Economy

ODDITY Reports $181 Million Q2 Revenue and $13 Million Net Income

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ODDITY Tech reported second-quarter revenue of $181 million, down 25% from $241 million a year earlier, with net income of $13 million and gross profit of $124 million. The company ended the quarter with $561 million in cash, equivalents and investments, while $350 million in credit facilities remained undrawn. It repurchased 5.6 million shares for about $80 million during the quarter and 11.7 million shares for roughly $163 million year to date. ODDITY, which operates an R&D center in Tel Aviv, forecast third-quarter revenue to decline about 5% year over year and adjusted EBITDA of $18 million to $20 million.

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