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Jun 30, 2024
Honest Co Q2 2024 Earnings Report
Achieved record revenue and improved profitability.
Key Takeaways
The Honest Company reported strong second-quarter results, achieving record revenue of $93 million, up 10% year-over-year. Gross margin improved significantly to 38%, a 1,120 basis point increase. The company raised its full-year 2024 revenue and adjusted EBITDA outlook.
Achieved record revenue of $93 million, a 10% increase compared to Q2 2023.
Gross margin improved to 38.3%, up 1,120 basis points from 27.1% in Q2 2023.
Net loss was reduced to $4 million, compared to a net loss of $13 million in Q2 2023.
Adjusted EBITDA was positive $8 million, compared to negative $4 million in Q2 2023.
Forward Guidance
The company is increasing its full year 2024 outlook for both revenue and Adjusted EBITDA.
Positive Outlook
- Revenue is expected to grow by mid-to-high single digits compared to full year 2023.
- Adjusted EBITDA is projected to be in the range of $15 million to $18 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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