Oddity Il Makiage
Coutesy: Oddity
Oddity Tech released preliminary third-quarter results on Monday that show expected revenue growth of 29% to 31%, driven by repeat sales at its Il Makiage and Spoiled Child brands.
The newly public retailer, which started trading on the Nasdaq in July and uses artificial intelligence to develop products, had previously expected sales to grow by about 20.5% in the three months ended Sept. 30.
The Tel Aviv-based company didn’t share its exact sales figure for the quarter, but in the year ago period, it posted $68.9 million in revenue, finance chief Lindsay Drucker Mann told CNBC.
In addition, the company is now expecting a gross margin of 68.5% for the period, one percentage point higher than its previous guidance of 67.5%, and margins on its adjusted earnings before interest, tax, depreciation and amortization to be at the high end of its previous range. Oddity is now expecting an adjusted EBITDA margin of between 21% to 21.5%, compared to its initial…
2023-10-02 15:12:21
Source from www.cnbc.com