Waldencast Plc develops and operates a beauty and wellness platform by developing, acquiring, accelerating, and scaling the next generation of conscious, purpose-driven ...
Waldencast plc (NASDAQ: WALD) is a global multi-brand beauty and wellness platform founded in 2021 by Michel Brousset and Hind Sebti. The company was initially structured as a special purpose acquisition company (SPAC) and became operational in 2022 after merging with Obagi Medical and Milk Makeup. Headquartered in London with ...Waldencast plc (NASDAQ: WALD) is a global multi-brand beauty and wellness platform founded in 2021 by Michel Brousset and Hind Sebti. The company was initially structured as a special purpose acquisition company (SPAC) and became operational in 2022 after merging with Obagi Medical and Milk Makeup. Headquartered in London with executive offices in New York, Waldencast aims to build a best-in-class platform by creating, acquiring, and scaling next-generation beauty and wellness brands that are conscious and purpose-driven.
The company's portfolio includes well-known brands such as Milk Makeup, known for its clean, cruelty-free cosmetics, and Obagi, a professional skincare brand. Waldencast focuses on direct-to-consumer engagement and values social responsibility, inclusiveness, sustainability, and transparency. It operates through a holding company structure, with brands run independently to preserve their unique identities.
Financially, Waldencast has a market capitalization of approximately $160 million, with revenue around $272 million (TTM). The company is currently unprofitable, with negative EBITDA and net margins, reflecting investments in growth and integration. Its balance sheet shows a mix of assets, including intangible assets from acquisitions, and it manages debt and working capital to support operations.
Under the leadership of CEO Michel Brousset and Executive Chairman Felipe Dutra, the management team brings extensive industry experience. Co-founder Hind Sebti serves as Chief Growth Officer, driving brand development. With about 364 employees, the company leverages a lean structure to support its multi-brand strategy.
Looking ahead, Waldencast is focused on strengthening its portfolio, expanding internationally, and achieving profitability. It prioritizes innovation, digital marketing, and sustainability to meet evolving consumer preferences. Despite current financial challenges, the company is positioned to grow in the beauty and wellness sector, emphasizing conscious capitalism and long-term value creation.
YoYYoY means Year-over-Year. It compares the latest annual value with the previous annual value to show long-term trend strength.
QoQQoQ means Quarter-over-Quarter. It compares the latest quarter with the immediately previous quarter to show short-term momentum changes.
RevenueThe total money that came through the front door from selling things, before paying a single bill. Think of it as the grand total of every credit card swipe from customers. (YoY compares this year to last year's performance, while QoQ compares the current three months to the previous three).
$272.1M
-0.7%
+5.7%
Net IncomeThe absolute bottom line. If the company paid every single supplier, employee, banker, and tax collector, this is the actual money left in their pocket at the end of the day.
$-229.7M
-441.3%
+64.4%
Gross MarginThe basic markup. If they sell a $100 pair of sneakers, this percentage tells you how much of that price tag is profit right after paying for the rubber and shoelaces, but before paying for things like store rent or TV commercials.
+45.5%
-5.4%
-7.0%
Operating MarginThe 'day job' efficiency score. Out of every dollar a customer spends, this shows how many cents the company keeps after making the product AND paying for all the everyday corporate overhead (like salaries, marketing, and keeping the lights on).
-22.7%
-6.0%
+8.6%
Net MarginThe final take-home percentage. When you strip away every conceivable cost, tax, and interest payment, this is the exact number of cents the company truly gets to keep from every dollar in sales.
-84.4%
-444.9%
+66.3%
Free Cash FlowThe holy grail of corporate cash. It's the spendable, physical money left over after the business pays for its daily operations AND buys the big, expensive upgrades (like new factories or servers) it needs to survive. This is the 'free' money they can use to pay dividends or buy back stock.
$-16.2M
-37.3%
+84.7%
FCF MarginThe ultimate cash conversion rate. It shows how good the company is at turning regular sales directly into cold, hard, spendable cash. A high percentage means the business is an absolute cash-printing machine.
-6.0%
-38.2%
+85.6%
Debt / EquityThe financial risk gauge. It compares how much of the company's empire was built using borrowed money (loans) versus the owners' own money (shareholders). A high number means they are heavily leveraged and playing a riskier game; a low number means they are playing it safe.
32.3%
+17.3%
-16.6%
Current RatioThe 12-month survival check. It simply compares the cash they have right now (plus things they can quickly turn into cash) against the immediate bills they absolutely must pay this year. A score above 1 means they have enough in the wallet to cover the upcoming bills without panicking.
1.70x
+26.4%
+11.2%
Total AssetsThe absolute size of the company's empire. It bundles together absolutely everything of value they own—from the cash in the register and the inventory in the warehouse, to the software patents in the vault and the factories on the ground.
Operator: Greetings, welcome to the Waldencast Fourth Quarter and Fiscal Year 2024 Earnings Call. At this time, all participants are in listen-only mode. A question-and-answer session, will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. At this time, it's now my pleasure to introduce Allison Malkin with Investor Relations. Thank you, Allison. You may now begin.
Allison Malkin: Thank you, and welcome to the Waldencast plc fourth quarter and fiscal year 2024 earnings call. Here with me today are Michel Brousset, Founder and Chief Executive Officer; and Manuel Manfredi, Chief Financial Officer. For today's call, Michel will begin with an update on our business and vision and discuss the company's performance within the context of the beauty market. Manuel will follow with a review of the fourth quarter and full year performance and provide our fiscal 2025 outlook. Following this, Michel will share the strategic growth initiatives for our Milk Makeup and Obagi Medical brands. After the prepared remarks, the operator will open the call to take questions. I would like to remind you that management will make certain statements today, which are forward looking in nature, including statements regarding the outlook of Waldencast business and other matters referenced in the company's earnings release that was issued yesterday. Each forward-looking statement is subject to risks and uncertainties that could cause actual results to differ materially from those projected in or implied by such statements. Additional information regarding these statements appears under the heading Cautionary Note regarding forward-looking statements in the company's earnings release and in the company's filings that it makes with the Securities and Exchange Commission that are available at www.sec.gov and on the Investor Relations section of the company's website at ir.waldencast.com and should be read in conjunction with the section entitled Risk Factors in the company's annual report for 2023 on Form 20-F filed with the Securities and Exchange Commission on April 30, 2024. The forward-looking statements on this call speak only as of the original date of this call, and we undertake no obligation to update or revise any of these statements. Also during this call, management will discuss certain non-GAAP financial measures which management believes can be useful in evaluating the company's performance. The presentation of non-GAAP measures should not be considered in isolation or as a substitute for results prepared in accordance with GAAP. You will find additional information regarding the definition of these non-GAAP financial measures and a reconciliation of these non-GAAP to the most directly comparable GAAP measures in the company's earnings release. With that, let me now turn the call over to Michel Brousset.
Michel Brousset: Thank you, Allison and good morning, everyone. It is a pleasure to be here today and share …
