with GAAP, to adjusted EBITDA and adjusted EBITDA margin, for each of the periods presented:
| For the three months ended September 30, | For the nine months ended September 30, | ||||||||||||||
| (In thousands) | 2024 | 2023 | 2024 | 2023 | |||||||||||
| Reconciliation of Net Income (Loss) to Adjusted EBITDA | |||||||||||||||
| Net income (loss) | $ | 165 | $ | (8,098 | ) | $ | (5,314 | ) | $ | (40,381 | ) | ||||
| Interest and other (income) expense, net | (127 | ) | 71 | (44 | ) | 269 | |||||||||
| Income tax provision | 19 | 35 | 56 | 75 | |||||||||||
| Depreciation and amortization | 706 | 681 | 2,132 | 2,021 | |||||||||||
| Stock-based compensation | 2,166 | 3,707 | 13,593 | 13,892 | |||||||||||
| Securities litigation expense | 4,089 | 1,374 | 5,759 | 4,325 | |||||||||||
| CEO and founder/CCO transition expense(1) | — | 808 | 858 | 2,085 | |||||||||||
| Restructuring costs(2) | — | 357 | — | 2,104 | |||||||||||
| Payroll tax expense related to stock-based compensation | 61 | 9 | 277 | 122 | |||||||||||
| Adjusted EBITDA | $ | 7,079 | $ | (1,056 | ) | $ | 17,317 | $ | (15,488 | ) | |||||
| Revenue | $ | 99,237 | $ | 86,169 | $ | 278,503 | $ | 254,101 | |||||||
| Net income margin | 0.2 | % | NM | NM | NM | ||||||||||
| Adjusted EBITDA margin | 7.1 | % | NM | 6.2 | % | NM | |||||||||
__________________
(1) Includes sign-on bonus and relocation costs related to the appointment of our CEO and separation costs related to the termination of our former founder and CCO.
(2) Restructuring costs included employee and asset-related costs and contract terminations.
FAQ
What was The Honest Company's (HNST) revenue in Q3 2024?
Did The Honest Company (HNST) achieve profitability in Q3 2024?
What is The Honest Company's (HNST) updated 2024 guidance?
How much did The Honest Company's (HNST) gross margin improve in Q3 2024?
