OLAPLEX Reports Third Quarter 2022 Results

Rhea-AI Summary

Olaplex Holdings reported a 9.2% increase in net sales for Q3 2022, reaching $176.5 million, despite a 4.3% decline in U.S. sales. International sales soared 27.8%. The company’s net income rose 7.4%, while adjusted net income decreased 1.6%. Diluted EPS increased to $0.09. However, the gross profit margin fell to 73.6%. For the nine months ending September 30, 2022, net sales surged 32.8% to $573.6 million. The company reaffirmed its fiscal 2022 guidance, projecting net sales between $704 million and $711 million.

Positive

• Net sales for Q3 2022 increased 9.2% to $176.5 million.
• Net income rose 7.4% year-over-year.
• Fiscal 2022 net sales guidance reaffirmed at $704-$711 million, projecting an 18% increase.

Negative

• U.S. net sales decreased 4.3% compared to Q3 2021.
• Gross profit margin dropped from 78.9% to 73.6%.

Net Sales grew 9.2% in the third quarter 2022

SANTA BARBARA, Calif., Nov. 09, 2022 (GLOBE NEWSWIRE) -- Olaplex Holdings, Inc. (NASDAQ: OLPX) ("OLAPLEX" or the "Company"), today announced financial results for the third quarter and nine months ended September 30, 2022.

For the third quarter of 2022 compared to the third quarter 2021:

• Net sales increased 9.2% to $176.5 million;
  • Net sales decreased 4.3% in the United States and increased 27.8% internationally
  • By channel:
    • Specialty Retail increased 60.1% to $74.2 million;
    • Professional declined 16.0% to $63.0 million;
    • Direct-To-Consumer declined 2.6% to $39.3 million;
• Net income increased 7.4% and adjusted net income decreased 1.6%;
• Diluted EPS was $0.09 for the third quarter 2022, as compared to $0.08 for the third quarter 2021;
• Adjusted Diluted EPS was $0.11 for the third quarter 2022, as compared to $0.11 for the third quarter 2021

JuE Wong, OLAPLEX’s President and Chief Executive Officer, commented: "Our third quarter performance was in line with the preliminary estimates provided in our business update in October 2022. In response to the moderating sales growth trends, we are taking actions that we believe will strengthen our forecasting capabilities and accelerate demand for Olaplex products. The successful execution of these initiatives is expected to drive new customer acquisition and maintain our strong customer retention rates. More broadly, we believe that the fundamental competitive advantages of our business remain intact and that we are well-positioned to capitalize on a broad and exciting range of future growth opportunities."

Third Quarter Highlights

(Dollars in $000’s, except per share data)
Quarter to Date		Q3 2022				Q3 2021				% Change
Net Sales		$	176,454			$	161,624			9.2%
Gross Profit		$	129,828			$	127,482			1.8%
Gross Profit Margin			73.6	%			78.9	%
Adjusted Gross Profit		$	132,604			$	129,162			2.7%
Adjusted Gross Profit Margin			75.1	%			79.9	%
SG&A		$	30,807			$	30,257			1.8%
Adjusted SG&A		$	28,397			$	22,194			27.9%
Net Income		$	60,763			$	56,591			7.4%
Adjusted Net Income		$	73,272			$	74,434			(1.6)%
Adjusted EBITDA		$	102,037			$	106,842			(4.5)%
Adjusted EBITDA Margin			57.8	%			66.1	%
Diluted EPS		$	0.09			$	0.08			12.5%
Adjusted Diluted EPS		$	0.11			$	0.11			—%
Weighted Average Diluted Shares Outstanding			691,257,654				690,711,782

Nine Months Highlights

(Dollars in $000’s, except per share data)
Year to Date		Nine Months Year to Date 2022				Nine Months Year to Date 2021				% Change
Net Sales		$	573,553			$	431,867			32.8%
Gross Profit		$	427,463			$	341,609			25.1%
Gross Profit Margin			74.5	%			79.1	%
Adjusted Gross Profit		$	438,512			$	348,008			26.0%
Adjusted Gross Profit Margin			76.5	%			80.6	%
SG&A		$	79,232			$	75,323			5.2%
Adjusted SG&A		$	73,399			$	49,572			48.1%
Net Income		$	210,439			$	151,473			38.9%
Adjusted Net Income		$	263,451			$	204,257			29.0%
Adjusted EBITDA		$	361,494			$	298,106			21.3%
Adjusted EBITDA Margin			63.0	%			69.0	%
Diluted EPS		$	0.30			$	0.22			36.4%
Adjusted Diluted EPS		$	0.38			$	0.30			26.7%
Weighted Average Diluted Shares Outstanding			691,585,787				689,108,272

