WALD PRESS-RELEASE SEC Filing Analysis

Final — all horizons settled through T+60d

WALD ▲ +3.80% at T+60d

SHORT call ✗ call lost -3.80% · α vs SPY +7.82% · entry $1.58 → $1.64

Last close $1.64 (close Jun 8) · -3.80% from $1.58 entry (call sign-flipped)

Entry anchored
Mar 12, 03:59 PM ET
via Databento tick

T+1d

-0.63%

call +0.63% · α +1.66%

$1.57

settled 3mo ago

T+5d

-25.00%

call +25.00% · α +22.88%

$1.19

settled 3mo ago

T+20d

-33.54%

call +33.54% · α +37.13%

$1.05

settled 8w ago

T+60d

+3.80%

call -3.80% · α +7.82%

$1.64

settled 17h ago

Price Chart

Loading chart...

Executive Summary

Waldencast reported flat revenue of $272.1M for FY2025 but a sharp 60% YoY decline in Adjusted EBITDA to $16.1M, driven by heavy investments in Obagi Medical's aesthetics expansion and supply chain, along with softness in Milk Makeup's international markets. The company sold the Obagi Japan trademark for $82.5M, strengthening its balance sheet, but is not providing 2026 guidance due to an ongoing strategic review.

Key Financial Metrics

Revenue

$272.1M

-0.7% YoY

Deal Value

$82.5M

Actionable Insight

Traders should monitor for updates on the strategic review, which could lead to a sale or restructuring. The sharp EBITDA decline and lack of guidance suggest near-term uncertainty, but improved liquidity provides runway. Watch for commercial traction from Obagi's new injectables launch in Q1 2026.

Key Facts

FY2025 net revenue was $272.1M, down 0.7% YoY; Q4 revenue was $72.0M, flat YoY
Adjusted EBITDA fell 60.1% YoY to $16.1M for the year, and 41.4% to $6.6M in Q4
Obagi Medical grew revenue 8.3% for the year and 12.8% in Q4, but EBITDA dropped due to $5.3M in injectables launch costs
Milk Makeup revenue declined 11.4% for the year and 18.3% in Q4, with international softness offsetting U.S. gains
Company sold Obagi Japan trademark to Rohto for $82.5M, used $77.5M for debt repayment
Net debt reduced from $154.2M to $121.7M; cash increased from $14.8M to $30.4M
Board initiated strategic review with Lazard advising; no 2026 guidance provided

Financial Impact

Adjusted EBITDA down $24.2M YoY; Milk Makeup segment EBITDA down $13.9M; Obagi's EBITDA down $11.1M despite revenue growth

epsebitdarevenuedebtcashFlow

Risk Factors

Strategic review may not result in a transaction or could lead to dilutive financing
Milk Makeup's international decline and leadership changes pose turnaround risk
Obagi's aesthetics expansion requires sustained investment with uncertain ROI
Material weaknesses in internal controls and prior restatement raise governance concerns

Market Snapshot

Exchange

Nasdaq

Documents Analyzed

This report is based on 1 press release from GlobeNewswire.

Document	Accession Number
PRESS-RELEASE Data (Synthetic)	press-3255356

7 reports for WALD

T+1T+5T+20T+60

Track record builds as more directional reports settle.

Filters

Reports for WALD — sortable, filterable
	Type				Now
Jun 1, 2026 8d ago	Press Release BULLISH ★ 7/10	$1.83 $1.72	▼ −6.01%	▼ −3.26%	$1.64 (−10.38%)
May 15, 2026 25d ago	Press Release NEUTRAL ★ 4/10	$1.47 $1.30	▼ −11.56%	▼ −12.53%	$1.64 (+11.56%)
May 14, 2026 26d ago	Press Release NEUTRAL ★ 2/10	$1.63 $1.30	▼ −20.25%	▼ −19.53%	$1.64 (+0.61%)
Apr 28, 2026 6w ago	Press Release BULLISH ★ 5/10	$0.7630 $1.04	▲ +36.30%	▲ +33.19%	$1.64 (+114.94%)
Mar 19, 2026 11w ago	Press Release NEUTRAL ★ 4/10	$1.33 $1.02	▼ −23.31%	▼ −21.10%	$1.64 (+23.31%)
Mar 13, 2026 12w ago	Press Release BEARISH ★ 7/10	$1.58 $1.19	▲ +25.00%	▲ +22.88%	$1.64 (−3.80%)
Mar 11, 2026 12w ago	Press Release NEUTRAL ★ 4/10	$1.46 $1.33	▼ −8.90%	▼ −7.93%	$1.64 (+12.33%)

US Market Status

Market Closed — Opens in 8h 57m

Get Real-Time SEC Filing Intelligence

Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.

Try SecBot Free Coming soon: SecBot Pro with alerts, watchlists, and API access