Waldencast (WALD)
NASDAQ:WALD
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Waldencast
(NASDAQ:WALD)
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Rating:53Neutral
Price Target:
$1.50
▲(44.23% Upside)
Action:Reiterated
Date:06/02/26
The score is held back primarily by weak financial performance—persistent losses and negative operating/free cash flow—despite a comparatively stable balance sheet. Technicals are the main offset, showing strong upward momentum above key moving averages with a positive MACD. Valuation is neutral-to-uncertain due to negative earnings and no dividend.
Positive Factors
Manageable leverage and sizable equity base
The company's balance sheet shows manageable leverage with debt-to-equity near the high-20% range and declining total debt in 2025. A sizable equity base provides financial flexibility for refinancing, strategic investments, or acquisition funding over the medium term.
Negative Factors
Persistent negative operating and free cash flow
The business has not converted earnings into positive cash generation for multiple years, leaving it dependent on external financing or asset disposals. Continued negative OCF/FCF elevates funding risk and constrains reinvestment in innovation or marketing necessary for durable growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Manageable leverage and sizable equity base
The company's balance sheet shows manageable leverage with debt-to-equity near the high-20% range and declining total debt in 2025. A sizable equity base provides financial flexibility for refinancing, strategic investments, or acquisition funding over the medium term.
Read all positive factors
Waldencast (WALD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$212.91M
Dividend YieldN/A
Average Volume (3M)145.38K
Price to Earnings (P/E)―
Beta (1Y)0.70
Revenue Growth-0.66%
EPS Growth-426.80%
CountryUS
Employees335
SectorConsumer Defensive
Sector Strength42
IndustrySoftware - Application
Share Statistics
EPS (TTM)-2.02
Shares Outstanding118,239,890
10 Day Avg. Volume133,325
30 Day Avg. Volume145,381
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.46
Price to Sales (P/S)0.79
P/FCF Ratio-13.20
Enterprise Value/Market Cap1.23
Enterprise Value/Revenue0.97
Enterprise Value/Gross Profit2.12
Enterprise Value/Ebitda-1.72
Forecast
1Y Price Target
$2.50Price Target Upside140.38% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering3
EPS Forecast (FY)-0.61
Revenue Forecast (FY)$291.91M
Waldencast Business Overview & Revenue Model
Company Description
Waldencast plc operates as a specialized skincare enterprise, delivering sophisticated treatments aimed at improving various dermatological conditions. Its product offerings are crafted to minimize the visual impact of early aging, skin damage, un...
How the Company Makes Money
Waldencast makes money primarily by selling branded beauty and personal care products to consumers and to retail/wholesale partners. Key revenue streams include (1) direct-to-consumer sales through brand e-commerce sites where the company captures...
Waldencast Earnings Call Summary
Earnings Call Date:May 13, 2025
(Q1-2025)
| % Change Since: |
Next Earnings Date:Aug 06, 2026
Earnings Call Sentiment Neutral
The earnings call indicated both progress and challenges. While Waldencast achieved strong adjusted gross profit margins and successful product launches, revenue declined overall, and supply chain disruptions impacted performance. The company remains optimistic about future growth amid macroeconomic pressures.Positive Updates
Strong Adjusted Gross Profit Margin
Achieved an adjusted gross profit margin of 76.4%, representing an increase of 10 basis points year-over-year.
Negative Updates
Overall Revenue Decline
Reported a net revenue of $65.4 million, representing a decline of 4.1% from the first quarter of last year.
Read all updates
Q1-2025 Updates
Positive
Negative
Strong Adjusted Gross Profit Margin
Achieved an adjusted gross profit margin of 76.4%, representing an increase of 10 basis points year-over-year.
