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.
TipRanks Cyber Monday Sale
- Claim 60% off TipRanks Premium for data-backed insights and research tools you need to invest with confidence.
- Subscribe to TipRanks' Smart Investor Picks and see our data in action through our high-performing model portfolio - now also 60% off
ODDITY Tech Ltd. is a consumer tech company that leverages data science and AI to create digital-first brands in the beauty and wellness sectors, with a focus on disrupting traditional offline markets. The company, headquartered in New York City with R&D operations in Tel Aviv and a biotech lab in Boston, owns brands such as IL MAKIAGE, SpoiledChild, and METHODIQ.
In its latest earnings report, ODDITY Tech Ltd. announced record third-quarter results, with net revenue reaching $148 million, marking a 24% increase from the previous year. The company also reported a nine-month net revenue of $657 million, up 26% year-over-year, and a third-quarter adjusted EBITDA of $29 million. These results have led the company to raise its full-year financial outlook.
Key highlights from the report include a successful launch of the new brand METHODIQ, which aims to revolutionize medical care with advanced treatments and technology. The company also noted double-digit online revenue growth for its existing brands IL MAKIAGE and SpoiledChild, and continued development of its ODDITY LABS molecule discovery platform. ODDITY maintains a strong cash position with $793 million in cash, cash equivalents, and investments.
Looking ahead, ODDITY has increased its full-year revenue guidance to between $806 million and $809 million, with expectations of a gross margin of approximately 72.5%. The company anticipates adjusted EBITDA to be between $161 million and $163 million, reflecting its confidence in sustaining growth and innovation in the coming months.