Overview

• Waldencast postponed its second‑quarter and first‑half 2025 earnings release to complete additional analysis tied to a newly launched strategic review.
• The company lowered full‑year guidance to low‑to‑mid single‑digit net revenue growth and adjusted EBITDA margins in the low‑to‑mid teens.
• Management pointed to out‑of‑stock issues, exits from certain Obagi distribution points, and soft international demand as key earnings headwinds.
• Milk Makeup delivered strong U.S. sell‑through with estimated high‑20 percent growth, aided by launches at Ulta Beauty and on Amazon, while Obagi Medical posted mid‑teens revenue growth in U.S. channels.
• Lazard has been retained to evaluate strategic alternatives, with Waldencast warning there is no assurance of any transaction and stating it aims to file its H1 2025 financials within regulatory deadlines.