ODDITY Tech Reports Record Second Quarter Results, Raises Full Year Outlook
ODDITY Tech (NASDAQ: ODD) reported strong Q2 2025 results, with net revenue reaching $241 million, up 25% year-over-year. The company achieved $70 million in adjusted EBITDA and $49 million in net income.
Key financial metrics include a 72.3% gross margin, adjusted diluted EPS of $0.92, and a robust cash position of $815 million. The company raised its full-year 2025 outlook, projecting revenue between $799-804 million (23-24% growth) and adjusted EBITDA of $160-162 million.
Strategic developments include double-digit growth for IL MAKIAGE and SpoiledChild, international expansion, and progress on Brand 3 launch in Q4 2025. The company completed a $600 million exchangeable note offering with 0% coupon and maintains $200 million in undrawn credit facilities.
ODDITY Tech (NASDAQ: ODD) ha riportato risultati solidi nel secondo trimestre del 2025, con un fatturato netto di 241 milioni di dollari, in crescita del 25% su base annua. L'azienda ha raggiunto un EBITDA rettificato di 70 milioni di dollari e un utile netto di 49 milioni di dollari.
I principali indicatori finanziari includono un margine lordo del 72,3%, un utile diluito rettificato per azione di 0,92 dollari e una solida posizione di cassa pari a 815 milioni di dollari. La società ha rivisto al rialzo le previsioni per l'intero anno 2025, prevedendo ricavi tra 799 e 804 milioni di dollari (crescita del 23-24%) e un EBITDA rettificato tra 160 e 162 milioni di dollari.
Tra gli sviluppi strategici si segnalano una crescita a doppia cifra per IL MAKIAGE e SpoiledChild, l'espansione internazionale e i progressi per il lancio del Brand 3 nel quarto trimestre del 2025. La società ha completato un'emissione di obbligazioni convertibili da 600 milioni di dollari con cedola 0% e mantiene 200 milioni di dollari di linee di credito non utilizzate.
ODDITY Tech (NASDAQ: ODD) reportó sólidos resultados en el segundo trimestre de 2025, con ingresos netos de 241 millones de dólares, un aumento del 25% interanual. La empresa alcanzó un EBITDA ajustado de 70 millones de dólares y un ingreso neto de 49 millones de dólares.
Las métricas financieras clave incluyen un margen bruto del 72,3%, un BPA diluido ajustado de 0,92 dólares y una sólida posición de efectivo de 815 millones de dólares. La compañía elevó sus perspectivas para todo el año 2025, proyectando ingresos entre 799 y 804 millones de dólares (crecimiento del 23-24%) y un EBITDA ajustado de 160 a 162 millones de dólares.
Los desarrollos estratégicos incluyen un crecimiento de dos dígitos para IL MAKIAGE y SpoiledChild, expansión internacional y avances en el lanzamiento de Brand 3 en el cuarto trimestre de 2025. La empresa completó una emisión de notas convertibles por 600 millones de dólares con cupón 0% y mantiene 200 millones de dólares en líneas de crédito no utilizadas.
ODDITY Tech (NASDAQ: ODD)는 2025년 2분기에 강력한 실적을 보고했으며, 순매출은 전년 대비 25% 증가한 2억 4,100만 달러를 기록했습니다. 회사는 조정 EBITDA 7,000만 달러와 순이익 4,900만 달러를 달성했습니다.
주요 재무 지표로는 72.3%의 총이익률, 조정 희석 주당순이익(EPS) 0.92달러, 그리고 견고한 현금 보유액 8억 1,500만 달러가 포함됩니다. 회사는 2025년 전체 연간 전망을 상향 조정하여 매출을 7억 9,900만~8억 400만 달러 (23~24% 성장)로, 조정 EBITDA를 1억 6,000만~1억 6,200만 달러로 예상하고 있습니다.
전략적 발전 사항으로는 IL MAKIAGE와 SpoiledChild의 두 자릿수 성장, 해외 시장 확장, 그리고 2025년 4분기 Brand 3 출시 진행이 포함됩니다. 회사는 0% 쿠폰의 6억 달러 교환사채 발행을 완료했으며, 2억 달러의 미사용 신용 한도를 유지하고 있습니다.
