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Honest Company Stock Gains Post Q1 Results; Maintains FY22 Outlook

By Shivani Kumaresan
  • Honest Company Inc (NASDAQHNST) reported a first-quarter FY21 sales decline of 15% year-on-year to $68.72 million, missing the consensus of $68.80 million.
  • Diapers and Wipes revenue declined 13% Y/Y to $43.3 million, and Skin & Personal Care fell 19% to $21.3 million.
  • Digital revenue decreased 19% Y/Y to $34.3 million, and Retail revenue fell 11% to $34.5 million.
  • The gross margin for the quarter contracted by 500 basis points to 30%.
  • The operating loss for the quarter was $(14.5) million versus a loss of $(4.1) million last year.
  • The company held $78 million in cash and equivalents as of March 31, 2022.
  • EPS loss of $(0.16) missed the analyst consensus of $(0.15).
  • Outlook: HNST's FY22 revenue outlook remains unchanged and expects to be flat year on year.
  • It expects an adjusted EBITDA loss of $(5) million - $(10) million.
  • Price Action: HNST shares traded higher by 14% at $3.34 on the last check Friday.
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Dive Deeper:
Why Volta Shares Are Trading Higher Today
Volta Inc (NYSE:VLTA) reported first-quarter FY22 sales growth of 77% year-on-year to $8.39 million, beating the consensus of $8.28 million. Media revenue increased…
Genius Sports Clocks 60% Revenue Growth In Q1 Aided By Betting, Sports, Media Technology Segments
Genius Sports Limited (NYSE:GENI) reported first-quarter FY22 revenue growth of 59.9% year-on-year to $85.9 million, beating the consensus of $77.9 million. Segments: Betting…
Why Duolingo Shares Are Surging Today
Duolingo Inc (NASDAQ:DUOL) reported first-quarter FY22 sales growth of 47% year-on-year to $81.22 million, beating the consensus of $77.44 million. Total bookings increased…
CyberArk Software Clocks 13% Revenue Growth In Q1, Misses Street View
CyberArk Software Ltd (NASDAQ:CYBR) reported first-quarter FY22 revenue growth of 13% year-on-year to $127.6 million, missing the consensus of $130.3 million. Non-GAAP EPS…
One subscription that gives you access to news from hundreds of sites
Orbital Energy Stock Gains After Q1 Results; Reiterates FY22 Forecast
Orbital Energy Group Inc (NASDAQ:OEG) reported first-quarter revenue of $70.25 million, compared to $5.56 million in 1Q21, marginally missing the consensus of…
Why Real Good Food Shares Are Gaining Today
Real Good Food Company Inc (NASDAQ:RGF) reported first-quarter FY22 sales growth of 124% year-on-year to $37.58 million, beating the consensus of $32.47 million.…
Get all your news in one place