ODDITY Tech Ltd.

ODD

Equity

ISIN IL0011974909 / Valor 128034307

NASDAQ (2024-09-17)

USD 35.26+1.29%

ODDITY Tech Ltd.
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About company

ODDITY Tech Ltd. is a technology company specializing in the development and application of artificial intelligence and machine learning solutions for various industries.

Summarized from source with an LLMView SourceSector: Technology

Revenue Growth

ODDITY Tech Ltd. reported a significant increase in revenue for the first quarter of 2024, with net revenue reaching $212 million, up 28% from $166 million in the first quarter of 2023. This growth highlights the company's strong performance and market expansion during the period.

Profitability Enhancement

For the first quarter of 2024, ODDITY Tech Ltd. saw a substantial rise in profitability, with net income escalating to $33 million, up 68% from $20 million in the same quarter the previous year. Adjusted net income also improved dramatically, up 82% year-over-year to $38 million.

EBITDA Growth

ODDITY Tech Ltd.'s adjusted EBITDA for the first quarter of 2024 was $48 million, representing a 69% increase from $28 million in the first quarter of 2023. This improvement in EBITDA underscores the company's enhanced operational efficiency and profitability.

Strong Financial Position

As of March 31, 2024, ODDITY Tech Ltd. maintained a robust balance sheet with $252 million in cash, cash equivalents, and investments, supported by a significant free cash flow of $79 million year-to-date. The company reported no outstanding debt, positioning it well for sustained growth and investment in new initiatives.

Future Outlook

Looking ahead to the full year of 2024, ODDITY Tech Ltd. has raised its revenue forecast to between $626 million and $635 million, indicating expected year-over-year growth of 23% to 25%. The company also anticipates adjusted EBITDA to be between $139 million and $143 million, reflecting its optimistic outlook and strategic investments in future growth areas.

Summarized from source with an LLMView Source

Key figures

5.10%1Y

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Performance

62.3%1Y

63.9%3Y

63.9%5Y

Volatility