Waldencast plc (WALD) Market Cap
Waldencast plc has a market capitalization of $118.2M.
Financials based on reported quarter end 2025-12-31
Price: $1.00
▼ -0.03 (-2.91%)
Market Cap: 118.24M
NASDAQ · time unavailable
CEO: Michel Brousset
Sector: Technology
Industry: Software - Application
IPO Date: 2021-05-12
Website: http://www.waldencast.com
Waldencast plc (WALD) - Company Information
Market Cap: 118.24M · Sector: Technology
Waldencast Acquisition Corp. a skin care company, provides advanced skin care treatments. Its products are designed to help minimize the appearance of premature skin aging, skin damage, hyperpigmentation, acne, and sun damage primarily available through dermatologists, plastic surgeons, medical spas, and other skin care professionals. Its portfolio includes Obagi Medical that provides transformational skin care products formulated to minimize signs of skin aging, address dark spots, hyperpigmentation, fine lines, and wrinkles and to protect and enhance skin tone and texture; and Obagi Clinical that offers skin care products designed to prevent the early signs of skin aging. The company was founded in 1988 and is based in White Plains, New York.
Analyst Sentiment
Based on 4 ratings
Analyst 1Y Forecast: $3.38
Average target (based on 3 sources)
Consensus Price Target
Low
$2
Median
$3
High
$3
Average
$3
Potential Upside: 150.0%
Price & Moving Averages
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Fundamentals Overview
📊 AI Financial Analysis
Powered by StockMarketInfo"WALD reported revenue of $139.8M in December 2025, with a net loss of $60.3M and an EPS of -$0.51. The company's total assets stand at $816.2M against liabilities of $316.1M, resulting in total equity of $500.1M. WALD operates at a negative cash flow, with operating cash flow at -$1.3M and free cash flow at -$2.15M, while not paying any dividends. The stock is currently valued at $1.13, with a significant decline of 64.13% over the past year. The price target consensus is at $2.5. The company is facing challenges in profitability and cash flow management, reflected in its negative earnings and high net losses. Despite its substantial asset base, the continuous losses may concern investors about future cash flows and potential returns. A careful examination of growth strategies and financial management practices will be crucial for recovery."
Revenue Growth
Revenue growth is moderate but overshadowed by net losses.
Profitability
Negative net income and EPS indicate significant profitability challenges.
Cash Flow Quality
Negative operating and free cash flow raise concerns.
Leverage & Balance Sheet
Strong equity position relative to liabilities provides some stability.
Shareholder Returns
No dividends and significant stock price decline reflect poor returns.
Analyst Sentiment & Valuation
Analysts view the stock as undervalued, but concerns about performance remain.
Disclaimer:This analysis is AI-generated for informational purposes only. Accuracy is not guaranteed and this does not constitute financial advice.
So What? WALD reported solid gross margin and EBITDA quality, but the quarter’s story is constrained by execution: Obagi’s Q1 supply-chain restructuring caused out-of-stocks in 3–4 key items (hurting fulfillment/growth), while Milk also faced stockouts when Hydro Grip demand beat forecasts. Management’s tone is confident on acceleration (mid-teens revenue growth and mid–high teens EBITDA margin), and they stress product availability improvement by end of Q2 after moving to a one-step/online-integrated warehousing flow. Tariff risk is framed as manageable: guidance assumes low single-digit COGS impact for all of 2025 and mitigation via supply-chain flow changes, potential low single-digit selective pricing, and supplier efficiency work; China exposure is ~10% of COGS. In the Q&A, analyst pressure focused on operational reliability, physician-channel demand drivers, and price strategy; mgmt largely attributed issues to timing/distribution mechanics and the transitional nature of restructuring—not demand collapse—yet the concrete out-of-stock disclosures make near-term delivery the key swing factor.
