Oddity FY2024: Record breaking year with revenue up 27 percent
Oddity has announced its results for the fourth quarter and full year ended December 31, 2024. The tech firm saw full year sales soar 27 percent to US$647 million, while adjusted EBITDA of US$150 million, up 40 percent yoy. The post Oddity FY2024: Record breaking year with revenue up 27 percent appeared first on Global Cosmetics News.
THE WHAT? Oddity has announced its results for the fourth quarter and full year ended December 31, 2024. The tech firm saw full year sales soar 27 percent to US$647 million, while adjusted EBITDA of US$150 million, up 40 percent yoy.
THE DETAILS The tech firm said that it hopes to increase net revenue to between US$776 million and US$785 million through the continued profitable growth of its existing portfolio, accelerating investment in Oddity Labs and building Brand 4, to lead in an attractive category in the beauty and wellness market.
THE WHY? Oran Holtzman, Oddity co-founder and CEO, comments, “2024 was a record-breaking year for Oddity. We delivered outstanding results and exceeded our financial guidance every single quarter of the year, just as we have in the past 7 quarters since our IPO, while simultaneously making massive investments in our future.
“We once again proved the power of online. The strength of our direct-to-consumer model really stands out in this backdrop where others talk about weaker sales and excess inventory, yet we delivered net revenue growth of 27 percent for the year at a 23.3 percent adjusted EBITDA margin and with excellent free cash generation.”
The post Oddity FY2024: Record breaking year with revenue up 27 percent appeared first on Global Cosmetics News.
