ODDITY Tech Ltd. Class A ( (ODD) ) has released its Q3 earnings. Here is a breakdown of the information ODDITY Tech Ltd. Class A presented to its investors.
ODDITY Tech Ltd. is a consumer technology company that develops digital-first brands in the beauty and wellness sectors, utilizing data science and AI to meet consumer demands through an online platform.
In its latest earnings report, ODDITY Tech announced record results for the third quarter and the first nine months of 2024, highlighted by substantial year-over-year growth in net revenue, adjusted EBITDA, and net income, with raised financial outlooks for the full year.
Key financial metrics include a 26% increase in third-quarter net revenue to $119 million, a 362% rise in net income to $18 million, and a 27% increase in nine-month net revenue reaching $523 million. The company also reported a strong balance sheet with $248 million in cash and no debt, alongside strategic share repurchases. Additionally, ODDITY is advancing its brand and platform development, contributing to its market share gains and robust cash flow.
Looking ahead, ODDITY Tech remains optimistic about exceeding its long-term growth targets with planned investments in future growth initiatives. The company anticipates continued high revenue growth and strong financial performance, reflecting confidence in its business model and market strategy.