ODDITY Tech (NASDAQ : ODD) a annoncé de solides résultats pour le deuxième trimestre 2025, avec un chiffre d'affaires net atteignant 241 millions de dollars, en hausse de 25 % sur un an. La société a réalisé un EBITDA ajusté de 70 millions de dollars et un bénéfice net de 49 millions de dollars.
Les principaux indicateurs financiers comprennent une marge brute de 72,3 %, un BPA dilué ajusté de 0,92 dollar et une trésorerie robuste de 815 millions de dollars. L'entreprise a relevé ses prévisions pour l'ensemble de l'année 2025, anticipant un chiffre d'affaires compris entre 799 et 804 millions de dollars (croissance de 23 à 24 %) et un EBITDA ajusté de 160 à 162 millions de dollars.
Les développements stratégiques incluent une croissance à deux chiffres pour IL MAKIAGE et SpoiledChild, une expansion internationale et des progrès pour le lancement de Brand 3 au quatrième trimestre 2025. La société a finalisé une émission de notes échangeables de 600 millions de dollars avec un coupon à 0 % et dispose de 200 millions de dollars de lignes de crédit non utilisées.
ODDITY Tech (NASDAQ: ODD) meldete starke Ergebnisse für das zweite Quartal 2025 mit einem Nettoumsatz von 241 Millionen US-Dollar, was einem Anstieg von 25 % im Jahresvergleich entspricht. Das Unternehmen erzielte ein bereinigtes EBITDA von 70 Millionen US-Dollar und einen Nettoertrag von 49 Millionen US-Dollar.
Wichtige Finanzkennzahlen sind eine Bruttomarge von 72,3 %, ein bereinigtes verwässertes Ergebnis je Aktie von 0,92 US-Dollar sowie eine starke Barreserve von 815 Millionen US-Dollar. Das Unternehmen hob seine Prognose für das Gesamtjahr 2025 an und erwartet Umsätze zwischen 799 und 804 Millionen US-Dollar (Wachstum von 23-24 %) sowie ein bereinigtes EBITDA von 160 bis 162 Millionen US-Dollar.
Strategische Entwicklungen umfassen zweistelliges Wachstum bei IL MAKIAGE und SpoiledChild, internationale Expansion sowie Fortschritte beim Launch der Marke Brand 3 im vierten Quartal 2025. Das Unternehmen schloss eine 600-Millionen-Dollar-Exchangeable-Note-Emission mit 0 % Kupon ab und verfügt über 200 Millionen US-Dollar ungenutzte Kreditlinien.
- Net revenue increased 25% year-over-year to $241 million
- Strong gross margin of 72.3%, up 10 basis points from previous year
- Completed $600 million exchangeable note offering with 0% coupon
- Robust cash position of $815 million with additional $200 million in undrawn credit facilities
- Raised full-year guidance for revenue and earnings
- Double-digit online revenue growth for both main brands
- First half operating cash flow of $101 million
- Adjusted EBITDA margin decreased 350 basis points to 28.8%
- Net income margin declined to 20.4% from 23.6% year-over-year
- Adjusted net income margin decreased to 23.7% from 26.5%
Insights
ODDITY Tech posted strong Q2 results with 25% revenue growth and raised full-year guidance, signaling continued momentum.
ODDITY Tech delivered impressive Q2 results with
Profitability metrics are equally strong. Gross margin improved slightly to
The company's balance sheet is exceptionally strong with
Based on this momentum, management raised full-year guidance across all key metrics. Revenue is now projected at
The higher full-year outlook is particularly meaningful because management noted the remainder of the year is driven by "a high visibility backlog of repeat orders," suggesting strong customer retention and predictable revenue streams. Q3 has also started strong, with revenue guidance of
Looking ahead, ODDITY is expanding beyond beauty into healthcare, starting with dermatology through its upcoming "Brand 3" launch in Q4 2025. This strategic expansion into medical-grade products opens a substantial new addressable market. Meanwhile, "Brand 4" is in development for a 2026 launch, creating multiple growth vectors beyond the current product portfolio.
