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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 plc (NASDAQ: WALD) reported strong financial performance for the second quarter and first half of 2022. Total net sales reached $138.2 million, a 24.6% increase from the previous year. Q2 net sales were $77.1 million, up 23.8%. The gross margin improved to 75.1%, a rise of 578 basis points. Pro Forma Adjusted EBITDA was $21.9 million in Q2, marking a 38.6% increase. Waldencast reaffirmed its guidance for fiscal 2022, anticipating net sales of $256.3 million.
Waldencast plc (NASDAQ: WALD), a beauty and wellness platform, has scheduled a conference call on August 11, 2022, at 8:00 AM ET to discuss its second quarter and first half 2022 earnings results. The earnings press release will be available before the call. Interested investors can join by dialing (855) 327-6837 or (631) 891-4304 for international participants. The call will be webcast live and accessible for 90 days post-event. Waldencast aims to build a best-in-class beauty platform through strategic brand management and operational efficiencies.
Waldencast plc has officially begun trading on the Nasdaq under the ticker symbol WALD, after completing a merger with Obagi Skincare and Milk Makeup on July 27, 2022. The combined entity aims to create a leading beauty and wellness platform focused on developing purpose-driven brands. CEO Michel Brousset emphasized the company's commitment to empowering brands like Obagi and Milk Makeup. The leadership will remain intact for both skincare brands, with each dedicated to enhancing their market presence while aligning with Waldencast's vision for operational excellence.
Waldencast plc has announced the completion of its merger with Obagi Skincare and Milk Makeup, set to trade on Nasdaq under the ticker symbol WALD beginning July 28, 2022. The company aims to create a leading beauty and wellness platform, enhancing the growth of its brands through operational support while preserving their unique identities. CEO Michel Brousset emphasized the merger as a pivotal step towards building a conscious brand portfolio, while Executive Chairman Felipe Dutra expressed confidence in the group's capabilities to navigate the beauty market.
Waldencast Acquisition Corp. (NASDAQ: WALD) announced that its shareholders overwhelmingly approved the business combination with Obagi Skincare and Milk Makeup, with approximately 98% support. The merger is expected to close around July 27, 2022, pending all closing conditions. Post-merger, the combined entity will be named Waldencast plc and trade under the ticker 'WALD' on Nasdaq. This merger marks a strategic move for Waldencast to establish a multi-brand beauty platform, integrating well-known skin and makeup brands.
Waldencast Acquisition Corp. (NASDAQ: WALD) has announced an extraordinary general meeting for its shareholders on July 25, 2022, to vote on the proposed business combination with Obagi Skincare and Milk Makeup. The SEC has declared effective the registration statement related to this deal. If approved, the merger will position the combined entity on Nasdaq under the symbol WALD. Shareholders are encouraged to vote 'FOR' all proposals and to review the definitive proxy statement thoroughly before the meeting.
Waldencast Acquisition Corp. (NASDAQ: WALD) announced a new Credit Agreement on June 24, 2022, through its subsidiary, Waldencast Finco Limited. The agreement secures proceeds of up to approximately $1.02 billion, contingent on shareholder actions. Key components include a $175 million term loan and a revolving loan of up to $50 million. The financing will primarily be used for acquisitions of Milk Makeup and Obagi Skin Care, repayment of existing debts, and general corporate purposes, aimed at leveraging Waldencast's growth and operational strength.
Waldencast Acquisition Corp. (NASDAQ: WALD) announced its participation in the Cowen 6th Annual Future of the Consumer Conference on May 25, 2022. CEO Michel Brousset will engage in a fireside chat at 2:45 PM ET, with the event accessible via Waldencast's Investor Relations page. The company aims to develop a leading beauty and wellness platform through strategic acquisitions, including its proposed combination with Obagi Global Holdings and Milk Makeup. Waldencast focuses on conscious brands aligning with social responsibility and sustainability.
Waldencast Acquisition Corp. (NASDAQ: WALD) hosted an Analyst Day on April 27, 2022, highlighting its mission to create a premier beauty and wellness platform by merging with Obagi Global Holdings and Milk Makeup. The company focuses on brands that fulfill consumer demands for social responsibility and sustainability. Waldencast filed a registration statement with the SEC in February 2022, outlining the proposed transactions and relevant financial details. Investors are encouraged to review the proxy statement for important information regarding the mergers and associated risks.
Milk Makeup has appointed Nilofer Vahora as its new Chief Marketing Officer (CMO). Vahora brings 14 years of experience from her previous role at Shiseido. This strategic hire follows Waldencast Acquisition Corp.'s $1.2 billion business combination with Milk Makeup and Obagi, aimed at creating a global beauty platform. Both the CEO and co-founder of Milk Makeup expressed confidence in Vahora's ability to drive growth while staying true to the brand's values of clean, vegan, and cruelty-free products.
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