Oddity Tech (ODD) Q4 2024 earnings summary

Executive summary

• Achieved record 2024 results with $647M net revenue (+27% YoY), adjusted EBITDA of $150M (+40% YoY), and net income of $101M, with both IL MAKIAGE and SpoiledChild delivering double-digit growth.

• Q4 and FY2024 results exceeded guidance on all key metrics, including revenue, gross margin, and adjusted EPS.

• Technology-driven platform leverages data science, machine learning, and AI to support a portfolio of beauty and wellness brands.

• Ended 2024 with $169M in cash and investments, zero debt, and $134M in free cash flow.

• Repurchased 3.6M shares for $147M in 2024; $103M remains on buyback authorization.

Financial highlights

• FY2024 net revenue: $647M (+27% YoY); Q4 2024 net revenue: $124M (+27% YoY).

• FY2024 adjusted EBITDA: $150.4M (+40% YoY); Q4 2024 adjusted EBITDA: $15M (12.3% margin).

• FY2024 gross margin: 72.4% (+196 bps YoY); Q4 2024 gross margin: 72.7% (+330 bps YoY, exceeded guidance).

• FY2024 adjusted diluted EPS: $1.96 (+50% YoY); Q4 2024 adjusted diluted EPS: $0.20 (+18% YoY, above guidance).

• FY2024 free cash flow: $134M; cash and investments at year-end: $169M.

Outlook and guidance

• FY2025 guidance: net revenue $776M–$785M (+20–21% YoY), gross margin ~70%, adjusted EBITDA $155M–$158M, adjusted diluted EPS $1.94–$1.98.

• Q1 2025 guidance: net revenue $258M–$262M (+22–24% YoY), gross margin ~72%, adjusted EBITDA $49M–$50M, adjusted diluted EPS $0.61–$0.63.

• Brand 3 (telehealth) to soft launch in Q3 and officially launch in Q4 2025; no material revenue contribution expected in 2025.

• Brand 4 launch moved to early 2026 to focus resources on Brand 3.

• Gross margin for 2025 expected around 70% as product mix normalizes.