Q1 2025 Waldencast PLC Earnings Call Transcript
Key Points
- Waldencast PLC (WALD) reported a strong adjusted gross profit margin of 76.4%, reflecting a year-over-year increase.
- The company achieved high single-digit growth in US retail sales for Milk Makeup, driven by successful product launches like the Hydro Grip gel.
- Obagi Medical saw a 7.1% increase in net revenue, supported by strategic supply chain improvements.
- Waldencast PLC (WALD) is expanding its retail footprint with Milk Makeup's successful launch in Ulta Beauty stores.
- The company is actively working on supply chain enhancements to improve operational efficiency and support long-term growth.
- Waldencast PLC (WALD) experienced a 4.1% decline in net revenue compared to the first quarter of the previous year.
- Milk Makeup's international sales faced challenges due to tough comparisons with the previous year's distribution expansion.
- The company encountered supply chain disruptions, leading to out-of-stock issues for key products at Obagi Medical.
- There was a decline in Milk Makeup's revenue by 15.1%, attributed to international sales contraction and inventory adjustments.
- Waldencast PLC (WALD) is facing pressure from a decelerating beauty market and a fluid macroeconomic environment.
Good day and welcome to the Waldencast first quarter, 2025 earnings call. (Operator Instructions). I will now hand you over to Allison Malkin, partner ICR. You may proceed.
Thank you and welcome to the Waldencast PLC first quarter fiscal 2025 earnings call. Here with me today are Michel Brousset, Founder and Chief Executive Officer, and Manuel Manfredi, Chief Financial Officer. For today's call, Michel will begin and with an update on our business and vision, Manuel will follow with a review of the first quarter and provide our fiscal 2025 outlook.
Following this, Michel will share the strategic growth initiative for our Milk Makeup and Obaji Medical brands. After the prepared remarks, the operator will open the call to take questions. Before we start, I would like to remind you that management will make certain statements today which are forward-looking in nature, including statements regarding the outlook of the Waldencast business.
And other matters referenced in the company's earnings
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