Waldencast Acquisition Corp. ( (WALD) ) has released its Q3 earnings. Here is a breakdown of the information Waldencast Acquisition Corp. presented to its investors.
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Waldencast Acquisition Corp. is a global multi-brand beauty and wellness platform focused on developing, acquiring, and scaling conscious, high-growth brands such as Obagi Medical and Milk Makeup.
The company recently reported its financial results for the third quarter of 2024, highlighting strong performance with a significant increase in net revenue and adjusted EBITDA compared to the same period in 2023.
Waldencast achieved $70.2 million in net revenue for Q3 2024, reflecting a 30.8% increase, and saw a 34.6% growth in comparable net revenue. The company’s adjusted EBITDA rose dramatically by 134%, reaching $11.4 million. Both Obagi Medical and Milk Makeup contributed to this growth, with Obagi Medical’s net revenue increasing by 45.5% and Milk Makeup by 23.5%. Obagi Medical’s success was driven by brand awareness and innovation, while Milk Makeup expanded its distribution and product offerings.
The company’s gross profit improved to $48.1 million, and the adjusted gross profit margin increased, driven by higher-margin digital channels and efficient operations. Despite a net loss, improvements in adjusted gross margin and operational efficiency have strengthened Waldencast’s financial position.
Looking ahead, Waldencast remains committed to achieving full-year comparable net revenue growth above the 25.7% seen in Q2 2024 and maintaining an adjusted EBITDA margin in the mid-teens, leveraging its platform to drive brand growth and profitability.
