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Waldencast plc (NASDAQ: WALD) is a global multi-brand beauty and wellness platform focused on developing, acquiring, accelerating, and scaling the next generation of conscious, purpose-driven brands. The company operates through two main segments: Obagi Skincare and Milk Makeup.
Obagi Skincare is renowned for its medical-grade skincare products that deliver transformative results. Recently, Obagi announced the appointment of Dr. Suzan Obagi as its first-ever Chief Medical Director. Dr. Obagi is a world-renowned dermatologist and cosmetic surgeon, bringing extensive expertise in aesthetic dermatology and skincare to the company. Under her leadership, Obagi aims to advance its product development, research initiatives, and educational programs. Notable products in the Obagi range include the Obagi Nu-Derm® System, Professional-C®, ELASTIderm®, and Obagi Nu-Cil™, addressing skin concerns like hyperpigmentation, fine lines, hydration, brightening, and acne.
Milk Makeup is another flagship brand under Waldencast, known for its innovative and inclusive beauty products. The brand emphasizes creativity and sustainability, appealing to a diverse range of consumers. Recently, Waldencast appointed Mazdack Rassi, Co-Founder of Milk Makeup, as the Global Brand Director. He will lead the newly formed Creative Council, focusing on future trends in beauty, wellness, and culture.
Waldencast's business model is brand-led, ensuring proximity to customers, agility, and responsiveness in the market while maintaining each brand’s unique identity. The company benefits from the operational scale of a multi-brand platform and the expertise in managing global beauty brands at scale. This approach allows Waldencast to mitigate category fluctuations and achieve asset-light efficiency.
Recent achievements include the launch of the Daily Hydro-Drops® Rejuvenating Eye Gel Cream by Obagi, offering a solution for dry skin around the eyes with 24-hour hydration. Furthermore, Waldencast's financial performance has shown promising growth, with a notable increase in gross profit for Q1 2024 compared to the previous year.
For more information, visit the company’s website: Waldencast Investor Relations.
Waldencast reported strong Q3 2024 results with net revenue of $70.2 million, representing a 34.6% comparable growth. Obagi Medical achieved 45.5% growth while Milk Makeup grew 23.5% compared to Q3 2023. Adjusted EBITDA reached $11.4 million, up 134.0% year-over-year, with margin expanding to 16.3%. The company maintained its guidance for full-year comparable net revenue growth above 25.7% with mid-teens adjusted EBITDA margin. As of September 30, 2024, the company had $17.6 million in cash and $154.0 million in net debt.
Waldencast plc (NASDAQ: WALD) has scheduled its Third Quarter Fiscal 2024 earnings conference call and webcast for November 21, 2024, at 8:30am ET. The company will release its financial results on November 20, 2024, after the U.S. market closes. Investors and analysts can participate by dialing (877) 704-4453, or (201) 389-0920 for international calls. The webcast will include a slide presentation and can be accessed at the company's investor relations website, with a replay available for 90 days.
Waldencast plc (NASDAQ: WALD), a global multi-brand beauty and wellness platform, has announced three new appointments to its Board of Directors: Hind Sebti, Kelly Brookie, and Roberto Thompson, effective September 26, 2024. These additions bring extensive experience in beauty, finance, and consumer products sectors. The company's Annual General Meeting is scheduled for October 28, 2024, where shareholders will vote on the renewal of Class I and II directors.
Hind Sebti, co-founder and Chief Growth Officer of Waldencast, brings over 20 years of beauty industry experience. Kelly Brookie, a retired Deloitte Audit Partner, will serve on the Audit and Governance Committee. Roberto Thompson, a former co-founder of 3G Capital, will join the Finance Committee. The Board will now include 11 members, reflecting the company's commitment to maintaining a strong and diverse leadership team.
Obagi Medical, a subsidiary of Waldencast plc (NASDAQ: WALD), has launched two new skincare products: ELASTIDERM® Lift Up & Sculpt Facial Moisturizer and ELASTIDERM® Advanced Filler Concentrate. These innovations expand the ELASTIDERM® collection, offering transformative results for skin appearance and texture.
The Lift Up & Sculpt Facial Moisturizer, priced at $135, uses the patented Bi-Mineral Contour Complex™ to support skin elasticity and target aging signs. It also includes Polyglutamic Acid for intense hydration. The Advanced Filler Concentrate, priced at $115, contains Acetyl Hexapeptide-1 to re-plump and smooth wrinkles.
