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OLPX Nasdaq· Olaplex Holdings Inc
Earnings report Q3 2023

OLAPLEX Holdings Reports Decrease in Revenue for the Latest Quarter

Segments of revenue

OLAPLEX Holdings, Inc. reported net sales of $123.6 million for the three months ended September 30, 2023. This represents a decrease of 30.0% compared to the same period last year when net sales were $176.5 million.

Strengths

Despite the decrease in revenue, OLAPLEX Holdings, Inc. continues to generate a significant amount of gross profit. The company reported a gross profit of $83.5 million for the latest quarter, representing a gross profit margin of 67.6%. This indicates that the company is able to maintain a strong profitability despite the decline in sales.

Challenges

The decrease in revenue for the latest quarter can be attributed to a decline in net sales across all segments. The cost of product, excluding amortization, also increased as a percentage of net sales, indicating potential challenges in managing production costs.

Noteworthy

It is worth noting that OLAPLEX Holdings, Inc. experienced a significant decrease in net income for the nine months ended September 30, 2023. Net income for the period was $47.5 million, compared to $210.4 million in the same period last year. This decrease in net income can be attributed to the decline in revenue and higher operating expenses.

Summary

OLAPLEX Holdings, Inc. reported a decrease in revenue for the latest quarter, with net sales declining by 30.0% compared to the same period last year. Despite the decline in sales, the company continues to generate a strong gross profit margin. However, challenges in managing production costs and higher operating expenses have impacted the company's net income, which experienced a significant decrease for the nine months ended September 30, 2023.

Source documents

Form 10-Q  filed on Nov 07, 2023
8 pages scanned

Reference data

Company financials Q3 revenue 124M
Analyst estimates Q3 EPS beat by 43.51%
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