Core Insights - ODDITY Tech Ltd. reported strong financial results for Q2 2025, exceeding guidance across revenue, profit, and earnings per share, indicating robust business growth and profitability [2][4][6] - The company is expanding into new markets, particularly in healthcare with the upcoming launch of Brand 3, which focuses on medical-grade products [3][4] - ODDITY raised its full-year financial outlook for 2025, reflecting confidence in continued growth driven by a backlog of repeat orders [4][9] Financial Performance - Q2 2025 net revenue reached $241 million, a 25% increase year-over-year from $193 million in Q2 2024 [4][6] - Adjusted EBITDA for Q2 2025 was $70 million, up 12% from $62 million in Q2 2024, with an adjusted EBITDA margin of 28.8% [4][6] - Net income for Q2 2025 was $49 million, compared to $45 million in Q2 2024, with a net income margin of 20.4% [4][6] Financial Outlook - The updated full-year 2025 outlook includes net revenue between $799 million and $804 million, representing year-over-year growth of 23% to 24% [9][10] - For Q3 2025, ODDITY expects net revenue between $144 million and $146 million, with a gross margin of approximately 68% [11][9] - Adjusted diluted EPS for the full year is projected to be between $2.06 and $2.09, an increase from the previous outlook [9][10] Strategic Initiatives - The company is progressing towards the formal launch of Brand 3 in Q4 2025 and Brand 4 in 2026, indicating a focus on innovation and market expansion [5][4] - ODDITY is also developing its ODDITY LABS molecule discovery platform, which may enhance its product offerings in the future [5][4] - The company completed its first exchangeable note offering, upsized to $600 million, strengthening its cash position [5][4]

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Financial Data and Key Metrics Changes - Amer Sports achieved 23% sales growth in Q4 2024 and 18% revenue growth for the full year, reaching $5.2 billion, with adjusted operating margin expanding by 130 basis points to 11.1% [8][39][40] - Adjusted net income for Q4 was $90 million, compared to an adjusted net loss of $31 million in the prior year, with adjusted diluted earnings per share at $0.17 compared to a loss of $0.08 per share last year [49][50] Business Line Data and Key Metrics Changes - Technical Apparel revenues increased 33% to $745 million, driven by Arc'teryx, with a 44% growth in direct-to-consumer (DTC) sales [50][52] - Outdoor Performance segment revenues grew 13% to $594 million, primarily due to strong performance in Salomon footwear and apparel [58] - Ball & Racquet segment revenue increased 22% to $296 million, driven by strong trends in racquet sports and softgoods [58][60] Market Data and Key Metrics Changes - Greater China and APAC regions showed strong growth, with Greater China increasing by 54% and APAC by 52% in Q4 [42][43] - North America accelerated to 15% growth, while EMEA grew by 8% [42][43] Company Strategy and Development Direction - The company is focused on expanding its portfolio of premium outdoor and sports brands, with a particular emphasis on the growth potential of Arc'teryx and Salomon sneakers [10][11] - Plans to open 25 to 30 new Arc'teryx stores in 2025, with a bullish outlook for store counts in China [15][75] - The strategy includes enhancing the footwear segment and increasing women's product offerings to achieve a balanced gender mix in sales [96][99] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's positioning within the global sports and outdoor market, citing strong brand momentum and growth potential [9][10] - The company anticipates reported group revenue growth between 13% and 15% for 2025, despite expected foreign exchange headwinds [65][66] Other Important Information - Adjusted gross margin increased by 370 basis points to 56.4% in Q4, driven by favorable product and channel mix [46] - The company paid down its entire $1.2 billion term loans before year-end, ending Q4 with $600 million of net debt [61][62] Q&A Session Summary Question: Update on long-term store targets for Arc'teryx - Management plans to continue opening 25 to 30 stores annually, with potential for around 200 stores in North America and 150 to 200 in Mainland China [75] Question: Drivers of comp acceleration at Arc'teryx - Comp drivers included broad-based strength in traffic and conversion, with strong momentum continuing into Q1 [80][82] Question: Investments in SG&A for sustaining revenue growth - Investments will focus on new store build-out, consumer connection, and infrastructure improvements, with SG&A expected to remain relatively flat in 2025 [90] Question: Growth expectations for footwear and women's segments - Footwear penetration is expected to exceed 20% in the coming years, while women's sales approached 40% in Q4 [96][99] Question: Regional performance expectations for 2025 - Management expects continued positive growth across all regions, with a solid plan to enhance softgoods and footwear penetration in EMEA [106][107] Question: Future finance cost and tax rate reduction opportunities - The company aims to further reduce finance costs and drive the effective tax rate towards the statutory rate of close to 27% [111] Question: Gross margin expansion drivers - The primary driver of gross margin expansion is the growth of Arc'teryx, with additional contributions from footwear and softgoods segments [125][127]