Adjusted gross profit, adjusted gross profit margin, adjusted SG&A, adjusted net income, adjusted diluted EPS, adjusted EBITDA and adjusted EBITDA margin are measures that are not calculated or presented in accordance with generally accepted accounting principles in the United States ("GAAP"). For more information about how we use these non-GAAP financial measures in our business, the limitations of these measures, and a reconciliation of these measures to the most directly comparable GAAP measures, please see "Disclosure Regarding Non-GAAP Measures" and the reconciliation tables that accompany this release.

Balance Sheet

As of September 30, 2022, the Company had $249.4 million of cash and cash equivalents, compared to $186.4 million as of December 31, 2021. Inventory at the end of the third quarter 2022 was $151.3 million, compared to $98.4 million at the end of December 2021. Long-term debt, net of current portion was $655.7 million as of September 30, 2022, compared to $738.1 million as of the end of December 2021.

Fiscal Year 2022 Guidance

The Company re-affirmed its updated guidance for fiscal year 2022 on net sales, adjusted net income and adjusted EBITDA, as initially disclosed by the Company on October 18, 2022 and as set forth below.

For Fiscal 2022:
(Dollars in millions)	2022	2021 Actual		% change (based on mid-point)
Net Sales	$704 - $711	$598		+18%
Adjusted Net Income*	$303 - $307	$276		+11%
Adjusted EBITDA*	$425 - $431	$409		+5%

*Adjusted net income and Adjusted EBITDA are non-GAAP measures. See "Disclosure Regarding Non-GAAP Financial Measures" for additional information.

Assuming fiscal 2022 sales at the midpoint of the range reflected in the net sales guidance above, the Company’s implied expectation for net sales growth by channel and geography in the three months ending December 31, 2022 (“fourth quarter”) as compared to the fourth quarter of 2021 remains consistent with its disclosure on October 18, 2022. Further, the Company expects the inventory rebalancing across certain of its customers, as noted in that October 18, 2022 disclosure, to normalize by the end of the first quarter 2023.

Webcast and Conference Call Information

The company plans to host an investor conference call and webcast to review third quarter 2022 financial results at 9:00am ET/6:00am PT on November 9, 2022. The webcast can be accessed at https://ir.olaplex.com/events-presentations. After registering, an email will be sent including dial-in details and a unique conference call pin required to join the live call. A replay of the webcast will remain available on the website for 90 days.

About OLAPLEX

OLAPLEX is an innovative, science-enabled, technology-driven beauty company with a mission to improve the hair health of its consumers. A revolutionary brand, OLAPLEX paved the way for a new category of hair care called "bond-building," the process of protecting, strengthening and rebuilding broken bonds in the hair during and after hair services. The brand’s products have an active, patent-protected ingredient that works on a molecular level to protect and repair hair from damage. OLAPLEX’s award-winning products are sold through an expanding omnichannel model serving the professional, specialty retail, and direct-to-consumer channels.

