Core Insights - Waldencast achieved significant growth in Q4 2024, with net revenue of $72.1 million, representing a 30.8% increase year-over-year, and a 29.4% increase in comparable net revenue growth [5][12] - The company reported an adjusted EBITDA of $11.2 million, doubling from Q4 2023, reflecting strong operational performance and effective cost management [8][16] - Obagi Medical was recognized as the fastest-growing professional skincare brand in the US for 2024, driven by increased brand awareness and successful product innovations [3][13] Financial Performance - For the year ended December 31, 2024, Waldencast's net revenue reached $273.9 million, a 27.5% increase in comparable net revenue growth compared to 2023 [15][19] - The gross profit for FY 2024 was $191.7 million, with an adjusted gross profit margin of 74.3%, improving by 530 basis points from the previous year [15][19] - The net loss for FY 2024 improved to $48.6 million from $106.0 million in FY 2023, primarily due to operational growth and reduced non-recurring costs [16][19] Brand Highlights - Obagi Medical's Q4 2024 net revenue was $42.2 million, up from $32.5 million in Q4 2023, with a comparable net revenue growth of 27.7% [13][19] - Milk Makeup's Q4 2024 net revenue increased by 31.9% to $29.9 million, supported by initial shipments to Ulta Beauty and growing consumer demand [20][19] - Both brands have introduced innovative products, contributing to their growth and market presence [3][20] Strategic Initiatives - Waldencast secured a new $205 million credit facility to enhance financial flexibility and extend debt maturity, supporting its strategic priorities [10][2] - The company plans to continue expanding its distribution footprint, including the launch of Milk Makeup in over 600 Ulta Beauty locations in spring 2025 [3][18] - Waldencast aims for mid-teens net revenue growth in FY 2025, with expectations for further expansion of adjusted EBITDA margins [17][18]

Group 1 - Waldencast plc will release its Fourth Quarter and Fiscal Year 2024 results on March 18, 2025, after the U.S. market closes [1] - A conference call to discuss the results is scheduled for March 19, 2025, at 8:30 am ET, with participation details provided for investors and analysts [2] - The company aims to build a global beauty and wellness platform by developing and scaling purpose-driven brands, having completed a business combination with Obagi Skincare and Milk Makeup in July 2022 [3] Group 2 - Waldencast's business model focuses on brand-led operations, ensuring customer proximity and market responsiveness while maintaining brand distinctiveness [3] - The platform offers operational scale, expertise in managing global beauty brands, and a balanced portfolio to mitigate category fluctuations [3]

Core Insights - Waldencast plc is participating in the TD Cowen 2 Annual Glowing Ahead: Beauty & Wellness Summit on February 26, 2025, in New York [1] - CEO Michel Brousset will engage in a fireside chat presentation and host investor meetings during the summit [2] - Waldencast aims to build a global beauty and wellness platform by developing and scaling purpose-driven brands, with a focus on operational efficiency and market responsiveness [3] Company Overview - Waldencast was founded by Michel Brousset and Hind Sebti, with a vision to create a best-in-class beauty and wellness operating platform [3] - The company’s strategy includes acquiring and accelerating high-growth brands while maintaining their unique identities [3] - The initial step in this strategy was the business combination with Obagi Skincare and Milk Makeup, which allows brands to leverage operational scale and expertise [3]

Core Viewpoint - Obagi Medical has launched new skincare products, the Super Antioxidant Serum and Moisture Restore Hydration Replenishing Cream, aimed at addressing skin discoloration, oxidative stress, and hydration for all skin types [1][5]. Product Details - The Super Antioxidant Serum is designed to combat oxidative stress and improve skin brightness, containing encapsulated Silymarin and stabilized Vitamin C [3][5]. - The Moisture Restore Hydration Replenishing Cream provides multi-layered hydration using both low and high-molecular-weight Hyaluronic Acids [4][5]. Clinical Testing and Results - Clinical tests showed that 94% of subjects felt their skin was refreshed and smoother after one application, and 97% observed an improvement in overall skin appearance after two weeks [5][6]. Expert Involvement - Dr. Suzan Obagi, a leading dermatologist and Chief Medical Director at Obagi, developed these products based on her extensive research and experience treating various skin concerns, particularly hyperpigmentation and sensitive skin [2][3]. Company Background - Obagi Medical is recognized for its advanced skincare solutions, with a legacy of 35 years in the industry, initially focusing on hyperpigmentation treatment [7].

