![]() In a regulatory filing, Holtzman touted the company's workforce and said 40% of its global head count is comprised of technologists, many of whom were recruited from the Israeli Defense Forces' best technology units. On average, Oddity's gross sales have doubled each year since 2018, the company has said. In the three months that ended March 31, its gross margins were 71%, up 4 percentage points from 67% in the year-ago period. In 2020, it saw $110.6 million in sales and net income of $11.7 million, or 22 cents a share. In the year prior, the retailer saw $222.6 million in revenue and net income of $13.9 million, or 26 cents a share. In fiscal 2022, Oddity brought in $324.5 million in sales and saw net income of $21.7 million, or 39 cents a share. It reported net income of $19.6 million, or 35 cents a share, compared with about $3 million, or 5 cents a share, a year earlier. In the three months ended March 31, the company saw $165.7 million in revenue, up from $90.4 million in the year-ago period. At the same time as that, they've been profitable from a very early stage and that message resonated extraordinarily well with investors." "They've been growing at extraordinary clips and the fastest in the category online. "They still have tremendously high growth so yes, it's profitable, but they've really demonstrated that they can do both, it hasn't been a trade off of one versus the other," Farello, whose firm first invested in Oddity in 2017, told CNBC. Michael Farello, a managing partner of L Catterton's growth fund, said Oddity's ability to achieve growth, scale and profitability is what made the company a unique and attractive investment. But as the macroeconomic backdrop has worsened, that's no longer the case, and investors are laser-focused on earnings. When interest rates were at record lows two years ago, companies that could demonstrate hyper growth were able to win over investors even if they weren't yet profitable. That's been a key driver of investor interest as the IPO market rebounds from a lull. Oddity stands out as a rare DTC brand with both impressive growth and profits already on the books. Personal Loans for 670 Credit Score or Lower Personal Loans for 580 Credit Score or Lower ![]() ![]() Best Debt Consolidation Loans for Bad Credit ![]()
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