Waldencast Plc Reports Net Sales of $78.9 Million in Q3

Global multi-brand beauty and wellness platform Waldencast Plc, owner of Milk Makeup and advanced skin care line Obagi, reported net sales of $78.9 million in its Q3 financial results, ended September 30, 2022.

 

In Q3, the company saw continued positive momentum in its Milk Makeup and Obagi brands from the first half of the year, highlighted by increased sales and profitability.

 

There was a gross margin of 62.4% and adjusted gross margin of 71.9% with a net loss of $16.8 million and an adjusted EBITDA of $15.3 million, or 19.4% of net sales.

 

Obagi Skincare recorded net sales of $60.4 million, an increase of 3.2% from the same period in the prior year and an increase of 12.1% on a comparable basis. Milk Makeup recorded net sales of $18.5 million, an increase of 41.7% from the same period in the prior year

 

“We are pleased with our third quarter performance, which continued the positive momentum for our brands from the first half of the year, highlighted by increased sales and profitability,” said Michel Brousset, Waldencast founder and CEO. “We are excited about our opportunities as we enter the final quarter of the year, and while cognizant of the broader macro-economic environment, the beauty category remains strong. In addition, our business and our brands continue to deliver strong growth and profitability, which is reflected in our reaffirmation of guidance. Our long-term ambition is to build a global best-in-class beauty and wellness multi-brand platform by scaling the next generation of high growth purpose driven brands. We look forward to delivering on this objective for the benefit of all Waldencast stakeholders.”