- Second quarter net revenue of
$241 million , up25% year-over-year - Second quarter adjusted EBITDA of
$70 million - Second quarter net income of
$49 million and second quarter adjusted net income of$57 million - First half operating cash flow of
$101 million and free cash flow of$99 million
NEW YORK, Aug. 04, 2025 (GLOBE NEWSWIRE) -- ODDITY Tech Ltd. (NASDAQ: ODD) today announced its financial results for the second quarter ended June 30, 2025.
“ODDITY’s momentum continued into the second quarter with yet another beat and raise across revenue, profit, and earnings per share. Our business is growing with high profitability, multiple engines, and long runways,” said Oran Holtzman, ODDITY co-founder and CEO. “These strong financials allow us to continue reinvesting in our future, including technology, ODDITY Labs, and building new brands”.
“The upcoming launch of Brand 3 opens up a massive new market for us with the expansion into medical grade products,” Holtzman continued. “Just as we used technology and our direct-to-consumer model to transform beauty, we are turning our sights towards health care, starting with dermatology, where we see a strong and profitable runway.”
ODDITY achieved a number of objectives during the second quarter, which include:
- Exceeding financial guidance across all metrics for the second quarter ended June 30, 2025.
- Double-digit online revenue growth for both IL MAKIAGE and SpoiledChild.
- Accelerating our international expansion.
- Progressing Brand 3 towards a formal launch in the fourth quarter of 2025.
- Progressing Brand 4 development towards launch in 2026.
- Ongoing development and expansion of the ODDITY LABS molecule discovery platform.
- Completing our first ever exchangeable note offering, upsized to
$600 million with a0% coupon. - A strong cash position on our balance sheet, including cash, cash equivalents and investments of
$815 million and undrawn credit facilities of$200 million as of June 30, 2025.
“We are pleased with our financial results for the second quarter, which beat our guidance on revenue, gross margin, adjusted EBITDA, and adjusted EPS. The third quarter is also off to a strong start,” said Lindsay Drucker Mann, ODDITY Global CFO. “The remainder of our year is driven mostly by a high visibility backlog of repeat orders. These factors altogether give us confidence to once again raise our full year outlook.”
Second Quarter Fiscal 2025 Financial Highlights1:
Results for the second quarter ended June 30, 2025 are presented below in comparison to the same period in the prior year:
- Net revenue was
$241 million compared to$193 million in the second quarter of 2024, representing a25% year-over-year increase. - Gross profit was
$174 million compared to$139 million in the second quarter of 2024, representing a25% year-over-year increase. Gross margin was72.3% , increasing by 10 bps compared to gross margin of72.2% in the second quarter of 2024. - Net income was
$49 million compared to$45 million in the second quarter of 2024. Net income margin was20.4% compared to23.6% in the second quarter of 2024. - Adjusted net income was
$57 million compared to$51 million in the second quarter of 2024, representing a12% year-over-year increase. Adjusted net income margin was23.7% compared to26.5% in the second quarter of 2024. - Adjusted EBITDA was
$70 million compared to$62 million in the second quarter of 2024, representing a12% year-over-year increase. Adjusted EBITDA margin was28.8% , decreasing by 350 bps compared to adjusted EBITDA margin of32.3% in the second quarter of 2024. - Diluted EPS were
$0.79 for the second quarter of 2025 compared to$0.73 in the second quarter of 2024. Adjusted diluted EPS were$0.92 for the second quarter of 2025 compared to$0.82 in the second quarter of 2024. - Cash and cash equivalents, restricted cash, short-term deposits and marketable securities were
$815 million .
