Oddity’s Q3 Sales Jump 26%, Raises FY Outlook

Oddity Tech reported another jump in sales for the third quarter. As a result, the owner of Il Makiage and SpoiledChild raised its outlook for the full year. In Q3, sales rose more than 26% to $119 million. Analysts expected sales of $116 million. Net income more than quintupled to $18 million.

“We are pleased with our financial results for the third quarter, which beat our guidance across revenue, gross margin, adjusted EBITDA [earnings before interest, taxes, depreciation and amortization], and adjusted diluted EPS [earnings per share],” said CFO Lindsay Drucker Mann. “Our excellent Q324 and year-to-date results, combined with a strong start to Q4 and our sustained high repeat rates allow us to once again raise our full-year 2024 financial outlook across all metrics.”

Oddity executives predict sales will rise 26-27% to $642-644 million for the full year.

“The strength and resilience of our direct-to-consumer model is on full display in this market backdrop, where some of our competitors are experiencing slowing sales, weaker foot traffic, and excess inventory conditions,” explained Oddity Co-Founder and CEO Oran Holtzman. “In contrast, we are consistently delivering strong, profitable growth across brands, products, and categories in every environment.”

Next year, Oddity will launch two brands. Observers predicted one will be a medical-grade skin and body care brand targeting issues such as eczema and acne.