Cautionary Note Regarding Forward-Looking Statements

This press release includes forward-looking statements and information relating to the Company that are based on the beliefs of management as well as assumptions made by, and information currently available to, the Company. These forward-looking statements generally can be identified by the use of words such as "may," "will," “could," "should," "intend," "potential," "continue," "anticipate," "believe," "estimate," "expect," "plan," "target," "predict," "project," "seek" and similar expressions as they relate to us. These forward-looking statements address various matters including: the Company’s financial position and operating results, including financial guidance for fiscal year 2022; inventory rebalancing across certain of its customers and the timing related thereto; business plans and objectives, including the Company's plan to respond to moderating sales growth trends; the Company's initiatives to drive customer acquisition and maintain customer retention; and growth and expansion opportunities and the growth and resiliency of the global premium hair care industry. These statements reflect management’s current views with respect to future events, are not guarantees of future performance and involve risks and uncertainties that are difficult to predict. Each forward-looking statement contained in this press release is subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statement. Applicable risks and uncertainties include, among others: the Company’s ability to execute on its growth strategies and expansion opportunities; increased competition causing the Company to reduce the prices of its products or to increase significantly its marketing efforts in order to avoid losing market share; impacts on the Company’s business due to the sensitivity of its business to unfavorable economic and business conditions; the Company’s dependence on a limited number of customers for a significant portion of its net sales; the Company’s ability to effectively market and maintain a positive brand image and expand its brand awareness; the Company’s ability to accurately forecast consumer demand for its products; the Company's ability to attract new customers and encourage consumer spending across its product portfolio; changes in consumer preferences or changes in demand for hair care products or other products the Company may develop; the Company's ability to maintain favorable relationships with suppliers and manage its supply chain, including obtaining and maintaining shipping distribution and raw materials at favorable pricing; the Company’s relationships with and the performance of distributors and retailers who sell its products to hair care professionals and other customers; the impact of material cost increases and other inflation and the Company’s ability to pass on such increases to customers; the Company’s ability to develop, manufacture and effectively and profitably market and sell future products; the Company’s ability to anticipate and effectively respond to market trends, including with respect to new product introductions; the Company’s ability to successfully implement new or additional marketing efforts; the Company’s ability to attract and retain senior management and other qualified personnel; regulatory changes and developments affecting the Company's current and future products; the Company’s existing and any future indebtedness, including the Company’s ability to comply with affirmative and negative covenants under its credit agreement to which it will remain subject to until maturity, and the Company’s ability to obtain additional financing on favorable terms or at all; increasing cost of debt and the Company’s ability to service its existing indebtedness and obtain additional capital to finance operations and its growth opportunities; impacts on the Company’s business from political, regulatory, economic, trade, and other risks associated with operating internationally including volatility in currency exchange rates, and imposition of tariffs; the Company’s ability to establish and maintain intellectual property protection for its products, as well as the Company’s ability to operate its business without infringing, misappropriating or otherwise violating the intellectual property rights of others; the impact of changes in laws, regulations and administrative policy, including those that limit U.S. tax benefits or impact trade agreements and tariffs; the outcome of litigation and governmental proceedings; impacts on the Company’s business from the COVID-19 pandemic; and the other risks identified under the heading "Risk Factors" in Company’s Annual Report on Form 10-K for the year ended December 31, 2021, filed with the Securities and Exchange Commission (the "SEC") on March 8, 2022, as well as the other information the Company files with the SEC. The Company cautions investors not to place considerable reliance on the forward-looking statements contained in this press release. You are encouraged to read the Company’s filings with the SEC, available at www.sec.gov, for a discussion of these and other risks and uncertainties. The forward-looking statements in this press release speak only as of the date hereof, and the Company undertakes no obligation to update or revise any of these statements, except as required by applicable law. The Company’s business is subject to substantial risks and uncertainties, including those referenced above. Investors, potential investors, and others should give careful consideration to these risks and uncertainties.

Disclosure Regarding Non-GAAP Financial Measures

In addition to the financial measures presented in this release in accordance GAAP, the Company has included certain non-GAAP financial measures, including adjusted EBITDA, adjusted EBITDA margin, adjusted net income, adjusted gross profit, adjusted gross profit margin, adjusted SG&A and adjusted diluted EPS. Management believes these non-GAAP financial measures, when taken together with the Company’s financial results presented in accordance with GAAP, provide meaningful supplemental information regarding the Company’s operating performance and facilitate internal comparisons of its historical operating performance on a more consistent basis by excluding certain items that may not be indicative of its business, results of operations or outlook. In particular, management believes that the use of these non-GAAP measures may be helpful to investors as they are measures used by management in assessing the health of the Company’s business, determining incentive compensation and evaluating its operating performance, as well as for internal planning and forecasting purposes.

