Yesterday, Waldencast, the parent company of Milk Makeup, Obagi skincare, and injectables brand Novaestiq, has postponed the full release of its first-half earnings and cut its full-year forecast, signaling a more cautious outlook for the rest of 2025.
The beauty conglomerate now anticipates low-to-mid single-digit revenue growth and an EBITDA margin in the low-to-mid teens, down from earlier guidance in the mid-teens.
In a statement, co-founder Michel Brousset said that both Milk Makeup and Obagi performed well in the first half despite a tough market, but noted that supply chain shortages and Obagi’s decision to exit certain distribution channels negatively impacted results. He also pointed to headwinds in international markets, which will require increased marketing investment.
Michel Brousset, cofounder and chief executive officer of Waldencast, underscored the company’s long-term vision, noting: “We believe the actions we are taking will set us up to strengthen our foundation for delivering our long-term ambitions and accelerated future growth and profitability. In light of a growing number of opportunities presented to Waldencast and its shareholders, we have decided to undertake a review of a broad range of strategic alternatives focused on maximizing shareholder value. During this process, the company remains fully focused on executing its business strategy and delivering on the evolving needs of the dynamic beauty market.”
