Oddity Tech Q4 Revenues Up 23.5% to $152.7M, Warns Q1 Revenue Drop
Oddity Tech’s Q4 revenues rose 23.5% to $152.7 million, beating consensus, while adjusted EBITDA fell 17.4% to $12.5 million due to higher SG&A expenses. The company warns of an approximately 30% revenue decline in Q1 2026 and has withdrawn full-year guidance after customer acquisition costs more than doubled.
1. Q4 Results Exceed Expectations
In the fourth quarter of 2025, Oddity Tech posted revenues of $152.7 million (up 23.5% year-on-year) and earnings per share of $0.20 (versus a $0.14 consensus), while adjusted EBITDA declined 17.4% to $12.5 million amid increased SG&A investments.
2. Rising Acquisition Costs Trigger Guidance Withdrawal
Management disclosed that algorithm changes at its largest advertising partner more than doubled customer acquisition costs, making first-time orders unprofitable and prompting a forecasted 30% revenue decline in Q1 2026 and the withdrawal of full-year guidance.
3. Strong Liquidity and Buyback Capacity
Oddity Tech exited 2025 with $776 million in cash and investments, expanded its credit facility to $350 million (undrawn), and retains $103 million under its $150 million share repurchase authorization through June 2027.