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The latest update is out from Waldencast ( (WALD) ).
On March 13, 2026, Waldencast reported flat full-year 2025 net revenue of $272.1 million and Adjusted EBITDA of $16.1 million, with Q4 2025 revenue steady at $72.0 million and Adjusted EBITDA of $6.6 million. The quarter saw a net loss of $33.5 million, mainly from refinancing costs, while margin pressure stemmed from inventory adjustments at Obagi Medical and higher promotional activity at Milk Makeup.
Obagi Medical delivered strong underlying growth in 2025, driven by international demand, U.S. e‑commerce strength and preparation for its entry into medical aesthetics, including FDA approval of Obagi saypha MagIQ filler and the March 2026 launch of its injectables platform. Milk Makeup expanded U.S. distribution via Ulta Beauty and Amazon Premium Beauty and grew U.S. consumption ahead of the prestige makeup market, but softer international sales led to lower annual net revenue and prompted leadership changes and a renewed focus on innovation.
To strengthen its balance sheet and sharpen its strategy, Waldencast sold the Obagi Japan trademark rights in November 2025 for $82.5 million, using most of the proceeds to repay debt, and refinanced its credit facilities, materially reducing leverage. The board is also conducting a broad strategic review with Lazard as advisor, and, amid this process and ongoing transformation, the company declined to issue a fiscal 2026 outlook, leaving investors awaiting clarity on potential transactions or further portfolio moves.
The most recent analyst rating on (WALD) stock is a Sell with a $2.00 price target. To see the full list of analyst forecasts on Waldencast stock, see the WALD Stock Forecast page.
Spark’s Take on WALD Stock
According to Spark, TipRanks’ AI Analyst, WALD is a Neutral.
The score is held back primarily by ongoing losses and negative operating/free cash flow despite strong revenue growth and a healthy gross margin. Technicals also weigh heavily, with the stock trading below all major moving averages and weak momentum signals. Valuation is difficult to support due to a negative P/E and no dividend yield data.
To see Spark’s full report on WALD stock, click here.
More about Waldencast
Waldencast plc is a global multi-brand beauty and wellness platform listed on NASDAQ, focused on premium skincare and makeup. Its key brands include Obagi Medical, a dermatology-focused skincare and emerging medical aesthetics business, and Milk Makeup, a prestige cosmetics brand with growing U.S. distribution and exposure to international markets. The company targets the global beauty market through both retail and direct-to-consumer channels.
Average Trading Volume: 65,923
Technical Sentiment Signal: Sell
Current Market Cap: $187.4M
Find detailed analytics on WALD stock on TipRanks’ Stock Analysis page.