Olaplex Holdings, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting net sales of $119.1 million. The company also reported an adjusted EBITDA of $44.6 million, resulting in an adjusted EBITDA margin of 37.5% for the quarter.
Following these results, Olaplex revised its fiscal year 2024 guidance, lowering its net sales outlook to a range of $405 million to $415 million. Adjusted net income is now projected between $67 million and $73 million, with adjusted EBITDA expected to be between $121 million and $127 million.
The revision was attributed to weaker performance in the international business, a longer-than-anticipated period to see demand lift from strategic investments, and an expectation of higher promotional activity during the fourth quarter. Despite these challenges, the company highlighted progress in product innovation, including the launch of OLAPLEX Bond Shaping Technology and No. 5 Leave-In Conditioner, and regaining its position as the #1 EMV haircare brand in the U.S. in Q3.
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