The Company calculates adjusted EBITDA as net income, adjusted to exclude: (1) interest expense, net; (2) income tax provision; (3) depreciation and amortization; (4) share-based compensation expense; (5) non-ordinary inventory adjustments; (6) non-ordinary costs and fees; (7) non-ordinary legal costs; (8) non-capitalizable IPO and strategic transition costs; and (9) as applicable, Tax Receivable Agreement liability adjustments. The Company calculates adjusted EBITDA margin by dividing adjusted EBITDA by net sales. The Company calculates adjusted net income as net income, adjusted to exclude: (1) amortization of intangible assets (excluding software); (2) non-ordinary costs and fees; (3) non-ordinary legal costs; (4) non-ordinary inventory adjustments; (5) share-based compensation expense; (6) non-capitalizable IPO and strategic transition costs; (7) Tax Receivable Agreement liability adjustment; and (8) tax effect of non-GAAP adjustments. The Company calculates adjusted basic and diluted EPS as adjusted net income divided by weighted average basic and diluted shares outstanding respectively. The Company calculates adjusted gross profit as gross profit, adjusted to exclude: (1) non-ordinary inventory adjustments and (2) amortization of patented formulations pertaining to the acquisition of the Olaplex, LLC business in 2020 by certain investment funds affiliated with Advent International Corporation and other investors (the "Acquisition"). The Company calculates adjusted gross profit margin by dividing adjusted gross profit by net sales. The Company calculates adjusted SG&A as SG&A, adjusted to exclude: (1) share-based compensation expense; (2) non-ordinary legal costs, (3) non-capitalizable IPO and strategic transition costs; and (4) non-ordinary costs and fees.

Please refer to "Reconciliation of Non-GAAP Financial Measures to GAAP Equivalents" located in the financial supplement in this release for a reconciliation of these non-GAAP metrics to their most directly comparable financial measure stated in accordance with GAAP.

This release includes forward-looking guidance for adjusted EBITDA and adjusted net income. The Company is not able to provide, without unreasonable effort, a reconciliation of the guidance for adjusted EBITDA and adjusted net income to the most directly comparable GAAP measure because the Company does not currently have sufficient data to accurately estimate the variables and individual adjustments included in the most directly comparable GAAP measure that would be necessary for such reconciliations, including (a) income tax related accruals in respect of certain one-time items, (b) costs related to potential debt or equity transactions, and (c) other non-recurring expenses that cannot reasonably be estimated in advance. These adjustments are inherently variable and uncertain and depend on various factors that are beyond the Company's control and as a result it is also unable to predict their probable significance. Therefore, because management cannot estimate on a forward-looking basis without unreasonable effort the impact these variables and individual adjustments will have on its reported results in accordance with GAAP, it is unable to provide a reconciliation of the non-GAAP measures included in its fiscal 2022 guidance.

CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands, except shares)
(Unaudited)

	September 30, 2022			December 31, 2021
Assets
Current Assets:
Cash and cash equivalents	$	249,399		$	186,388
Accounts receivable, net of allowance of $14,976 and $8,231		93,286			40,779
Inventory		151,283			98,399
Other current assets		3,277			9,621
Total current assets		497,245			335,187
Property and equipment, net		614			747
Intangible assets, net		1,007,267			1,043,344
Goodwill		168,300			168,300
Deferred taxes, net		12,876			8,344
Other assets		10,498			4,500
Total assets	$	1,696,800		$	1,560,422
Liabilities and stockholders’ equity
Current Liabilities:
Accounts payable	$	23,126		$	19,167
Accrued expenses and other current liabilities		26,031			17,332
Accrued sales and income taxes		16,096			12,144
Current portion of long-term debt		6,750			20,112
Current portion of Tax Receivable Agreement		16,557			4,157
Total current liabilities		88,560			72,912
Related Party payable pursuant to Tax Receivable Agreement		208,582			225,122
Long-term debt		655,662			738,090
Total liabilities		952,804			1,036,124
Contingencies
Stockholders’ equity
Common stock, $0.001 par value per share; 2,000,000,000 shares authorized, 649,112,823 and 648,794,041 shares issued and outstanding as of September 30, 2022 and December 31, 2021, respectively		649			648
Preferred stock, $0.001 par value per share; 25,000,000 shares authorized and no shares issued and outstanding		—			—
Additional paid-in capital		310,193			302,866
Accumulated other comprehensive income		1,931			—
Retained earnings		431,223			220,784
Total stockholders’ equity		743,996			524,298
Total liabilities and stockholders’ equity	$	1,696,800		$	1,560,422

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME
(amounts in thousands, except per share and share data)
(Unaudited)

