Oddity Tech, the owner of Il Makiage and Spoiled Child, has raised its full-year outlook after a strong second quarter of trading.
The company reported net revenues of US$268m, up 27% year-over-year, as well as net income of $49m for the quarter.
Oddity’s custom foundation brand Il Makiage supported the company’s growth during the quarter, along with hair and skin care business Spoiled Child.
“Oddity’s momentum continued into the second quarter with yet another beat and raise across revenue, profit and earnings per share,” said Oran Holtzman, Oddity Tech co-founder and CEO.
“Our business is growing with high profitability, multiple engines and long runways.
“These strong financials allow us to continue reinvesting in our future, including technology, Oddity Labs and building new brands.”
The positive second quarter has led Oddity Tech to raise its full-year guidance for 2025 – expecting net revenues of $799m and $804m for the year.
This confident outlook has extended to its third quarter of trading as it anticipates revenues for Q3 to fall between $144m and $146m, representing growth of 23% or 24%.
The business added that it is gearing up to launch its third brand this year, described as a telehealth platform for consumers with “medical-grade skin and body issues”.
A fourth brand is also being worked on and is anticipated to launch in 2026.
Holtzman added: “The upcoming launch of Brand 3 opens up a massive new market for us with the expansion into medical-grade products.
“Just as we used technology and our direct-to-consumer model to transform beauty, we are turning our sights towards health care, starting with dermatology, where we see a strong and profitable runway.
The Israel-based beauty company's recent growth has been attributed to large-scale investments into technology and product development over the past five years.
It acquired biotechnology start-up Revela in 2023 for an estimated $76m.
Oddity Tech also snapped up Voyage81 in 2021, the business behind a Hyperspectral Imaging Systems technology that allows smartphone cameras to see 31 wavelengths of light.
Oddity was founded in 2018 and is best known for Il Makiage’s shade-matching tool, which launched in the UK in 2020.
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