Core Viewpoint - Waldencast plc is set to announce its financial performance for the fourth quarter and full fiscal year 2024, along with the first three quarters of fiscal year 2025, through a series of press releases and conference calls [1][2][3][4][5]. Financial Performance Announcements - The company will release its fourth quarter and full fiscal year 2024 financial results after the U.S. stock market closes on March 18, 2025, followed by a conference call on March 19, 2025 [2]. - For the first quarter of fiscal 2025, the financial results will be released after the market closes on May 13, 2025, with a conference call scheduled for May 14, 2025 [3]. - The second quarter results will be announced after the market closes on August 18, 2025, with a call on August 19, 2025 [4]. - The third quarter results will be released after the market closes on November 11, 2025, with a conference call on November 12, 2025 [5]. Company Overview - Waldencast aims to build a leading global beauty and wellness platform by developing and scaling purpose-driven brands, emphasizing a brand-led business model that ensures customer proximity and market responsiveness [6]. - The company’s strategy includes leveraging operational scale, expertise in managing global beauty brands, and maintaining a balanced portfolio to mitigate category fluctuations [6].

Core Insights - Waldencast plc is participating in the 2025 International Master Course on Aging Science (IMCAS) World Congress in Paris from January 30 to February 1, 2025, highlighting its commitment to the beauty and wellness industry [1][2] Company Overview - Waldencast aims to build a global best-in-class beauty and wellness platform by developing, acquiring, and scaling purpose-driven brands, with a focus on maintaining each brand's distinct identity [4] - The company has already taken significant steps by combining with Obagi Skincare and Milk Makeup, which will allow its brands to benefit from operational scale and market responsiveness [4] Industry Participation - The IMCAS World Congress is a key event for dermatology, plastic surgery, and aging science, bringing together industry leaders to discuss innovations and business opportunities [2] - Michel Brousset, CEO of Waldencast, will participate in a capital markets roundtable to discuss the future of medical-grade skincare and the beauty industry [2] Expert Contributions - Dr. Suzan Obagi, Chief Medical Director at Obagi Medical, will lead sessions on enhancing skincare results and addressing complications related to energy-based devices, as well as a symposium on hyperpigmentation [3]

Core Viewpoint - Waldencast plc, a global multi-brand beauty and wellness platform, is set to participate in investor meetings and host a presentation at the ICR Conference 2025 on January 13, 2025 [1][2]. Company Overview - Waldencast was founded by Michel Brousset and Hind Sebti, aiming to create a best-in-class beauty and wellness operating platform by developing, acquiring, and scaling purpose-driven brands [3]. - The company's brand-led business model focuses on customer proximity, business agility, and market responsiveness while preserving each brand's unique identity [3]. - The initial step towards this vision was the business combination with Obagi Skincare and Milk Makeup, which allows its brands to leverage operational scale and expertise in managing global beauty brands [3].

