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Mar 31, 2021
Honest Co Q1 2021 Earnings Report
Reported double-digit sales growth driven by strategic initiatives and category expansion.
Key Takeaways
The Honest Company reported a strong start to 2021 with a 12% revenue increase to $81.0 million compared to Q1 2020. Growth was driven by Skin and Personal Care products and sanitization products. The company reported a net loss of $4.5 million compared to a net income of $0.6 million in the same period last year.
Revenue increased 12% to $81.0 million compared to the first quarter of 2020.
Skin and Personal Care revenue increased 42% due to marketing innovation and content strategy.
Household and Wellness revenue increased 53% driven by sanitization and disinfecting products.
Digital channel revenue increased 2% and Retail channel revenue increased 25%.
Honest Co
Honest Co
Forward Guidance
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, including statements regarding our future results of operations or financial condition, business strategy and plans and objectives of management for future operations, are forward-looking statements.