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.

Equity Bottom-Up

<ul><li>ODDITY's Q2 2024 earnings report shows substantial growth and operational efficiency, indicating strong performance and an aggressive growth trajectory.</li><li>The company posted a 28% increase in first-half revenue, reaching $404 million, alongside an impressive $110 million in adjusted EBITDA and $104 million in free cash flow.</li><li>Such figures not only indicate potent financial health but also highlight ODDITY's strategic efficiency, outpacing legacy incumbents significantly.</li></ul>

ODDITY's Q2 2024 earnings report shows substantial growth and operational efficiency, indicating strong performance and an aggressive growth trajectory.The company posted a 28% increase in first-half revenue, reaching $404 million, alongside an impressive $110 million in adjusted EBITDA and $104 million in free cash flow.Such figures not only indicate potent financial health but also highlight ODDITY's strategic efficiency, outpacing legacy incumbents significantly.

Oddity Tech Ltd.: Brand Development & Diverse Portfolio Driving Our Optimism! - Major Drivers

<ul><li>ODDITY, a data-driven beauty platform, posted strong financial results, reaching two important milestones in 2023: surpassing $500 million in revenue and generating over $100 million of adjusted EBITDA. The company's net revenue grew 57% to $509 million, while adjusted EBITDA surged 173% to $107 million.</li><li>ODDITY's online platform, launched only five years ago, currently has over 50 million users and is responsible for these robust financial results.</li><li>Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.</li></ul>

ODDITY, a data-driven beauty platform, posted strong financial results, reaching two important milestones in 2023: surpassing $500 million in revenue and generating over $100 million of adjusted EBITDA. The company's net revenue grew 57% to $509 million, while adjusted EBITDA surged 173% to $107 million.ODDITY's online platform, launched only five years ago, currently has over 50 million users and is responsible for these robust financial results.Baptista Research looks to evaluate the different factors that could influence the company's price in the near future and attempts to carry out an independent valuation of the company using a Discounted Cash Flow (DCF) methodology.

Oddity Tech Ltd.: Initiation Of Coverage - What Is The Significance of Brand & What Are The Product Range Expansions? - Major Drivers

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Equity Capital Markets

<ul>
<li>Oddity Tech, the owner of popular and fastest-growing global brands IL MAKIAGE and SpoiledChild, set terms for an upcoming IPO. The company offers ~10.5M Class A shares. </li>
<li>Selling shareholders (private equity firm L. Catterton and Oran Holtzman, Co-founder &amp; CEO) offer ~8.77M Class A shares, while Oddity Tech offers ~1.75M Class A shares.</li>
<li>The net proceeds from the sale of Class A shares will be ~$41M. Oddity Tech will not receive any proceeds from the sale of shares by the selling shareholders. </li>
</ul>


Oddity Tech, the owner of popular and fastest-growing global brands IL MAKIAGE and SpoiledChild, set terms for an upcoming IPO. The company offers ~10.5M Class A shares. 
Selling shareholders (private equity firm L. Catterton and Oran Holtzman, Co-founder &amp; CEO) offer ~8.77M Class A shares, while Oddity Tech offers ~1.75M Class A shares.
The net proceeds from the sale of Class A shares will be ~$41M. Oddity Tech will not receive any proceeds from the sale of shares by the selling shareholders. 


Oddity Tech IPO Valuation Analysis: Growth and Profitability, Solid Upside With Limited Risk

<ul>
<li>
<a href="https://www.smartkarma.com/entities/oddity-tech-ltd" target="_blank" data-smartkarma-citation="entities:39872:1" rel="noopener">Oddity Tech (ODD US)</a> , innovative consumer-tech unicorn and a prominent player in the beauty industry, filed for a $100M U.S. IPO, with Goldman Sachs leading the offering.</li>
<li>Founded in 2013 in Israel by CEO Mr. Holtzman and Chief Product Officer Ms. Holtzman-Erel, <a href="https://www.smartkarma.com/entities/oddity-tech-ltd" target="_blank" data-smartkarma-citation="entities:39872:1" rel="noopener">Oddity Tech (ODD US)</a>  wants to disrupt the global beauty and wellness market.</li>
<li>Founder-Led company delivered profitable high-growth at a scale and has a rapidly growing user base. Given the company’s attractive fundamentals, Oddity Tech is bound to have a very successful IPO.</li>
</ul>



Oddity Tech (ODD US) , innovative consumer-tech unicorn and a prominent player in the beauty industry, filed for a $100M U.S. IPO, with Goldman Sachs leading the offering.
Founded in 2013 in Israel by CEO Mr. Holtzman and Chief Product Officer Ms. Holtzman-Erel, Oddity Tech (ODD US)  wants to disrupt the global beauty and wellness market.
Founder-Led company delivered profitable high-growth at a scale and has a rapidly growing user base. Given the company’s attractive fundamentals, Oddity Tech is bound to have a very successful IPO.


Oddity Tech IPO Preview: AI In The Beauty Industry

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.: Brand Development & Diverse Portfolio Driving Our Optimism! - Major Drivers

ODDITY's Q2 2024 earnings report shows substantial growth and operational efficiency, indicating strong performance and an aggressive growth...

Baptista Research

Oddity Tech Ltd.: Initiation Of Coverage - What Is The Significance of Brand & What Are The Product Range Expansions? - Major Drivers

ODDITY, a data-driven beauty platform, posted strong financial results, reaching two important milestones in 2023: surpassing $500 million in...

Baptista Research

Oddity Tech IPO Valuation Analysis: Growth and Profitability, Solid Upside With Limited Risk

In my insight, I dug deeper into the IPO valuation analysis of Oddity Tech, an Innovative consumer-tech unicorn that wants to disrupt the global...

Andrei Zakharov

Oddity Tech IPO Preview: AI In The Beauty Industry

Oddity Tech is uniquely positioned to disrupt the expansive $600B+ global beauty and wellness market. The company filed for a $100M U.S. IPO in June

Andrei Zakharov

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