Business
OLAPLEX Reports First Quarter 2022 Results
Net Sales grew 58% in the first quarter 2022Diluted EPS for the first quarter 2022 of $0.09 and Adjusted Diluted EPS of $0.13 SANTA BARBARA, Calif., May 11,
About this update from Olaplex Holdings, Inc.
[{"type":"text","content":"Net Sales grew 58% in the first quarter 2022Diluted EPS for the first quarter 2022 of $0.09 and Adjusted Diluted EPS of $0.13 SANTA BARBARA, Calif., May 11, 2022 (GLOBE NEWSWIRE) -- Olaplex Holdings, Inc. (NASDAQ: OLPX) (“OLAPLEX” or the “Company”), an innovative, science-enabled, technology-driven beauty company, focused on delivering its patent-protected premium hair care products to professional hair salons, retailers, and everyday consumers, today announced financial results for the first quarter ended March 31, 2022 (\"first quarter 2022\"). First Quarter 2022 compared to First Quarter 2021: Net sales increased 57.6% to $186.2 million; Net sales increased 65.1% in the United States and 45.7% internationallyBy channel: Professional grew 62.6% to $77.0 million, or 41.4% of net salesSpecialty Retail increased 102.5% to $64.3 million, or 34.5% of net salesDirect-To-Consumer rose 15.1% to $44.9 million, or 24.1% of net sales; Net income increased 36.1% and adjusted net income increased 60.5%;Diluted EPS were $0.09 for the first quarter 2022, as compared to $0.07 for the first quarter 2021;Adjusted Diluted EPS were $0.13 for the first quarter 2022, as compared to $0.09 for the first quarter 2021Expanded product portfolio with the launch of No. 9 Bond Protector Nourishing Hair Serum; andLaunched into Ulta retail stores and Ulta online, as well as expanded distribution in Sephora at Kohl’s in the United States, Sephora Europe and Douglas in Germany. JuE Wong, OLAPLEX’s President and Chief Executive Officer, commented: “The first quarter marked an excellent start to the year, consistent with our plan and continuing the positive momentum in our business. We attribute our ongoing strength to our clear competitive advantages: patent-protected products that are able to improve hair health from the first use, a proven track record of A+ new product launches, a highly engaged community of professional stylists and consumers, our synergistic omni-channel model and our asset-light, nimble operations. I would like to thank our Olaplex team and our partners in delivering an outstanding performance. As we look ahead, we believe we are well positioned to sustain our success in this dynamic operating environment. Global premium hair care is a large, fast growing category that has been resilient through prior economic cycles. With our fiscal 2022...