Growth Catalysts
- Milk Makeup: Hydro Grip Gel Skin Tint launched in March; sold out quickly due to demand > sales forecast
- Milk Makeup: Ulta Beauty launch (sales beginning late February); US retail sales growth described as high single-digit
- Obagi Medical: Out-of-stock issues expected to improve as supply chain transformation completes; mgmt expects stronger inventory by end of Q2
- Obagi Medical: Lapped transition to first-party model with primary e-commerce distributor
- Obagi Medical: Updated obagi.com elements drove +30% homepage conversion (Q1 YoY), plus +61% YoY earned media value
Business Development
- Milk Makeup partnership with Nike (Nike Dark Tour in Los Angeles; started at Milk Studios in March; continues through Race weekend in June)
- Milk Makeup expanded distribution into Ulta Beauty (initially 600 doors; evaluating expansion within Ulta/at Target based on early results)
- Ulta and Sephora cited as key retail/digital touchpoints for sell-in vs sell-out dynamics
Financial Highlights
- Net revenue: $65.4M, down 4.1% YoY
- Adjusted gross margin: 76.4%, up 10 bps YoY
- Adjusted EBITDA: $4.4M, 6.7% margin
- Milk Makeup: revenue down 15.1% YoY; adjusted gross margin 69.5% = +460 bps sequentially from Q4, but -180 bps YoY
- Milk Makeup: adjusted EBITDA margin 14.9% of net revenue
- Obagi Medical: net revenue $36.2M, up 7.1% YoY; adjusted gross margin up 60 bps to 82%
- Obagi Medical: adjusted EBITDA $5.9M, 16.3% margin (higher marketing investment + higher supply chain costs)
- Key Q&A operational hurdle: Obagi out-of-stocks in 3–4 key items due to restructuring/supply chain disruption; Milk also experienced stockouts tied to Hydro Grip demand
- Tariffs: mgmt assumes tariffs remain for all of 2025; expects low single-digit % increase in fiscal 2025 COGS, already reflected in guidance
- Mitigation (tariffs): optimize supply chain flows to reduce China exposure; prepare selective pricing likely low single-digit range; deepen supplier collaboration for efficiencies
Capital Funding
- Cash: $10.8M at quarter end
- Revolver availability: additional $22.5M on new revolving credit facility
- Net debt: $172.1M vs $154.2M at end of 2024 (increase tied to refinancing cost; maturity profile extended to March 2030)
- Share count: 123M shares outstanding as of April 30, 2025
- No buyback amount disclosed in transcript
Strategy & Ops
- Supply chain transformation: consolidating third-party logistics providers and optimizing distribution center network (Obagi)
- Operational change described in Q&A: streamlined flow from two-step warehousing to one-step; integrated with online warehousing (caused some Q1 disruption moving inventory between locations)
- Mgmt goal for flexibility: improve lead times/inflexibility to respond to demand peaks driven by marketing and selling activities
Market Outlook
- Full-year guidance: net revenue growth in the mid-teens
- Full-year guidance: adjusted EBITDA margin in the mid to high-teens
- Tariff assumption: no further material change to current tariffs
- Operational expectation: improved product availability by end of Q2
Risks & Headwinds
- Obagi: restructuring supply chain disruptions leading to lower fulfillment rates and out-of-stocks on key products (explicitly cited as 3–4 key items); this dampened growth
- Milk: stockouts as Hydro Grip Skin Tint demand exceeded expectations (inventory not available to fully meet sell-through early)
- Macro/retail: decelerating beauty market and fluid macro/retail environment; pressure from softer consumer sentiment and spending
- Physician channel: mgmt did not cite a broad physician-demand slowdown; slowdown attributed to loss of Amazon tailwinds from prior-year distributor conversion transition
- Sell-in vs sell-out pressures (Milk): EU pressure (retail partners transitioning inventory); U.S. digital channel anniversarying last year’s Jelly’s launch drove complexity in sell-through dynamics
- Tariffs/cost: China exposure limited to ~10% of total COGS; mgmt indicated worst-case China tariff back to 145% would still be not material; potential selective pricing only if needed
Sentiment: MIXED
Note: This summary was synthesized by AI from the WALD Q1 2025 earnings transcript. Financial data is complex; please verify all metrics against official SEC filings before making investment decisions.