By Karen Roman
Waldencast plc (Nasdaq: WALD), a multi-brand beauty and wellness company, said comparable net revenue increased 21% year over year to $68.3 million in the first quarter.
Adjusted gross profit grew 32.9% reaching $52.1 million in the quarter due to greater e-commerce sales, while its quarterly net loss was $3.9 million in comparison to $13.2 million a year earlier.
The company’s adjusted EBITDA was 16.6% of net revenue or $11.4 million, in contrast with an EBITDA margin of 16.9% last year, it said.
“We enter the second quarter with significant momentum and a strengthened operational platform which will allow us to profitably accelerate further our top line,” said Michel Brousset, Waldencast’s founder and CEO. “I want to thank the Waldencast team for their commitment and passion that enabled the delivery of this performance.”
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