Read all positive updates
Company Guidance
In the Waldencast First Quarter 2025 Earnings Call, guidance was provided with an optimistic outlook for the fiscal year, despite some challenges. The company reported a net revenue of $65.4 million, a decline of 4.1% year-over-year, with an adjusted gross profit margin of 76.4% and adjusted EBITDA of $4.4 million, reflecting a margin of 6.7%. Guidance for fiscal 2025 includes targeting mid-teens net revenue growth and an adjusted EBITDA margin in the mid to high-teens. The company anticipates accelerated growth driven by innovations in Milk Makeup and Obagi Medical brands, expansion in digital channels, and improved product availability. Additionally, potential tariff impacts are expected to be manageable, with a low single-digit percent increase in cost of goods sold factored into the guidance.Waldencast Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
62
Positive
Cash Flow
28
Negative
| Breakdown | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2023 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 272.07M | 273.87M | 218.14M | 166.13M | 142.47M |
| Gross Profit | 123.83M | 131.73M | 141.58M | 39.44M | 87.44M |
| EBITDA | -2.49M | 28.63M | -33.54M | -99.25M | 15.05M |
| Net Income | -229.75M | -42.44M | -89.98M | -116.62M | -19.58M |
Balance Sheet | |||||
| Total Assets | 816.20M | 975.86M | 1.04B | 1.09B | 184.59M |
| Cash, Cash Equivalents and Short-Term Investments | 31.89M | 14.80M | 22.58M | 8.69M | 12.79M |
| Total Debt | 149.01M | 182.11M | 177.72M | 199.25M | 118.86M |
| Total Liabilities | 316.10M | 245.92M | 273.44M | 290.18M | 145.35M |
| Stockholders Equity | 461.88M | 662.32M | 624.63M | 639.24M | 39.24M |
Cash Flow | |||||
| Free Cash Flow | -16.25M | -11.83M | -31.82M | -87.51M | 2.24M |
| Operating Cash Flow | -12.82M | -8.82M | -29.77M | -85.01M | 3.53M |
| Investing Cash Flow | 76.23M | -2.92M | -1.99M | -545.28M | -3.79M |
| Financing Cash Flow | -47.22M | 5.58M | 44.33M | 633.35M | 5.16M |
Waldencast Technical Analysis
Positive
1.04
Price Trends
1.23
Positive
1.42
Positive
1.68
Negative
Market Momentum
0.12
Negative
57.96
Neutral
59.70
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For WALD, the sentiment is Positive. The current price of 1.04 is below the 20-day moving average (MA) of 1.53, below the 50-day MA of 1.23, and below the 200-day MA of 1.68, indicating a neutral trend. The MACD of 0.12 indicates Negative momentum. The RSI at 57.96 is Neutral, neither overbought nor oversold. The STOCH value of 59.70 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for WALD.
Waldencast Risk Analysis
Waldencast disclosed 100 risk factors in its most recent earnings report. Waldencast reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 3 New Risks
1.
Risks Related to Internal Controls and Financial Reporting Q4, 2023
2.
Risks Relating to our Business Operations and Financial Condition Q4, 2023
3.
Risks Related to the Ownership of our Securities Q4, 2023
Waldencast Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
67 Neutral | $172.12M | 36.76 | 3.07% | ― | 14.77% | -15.55% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
57 Neutral | $276.35M | 10.25 | -30.68% | 14.78% | -16.07% | -85.04% | |
53 Neutral | $212.91M | -0.85 | -47.81% | ― | -0.66% | -426.80% | |
45 Neutral | $168.44M | -3.29 | -141.94% | ― | -2.16% | 31.21% |
* Consumer Defensive Sector Average
WALD
Waldencast
1.66
-0.70
-29.66%
MKTW
MarketWise
17.11
0.67
4.09%
NRDY
Nerdy
0.89
-0.91
-50.78%
PERF
Perfect Corp
1.69
-0.15
-8.15%
Waldencast Corporate Events
Waldencast to Sell Obagi Medical to Bridgepoint for Up to $460 Million and Refocus on Milk Makeup
Jun 1, 2026
On June 1, 2026, Waldencast announced a definitive agreement to sell its Obagi Medical dermatological skincare and aesthetics business to Bridgepoint in a transaction valued at up to $460 million, subject to customary adjustments and earnouts. Oba...
Waldencast Clears SEC Probe Over Obagi-Related Accounting Issues
Apr 28, 2026
Waldencast plc, a global multi-brand beauty and wellness platform with a portfolio that includes Obagi Medical and Milk Makeup, focuses on scaling purpose-driven, research-based, and clean beauty brands across skin care and makeup. The company emp...
Waldencast Posts Flat 2025 Results as Obagi Surges, Launches Strategic Review and Deleveraging Drive
Mar 13, 2026
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 mi...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.