ODDITY Announces New $200 Million Credit Facility

Rhea-AI Summary

ODDITY Tech (NASDAQ: ODD) has secured new credit facilities totaling $200 million with a syndicate of banks, doubling its previous $100 million facility. The company maintains a strong financial position with over $165 million in cash, cash equivalents, and investments as of December 31, 2024, with zero funds drawn from the new facility.

The enhanced credit facility will provide increased financial flexibility for various corporate initiatives, including growth initiatives, acquisitions, share buybacks, and general corporate needs. ODDITY operates as a consumer tech company that develops digital-first brands in the beauty and wellness industries, serving approximately 50 million users through its AI-driven online platform. The company owns IL MAKIAGE and SpoiledChild brands, with operations spanning New York City, Tel Aviv, and Boston.

Positive

• Doubled credit facility from $100M to $200M, enhancing financial flexibility
• Strong cash position of $165M with zero debt drawn
• Large user base of 50 million customers

Negative

• None.

NEW YORK, Jan. 31, 2025 (GLOBE NEWSWIRE) -- On January 31, 2025, ODDITY Tech Ltd. (NASDAQ: ODD, the “Company”) entered into agreements with a syndicate of banks to secure credit facilities for a total of $200 million (collectively the “Facility”). The Facility replaces the Company’s previous $100 million credit facility and increases financial flexibility to fund growth initiatives, acquisitions, share buybacks, and other general corporate needs.

ODDITY remains in a strong financial position, with over $165 million of cash, cash equivalents, and investments on its balance sheet as of December 31, 2024,¹ and zero funds drawn on the new $200 million Facility.

About ODDITY:

ODDITY is a consumer tech company that builds and scales digital-first brands to disrupt the offline-dominated beauty and wellness industries. The company serves approximately 50 million users with its AI-driven online platform, deploying data science to identify consumer needs, and developing solutions in the form of beauty and wellness products. ODDITY owns IL MAKIAGE and SpoiledChild. The company operates with business headquarters in New York City, an R&D center in Tel Aviv, Israel, and a biotechnology lab in Boston.

Contacts:

Press:

Michael Braun
michaelb@oddity.com

Investor:
investors@oddity.com

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¹ Figure includes cash and cash equivalents, restricted cash, short-term deposits, and marketable securities; it is based on unaudited management accounts.

FAQ

What is the size of ODDITY's (ODD) new credit facility announced on January 31, 2025?

ODDITY secured a new $200 million credit facility, doubling its previous $100 million facility.

How much cash and equivalents does ODDITY (ODD) have as of December 2024?

ODDITY reported over $165 million in cash, cash equivalents, and investments as of December 31, 2024.

What will ODDITY (ODD) use the new $200M credit facility for?

The facility will fund growth initiatives, acquisitions, share buybacks, and other general corporate needs.

How many users does ODDITY's (ODD) AI-driven platform serve?

ODDITY's AI-driven online platform serves approximately 50 million users.