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Company research18 Apr 2024
Companies That Had Their IPO in 2023: Cautious Optimism
The cautiously optimistic market in 2023 saw stocks rebounded upwards, and interest in IPOs picked up from the previous year.
Oddity Tech
Oddity Tech (ODD) investor relations material
Oddity Tech Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary9 Sep, 2026
Executive summary
Net revenue for Q2 2026 declined 25% year-over-year to $181 million, mainly due to IL MAKIAGE's advertising algorithm dislocation, which sharply increased customer acquisition costs and reduced both first and repeat order revenue.
SpoiledChild delivered strong growth, on track for at least 35% growth in 2026 and approaching $350 million in net revenue, with robust customer metrics and high repeat rates.
METHODIQ, launched less than a year ago, is expected to surpass SpoiledChild's first-year revenue, driven by demand for both prescription and non-prescription products, especially in hyperpigmentation, and is showing high customer satisfaction and retention.
The company is actively working to resolve IL MAKIAGE's ad account issue and expects normalization and a return to growth in 2027.
Strong liquidity with $561 million in cash, cash equivalents, and investments, and $350 million in undrawn credit facilities as of June 30, 2026.
Financial highlights
Adjusted EBITDA was $13 million for Q2 2026, ahead of guidance ($8–$10 million), but down year-over-year due to higher CPA and revenue decline at IL MAKIAGE.
Gross margin was 68.7% in Q2 2026, down from 72.3% last year, mainly due to lower AOV and product mix shift.
Adjusted diluted EPS was $0.20 for Q2 2026, a 78% decrease year-over-year.
Free cash flow increased by $14 million in Q2 but was negative $7.5 million for the first half of 2026.
LTM Q2 2026 net revenue totaled $679 million; LTM adjusted EBITDA was $47 million with a 7% margin.
Outlook and guidance
Q3 2026 net revenue expected to decline ~5% year-over-year, a sequential improvement from Q2.
Q3 adjusted EBITDA guidance: $18–$20 million.
Full-year 2026 net revenue expected to decline ~19% year-over-year, with adjusted EBITDA between $30–$32 million.
Guidance reflects conservatism due to ongoing uncertainty in ad spend allocation and market volatility.
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Latest events from Oddity Tech
- Q1 2026 revenue fell 26% on high CPA, but recovery and positive EBITDA are expected.ODD
Q1 2026 - Record 2025 growth and cash flow, but Q1 2026 faces a 30% revenue drop from acquisition cost spikes.ODDQ4 2025
- Q3 revenue and EPS grew 24%, METHODIQ launched, and full-year guidance was raised.ODDQ3 2025
- Q2 revenue up 25%, cash at $815M, 2025 outlook raised, and Brand 3 launches in Q4.ODDQ2 2025
- Data-driven growth, high repeat rates, and innovation drive rapid expansion in online beauty.ODDFurey Research Partners - Hidden Gems 2024 Conference
- Record Q3 growth and raised 2024 outlook highlight strong D2C execution and cash flow.ODDQ3 2024
- Record revenue growth and margin expansion drive raised 2024 outlook and strong cash position.ODDQ2 2024
- Q1 revenue up 27% to $268M; full-year outlook raised on strong DTC and brand momentum.ODDQ1 2025
- 27% revenue growth, strong margins, and tech-driven innovation fuel robust 2025 outlook.ODDQ4 2024
Next Oddity Tech earnings date
Q3 202611 Nov, 2026
Oddity Tech
Next Oddity Tech earnings date
Q3 202611 Nov, 2026
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Frequently asked questions
AI-powered Beauty and Wellness
Oddity Tech Ltd is a consumer technology company specializing in the beauty and wellness sectors. They are known for creating and expanding digital-first brands, leveraging advanced technologies such as artificial intelligence, molecular discovery, computer vision, and a data science-driven online platform. The company markets beauty, hair, and skincare products under a number of its brands. Furthermore, Oddity Tech operates ODDITY LABS, a biotechnology center focused on developing product ingredients, including novel molecules, probiotics, and peptides. The company is headquartered in NYC, and its shares are listed on the Nasdaq.
The Company’s Platform
One of the standout features of Oddity's platform is PowerMatch, a proprietary AI system designed to match consumers with the perfect product. This technology, along with SpoiledBrain, utilizes numerous machine learning models to provide accurate product recommendations, streamlining the consumer experience and providing product recommendations without users having to step foot in a store. Oddity's platform leverages a "massive data lake," with over 40 million unique users and more than a billion data points, Oddity harnesses machine learning, data science, computer vision, and AI-guided molecular discovery to drive its initiatives.
Oddity Labs
Oddity Labs is the company’s biotechnology center and focuses on applying AI-based molecule discovery techniques within the beauty and wellness industries. The company utilizes a combination of synthetic biology, genomic sequencing, robotics, and machine learning to develop new products. Its focus is on creating small molecules, probiotics, peptides, and other biological substances to address a wide array of consumer needs efficiently and effectively. The development process at Oddity Labs includes various stages such as phenotypic screening, medicinal chemistry, molecular screening, deep learning, and both in vitro and ex vivo validation to ensure the safety and efficacy of their products.
The Company's Own Brands
The company also owns and operates two of its own brands: Il Makiage and SpoiledChild. Il Makiage produces and sells makeup products while SpoiledChild sells anti-aging skin and hair products. Both brands utilize the parent company’s AI-driven platforms. Through these brands, the company competes against other companies in the industry such as L’Oreal and Elf Beauty.