Overview
- Net sales fell 3.8% to $114.6 million, topping analyst estimates near $110 million, with GAAP EPS of $0.02 and net income of $11.1 million.
- Channel performance diverged: specialty retail declined 13.5% to $36.9 million, professional grew 5.3% to $44.5 million, and direct-to-consumer slipped 2.9% to $33.3 million.
- Geographically, U.S. revenue dropped 14.6% as international sales increased 7.1%.
- Full-year revenue guidance was reconfirmed around a $420.5 million midpoint, while operating margin contracted to 3.7% from 23.5% a year earlier.
- Olaplex disclosed the acquisition of Boston-based Purvala Bioscience to bolster R&D; shares rose as much as 6.5% after the report before settling to a smaller gain, leaving the stock down roughly 35% for the year.