1 Financial results have been rounded to the nearest million, unless indicated otherwise.
The table below sets forth our actual results for the three months ended June 30, 2025 and the low and high end of our guidance range regarding our results for the second quarter of 2025 as issued on April 29, 2025.
| Three months ended June 30, 2025 | |||
| Actual Results | Guidance Low End | Guidance High End | |
| Net Revenue | |||
| Gross Margin | |||
| Adjusted EBITDA | |||
| Adjusted Diluted EPS | |||
Financial Outlook
ODDITY is raising its financial outlook for the full year ending December 31, 2025:
- Net revenue between
$799 million and$804 million , representing year-over-year growth between23% and24% . - Gross margin of approximately
71% . - Adjusted EBITDA between
$160 million and$162 million . - Adjusted diluted EPS between
$2.06 and$2.09 . This assumes an effective tax rate of approximately19% .
| Current FY2025 Outlook | Prior FY2025 Outlook | |
| Net Revenue | ||
| Gross Margin | ||
| Adjusted EBITDA | ||
| Adjusted Diluted EPS |
ODDITY is providing the following guidance for the third quarter ending September 30, 2025:
- Net revenue between
$144 million and$146 million , representing year-over-year growth between21% and23% . - Gross margin of approximately
68% . - Adjusted EBITDA between
$26 million and$28 million . - Adjusted diluted EPS between
$0.33 and$0.36 . This assumes an effective tax rate of approximately20% .
| Q3 2025 Outlook | |
| Net Revenue | |
| Gross Margin | |
| Adjusted EBITDA | |
| Adjusted Diluted EPS |
Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, Adjusted net income margin, Adjusted diluted EPS and free cash flow are non-GAAP financial measures. Please see the sections titled “Non-GAAP Financial Measures” and “Reconciliations of GAAP to Non-GAAP Measures” below for more information regarding ODDITY’s use of non-GAAP financial measures and reconciliations to the most directly comparable GAAP measures. ODDITY has not provided a quantitative reconciliation of its Adjusted EBITDA and Adjusted diluted EPS outlook to the corresponding net income and diluted EPS GAAP measures, because the quantification of certain items included in the calculation of GAAP net income and GAAP diluted EPS cannot be calculated or predicted at this time without unreasonable efforts. ODDITY is unable to address the probable significance of the unavailable reconciling items, which could have a potentially unpredictable, and potentially significant, impact on its future GAAP financial results.
The financial outlook figures presented above are forward-looking statements that are subject to a variety of assumptions and estimates. Actual results may differ materially from ODDITY’s financial outlook as a result of, among other things, the factors described under “Forward-Looking Statements” below.
Conference Call Details:
A conference call to discuss ODDITY’s Q2 2025 financial and business results and outlook is scheduled for tomorrow, August 5, 2025, at 8:30 a.m. ET. To participate, please dial 1-800-717-1738 (US) or 1-412-317-6671 (international). To access the call, please reference the company name and call title: ODDITY Second Quarter 2025 Earnings Call. A webcast of the call will be accessible on the Investors section of ODDITY’s website at https://investors.oddity.com. A recording will be available shortly after the conclusion of the call. To access the replay, please dial 1-844-512-2921 (US) or 1-412-317-6671 (international). The access code for the replay is 1106918. An archive of the webcast will be available on the Investors section of ODDITY’s website.
Non-GAAP Financial Measures:
In addition to the GAAP financial measures set forth in this press release, ODDITY has included the following non-GAAP financial measures: Adjusted EBITDA, Adjusted EBITDA margin, Adjusted net income, Adjusted net income margin, Adjusted diluted EPS and free cash flow. ODDITY believes these non-GAAP financial measures provide useful supplemental information to management and investors to help evaluate ODDITY’s business, measure its performance, identify trends, prepare financial projections and make business decisions.
ODDITY defines “Adjusted EBITDA” as net income before financial income, net, taxes on income, and depreciation and amortization as further adjusted to exclude share-based compensation expense and non-recurring items. “Adjusted EBITDA margin” is defined as Adjusted EBITDA divided by net revenue. ODDITY believes Adjusted EBITDA and Adjusted EBITDA margin are useful for financial and operational decision-making and as a means to evaluate period-to-period comparisons. By excluding certain items that may not be indicative of its recurring core operating results, ODDITY believes that Adjusted EBITDA and Adjusted EBITDA margin provide meaningful supplemental information regarding its performance. In addition, Adjusted EBITDA and Adjusted EBITDA margin are widely used by investors and securities analysts to measure a company’s operating performance without regard to items such as depreciation and amortization, interest expense, and interest income, which can vary substantially from company to company depending on their financing and capital structures and the method by which their assets were acquired.
