Oddity Tech (ODD) Q1 2025 earnings summary

Executive summary

• Q1 2025 results exceeded expectations, with 27% year-over-year revenue growth to $268 million and all key metrics beating guidance, prompting a raised full-year outlook.

• Adjusted EBITDA reached $52–$52.4 million, and adjusted diluted EPS was $0.69, both above guidance.

• Business momentum continued into April, supporting confidence in a strong Q2 and FY 2025.

• Strategic focus remains on scaling D2C brands, international expansion, and launching new brands, including a telehealth platform.

• Ongoing investments in technology, data-driven customization, and science-backed products underpin growth.

Financial highlights

• Q1 2025 net revenue was $268 million (up 27% YoY), gross margin improved to 74.9% (up 116 bps YoY), and adjusted EBITDA margin was 19.5%.

• Adjusted diluted EPS was $0.69 (up from $0.61), and free cash flow was $87 million.

• Ended Q1 with $257 million in cash and investments, zero debt, and an undrawn $200 million credit line.

• FY 2024 net revenue totaled $647 million (+27% YoY); gross margin was 72.4%.

• FY 2024 adjusted EBITDA was $150.4 million (+40% YoY); adjusted diluted EPS was $1.96 (+50% YoY).

Outlook and guidance

• FY 2025 net revenue guidance: $790–798 million (22–23% YoY growth); gross margin at 71.0%.

• Adjusted EBITDA guidance: $157–161 million; adjusted diluted EPS: $1.99–2.04.

• Q2 2025 guidance: net revenue $235–239 million (22–24% growth), gross margin ~70.5%.

• Q2 is off to a strong start, with high predictability from repeat cohorts.

• Tariff and trade headwinds expected to be manageable and offset by cost efficiencies.