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ODDITY Tech Reports First Quarter 2026 Results, Makes Progress Toward Normalization
First quarter net revenue of $197.9 million, down approximately 26% year-over-year First quart...
About this update from Odd Burger Corporation
ODDITY Tech Reports First Quarter 2026 Results, Makes Progress Toward Normalization First quarter net revenue of $197.9 million, down approximately 26% year-over-yearFirst quarter adjusted EBITDA of $(7.0) millionFirst quarter net loss of $(21.4) million and first quarter adjusted net loss of $(9.8) millionStrong liquidity position including cash, cash equivalents and investments of $667.4 million, and aggregate credit facilities of $350 million which remain undrawn NEW YORK, June 02, 2026 (GLOBE NEWSWIRE) -- ODDITY Tech Ltd. (NASDAQ: ODD) today announced its financial results for the first quarter ended March 31, 2026. “We continue to implement our recovery plan to address the account dislocation with our largest advertising partner and we remain hopeful that we are on track for normalization in the second half of this year,” said Oran Holtzman, ODDITY co-founder and CEO. “For many years, our CPA was very stable, with only gradual increases aligned with our industry. In Q1 2026, we saw a severe step-function discontinuity, comparing to historical first quarters, with CPA in some cases reaching levels 2x higher than what we expected. While we continue to navigate this dislocation, we have been working closely with our advertising partner on remediation and we are encouraged by an improvement in IL MAKIAGE CPA this May, which declined an estimated -28% sequentially from April.” Media Costs ODDITY is providing additional data on IL MAKIAGE CPA with our largest advertising partner for H1 2022 through May of H1 2026, as the first half is historically the period in which we acquire the majority of our annual new users. We believe this data supports the view that the CPA dislocation is technical in nature, rather than driven by brand health or market saturation. Prior to 2026, IL MAKIAGE 1H CPA growth was very stable, with yearly increases correlated with our industry.The increase in 2026 is sudden, indicating a dramatic break rather than steady deterioration over time.The breakdown occurred in different markets simultaneously. US, Canada, UK, Australia, Israel — markets with different longevity and saturation levels.A driver of the break is spiking bounce rates. This shows in our view that the issue is with lower quality audiences being served our ads by the algorithm. IL MAKIAGE CPA Index with Largest Advertising Partne...
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