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Dec 31, 2022
Honest Co Q4 2022 Earnings Report
Reported fourth quarter and full year financial results.
Key Takeaways
The Honest Company's Q4 2022 revenue increased by 2% to $81.9 million, driven by strong retail consumption, distribution gains, and price increases, which was partially offset by a decline in Digital revenue. Net loss for the quarter was $12.6 million, compared to a net loss of $9.0 million in the same quarter of the previous year.
Revenue growth was 2% in the quarter, driven by strong retail consumption, distribution gains, and price increases, partially offset by a decline in Digital revenue
Consumption of Honest diapers, wipes, skin, and personal care increased by 15% versus prior year
Gross margin of 27.5% reflected a 250 basis point decline versus the fourth quarter of 2021, reflecting significantly higher product and fulfillment costs
Overtook #1 natural/lifestyle diaper brand position at Kroger in fourth quarter of 2022
Honest Co
Honest Co
Forward Guidance
Without taking into consideration the margin improvement roadmap that we that are currently formulating, we anticipate our full year 2023 revenue and Adjusted EBITDA would be in-line with our Fiscal Year 2022 results.