Olaplex (US:OLPX) Globenewswire·2025-03-04 11:45Core Insights - Olaplex Holdings, Inc. reported financial results for Q4 and fiscal year 2024, indicating a challenging year with significant declines in net sales and profitability [1][2][3]. Financial Performance - Q4 2024 net sales decreased by 9.8% to $100.7 million compared to Q4 2023 [4][5]. - Gross profit for Q4 2024 was $66.8 million, down 13.0% from $76.8 million in Q4 2023, resulting in a gross profit margin of 66.3% [4][5]. - Adjusted net income for Q4 2024 was $7.6 million, a decrease of 65.8% from $22.3 million in Q4 2023 [4][5]. - For the fiscal year 2024, net sales were $422.7 million, down 7.8% from $458.3 million in 2023 [6][5]. - The company reported a net income of $19.5 million for the fiscal year 2024, a decline of 68.3% compared to $61.6 million in 2023 [6][5]. Sales Channel Performance - Specialty Retail sales increased by 5.7% to $28.8 million in Q4 2024, while Professional sales decreased by 27.1% to $31.0 million [5]. - Direct-To-Consumer sales fell by 2.5% to $40.9 million in Q4 2024 [5]. - For the fiscal year 2024, Specialty Retail sales increased by 5.4% to $142.3 million, while Professional sales decreased by 19.3% to $145.3 million [5]. Balance Sheet Highlights - As of December 31, 2024, the company had cash and cash equivalents of $586.0 million, up from $466.4 million a year earlier [7]. - Inventory at the end of Q4 2024 was $75.2 million, down from $95.9 million at the end of 2023 [7]. Fiscal Year 2025 Guidance - The company expects fiscal year 2025 net sales to be between $410 million and $431 million, reflecting a cautious outlook for the first quarter [8][9]. - Adjusted gross profit margin for fiscal year 2025 is projected to be between 70.5% and 71.5% [9]. Company Overview - Olaplex is a health and beauty company known for its innovative hair care products, leveraging its Complete Bond Technology™ to enhance hair health [12].