NASDAQ$WALD
Waldencast plc · Q1 2025 earnings
Q1 2025 earnings · · After market close · Investor relations
Briefing
Waldencast Q1 2025: $65.4M revenue (-4%), adjusted EBITDA $4.4M
Waldencast reported Q1 2025 results on May 13, 2025 for the three months ended March 31, 2025. Net revenue declined 4.1% year over year to $65.4 million as Milk Makeup faced retail inventory reductions, partially offset by 7.1% growth at Obagi Medical. Adjusted gross profit was $50.0 million with margin expanding 10 basis points to 76.4%. Adjusted EBITDA was $4.4 million (6.7% margin) versus $11.4 million a year ago, reflecting sustained sales and marketing investment. Net loss was $20.7 million, primarily driven by depreciation and financial charges. Management secured a new $205 million credit facility and targets mid-teens net revenue growth for full-year 2025.
- Net revenue of $65.4M declined 4.1% YoY; adjusted gross margin improved 10 bps to 76.4%
- Adjusted EBITDA was $4.4M (6.7% margin) vs $11.4M in Q1 2024 amid higher marketing spend
- Net loss of $20.7M driven by depreciation and financial charges; non-recurring legal costs were $1.5M
- Milk Makeup revenue fell 15.1% but U.S. retail ended strong on Hydro Grip Gel Skin Tint launch
- Obagi Medical revenue grew 7.1%; company secured $205M credit facility and targets mid-teens FY growth
Headline financials
Revenue & EPS history
Waldencast · Revenue · Quarterly
$65.4M
Revenue by segment
Waldencast · $65.4M total across 2 segments · Q1 2025
- Milk Makeup$36.2M—55.4%
- Obagi Medical$29.2M—44.6%
Forward guidance
Waldencast targets mid-teens net revenue growth for fiscal 2025 and adjusted EBITDA margin in the mid-to-high teens, assuming no further material tariff changes.
Tailwinds
- Obagi Medical growth and successful Milk Makeup product launch at Ulta
- New $205M credit facility enhances financial flexibility
Headwinds
- Q1 revenue decline and EBITDA compression from lower Milk Makeup volumes and higher marketing investment
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 12 quarterly earnings reports · overlaid with Q1 2025
-3.4%
Avg return
Earnings day
-4.7%
Avg return
5 days after
-6.5%
Avg return
30 days after
8%
1 / 12 earnings
Positive
+3.2%
Q3 2022
Best reaction
-19.5%
Q1 2025
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2025 | -19.5% | -30.0% | -27.4% | |
| Q4 2024 | -3.3% | -4.7% | -20.7% | |
| Q2 2024 | -0.3% | +4.2% | +23.1% | |
| Q2 2023 | -0.3% | +4.2% | +23.1% | |
| Q4 2023 | -0.4% | -0.2% | -17.6% | |
| Q1 2024 | -0.3% | -1.2% | -25.1% | |
| Q4 2022 | -12.3% | -17.9% | -22.2% | |
| Q3 2023 | -0.1% | -0.5% | -14.4% | |
| Q3 2022 | +3.2% | +7.3% | +5.1% | |
| Q1 2023 | -7.7% | -17.5% | +0.1% | |
| Q4 2021 | -0.2% | -0.1% | -0.1% | |
| Q4 2020 | -0.1% | +0.0% | -1.8% | |
| Q1 2022 | — | — | — |
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