Oddity beat Wall Street forecasts on the top and bottom lines in its fourth quarter as Il Makiage became a $500 million brand.
Net revenue was $124 million in the three months ended Dec. 31, representing a 27 percent year-over-year increase. Analysts had forecast $120 million.
Adjusted net income came in at $12 million, compared to $10 million in the fourth quarter of 2023. Adjusted diluted EPS were 20 cents, up from 17 cents a year earlier and above Wall Street expectations for 11 cents.
Related Articles
Net revenue for 2024 totaled $647 million compared to $509 million in 2023. The company told WWD that Il Makiage passed the significant $500 million milestone last year. Its second brand, SpoiledChild, also performed well, according to Oddity.
In an interview, global chief financial officer Lindsay Drucker Mann said of Il Makiage: “We started as a pure color business, but today, around 30 percent of the brand is skin. There’s just so much we can do in that category. It’s having a lot of great traction, great satisfaction with consumers. They really love the products that we’re creating.”
Oddity is gearing up to launch brand three, a telehealth platform for consumers with medical-grade skin and body issues, in the second half of 2025. It will be a mix of over the counter and prescription. Brand four will follow shortly after.
For the year as a whole, Oddity is forecasting net revenue between $776 million and $785 million. Adjusted diluted EPS is expected to come in between $1.94 and $1.98.