Waldencast reports Q1 adjusted EBITDA $4.4M

Reports Q1 revenue $65.4M, consensus $68.01M. The company said, “Despite a broader slowdown in the prestige beauty category in the U.S., Milk Makeup ended the quarter on a very strong note, fueled by the highly successful launch of Hydro Grip Gel Tint, which sold out shortly after release. We are also very pleased with the brand’s entry into Ulta Beauty, with retail sales beginning in late February. Both initiatives exceeded expectations and contributed to the brand’s high single-digit growth in U.S. retail sales. This solid domestic performance was offset by the contraction of international sales, which faced a difficult comparison against last year’s Q1 distribution expansion, as well as inventory reduction by retail partners. In Q1, Milk Makeup partnered with Nike Running in North America for the Nike After Dark Tour in Los Angeles, bringing sport and self-expression together to keep expanding reach and deepen community engagement.”