	Three Months Ended September 30,								Nine Months Ended September 30,
		2022				2021				2022				2021
Net sales	$	176,454			$	161,624			$	573,553			$	431,867
Cost of sales:
Cost of product (excluding amortization)		45,484				32,462				140,999				83,859
Amortization of patented formulations		1,142				1,680				5,091				6,399
Total cost of sales		46,626				34,142				146,090				90,258
Gross profit		129,828				127,482				427,463				341,609
Operating expenses:
Selling, general, and administrative		30,807				30,257				79,232				75,323
Amortization of other intangible assets		10,329				10,182				30,890				30,547
Total operating expenses		41,136				40,439				110,122				105,870
Operating income		88,692				87,043				317,341				235,739
Interest expense		(10,499	)			(14,987	)			(30,653	)			(46,052	)
Other expense, net
Loss on extinguishment of debt		—				—				(18,803	)			—
Other expense		(2,251	)			(213	)			(3,852	)			(417	)
Total other expense, net		(2,251	)			(213	)			(22,655	)			(417	)
Income before provision for income taxes		75,942				71,843				264,033				189,270
Income tax provision		15,179				15,252				53,594				37,797
Net income	$	60,763			$	56,591			$	210,439			$	151,473
Net income per share:
Basic	$	0.09			$	0.09			$	0.32			$	0.23
Diluted	$	0.09			$	0.08			$	0.30			$	0.22
Weighted average common shares outstanding:
Basic		649,099,780				648,124,642				648,963,625				648,082,081
Diluted		691,257,654				690,711,782				691,585,787				689,108,272
Other comprehensive income:
Unrealized gain on derivatives, net of income tax effect	$	1,931			$	—			$	1,931			$	—
Total other comprehensive income:		1,931				—				1,931				—
Total comprehensive income:	$	62,694			$	56,591			$	212,370			$	151,473

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(amounts in thousands)
(Unaudited)

	Nine Months Ended September 30,
		2022				2021
Cash flows from operating activities
Net income	$	210,439			$	151,473
Adjustments to reconcile net income to net cash provided by operating activities:		(28,632	)			(21,148	)
Net cash provided by operating activities		181,807				130,325
Net cash used in investing activities		(1,712	)			(5,359	)
Net cash used in financing activities		(117,084	)			(14,451	)
Net increase in cash and cash equivalents		63,011				110,515
Cash and cash equivalents - beginning of period		186,388				10,964
Cash and cash equivalents - end of period	$	249,399			$	121,479

The following tables present a reconciliation of net income, SG&A and gross profit, as the most directly comparable financial measure stated in accordance with U.S. GAAP, to adjusted EBITDA, adjusted EBITDA margin, adjusted gross profit, adjusted gross profit margin, adjusted SG&A, adjusted net income and adjusted net income per share for each of the periods presented.

	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
(in thousands)		2022				2021				2022				2021
Reconciliation of Net Income to Adjusted EBITDA
Net income	$	60,763			$	56,591			$	210,439			$	151,473
Income tax provision		15,179				15,252				53,594				37,797
Depreciation and amortization of intangible assets		11,552				11,949				36,214				37,033
Interest expense		10,499				14,987				30,653				46,052
Loss on extinguishment of debt(1)		—				—				18,803				—
Share-based compensation		2,031				1,945				5,454				3,119
Inventory write off and disposal(2)		—				—				4,324				—
Labelling stock write off and disposal(3)		1,634				—				1,634				—
Distribution start-up costs(4)		379				—				379				—
Non-recurring litigation costs(5)		—				—				—				14,250
Non-capitalizable IPO and strategic transition costs (6)		—				6,118				—				8,382
Adjusted EBITDA	$	102,037			$	106,842			$	361,494			$	298,106
Adjusted EBITDA margin		57.8	%			66.1	%			63.0	%			69.0	%

	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
(in thousands)		2022				2021				2022				2021
Reconciliation of Gross Profit to Adjusted Gross Profit
Gross profit	$	129,828			$	127,482			$	427,463			$	341,609
Inventory write off and disposal(2)		—				—				4,324				—
Amortization of patented formulations		1,142				1,680				5,091				6,399
Labelling stock write off and disposal(3)		1,634				—				1,634				—
Adjusted gross profit	$	132,604			$	129,162			$	438,512			$	348,008
Adjusted gross profit margin		75.1	%			79.9	%			76.5	%			80.6	%