Financial Data and Key Metrics Changes - Comparable net revenue growth was 34.6%, up from 21% in Q1 and 25.7% in Q2 [10] - Adjusted EBITDA rose 134% to 16.3% of net revenue, expanding 720 basis points from the prior year [12] - Adjusted gross profit margin increased by 400 basis points to 73.2% in Q3 2024 [35] - For the first nine months of 2024, net revenue reached $201.8 million, a 26.9% increase in comparable growth [37] Business Line Data and Key Metrics Changes - Milk Makeup generated net revenue of $31.5 million, a 23.5% increase year-over-year [45] - Obagi Medical recorded net revenue of $38.7 million, representing a 45.5% growth from the prior year [59] - Adjusted gross profit for Milk Makeup rose 25.2% to $65.6 million, with a gross profit margin of 69.2% [49] - Adjusted gross profit for Obagi Medical was $85.3 million, with a gross profit margin of 79.7% [64] Market Data and Key Metrics Changes - Milk Makeup saw revenue growth of 22.3% in North America and 20.4% internationally [50] - Obagi Medical experienced a 42.1% increase in North America and a 32.8% increase internationally [65] - The beauty market continues to normalize, with the prestige market growing by 7% year-to-date [84] Company Strategy and Development Direction - The company aims to build a global best-in-class beauty and wellness platform through acquisitions and brand development [12][22] - Focus on operational scale and efficiency to support growth and EBITDA margin expansion [14][16] - Plans to expand into new regions and categories while leveraging the Waldencast platform for brand support [23][27] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for continued growth, emphasizing the importance of innovation and brand awareness [78] - The company does not foresee significant impacts from tariffs on gross margins due to sourcing strategies [80] - Management expects to maintain strong performance into Q4 2024 and reaffirmed guidance for the full year [40] Other Important Information - The company ended the first nine months of 2024 with cash and cash equivalents of $17.6 million and $30 million available on a revolving credit facility [43] - The company is currently managing non-recurring costs associated with an ongoing regulatory investigation [42] Q&A Session Summary Question: Future innovation and growth strategy - Management is optimistic about next year, focusing on brand awareness, innovation, and expansion [78] Question: Impact of tariffs on gross margins - Management does not expect tariffs to have a substantial impact on the business due to sourcing strategies [80] Question: Trends in Milk's gross margin and beauty industry performance - Management noted temporary phasing issues with off-price sales and highlighted the resilience of the beauty market [84] Question: In-stock levels and penetration into dermatologists' offices - Management indicated improved in-stock levels for Obagi and ongoing efforts to increase penetration in physician offices [87] Question: Holiday promotional levels and retailer inventory caution - Management plans to maintain consistent holiday promotional strategies while observing cautious inventory management among retailers [92] Question: Innovation pipeline for Milk and near-term focus areas - Management emphasized the importance of innovation and plans to expand into new subcategories within makeup [96] Question: Performance of the physician dispense channel - Management noted strong demand for science-based medical skincare and ongoing growth in the physician dispense channel [99] Question: M&A landscape and opportunities with indie brands - Management acknowledged the beauty industry's acquisitive nature and the presence of attractive targets for potential acquisitions [101] Question: Brand awareness and distribution expansion for Milk - Management highlighted growth in community engagement and ongoing evaluation of distribution opportunities [106]

Core Insights - Waldencast plc reported a net revenue of $70.2 million for Q3 2024, reflecting a 34.6% increase in comparable net revenue growth compared to Q3 2023 [1][4] - The company achieved an adjusted EBITDA of $11.4 million, representing a 134.0% increase year-over-year [1][6] - Both Obagi Medical and Milk Makeup brands showed strong performance, with Obagi Medical achieving a 45.5% growth and Milk Makeup a 23.5% growth compared to Q3 2023 [1][12][13] Financial Performance - Q3 2024 net revenue increased by 30.8% on a net revenue basis compared to Q3 2023 [4] - Gross profit for Q3 2024 was $48.1 million, up from $35.9 million in Q3 2023, with an adjusted gross profit margin of 73.2%, a 400-basis point increase [5][11] - The net loss improved significantly from $36.5 million in Q3 2023 to $13.1 million in Q3 2024, driven by better adjusted gross margins [5][30] Brand Performance - Obagi Medical's net revenue reached $38.7 million, with a comparable net revenue growth of 45.5% and adjusted EBITDA of $7.5 million, a 129.7% increase from Q3 2023 [12] - Milk Makeup's net revenue was $31.5 million, up 23.5%, with adjusted EBITDA doubling from Q3 2023 to $8.5 million [13] - Both brands benefited from increased consumer demand, innovation, and improved stock availability [2][12][13] Outlook - The company expects to achieve full-year comparable net revenue growth above the 25.7% growth achieved in Q2 2024, with adjusted EBITDA margins in the mid-teens [9][2] - Waldencast aims to leverage its multi-brand platform to enhance profitability and drive growth [2][35] Liquidity and Capital Structure - As of September 30, 2024, Waldencast had $17.6 million in cash and cash equivalents and $154.0 million in net debt, with $30 million remaining undrawn on its revolving credit facility [7][33] - The company maintained strong cash conversion supported by effective working capital management [7] Shareholder Information - As of November 15, 2024, Waldencast had 122,850,904 ordinary shares outstanding, with a decrease in fully diluted shares from 129,695,296 at the end of 2023 [8]

NEW YORK, Oct. 07, 2024 (GLOBE NEWSWIRE) -- Waldencast plc (NASDAQ: WALD) ("Waldencast" or the "Company"), a global multi-brand beauty and wellness platform, announced today that Hind Sebti, Kelly Brookie and Roberto Thompson have been appointed to its board of Directors (the "Board"), effective September 26, 2024. These executives bring extensive professional experience further enhancing the breadth of talent and expertise possessed by the Board. Ms. Brookie will replace Sarah Brown who has informed the Bo ...