Waldencast Net Revenue Surges 26% in Q2 as Milk Makeup Shines
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By Karen Roman
Multi-brand beauty company Waldencast plc (Nasdaq: WALD) said second quarter net revenue rose 25.7% from a year earlier to $63.3 million.
Gross profit was $44.6 million in Q2 in comparison to $31.2 million in 2023, the company said in a statement.
Adjusted EBITDA for Q2 was $6.3 million, or a 10% adjusted EBITDA margin, compared to $3.9 million a year prior, or a 7.8% margin, it stated.
The company said it expects net revenue comparable growth and adjusted EBITDA in the second half of the year to surpass that of H1 2024.
“Following this first strong half, and with various growth drivers planned for the second half, we are even more confident in our ability to deliver our FY 2024 outlook with net revenue Comparable Growth above the rate achieved in Q2 2024,” said Michel Brousset, Waldencast’s CEO. “Milk Makeup and Obagi Medical brands continue to grow well ahead of the markets in which they operate and are still far from achieving their full potential.”
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