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The Honest Company
The Honest Company (HNST) investor relations material
The Honest Company Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q4 2025 earnings summary25 Feb, 2026
Executive summary
Achieved 2025 financial results in line with updated guidance, with organic revenue up 5.3% to $294.1 million and reported revenue of $371.3 million, down 1.9% year-over-year, driven by strategic exits from Honest.com fulfillment, apparel, and Canadian business.
Adjusted gross margin improved to 38.7% (+50 bps YoY), and adjusted EBITDA reached $21.8 million, in line with guidance.
Ended 2025 with $89.6 million in cash, no debt, and authorized a $25 million share repurchase program.
Household penetration reached an all-time high of 7.6%, up by 1.7 million households year-over-year.
Launched Transformation 2.0, focusing on higher-margin categories and delivering $10–15 million in annual cost savings with $30–35 million in up-front costs.
Financial highlights
Full year 2025 organic revenue grew 5.3% YoY to $294.1 million, while reported revenue declined 1.9% to $371.3 million due to strategic exits.
Adjusted gross margin was 38.7% for 2025; GAAP gross margin was 33.3%, down from 38.2% in 2024 due to inventory write-downs and tariffs.
Net loss for 2025 was $15.7 million, mainly from restructuring costs; adjusted net income was $8.3 million.
Adjusted EBITDA for 2025 was $21.8 million, down from $25.9 million in 2024; Q4 adjusted EBITDA was $3.8 million.
Free cash flow improved to $13.6 million, with cash and equivalents at $89.6 million at year-end 2025.
Outlook and guidance
2026 reported revenue expected to decline 16–18% to $306–$312 million due to strategic exits; organic revenue growth projected at 4–6%.
Adjusted gross margin expected in the low 40% range for 2026, with adjusted EBITDA guidance of $20–$23 million.
Sequential improvement in organic growth anticipated throughout 2026, with H2 benefiting from supply chain efficiencies.
Guidance incorporates continued diaper category challenges and ongoing macroeconomic pressures.
Impact of share repurchase on cash reserves
Quantify gross margin improvement from exits
Reconcile 2026 reported vs. organic revenue growth
Diaper strategy beyond pricing adjustments?
Growth drivers for non-baby households?
Timeline for supply chain efficiency realization?
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Q1 20266 May, 2026
The Honest Company
Next The Honest Company earnings date
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Frequently asked questions
The Honest Company, Inc. produces and retail diapers and wipes, skin and personal care, and household and wellness products. The Honest Company's mission is to create the healthiest home products possible and make them affordable for everyone. Their products are made in the USA and certified by leading Consumer Product Safety Authorities in North America. The Honest Company advocates for Chemical Free and Organic goods, supporting safe choices and educating others on healthier options.
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