Oddity Tech Shares Rise After Q2 Earnings Beat
Oddity Tech Ltd. (NASDAQ:ODD) shares surged 23.99% in premarket trading following better-than-expected second-quarter earnings and an updated outlook, despite a year-over-year revenue decline attributed to ongoing advertising algorithm issues affecting its IL MAKIAGE brand. The company reported adjusted EPS of $0.20 against the consensus estimate of $0.19, with total revenue reaching $181 million versus analyst estimates of $176.48 million and a 25% drop from last year’s $241 million. Adjusted EBITDA fell to $13 million compared to $70 million in the prior-year period. Oddity expects Q3 revenue to decline about 5%, with full-year adjusted EBITDA forecast at between $30 million and $31 million, as it continues efforts to resolve technical issues impacting its largest brand.
Tickers: $ODD
Topics: adjusted EBITDA earnings revenue decline stock price movement