Welcome to our dedicated page for Oddity Tech Ltd. news (Ticker: ODD), a resource for investors and traders seeking the latest updates and insights on Oddity Tech Ltd. stock.
Oddity Tech Ltd (NASDAQ: ODD) delivers AI-powered innovation in beauty and wellness through its digital-first platform. This hub provides investors and industry professionals with essential updates on corporate developments, financial performance, and technological advancements.
Access real-time press releases covering earnings announcements, product launches, strategic partnerships, and executive leadership updates. Our curated collection ensures you stay informed about ODD's market-moving initiatives in consumer tech and data-driven beauty solutions.
Discover updates on SpoiledChild skincare innovations, IL MAKIAGE product expansions, and breakthroughs from ODD's biotechnology labs. All content is verified for accuracy and presented in chronological order for efficient research.
Bookmark this page for ongoing insights into how Oddity Tech continues reshaping global beauty markets through its unique blend of artificial intelligence, direct-to-consumer strategies, and scientific research.
ODDITY Tech (NASDAQ: ODD) announced the acquisition of Fionic1's tech intellectual property and AI research team. Fionic1, a fintech company known for advanced AI modeling capabilities, will integrate its specialized algorithms into ODDITY’s operations. The acquisition includes Asaf Nurick, Fionic’s co-founder and former CTO, along with core AI R&D team members. This move aims to enhance ODDITY's AI models, particularly in direct-to-consumer applications.
ODDITY’s CEO Oran Holtzman emphasized the strategic importance of this acquisition for expanding their AI capabilities, aiming to deliver superior consumer products and experiences. Asaf Nurick expressed enthusiasm about leveraging ODDITY’s platform to advance predictive technology. The transaction is not expected to significantly affect ODDITY’s financial position, liquidity, or 2025 earnings outlook.
ODDITY Tech (NASDAQ: ODD) has agreed to repurchase approximately 2.35 million Class A Ordinary Shares from L Catterton for $100 million at $42.501 per share. The transaction will be funded from existing cash resources and is separate from the company's ongoing $150 million share buyback plan announced in June 2024. Post-transaction, L Catterton will retain approximately 4 million shares (7% ownership). Year-to-date, ODDITY will have repurchased $147 million in shares. The company reports strong financials with $248 million in cash and equivalents, an undrawn $100 million credit facility, no debt, and $127 million in free cash flow for the 12 months ending September 2024.
Oddity Tech reported strong Q3 2024 results with record net revenue of $119 million, up 26% year-over-year. The company achieved record Q3 adjusted EBITDA of $25 million and net income of $18 million, up 362% year-over-year. Nine-month performance showed net revenue of $523 million, up 27% year-over-year, with adjusted EBITDA of $135 million. The company raised its full-year 2024 outlook, projecting net revenue between $642-644 million and adjusted EBITDA between $147-149 million. With zero debt and $248 million in cash and equivalents, Oddity maintains a strong financial position.
ODDITY Tech (NASDAQ: ODD), the consumer tech platform behind IL MAKIAGE and SpoiledChild, has announced it will release its third quarter 2024 financial results after market close on November 6, 2024. This will be followed by a conference call on November 7, 2024, at 8:30 a.m. Eastern Time.
To participate in the conference call, dial 1-800-717-1738 (US) or 1-646-307-1865 (international) with access code 24334. A webcast will be available on ODDITY's investor website. For those unable to attend, a recording will be accessible by dialing 1-844-512-2921 (US) or 1-412-317-6671 (international) with access code 1124334. The webcast archive will remain available on ODDITY's investor website for seven days post-call.
ODDITY Tech (NASDAQ: ODD) reported record Q2 2024 results, surpassing guidance across all metrics. Net revenue reached $193 million, up 27% year-over-year, while adjusted EBITDA hit $62 million, a 49% increase. Net income grew 52% to $45 million, with adjusted net income up 58% to $51 million. The company generated $104 million in free cash flow for H1 2024.
ODDITY raised its full-year 2024 outlook, projecting net revenue between $633-640 million (24-26% YoY growth) and adjusted EBITDA of $142-146 million. The company announced Ido Bachelet as Chief Science Officer to lead ODDITY LABS in Boston. With a strong balance sheet including $268 million in cash and zero debt, ODDITY has begun share buybacks, repurchasing 250,000 shares for $10 million.
ODDITY Tech (NASDAQ: ODD), the consumer tech platform behind IL MAKIAGE and SpoiledChild, has announced it will release its second quarter 2024 financial results on August 7, 2024, after market close. This will be followed by a conference call on August 8, 2024, at 8:30 a.m. Eastern Time.
Investors can participate in the conference call by dialing 1-800-343-5172 (US) or 1-203-518-9856 (international) with the access code ODDITY. A webcast will be available on ODDITY's investor relations website. For those unable to attend, a replay will be accessible by dialing 1-844-512-2921 (US) or 1-412-317-6671 (international) with the access code 11156442.
ODDITY Tech (ODD) has appointed Yehoshua (Shuki) Nir as an independent Director and member of the Audit Committee, effective immediately. Oran Holtzman, co-founder and CEO of ODDITY, expressed enthusiasm for Nir's addition to the board, citing his broad experience as both director and executive as an invaluable asset.
Mr. Nir brings over two decades of strategic leadership experience to ODDITY's board. He currently serves as Chief Marketing Officer of SolarEdge Technologies, and holds directorships at Kornit Digital and Cardo Systems. His past roles include co-founding and serving as CEO of MindEcho, as well as holding strategic positions in various tech companies. Nir's educational background includes an MBA, LLB, and BA in Accounting from Tel Aviv University.
ODDITY Tech has announced a $150 million share buyback program, set to expire on June 30, 2027. The company has over $250 million in cash and investments and no debt, with an additional $100 million credit facility. Updated Q2 2024 guidance indicates revenue at the top end of the range with net revenue projected at $189 million, a 25% year-over-year growth. Gross margin is expected at 71%, Adjusted EBITDA at $60 million, and Adjusted Diluted EPS at $0.69.
ODDITY Tech (NASDAQ: ODD) announced a share buyback program, authorizing the repurchase of up to $150 million of its Class A Ordinary Shares, effective until June 30, 2027. The company holds over $250 million in cash, cash equivalents, and investments, with no financial debt and an additional $100 million in an undrawn credit facility. Due to the approval of the Buyback Plan, ODDITY has updated its Q2 2024 guidance: net revenue is projected to be approximately $189 million, a 25% year-over-year growth. The company also forecasts adjusted EBITDA of about $60 million and adjusted diluted EPS of $0.69, exceeding prior estimates.
ODDITY Tech (NASDAQ: ODD) has responded to a short seller report by NINGI Research, published on May 21, 2024. The company disputes the report's allegations, particularly the assertion that its Israeli brick-and-mortar business significantly contributes to its revenue and EBITDA. ODDITY clarified that this segment represents less than 5% of its Net Revenue and EBITDA in FY2023 and Q1 2024. The company also highlighted that its Israeli operations are fully audited by Ernst & Young, and any small-claims lawsuits mentioned in the report are minor, totaling less than $100,000. ODDITY emphasized its commitment to using technology to enhance customer experience and drive profitability, with the majority of its revenue coming from online sales. The company serves around 50 million users through its AI-driven platform.