External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

Key points (machine generated)<ul><li>Oddity (ODD) faces controversy as an investment due to significant short interest and critical reports, despite support from notable investors.</li><li>The author argues that short seller claims about ODD are often exaggerated and neglect the company's consumer-facing strengths.</li><li>Skepticism about ODD's product quality and innovation leads the author to believe it is not a durable business, predicting volatility for short sellers.</li></ul>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Key points (machine generated)Oddity (ODD) faces controversy as an investment due to significant short interest and critical reports, despite support from notable investors.The author argues that short seller claims about ODD are often exaggerated and neglect the company's consumer-facing strengths.Skepticism about ODD's product quality and innovation leads the author to believe it is not a durable business, predicting volatility for short sellers.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Oddity Tech Ltd (ODD) - Tuesday, Aug 5, 2025

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>In the latest financial update for ODDITY, a beauty and wellness company, several key metrics reflect both strengths and challenges.</li><li>The company reported a strong Q1 performance, with revenue growth of 27% year-over-year, reaching $268 million, and adjusted EBITDA of $52 million, translating to a 19.5% margin.</li><li>This performance allowed ODDITY to increase its full-year outlook, demonstrating resilience in a challenging economic environment.</li></ul>

In the latest financial update for ODDITY, a beauty and wellness company, several key metrics reflect both strengths and challenges.The company reported a strong Q1 performance, with revenue growth of 27% year-over-year, reaching $268 million, and adjusted EBITDA of $52 million, translating to a 19.5% margin.This performance allowed ODDITY to increase its full-year outlook, demonstrating resilience in a challenging economic environment.

ODDITY Tech: Focusing On Next-Gen Commerce With AI, Vision Tech, & Agile Brand Launches!

<ul><li>Oddity delivered a notable performance in 2024, highlighting a strong financial and operational year.</li><li>The company reported a 27% increase in revenue, reaching $647 million, and a 40% rise in adjusted EBITDA to $150 million, maintaining a 23.3% margin.</li><li>Free cash flow amounted to $134 million, indicating robust cash generation and conversion efficiency.</li></ul>

Oddity delivered a notable performance in 2024, highlighting a strong financial and operational year.The company reported a 27% increase in revenue, reaching $647 million, and a 40% rise in adjusted EBITDA to $150 million, maintaining a 23.3% margin.Free cash flow amounted to $134 million, indicating robust cash generation and conversion efficiency.

Oddity Tech: Will The Latest Advancements In Oddity Labs Become A Key Growth Catalyst?

<ul><li>Oddity demonstrated strong financial performance in the third quarter of 2024, showcasing robust growth metrics amidst a challenging retail environment.</li><li>Revenue for the first nine months of 2024 increased by 27% year-over-year, reaching $523 million, which is significantly higher compared to the mid-single-digit growth rates posted by large-cap competitors.</li><li>Adjusted EBITDA was reported at $135 million, with a conversion of approximately 90% to free cash flow, equating to $119 million.</li></ul>

Oddity demonstrated strong financial performance in the third quarter of 2024, showcasing robust growth metrics amidst a challenging retail environment.Revenue for the first nine months of 2024 increased by 27% year-over-year, reaching $523 million, which is significantly higher compared to the mid-single-digit growth rates posted by large-cap competitors.Adjusted EBITDA was reported at $135 million, with a conversion of approximately 90% to free cash flow, equating to $119 million.

Oddity Tech Ltd.: An Analysis Of Its Innovation in Technology & Product Development & Other Major Drivers

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

<ul>
<li>Oddity Tech, owner of famous global brands IL MAKIAGE and SpoiledChild, is growing slower than in 2022 and 2023. The overall growth will slow down to ~20% y/y in 2025.</li>
<li>According to my estimates and SEC filings, private equity firm L Catterton, the largest shareholder, reduced its stake in Oddity Tech to 18.4%, down from ~42% prior to an IPO.</li>
<li>I see ~34% downside risk in Oddity Tech stock as growth will slow down and the company will launch new brands only in the second half of 2025.</li>
</ul>


Oddity Tech, owner of famous global brands IL MAKIAGE and SpoiledChild, is growing slower than in 2022 and 2023. The overall growth will slow down to ~20% y/y in 2025.
According to my estimates and SEC filings, private equity firm L Catterton, the largest shareholder, reduced its stake in Oddity Tech to 18.4%, down from ~42% prior to an IPO.
I see ~34% downside risk in Oddity Tech stock as growth will slow down and the company will launch new brands only in the second half of 2025.


Oddity Tech: ~34% Downside Risk As Growth Will Slow Down

United States

Oddity Tech Ltd operates as a consumer technology company. The Company offers an artificial intelligence driven online platform that deploy data science to identify consumer needs and develop solutions in the form of beauty and wellness products. Oddity Tech serves clients globally.

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Oddity Tech (ODD US)

Oddity Tech Ltd (ODD) - Tuesday, Aug 5, 2025

The preface critiques Oddity (ODD) as a controversial investment, highlighting its impressive growth but questioning its product quality and...

Value Investors Club (VIC)

ODDITY Tech: Focusing On Next-Gen Commerce With AI, Vision Tech, & Agile Brand Launches!

In the latest financial update for ODDITY, a beauty and wellness company, several key metrics reflect both strengths and challenges. The company...

Baptista Research

Oddity Tech: Will The Latest Advancements In Oddity Labs Become A Key Growth Catalyst?

Oddity delivered a notable performance in 2024, highlighting a strong financial and operational year. The company reported a 27% increase in...

Baptista Research

Oddity Tech Ltd.: An Analysis Of Its Innovation in Technology & Product Development & Other Major Drivers

Oddity demonstrated strong financial performance in the third quarter of 2024, showcasing robust growth metrics amidst a challenging retail...

Baptista Research

Oddity Tech: ~34% Downside Risk As Growth Will Slow Down

I see ~34% downside risk in Oddity Tech stock, reflecting lower peer multiples, heavy insider selling and continued slowdown in the beauty industry

Andrei Zakharov

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