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]

Core Viewpoint - Waldencast plc has appointed three new members to its Board of Directors, enhancing its expertise in the beauty and wellness sector, and is preparing for its Annual General Meeting on October 28, 2024 [1][5]. Board Appointments - Hind Sebti, co-founder and Chief Growth Officer of Waldencast, brings over 20 years of experience in managing beauty brands from her time at L'Oréal and Procter & Gamble [2]. - Kelly Brookie, a retired Audit Partner from Deloitte with over 25 years of experience in financial accounting and governance, will serve on the Audit and Governance Committee [3]. - Roberto Thompson Motta, a strategic advisor and former co-founder of 3G Capital, will be a member of the Finance Committee [4]. Annual General Meeting - The Annual General Meeting is scheduled for October 28, 2024, at Michelin House, London, with shareholders eligible to vote based on their registration as of September 24, 2024 [6]. - As of the Record Date, Waldencast had 122,584,658 ordinary shares outstanding, including 111,518,130 Class A and 11,066,528 Class B shares [6]. Company Overview - Waldencast aims to build a leading beauty and wellness platform by developing and scaling purpose-driven brands, leveraging its brand-led business model for market responsiveness [8]. - The company has previously combined with Obagi Medical and Milk Makeup to enhance its operational scale and brand management capabilities [8].

Core Insights - Waldencast plc reported a net revenue of $63.3 million for Q2 2024, reflecting a 28.2% increase compared to Q2 2023, with a comparable growth of 25.7% driven by strong performances from Obagi Medical and Milk Makeup [1][11][17]. Financial Performance - The adjusted EBITDA for Q2 2024 was $6.3 million, representing a 64.5% increase from Q2 2023, with an adjusted EBITDA margin of 10.0% [1][14]. - Gross profit for Q2 2024 was $44.6 million, up from $31.2 million in Q2 2023, leading to an adjusted gross profit margin improvement to 75.0% [12][18]. - The net loss for Q2 2024 was $9.0 million, an improvement from a net loss of $23.5 million in Q2 2023, primarily due to fair value adjustments related to warrants [13][14]. Brand Performance - Obagi Medical achieved net revenue of $34.6 million in Q2 2024, a 35.9% increase year-over-year, with a comparable growth of 30.9% [19]. - Milk Makeup reported net revenue of $28.7 million, reflecting a 20.0% growth compared to Q2 2023, despite facing stock shortages [20]. - Both brands demonstrated significant growth in Earned Media Value (EMV), with Milk Makeup increasing by 100% and Obagi Medical by 165% year-over-year [3]. Product Innovations - Milk Makeup launched several new products, including the Hydro Grip + Glow Primer, aimed at attracting new consumers [6]. - Obagi Medical introduced two new products in its ELASTIderm® franchise, which are clinically proven to improve skin appearance [7][8]. Market Outlook - The company anticipates further acceleration in net revenue comparable growth for H2 2024, expecting adjusted EBITDA for the second half to exceed that of the first half [17]. - Waldencast is focused on increasing investments in brand development and community engagement to drive long-term growth [5].

Core Insights - Waldencast plc is set to report its second quarter and first half fiscal 2024 earnings on August 27, 2024, after the U.S. stock market closes [1] - A conference call to discuss the earnings results will take place on August 28, 2024, at 8:30 am ET [1] Company Overview - Waldencast aims to build a global 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 maintaining each brand's unique identity [3] - The initial step in achieving its vision was the business combination with Obagi Skincare and Milk Makeup, allowing its brands to benefit from operational scale and expertise in managing global beauty brands [3]

Core Insights - The Zacks Cosmetics industry is currently facing challenges due to inflationary pressures and a decline in discretionary spending, which has negatively impacted consumer demand across the sector [1][4]. Industry Overview - The Zacks Cosmetics industry encompasses companies that manufacture, distribute, and market beauty and personal care products, including skincare, fragrance, makeup, and hair care [3]. - Companies in this industry utilize various sales channels, including sales representatives, retailers, drug stores, pharmacies, and e-commerce platforms [3]. Current Trends - Inflationary pressures are increasing costs for raw materials, energy, labor, and packaging, leading to squeezed profit margins for cosmetic companies [4]. - The demand for cosmetic products is being affected by elevated living costs and interest rates, prompting consumers to cut back on discretionary spending [4]. - Innovation and digitization are crucial for growth, with companies focusing on unique products and enhancing e-commerce capabilities [6]. Market Performance - The Zacks Cosmetics industry has underperformed compared to the S&P 500 and the broader Consumer Staples sector, with a decline of 40.5% over the past year [12]. - The industry's current forward Price-to-Earnings (P/E) ratio is 20.49X, slightly lower than the S&P 500's 20.71X [13]. Company Highlights - **Coty Inc. (COTY)**: Focuses on sustainable growth through core categories like skincare and e-commerce, with a Zacks Rank of 3. The consensus estimate for EPS is 44 cents, with shares down 21.3% in the past six months [14][15]. - **Inter Parfums, Inc. (IPAR)**: Capitalizes on the fragrance market with a Zacks Rank of 3. The consensus estimate for EPS is $5.15, with shares down 13.1% in the past six months [16][17]. - **Olaplex Holdings, Inc. (OLPX)**: Positioned for growth through innovative products and strong brand equity, with a Zacks Rank of 3. The consensus estimate for EPS is 14 cents, with shares down 13.1% in the past six months [19][20]. - **Waldencast plc (WALD)**: Focuses on clean beauty products and innovation, with a Zacks Rank of 3. The consensus estimate indicates a loss of 9 cents, with shares down 62.9% in the past six months [21].

Core Viewpoint - Waldencast plc, a global multi-brand beauty and wellness platform, is participating in the Canaccord Genuity 44th Annual Growth Conference, highlighting its commitment to investor engagement and brand development [1][2]. Group 1: Company Participation - Michel Brousset, Founder and CEO of Waldencast, will engage in a fireside chat presentation on August 14, 2024, at 12:30 p.m. Eastern Standard Time, and will hold investor meetings throughout the day [2]. - The fireside chat will be available for live viewing and replay on the company's Investor Relations page [2]. Group 2: Company Overview - Waldencast aims 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 in achieving its 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].

Waldencast plc (NASDAQ:WALD) Q1 2024 Earnings Conference Call May 22, 2024 8:30 AM ET Company Participants Allison Malkin - Investor Relations, ICR Michel Brousset - Founder & Chief Executive Officer Manuel Manfredi - Chief Financial Officer Conference Call Participants Jonna Kim - TD Cowen Dana Telsey - Telsey Advisory Group Linda Bolton Weiser - D.A. Davidson Operator Greetings. Welcome to Waldencast's First Quarter 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. A ...