Waldencast plc Announces Net Revenue In FY22 Was $92.4M For The Period July 28, 2022 To December 31, 2022, As Of December 31, 2022 Cash And Cash Equivalents Were $8.7M
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Waldencast plc (NASDAQ:WALD) reported FY22 net revenue of $92.4M for the period from July 28 to December 31, 2022. The company completed a business combination with Obagi Skincare and Milk Makeup in 2022, resulting in a combined group net revenue of $207.4M, a 9.4% increase from the previous year. However, Waldencast recognized a net loss of $(120.6)M during the 2022 Successor Period, including a goodwill impairment for Obagi Skincare of $68.7M. Milk Makeup showed strong performance with a 54% revenue increase and positive Adjusted EBITDA. As of December 31, 2022, Waldencast had $8.7M in cash and equivalents and completed a $70M private placement in September 2023 to improve its capital structure.
January 16, 2024 | 8:03 pm
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NEUTRAL IMPACT
Waldencast plc reported a significant net loss for FY22, but showed revenue growth post-merger with Obagi Skincare and Milk Makeup. Milk Makeup's strong performance and the recent capital structure improvement could be positive signals for investors.
The reported net loss for FY22, including a significant goodwill impairment, is likely to concern investors and could put downward pressure on the stock price. However, the revenue growth and strong performance of Milk Makeup, along with the successful private placement, may offset some of the negative impact and provide a neutral outlook in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100