ODDITY defines “Adjusted net income” as net income adjusted for the impact of share-based compensation, non-recurring items, one-time tax gains/losses and the tax effect of non-GAAP adjustments and “Adjusted net income margin” as Adjusted net income divided by net revenue. In addition, ODDITY defines “Adjusted diluted earnings per share” as Adjusted net income divided by diluted shares outstanding. ODDITY believes the presentations of Adjusted net income, Adjusted net income margin, and Adjusted diluted earnings per share are useful because they are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Further, ODDITY believes these measures are helpful in highlighting trends in our operating results, because they exclude the impact of items that are outside the control of management or not reflective of our ongoing operations and performance.
ODDITY defines “free cash flow” as net cash provided by operating activities less purchase of property and equipment.
ODDITY’s non-GAAP financial measures should be considered in addition to, not as a substitute for or in isolation from, its financial results prepared in accordance with U.S. GAAP. Other companies, including companies in our industry, may calculate these measures differently or not at all, which reduces their usefulness as comparative measures.
Reconciliations of non-GAAP financial measures to the most directly comparable GAAP measures are included with the financial tables at the end of this release under the heading “Reconciliations of GAAP to Non-GAAP Measures.”
Forward-Looking Statements:
Certain statements in this press release may constitute “forward-looking” statements and information, within the meaning of Section 27A of the Securities Act of 1933, Section 21E of the Securities Exchange Act of 1934, and the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995 that relate to our current expectations and views of future events. In some cases, these forward-looking statements can be identified by words or phrases such as “aim,” “anticipate,” “believe,” “contemplate,” “continue,” “could,” “estimate,” “expect,” “goal,” “intend,” “may,” “objective,” “plan,” “potential,” “predict,” “project,” “shall,” “should,” “target,” “will,” “seek,” or similar words. The absence of these words does not mean that a statement is not forward-looking. These forward-looking statements address various matters, including ODDITY’s business strategy, market opportunity, ability to deliver superior products and experiences, potential long-term success and ODDITY’s outlook for the third quarter 2025 and the full year ending December 31, 2025. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to maintain the value of our brands; our ability to anticipate and respond to market trends and changes in consumer preferences; our ability to attract new customers, retain existing customers and maintain or increase sales to those customers; our ability to maintain a strong base of engaged customers and content creators; the loss of suppliers or shortages or disruptions in the supply of raw materials or finished products; our ability to accurately forecast customer demand, manage our inventory, and plan for future expenses; our future rate of growth; competition; the fluctuating cost of raw materials; the illegal distribution and sale by third parties of counterfeit versions of our products or the unauthorized diversion by third parties of our products; changes in, or disruptions to, our shipping arrangements; our ability to manage our growth effectively; a general economic downturn or sudden disruption in business conditions; our ability to successfully introduce and effectively market new brands, or develop and introduce new, innovative, and updated products; foreign currency fluctuations; product returns; our ability to execute on our business strategy; our ability to maintain a high level of customer satisfaction; our ability to comply with and adapt to changes in laws and regulatory requirements applicable to our business, including with respect to regulation of the internet and e-commerce, evolving AI-technology related laws, tax laws, the anti-corruption, trade compliance, anti-money laundering, and terror finance and economic sanctions laws and regulations, consumer protection laws, and data privacy and security laws; failure of our products to comply with quality standards and risks related to product liability claims; trade restrictions; existing and potential tariffs; any data breach or other security incident of our information technology systems, or those of our third-party service providers or cyberattacks; risks related to online transactions and payment methods; any failure to obtain, maintain, protect, defend, or enforce our intellectual property rights; conditions in Israel and the Middle East generally, including as a result of geopolitical conflict; the concentration of our voting power as a result of our dual class structure; our status as a foreign private issuer; and other risk factors set forth in the section titled “Risk Factors” in our Annual Report on Form 20-F filed with the Securities and Exchange Commission on February 25, 2025, and other documents filed with or furnished to the SEC. These statements reflect management’s current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements.