Both products will be available through professional channels and on Obagi.com from September 23rd. They are designed to complement in-office procedures and offer effective alternatives for those seeking anti-aging solutions outside clinical settings.
Waldencast plc (NASDAQ: WALD) reported strong Q2 2024 financial results, with net revenue of $63.3 million, up 25.7% in comparable growth. Key highlights include:
- Obagi Medical: 30.9% comparable growth
- Milk Makeup: 20.0% comparable growth
- Adjusted EBITDA of $6.3 million, up 64.5% vs Q2 2023
- Adjusted Gross Profit Margin improved to 75.0%, up 650 basis points
The company expects to further accelerate H2 2024 net revenue growth above Q2 rates and achieve a mid-teens Adjusted EBITDA Margin for the full year. Both brands saw strong community engagement and successful product launches, positioning them for continued growth in H2 2024.
Waldencast plc (NASDAQ: WALD), a global multi-brand beauty and wellness platform, has announced its upcoming second quarter and first half fiscal 2024 earnings report and conference call. The company will release its financial results on August 27, 2024, after the U.S. stock market closes. A conference call to discuss the earnings is scheduled for Wednesday, August 28, 2024, at 8:30 AM ET.
Investors and analysts can participate by dialing (877) 704-4453 for domestic calls or (201) 389-0920 for international calls. The call will also be webcast live on the company's investor relations website, with a replay available for 90 days after the event.
Waldencast plc (NASDAQ: WALD), a global multi-brand beauty and wellness platform, has announced its participation in the Canaccord Genuity 44th Annual Growth Conference. The event will take place at the InterContinental Boston Hotel in Boston, Massachusetts. Michel Brousset, Founder and CEO of Waldencast, is scheduled to participate in a fireside chat presentation on Wednesday, August 14, 2024, at 12:30 p.m. Eastern Standard Time.
In addition to the presentation, Brousset will be hosting meetings with investors throughout the day. The fireside chat presentation will be available for live viewing and replay on the Investor Relations page of the company's website at www.ir.waldencast.com.
Waldencast (NASDAQ: WALD), a global beauty and wellness platform, announced its earnings release and conference call schedule for the second and third quarters of fiscal 2024. The company will issue a press release detailing its Q2 financial performance on August 27, 2024, after the U.S. stock market closes. A conference call and webcast will follow on August 28, 2024, at 8:30am ET. Additionally, Q3 financial results will be released on November 20, 2024, with a corresponding call and webcast on November 21, 2024, at 8:30am ET. Details for dialing in and accessing the webcast will be provided on Waldencast's investor relations website approximately two weeks before the earnings dates.
Waldencast (NASDAQ: WALD), a global beauty and wellness platform, announced its participation in two upcoming investor conferences. On June 5, 2024, Waldencast will join the TD Cowen 8th Annual Future of the Consumer Conference in New York City, where management will host a fireside chat at 1:00 p.m. ET and meet investors throughout the day. On June 10, 2024, Waldencast will participate in the Oppenheimer 24th Annual Consumer Growth and E-Commerce Conference, hosting a fireside chat at 9:45 a.m. ET and virtual investor meetings all day. Both presentations will be available for live streaming and replay on Waldencast's Investor Relations page.
Waldencast (NASDAQ: WALD) reported its Q1 2024 financial results, highlighting a strong start to the year with a 21% increase in net revenue to $68.3 million, compared to Q1 2023. The company saw growth in both Obagi Skincare (+20.6% comparable net revenue) and Milk Makeup (+21.5%). Adjusted EBITDA rose by 12.9% to $11.4 million. Gross profit improved to $49.6 million, up from $37.0 million in Q1 2023, driven by higher e-commerce sales and a shift to a direct model with Amazon. However, the company reported a net loss of $3.9 million, a significant improvement from the $13.2 million loss in Q1 2023.
The beauty market context showed Prestige Beauty's growth outpacing Mass Beauty, with a 9% rise in Q1 2024. Waldencast expects full-year comparable net revenues to grow faster than Q1 and anticipates an adjusted EBITDA margin in mid-teens for FY2024. Liquidity stood at $26.8 million in cash and cash equivalents and $150.5 million in net debt as of March 31, 2024.
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