		For the Three Months Ended September 30,								For the Nine Months Ended September 30,
(in thousands)			2022				2021				2022				2021
Reconciliation of SG&A to Adjusted SG&A
SG&A		$	30,807			$	30,257			$	79,232			$	75,323
Share-based compensation			(2,031	)			(1,945	)			(5,454	)			(3,119	)
Distribution start-up costs(4)			(379	)			—				(379	)			—
Non-recurring litigation costs(5)			—				—				—				(14,250	)
Non-capitalizable IPO and strategic transition costs (6)			—				(6,118	)			—				(8,382	)
Adjusted SG&A		$	28,397			$	22,194			$	73,399			$	49,572

	For the Three Months Ended September 30,								For the Nine Months Ended September 30,
(in thousands, except per share data)		2022				2021				2022				2021
Reconciliation of Net Income to Adjusted Net Income
Net income	$	60,763			$	56,591			$	210,439			$	151,473
Amortization of intangible assets (excluding software)		11,325				11,862				35,639				36,946
Loss on extinguishment of debt(1)		—				—				18,803				—
Share-based compensation		2,031				1,945				5,454				3,119
Inventory write off and disposal(2)		—				—				4,324				—
Labelling stock write off and disposal(3)		1,634				—				1,634				—
Distribution start-up costs(4)		379				—				379				—
Non-recurring litigation costs(5)		—				—				—				14,250
Non-capitalizable IPO and strategic transition costs (6)		—				6,118				—				8,382
Tax effect of adjustments		(2,860	)			(2,082	)			(13,221	)			(9,913	)
Adjusted net income	$	73,272			$	74,434			$	263,451			$	204,257
Adjusted net income per share:
Basic	$	0.11			$	0.11			$	0.41			$	0.32
Diluted	$	0.11			$	0.11			$	0.38			$	0.30

⁽¹⁾   On February 23, 2022, the Company refinanced its existing secured credit facility with a new credit agreement comprised of a $675 million senior secured term loan facility and a $150 million senior secured revolving credit facility. This refinancing resulted in recognition of loss on extinguishment of debt of $18.8 million which is comprised of $11.0 million in deferred financing fee write off, and $7.8 million of prepayment fees for the previously existing credit facility. Loss on extinguishment of debt is included as non-ordinary costs and fees in the reconciliations above.

⁽²⁾   The inventory write-off and disposal costs relate to unused stock of a product that the Company reformulated in June 2021 as a result of regulation changes in the E.U. In the interest of having a single formulation for sale worldwide, the Company reformulated on a global basis and is now disposing of unused stock.

⁽³⁾   Labelling stock write-off and disposal costs relate to disposal of unused product labels that the Company was required to update as a result of regulation changes in the E.U that become effective in the first quarter of 2023.

⁽⁴⁾   The distribution start-up costs relate to one-time charges associated with the set-up of a new third party logistics provider.

⁽⁵⁾   Represents costs incurred related to the payment to LIQWD, Inc., a predecessor entity to the Company substantially all of whose assets and liabilities were purchased as part of the Acquisition ("LIQWD"), of certain amounts due in connection with the resolution of certain litigation and contingency matters involving LIQWD, which amounts were required to be paid pursuant to the purchase agreement for the Acquisition.

⁽⁶⁾   Represents non-capitalizable professional fees and executive severance incurred in connection with the Company's initial public offering and the Company’s public company transition.

Contacts:

ICR, Inc.

For Investors:
Allison Malkin
Annie Erner

For Media:
Alecia Pulman
Brittany Fraser

Olaplex@icrinc.com
203.682.8220

FAQ

What were Olaplex's net sales in Q3 2022?

Olaplex's net sales in Q3 2022 were $176.5 million, reflecting a 9.2% increase from the previous year.

How did Olaplex's net income change in Q3 2022?

Olaplex's net income increased by 7.4% in Q3 2022.

What are Olaplex's fiscal 2022 sales projections?

Olaplex projects fiscal 2022 net sales between $704 million and $711 million.

What was the diluted EPS for Olaplex in Q3 2022?

The diluted EPS for Olaplex in Q3 2022 was $0.09.

How did the gross profit margin of Olaplex change?

Olaplex's gross profit margin decreased to 73.6% in Q3 2022, down from 78.9% in Q3 2021.