Oddity Tech has announced full-year net revenue of US$647m, a year-over-year increase of 27%.
The Il Makiage and Spoiled Child owner’s bullish financial performance was bolstered by net revenue of $124m for its fourth quarter, ended 31 December 2024.
This was also up 27% on the prior-year period.
The full year saw “strong double-digit growth” for Oddity’s custom foundation brand Il Makiage, as well as for hair and skin care player Spoiled Child.
Oddity added that the 12 months included the continued development and expansion of its Oddity Labs molecule discovery platform.
Additionally, the direct-to-consumer beauty company said it was making “great progress” in developing its third and fourth brands, which it predicts will “disrupt” other large beauty and wellness categories.
Brand three is described as a telehealth platform for consumers with medical-grade skin and body issues.
Less information has been shared about brand four, but it is anticipated to lead an “attractive category in the beauty and wellness market”.
“2024 was a record-breaking year for Oddity,” said Oddity co-founder and CEO Oran Holtzman.
“We delivered outstanding results and exceeded our financial guidance every single quarter of the year, just as we have in the past seven quarters since our IPO, while simultaneously making massive investments in our future.”
Holtzman remains “bullish on Oddity’s future”.
“We have positioned ourselves to win in the most important growth areas in our industry, including the consumer shift online and their increased demand for high-performance products,” he added.
“Our brands today continue to deliver strong and profitable growth, while we build powerful engines for our future with new technology products, Oddity Labs and our new brands.”
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