Waldencast Reports Strong Revenue Growth and Improved Profitability in 2024

Waldencast plc has reported its financial results for the three and nine months ending September 30, 2024, showing significant improvements in net revenue and adjusted EBITDA. The company achieved a net revenue of $38.69 million for the three months ending September 30, 2024, compared to $28.17 million in the same period of 2023. For the nine months ending September 30, 2024, net revenue was $107.05 million, up from $85.18 million in 2023.

The gross profit for the three months ending September 30, 2024, was $27.14 million, an increase from $18.07 million in the same period of 2023. For the nine months ending September 30, 2024, gross profit was $76.71 million, compared to $53.41 million in 2023. The gross profit margin improved to 70.1% for the three months and 71.7% for the nine months ending September 30, 2024.

Adjusted gross profit for the three months ending September 30, 2024, was $30.41 million, up from $19.30 million in 2023. For the nine months ending September 30, 2024, adjusted gross profit was $85.33 million, compared to $57.75 million in 2023. The adjusted gross margin was 78.6% for the three months and 79.7% for the nine months ending September 30, 2024.

The company reported a net loss of $7.98 million for the three months ending September 30, 2024, showing an improvement from a net loss of $11.65 million in the same period of 2023. For the nine months ending September 30, 2024, the net loss was $19.41 million, compared to $23.91 million in 2023.

Adjusted EBITDA for the three months ending September 30, 2024, was $7.48 million, up from $3.26 million in 2023. For the nine months ending September 30, 2024, adjusted EBITDA was $20.68 million, compared to $12.88 million in 2023. The adjusted EBITDA margin improved to 19.3% for both the three and nine months ending September 30, 2024.

Waldencast plc's financial performance indicates a positive trend in revenue growth and profitability improvements. The increase in adjusted EBITDA and gross profit margins suggests enhanced operational efficiency and cost management.