DIRS.INFO The most relevant business & tech news

☆ Short seller alleges Oddity Tech is misleading investors
▼ + stars: | 2024-05-21 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

A short seller on Tuesday alleged that beauty and wellness company Oddity Tech has been misleading investors and isn't the online-only retailer it's claimed to be. Ningi has a short position in Oddity but didn't disclose the size of that position. Oddity Tech, the parent company of makeup brand Il Makiage and skincare brand Spoiled Child, sold investors on the premise that it's disrupting the legacy beauty industry by changing the way people buy makeup online. Ningi Research is alleging that Oddity is not a purely digital company and that its Il Makiage brand has more than 40 stores in Israel, where the company is based. Oddity previously told CNBC that more than half of its business is from repeat customers.

Persons: it's, Ningi, didn't, ODDITY's, they've, Oran Holtzman, Holtzman, authorizations, We'll, we've Organizations: Tech, CNBC, Ningi, U.S . Ningi, Better Business Locations: Israel, U.S

☆ Oddity Tech says it's bucking the beauty slowdown Ulta warned about
▼ + stars: | 2024-05-07 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +3 min

As Ulta Beauty says it expects a slowdown in retail's most resilient category, an upstart says it is bucking the trend. Excluding one-time items, Oddity reported earnings of 61 cents per share. Analysts had expected revenue of $186.5 million and earnings per share of 56 cents, according to LSEG. Oddity believes beauty and wellness products are best sold online, and that consumers will not need to visit beauty shops such as Ulta and Sephora if product selection can be improved. Last month, Ulta Beauty CEO Dave Kimbell warned that demand for beauty products was cooling, sending its stock down 15% that day and hitting shares of e.l.f.

Persons: Dave Kimbell, Estée Lauder, Coty, Kimbell, JPMorgan Chase, Lindsay Drucker Mann, Drucker Mann Organizations: LSEG, Nasdaq, JPMorgan, CNBC

☆ KeyBanc thinks newly-public Israeli beauty stock is underappreciated in healthcare technology
▼ + stars: | 2023-08-15 | by ( Pia Singh | ) www.cnbc.com time to read: +2 min

Investors are overlooking Oddity Tech , which is poised to become a leader in the growing digital beauty and wellness market, according to KeyBanc. Analyst Scott Schoenhaus initiated coverage of the Israeli beauty company with an overweight rating and assigned a price target of $60, suggesting shares stand to gain more than 29% in the next 12 months. "We see ODD in the early stages of its growth story, with near-term tailwinds from its ongoing disruption of beauty and wellness end markets but longer-term growth opportunities that can be unlocked given its unique, differentiated technology," Schoenhaus wrote in a Monday note. Oddity's use of its "nascent hyperspectral technology" and a company-owned biotechnology asset — both powered by AI — will lead to novel beauty and wellness treatments, KeyBanc said. Oddity's legacy IL Makiage brand comprises about 2% of the total beauty market, the note said.

Persons: Scott Schoenhaus, Schoenhaus, —, KeyBanc, Goldman Sachs, Morgan Stanley, — CNBC's Michael Bloom Organizations: Allen, Co Locations: Israeli

☆ Oddity will start trading after pricing IPO above range — here's what the beauty and tech company does
▼ + stars: | 2023-07-19 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +4 min

In the three months ended March 31, the company saw $165.7 million in revenue, up from $90.4 million in the year-ago period. It reported net income of $19.6 million, or 35 cents a share, compared with about $3 million, or 5 cents a share, a year earlier. In fiscal 2022, Oddity brought in $324.5 million in sales and saw net income of $21.7 million, or 39 cents a share. In the year prior, the retailer saw $222.6 million in revenue and net income of $13.9 million, or 26 cents a share. In 2020, it saw $110.6 million in sales and net income of $11.7 million, or 22 cents a share.

Persons: Oran Holtzman, Holtzman, Shiran Holtzman, Lindsay Drucker Mann, Goldman Sachs Organizations: Tech, Nasdaq, CNBC, Goldman, Israeli Defense Forces Locations: U.S

☆ Israel's Oddity seeks higher valuation in US IPO
▼ + stars: | 2023-07-17 | by ( ) www.reuters.com time to read: +1 min

July 17 (Reuters) - Oddity Tech said on Monday it was targeting a valuation of $1.92 billion in its U.S. initial public offering (IPO), more than 13% higher than what it was previously seeking. Over 10.5 million shares priced between $32 and $34 each will be offered, Oddity said. At the top end of the new range, the IPO would fetch around $358 million for Oddity and its existing investors who are cashing out some of their stake. It was previously expected to rake in around $316 million. Up to 2% of the shares being sold will be offered to retail investors via brokerage firm SoFi Technologies (SOFI.O), Oddity said.

Persons: Tech, Oddity's, Johnson, Niket, Shinjini Organizations: Federal Reserve, SoFi Technologies, Thomson Locations: Bengaluru

☆ Beauty and tech company Oddity, which runs Il Makiage, files to go public
▼ + stars: | 2023-06-23 | by ( Gabrielle Fonrouge | In Gabrielle-Fonrouge | ) www.cnbc.com time to read: +5 min

Beauty and tech company Oddity, which runs the Il Makiage and Spoiled Child brands, filed to go public Friday as the once-frozen IPO market warms up. In the three months that ended March 31, the company saw $165.65 million in revenue, up from $90.41 million in the year-ago period. In fiscal 2022, Oddity brought in $324.52 million in sales and saw a net income of $21.73 million, or $5.94 a share. In 2020, it saw $110.64 million in sales and a net income of $11.71 million, or $3.45 a share. E.L.F., a multibrand beauty company, saw $144.94 million in sales in fiscal 2014 and a net loss of $2.88 million.

Persons: didn't, Oran Holtzman, Shiran Holtzman, Lindsay Drucker Mann, Goldman Sachs, Child's, Holtzman Organizations: Nasdaq, Goldman, CNBC, Israeli Defense Forces, Technologists Locations: Israel, U.S, Canada, Europe, Australia

☆ Il Makiage parent Oddity buys biotech startup Revela to design new molecules for beauty products
▼ + stars: | 2023-04-27 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +2 min

Oddity is buying startup Revela for $76 million, its largest acquisition to date, and is putting another $25 million toward building Oddity Labs in Boston. The merger will bring to Oddity a team of scientists tasked with creating brand-new molecules, using artificial intelligence, that can be used in its cosmetics brands and future lines. AI-based molecule discovery is a common tool used in the pharmaceutical industry to create new drugs, but it isn't widely used in the beauty and wellness industry. Legacy brands have long relied on building products using proprietary formulations with a similar set of active ingredients, such as retinol, hyaluronic acid and peptides. "With this acquisition, we are using biologics to bring game-changing, science-backed beauty and wellness products to the market and to our users.

☆ This startup found success using A.I. to build beauty products. But can it keep making money?
▼ + stars: | 2023-03-01 | by ( Gabrielle Fonrouge | ) www.cnbc.com time to read: +7 min

Oddity Il Makiage Coutesy: OddityOddity — the direct-to-consumer beauty and wellness platform known for its ubiquitous Il Makiage social media ads — is making money and growing in an environment that's increasingly risky for purely digital retailers. Since its U.S. launch in 2018, Oddity has achieved profitability, the company said, making $380 million in gross sales in 2022. In Spoiled Child's first year on the market, the new brand brought in $48 million in gross sales. Oddity builds out new products and brands by using its tech to figure out what customers are looking for. Oddity is in the process of integrating the tech into its Il Makiage powermatch quiz to improve accuracy.

Search resuls for: "Oddity's"

8 mentions found