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 60 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:
press@oddity.com
Investor:
investors@oddity.com
| ODDITY TECH LTD. | ||||||||||||||||
| CONSOLIDATED STATEMENTS OF INCOME | ||||||||||||||||
| U.S. dollar in thousands (except per share data) | ||||||||||||||||
| Three months ended June 30, | Six months ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| (Unaudited) | ||||||||||||||||
| Net revenue | $ | 241,140 | $ | 192,774 | $ | 509,216 | $ | 404,402 | ||||||||
| Cost of revenue | 66,788 | 53,677 | 134,016 | 109,199 | ||||||||||||
| Gross profit | 174,352 | 139,097 | 375,200 | 295,203 | ||||||||||||
| Selling, general and administrative | 117,258 | 86,055 | 275,441 | 203,180 | ||||||||||||
| Operating income | 57,094 | 53,042 | 99,759 | 92,023 | ||||||||||||
| Financial income, net | (2,493 | ) | (3,670 | ) | (5,140 | ) | (6,625 | ) | ||||||||
| Income before taxes on income | 59,587 | 56,712 | 104,899 | 98,648 | ||||||||||||
| Taxes on income | 10,302 | 11,221 | 17,783 | 20,174 | ||||||||||||
| Net income | $ | 49,285 | $ | 45,491 | $ | 87,116 | $ | 78,474 | ||||||||
| Weighted-average number of shares - basic | 56,822 | 57,881 | 56,413 | 57,638 | ||||||||||||
| Weighted-average number of shares - diluted | 62,335 | 61,996 | 61,329 | 62,332 | ||||||||||||
| Basic earnings per share | $ | 0.87 | $ | 0.79 | $ | 1.54 | $ | 1.36 | ||||||||
| Diluted earnings per share | $ | 0.79 | $ | 0.73 | $ | 1.42 | $ | 1.26 | ||||||||
| ODDITY TECH LTD. | ||||||
| CONSOLIDATED BALANCE SHEETS | ||||||
| U.S. dollar in thousands | ||||||
| June 30, | December 31, | |||||
| 2025 | 2024 | |||||
| (Unaudited) | (Audited) | |||||
| ASSETS | ||||||
| CURRENT ASSETS: | ||||||
| Cash and cash equivalents | $ | 656,822 | $ | 50,340 | ||
| Short-term deposits | 1,000 | 48,000 | ||||
| Marketable securities | 20,857 | 1,880 | ||||
| Trade receivables | 10,766 | 9,188 | ||||
| Inventories | 94,234 | 99,810 | ||||
| Prepaid expenses and other current assets | 14,644 | 14,151 | ||||
| Total current assets | 798,323 | 223,369 | ||||
| LONG-TERM ASSETS: | ||||||
| Marketable securities | 136,077 | 68,831 | ||||
| Property, plant and equipment, net | 10,359 | 9,817 | ||||
| Deferred tax asset, net | 25,154 | 8,786 | ||||
| Intangible assets, net | 36,718 | 36,458 | ||||
| Goodwill | 64,904 | 64,904 | ||||
| Operating lease right-of-use assets | 22,819 | 23,567 | ||||
| Other assets | 3,545 | 3,150 | ||||
| Total long-term assets | 299,576 | 215,513 | ||||
| Total assets | $ | 1,097,899 | $ | 438,882 | ||
| ODDITY TECH LTD. | ||||||
| CONSOLIDATED BALANCE SHEETS | ||||||
| U.S. dollar in thousands | ||||||
| June 30, | December 31, | |||||
| 2025 | 2024 | |||||
| (Unaudited) | (Audited) | |||||
| LIABILITIES AND SHAREHOLDERS' EQUITY | ||||||
| CURRENT LIABILITIES: | ||||||
| Trade payables | $ | 72,969 | $ | 79,130 | ||
| Other accounts payable and accrued expenses | 46,178 | 38,566 | ||||
| Operating lease liabilities, current | 7,258 | 7,106 | ||||
| Total current liabilities | 126,405 | 124,802 | ||||
| LONG-TERM LIABILITIES: | ||||||
| Operating lease liabilities, non-current | 15,593 | 15,604 | ||||
| Exchangeable Note | 582,626 | - | ||||
| Other long-term liabilities | 22,040 | 16,172 | ||||
| Total liabilities | 746,664 | 156,578 | ||||
