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Dec 31, 2024
Waldencast Q4 2024 Earnings Report
Waldencast reported robust Q4 2024 results with significant revenue growth, margin expansion, and improved profitability.
Key Takeaways
Waldencast achieved net revenue of $72.1 million in Q4 2024, reflecting a 30.8% increase compared to Q4 2023. The company reported a net loss of $22.6 million, driven by operational investments and non-recurring costs, while Adjusted EBITDA doubled year-over-year to $11.2 million. Both Obagi Medical and Milk Makeup delivered strong growth and margin improvements.
Net revenue grew 30.8% year-over-year to $72.1 million.
Adjusted EBITDA more than doubled to $11.2 million.
Obagi Medical net revenue reached $42.2 million with 27.7% comparable growth.
Milk Makeup net revenue rose to $29.9 million, up 31.9% year-over-year.
Waldencast
Waldencast
Waldencast Revenue by Segment
Revenue by Segment
Obagi Medical Revenue
CapyFin.comMilk Makeup Revenue
CapyFin.com Forward Guidance
Waldencast expects mid-teens net revenue growth and further Adjusted EBITDA margin expansion for fiscal year 2025, driven by innovation and international expansion.
Positive Outlook
- Expected mid-teens net revenue growth for 2025.
- Further Adjusted EBITDA margin expansion into mid-to-high teens.
- Launch of Milk Makeup in over 600 Ulta Beauty locations in March 2025.
- Obagi Medical continues international expansion and product innovation.
- Strong pipeline of product launches and marketing investments supporting growth.
Challenges Ahead
- Ongoing non-recurring legal and advisory expenses impacting net income.
- Potential margin pressure from inventory liquidations in Obagi Medical.
- Competitive pressures in professional skincare and cosmetics markets.
- Macroeconomic conditions could affect consumer spending and demand.
- Continued reliance on key distribution channels and retail partnerships.
Revenue & Expenses
Visualization of income flow from segment revenue to net income