Oddity Tech Ltd. - ODD STOCK NEWS

ODDITY Tech has announced a $150 million share buyback program, set to expire on June 30, 2027. The company has over $250 million in cash and investments and no debt, with an additional $100 million credit facility. Updated Q2 2024 guidance indicates revenue at the top end of the range with net revenue projected at $189 million, a 25% year-over-year growth. Gross margin is expected at 71%, Adjusted EBITDA at $60 million, and Adjusted Diluted EPS at $0.69.

ODDITY Tech (NASDAQ: ODD) announced a share buyback program, authorizing the repurchase of up to $150 million of its Class A Ordinary Shares, effective until June 30, 2027. The company holds over $250 million in cash, cash equivalents, and investments, with no financial debt and an additional $100 million in an undrawn credit facility. Due to the approval of the Buyback Plan, ODDITY has updated its Q2 2024 guidance: net revenue is projected to be approximately $189 million, a 25% year-over-year growth. The company also forecasts adjusted EBITDA of about $60 million and adjusted diluted EPS of $0.69, exceeding prior estimates.

ODDITY Tech (NASDAQ: ODD) has responded to a short seller report by NINGI Research, published on May 21, 2024. The company disputes the report's allegations, particularly the assertion that its Israeli brick-and-mortar business significantly contributes to its revenue and EBITDA. ODDITY clarified that this segment represents less than 5% of its Net Revenue and EBITDA in FY2023 and Q1 2024. The company also highlighted that its Israeli operations are fully audited by Ernst & Young, and any small-claims lawsuits mentioned in the report are minor, totaling less than $100,000. ODDITY emphasized its commitment to using technology to enhance customer experience and drive profitability, with the majority of its revenue coming from online sales. The company serves around 50 million users through its AI-driven platform.

ODDITY Tech (NASDAQ: ODD) reported record first quarter results for 2024, with net revenue reaching $212 million, a 28% increase year-over-year. Net income rose to $33 million, a 68% increase, and adjusted net income reached $38 million, an 82% increase. The company also achieved a record adjusted EBITDA of $48 million and free cash flow of $79 million. ODDITY exceeded financial guidance, showing excellent growth at key brands, and strengthening its balance sheet with $252 million in cash and no debt.

ODDITY Tech (NASDAQ: ODD) will announce its first quarter 2024 financial results on May 7, 2024, followed by a conference call on May 8, 2024. Investors can participate in the call by dialing 1-877-407-9208 (US) or 1-201-493-6784 (international) and access the webcast on ODDITY's website. A recording and replay will be available, with the replay access code being 13745430.

ODDITY Tech announced the pricing of a secondary public offering of 4,782,609 Class A ordinary shares by a Selling Stockholder at $43.50 per share, with an option for additional shares. The offering is led by top financial firms and is expected to close on March 19, 2024.

ODDITY Tech Ltd. announced a secondary public offering of 4,000,000 Class A ordinary shares by a fund managed by L Catterton, with an option for additional shares. ODDITY will not receive proceeds from the sale. Major investment banks are managing the offering.

ODDITY Tech Ltd. (NASDAQ: ODD) has filed its Annual Report on Form 20-F for the year ended December 31, 2023. Shareholders can access the report on the company's website or the SEC's website.

ODDITY Tech Ltd. (NASDAQ: ODD) reported record full-year net revenue of $509 million, up 57%, with net income up 169% to $59 million and adjusted net income up 181% to $77 million. The company also achieved record adjusted EBITDA of $107 million, up 172%, and generated $85 million in free cash flow. ODDITY exceeded guidance on all metrics, crossed key financial milestones, and established ODDITY LABS as a leading molecule discovery platform. The company's strong financial performance in Q4 2023 and FY2023 positions it well for future growth initiatives in 2024, with a positive outlook for net revenue, gross margins, adjusted EBITDA, and adjusted diluted EPS.