| SHAREHOLDERS' EQUITY: | ||||||
| Class A Ordinary shares | 15 | 14 | ||||
| Class B Ordinary shares | 3 | 3 | ||||
| Additional paid-in capital | 57,931 | 76,912 | ||||
| Accumulated other comprehensive income | 2,901 | 2,106 | ||||
| Retained earnings | 290,385 | 203,269 | ||||
| Total shareholders' equity | 351,235 | 282,304 | ||||
| Total liabilities and shareholders' equity | $ | 1,097,899 | $ | 438,882 | ||
| ODDITY TECH LTD. | ||||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
| U.S. dollars in thousands | ||||||||
| Six months ended June 30, | ||||||||
| 2025 | 2024 | |||||||
| (Unaudited) | ||||||||
| Cash flows from operating activities: | ||||||||
| Net income | $ | 87,116 | $ | 78,474 | ||||
| Adjustments to reconcile net income to net cash provided by operating activities: | ||||||||
| Depreciation and amortization | 5,308 | 4,598 | ||||||
| Share-based compensation | 16,853 | 13,821 | ||||||
| Deferred income taxes | (1,109 | ) | (2,843 | ) | ||||
| Increase in trade receivables | (1,578 | ) | (1,721 | ) | ||||
| (Increase) decrease in prepaid expenses and other receivables | (422 | ) | 404 | |||||
| Decrease (increase) in inventories | 5,576 | (4,472 | ) | |||||
| (Decrease) increase in trade payables | (7,315 | ) | 2,288 | |||||
| (Decrease) increase in other accounts payable and accrued expenses and other long-term liabilities | (3,191 | ) | 16,512 | |||||
| Change in operating lease right-of-use assets | 3,911 | 2,295 | ||||||
| Change in operating lease liability | (2,872 | ) | (2,300 | ) | ||||
| Other | (893 | ) | (1,616 | ) | ||||
| Net cash provided by operating activities | 101,384 | 105,440 | ||||||
| Cash flows from investing activities: | ||||||||
| Purchase of property, plant and equipment | (1,951 | ) | (1,502 | ) | ||||
| Capitalization of software development costs | (2,861 | ) | (2,284 | ) | ||||
| Maturities of (investment in) short-term deposits | 47,000 | (1,189 | ) | |||||
| Investment in marketable securities, net | (81,224 | ) | (50,024 | ) | ||||
| Other investing activities | (580 | ) | (519 | ) | ||||
| Net cash used in investing activities | (39,616 | ) | (55,518 | ) | ||||
| Cash flows from financing activities: | ||||||||
| Proceeds from issuance of exchangeable notes, net of issuance costs | 583,500 | - | ||||||
| Purchase of capped calls | (50,592 | ) | - | |||||
| Proceeds from exercise of options | 11,444 | 8,645 | ||||||
| Purchase of Class A Ordinary shares | - | (10,356 | ) | |||||
| Net cash provided by (used in) financing activities | 544,352 | (1,711 | ) | |||||
| Effect of exchange rate fluctuations on cash and cash equivalents | 432 | 8 | ||||||
| Net increase in cash, cash equivalents and restricted cash | 606,552 | 48,219 | ||||||
| Cash, cash equivalents and restricted cash at the beginning of the period | 50,347 | 38,766 | ||||||
| Cash, cash equivalents and restricted cash at the end of the period | $ | 656,899 | $ | 86,985 | ||||
| ODDITY TECH LTD. | ||||||
| CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||
| U.S. dollars in thousands | ||||||
| Six months ended June 30, | ||||||
| 2025 | 2024 | |||||
| (Unaudited) | ||||||
| Supplemental disclosures of non-cash investing and financing activities: | ||||||
