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) 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.
ODDITY Tech (NASDAQ: ODD) reported record first quarter results for 2024, with net revenue reaching $212 million, a 28% increase year-over-year. Net income rose to $33 million, a 68% increase, and adjusted net income reached $38 million, an 82% increase. The company also achieved a record adjusted EBITDA of $48 million and free cash flow of $79 million. ODDITY exceeded financial guidance, showing excellent growth at key brands, and strengthening its balance sheet with $252 million in cash and no debt.
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