In a remarkable display of resilience and growth, Oddity Tech's stock has soared to a 52-week high, reaching a price level of $50.69. The company, now valued at $2.74 billion, has demonstrated impressive financial strength with a robust gross profit margin of 71.85% and substantial revenue growth of 29.59% over the last twelve months. This milestone underscores the company's robust performance and investor confidence, reflecting a significant 1-year change with an impressive 33.5% increase. The surge to this new high indicates a strong market position for Oddity Tech, as it outpaces many of its competitors and continues to innovate in its sector. InvestingPro analysis suggests the stock is slightly overvalued at current levels, though analysts maintain a bullish outlook. Investors are closely monitoring the stock, as its current trajectory suggests a positive outlook for the company's financial future. For deeper insights and 12 additional ProTips on Oddity Tech, explore InvestingPro.
In other recent news, beauty industry leader ODDITY has reported significant growth and an optimistic outlook. The company's third quarter 2024 earnings call revealed a robust 27% revenue increase year-to-date, reaching $523 million, along with an adjusted EBITDA of $135 million and $119 million in free cash flow. ODDITY's direct-to-consumer model has proven resilient, particularly benefiting from the ongoing shift to online sales in the beauty market.
ODDITY's Q3 revenue rose 26% to $119 million, surpassing guidance, largely driven by its brands IL MAKIAGE and SpoiledChild. The company has also raised its full-year 2024 revenue guidance to $642-$644 million, with a projected adjusted EBITDA between $147 million and $149 million. Notably, ODDITY is set to launch two new brands in 2025 and is investing in technology and product innovation through ODDITY LABS.
The company has successfully expanded internationally, notably in Canada, the U.K., Germany, and Australia, with a long-term vision of these markets potentially comprising over 50% of the business. However, ODDITY has no immediate plans for further international expansion and is currently not planning to enter the GLP drug market. ODDITY maintains a strong financial position with $248 million in cash and no debt, and has repurchased approximately $50 million of its stock this year. These are some of the recent developments shaping ODDITY's performance and strategic direction.
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