| Issuance costs of exchangeable note and purchase of capped call accrued but not yet paid | $ | 13,802 | $ | - | ||
| ODDITY TECH LTD. | |||||||||||||||
| Reconciliation of GAAP to Non-GAAP Measures | |||||||||||||||
| U.S. dollars in thousands | |||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||
| (Unaudited) | (Unaudited) | ||||||||||||||
| Reconciliation of Net Income and Adjusted EBITDA | |||||||||||||||
| Net Income | $ | 49,285 | $ | 45,491 | $ | 87,116 | $ | 78,474 | |||||||
| Financial income, net | (2,493 | ) | (3,670 | ) | (5,140 | ) | (6,625 | ) | |||||||
| Taxes on Income | 10,302 | 11,221 | 17,783 | 20,174 | |||||||||||
| Depreciation and amortization | 2,653 | 2,297 | 5,308 | 4,598 | |||||||||||
| Share-based compensation | 9,769 | 6,959 | 16,853 | 13,821 | |||||||||||
| Adjusted EBITDA | $ | 69,516 | $ | 62,298 | $ | 121,920 | $ | 110,442 | |||||||
| Reconciliation of Net Income and Adjusted Net Income | |||||||||||||||
| Net Income | $ | 49,285 | $ | 45,491 | $ | 87,116 | $ | 78,474 | |||||||
| Share-based compensation | 9,769 | 6,959 | 16,853 | 13,821 | |||||||||||
| Tax adjustments1 | (1,974 | ) | (1,361 | ) | (5,080 | ) | (2,826 | ) | |||||||
| Adjusted Net Income | $ | 57,080 | $ | 51,089 | $ | 98,889 | $ | 89,469 | |||||||
| Diluted earnings per share | $ | 0.79 | $ | 0.73 | $ | 1.42 | $ | 1.26 | ||||
| Adjusted diluted earnings per share | $ | 0.92 | $ | 0.82 | $ | 1.61 | $ | 1.44 | ||||
(1) Represents the tax impact of (a) the reconciling items above and (b) other discrete tax items.
Reconciliation of net cash provided by operating activities to free cash flow
| Six Months Ended June 30, | |||||||
| 2025 | 2024 | ||||||
| (Unaudited) | |||||||
| Net operating cash flow | $ | 101,384 | $ | 105,440 | |||
| Purchase of property and equipment | (1,951 | ) | (1,502 | ) | |||
| Free cash flow | $ | 99,433 | $ | 103,938 | |||
| ODDITY TECH LTD. | |||||
| Supplemental Financial Information | |||||
| U.S. dollars in thousands | |||||
| Cash, cash equivalents, and investments | |||||
| June 30, | December 31, | ||||
| 2025 | 2024 | ||||
| (Unaudited) | (Audited) | ||||
| Cash and cash equivalents | $ | 656,822 | $ | 50,340 | |
| Short-term deposits and restricted cash | 1,077 | 48,007 | |||
| Marketable securities | 156,934 | 70,711 | |||
| Total cash and investments | $ | 814,833 | $ | 169,058 | |
| Net revenue by sales channel | |||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | ||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||
| (Unaudited) | (Unaudited) | ||||||||||
| Online direct-to-consumer | |||||||||||
| Percent of net revenue | |||||||||||
| Other (Israel retail, marketing affiliates) | |||||||||||
| Percent of net revenue | |||||||||||
| Net Revenue | |||||||||||
Note: ODDITY does not sell to resellers or distributors. Online direct-to-consumer revenues are generated directly by ODDITY through its online platform only (i.e. ILMAKIAGE.com and SpoiledChild.com). All revenue in Israel, including revenue generated in stores, online, and from beauty academies, is included in Other.
FAQ
What were ODDITY Tech's (ODD) Q2 2025 earnings results?
What is ODDITY Tech's (ODD) full-year 2025 guidance?
How much cash does ODDITY Tech (ODD) have as of Q2 2025?
What are ODDITY Tech's (ODD) major business developments in Q2 2025?
What is ODDITY Tech's (ODD) Q3 2025 guidance?
