ODDITY Tech Ltd. (ODD) stock soared 5.6% intraday on Thursday, fueled by the company's impressive fourth-quarter 2024 financial results and optimistic outlook for 2025.
The tech-driven beauty company reported a remarkable 27% year-over-year increase in revenue to $647 million for 2024. Additionally, adjusted EBITDA soared 40% to $150 million, reflecting robust profitability. ODDITY Tech also generated a strong free cash flow of $134 million, showcasing its solid financial position.
Both of ODDITY Tech's brands, Il Makiage and Spoiled Child, experienced double-digit revenue growth, with Il Makiage surpassing $500 million in revenue. The company is expanding its international presence, eyeing promising markets like the UK, Germany, and Australia.
Furthermore, ODDITY Tech's management set an ambitious target for 2025, projecting a 20% revenue growth and an adjusted EBITDA margin of 20%. This outlook, coupled with the company's consistent earnings beat and plans to launch a new telehealth brand, Brand 3, has bolstered investor confidence.
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