Business
OLAPLEX Reports Fourth Quarter and Fiscal Year 2024 Results
NEW YORK, NY, March 04, 2025 (GLOBE NEWSWIRE) -- Olaplex Holdings, Inc. (NASDAQ: OLPX) ("OLAPLEX" or the "Company") today announced financial results for the
About this update from Olaplex Holdings, Inc.
[{"type":"text","content":"NEW YORK, NY, March 04, 2025 (GLOBE NEWSWIRE) -- Olaplex Holdings, Inc. (NASDAQ: OLPX) (\"OLAPLEX\" or the \"Company\") today announced financial results for the fourth quarter and fiscal year ended December 31, 2024. Amanda Baldwin, OLAPLEX’s Chief Executive Officer, commented: \"I am pleased with our end to the year with our fourth quarter results ahead of the expectations we shared in November. During 2024 we laid a critical foundation for our business and brand transformation and I remain confident and optimistic about the strategies put in place as we step into a meaningful year ahead for the business.\" For the fourth quarter of 2024 compared to the fourth quarter of 2023: Net sales decreased 9.8% to $100.7 million; By channel: Specialty Retail increased 5.7% to $28.8 million;Professional decreased 27.1% to $31.0 million;Direct-To-Consumer decreased 2.5% to $40.9 million; Net sales increased 0.3% in the United States and decreased 17.4% internationally; Net income decreased 162.4% and adjusted net income decreased 65.8%;Diluted EPS was $(0.01), as compared to $0.02 for the fourth quarter of 2023;Adjusted Diluted EPS was $0.01, as compared to $0.03 for the fourth quarter of 2023. For the fiscal year 2024 compared to the fiscal year 2023: Net sales decreased 7.8% to $422.7 million; By channel: Specialty Retail increased 5.4% to $142.3 million;Professional decreased 19.3% to $145.3 million;Direct-To-Consumer decreased 5.7% to $135.0 million; Net income decreased 68.3% and adjusted net income decreased 30.1%;Diluted EPS was $0.03, as compared to $0.09 for 2023;Adjusted Diluted EPS was $0.11, as compared to $0.16 for 2023. Three Months Ended December 31, 2024 Results (Amounts in thousands, except per share data) Three Months Ended December 31, 2024 2023 % ChangeNet Sales $100,741 $111,717 (9.8)%Gross Profit $66,776 $76,778 (13.0)%Gross Profit Margin 66.3% 68.7% Adjusted Gross Profit $69,064 $78,825 (12.4)%Adjusted Gross Profit Margin 68.6% 70.6% SG&A $52,869 $49,172 7.5%Adjusted SG&A $50,306 $44,515 13.0%Net Income (Loss) $(8,800) $14,101 (162.4)%Adjusted Net Income $7,630 $22,301 (65.8)%Adjusted EBITDA $17,489 $35,993 (51.4)%Adjusted EBITDA Margin 17.4% 32.2% Diluted EPS $(0.01) $0.02 (150.0)%Adjusted Diluted EPS $0.01 $0.03 (66.7)% Fiscal Year 2024 Results (Amounts in thousands, except per share data) Year Ended December 31, ...