Il Makiage and Spoiled Child parent company Oddity Tech started trading on the Nasdaq in July and has seen shares fall by about 50%.
Il Makiage and Spoiled Child parent company Oddity Tech expects revenue to grow between 29% to 31% in the three months ended Sept. 30.
The company started trading on the Nasdaq in July and has seen shares fall by about 50% since reaching a high of $56.released preliminary third-quarter results on Monday that show expected revenue growth of 29% to 31%, driven by repeat sales at itsin July and uses artificial intelligence to develop products, had previously expected sales to grow by about 20.5% in the three months ended Sept. 30.
So far this year, sales have jumped by about 58% with adjusted EBITDA of at least $89 million, Oddity said. Oddity is on a mission to disrupt the legacy beauty and wellness industry by using AI to not just select products for customers, but to develop them as well. It often boasts that it doesn't hire from the legacy beauty industry and instead focuses on recruiting technologists, many of whom came from the Israeli Defense Forces' best technology units.
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