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- Oddity Tech (NASDAQ:ODD) is up 16% after boosting its 2024 revenue and EPS outlook as well as posting Q1 results that beat on both lines.
- The tech-focused beauty and wellness company now sees full-year adjusted diluted EPS of $1.57-$1.62, up from $1.49-$1.54 prior. Consensus is $1.51.
- Revenue is now projected at $626M-$635M, up from $620-$630M before. Consensus is $626.44M.
- In the quarter, adjusted net income soared ~82% year over year to ~$38.4M. Adjusted diluted earnings per share grew to $0.61 from $0.37.
- At the end of the quarter (March 31), the company reported $77.5M in cash and cash equivalents, a 112% increase from Dec. 31, 2023.
- Oddity Tech noted that development is continuing on brands 3 and 4, its yet unnamed new product lines. The company’s current lines are Il Makiage and SpoiledChild.
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