EVENT ALERT: During Beauty Accelerate 2022, Lavinia Popescu, Ph.D., chief scientist of R&D for Olaplex, will explain how hair can benefit from skin-centric approaches and ingredients, and provide examples of incorporating collagen, hyaluronic acid, etc., into hair care. Join Popsecu's discussion on September 28th. Registration is now open!
Olaplex has announced its second quarter 2022 results that show net sales increased 38.6% to $210.9 million. Net sales increased 41.3% in the United States and 35.2% internationally.
Gross profit was $156.4 million, compared to $120.5 million in the previous year.
Net income was $87.7 million, compared to $49.3 million in the previous year.
Six Months
Net sales for the six months ended June 30, 2022 were $397.1 million, compared to $270.2 million in the previous year.
Gross profit was $297.6 million, compared to $214.1 million in the previous year.
Net income was $149.7 million, compared to $94.8 million in the previous year.
Fiscal Year 2022 Guidance
Net sales are projected to be between $796 million and $826 million.
JuE Wong, Olaplex's president and CEO, said, “We are pleased to announce another excellent quarter for Olaplex, as we continue to deliver industry top tier net sales growth and profit margins. Building on the strong momentum from the first half of the year, we are re-affirming our fiscal year 2022 guidance ranges. This reflects the successful execution of our strategy as we disrupt the prestige hair care market with science-based, patent-protected products that are designed to fix real hair problems from first use. We continue to see strength in prestige beauty and the prestige hair care category as we believe consumers are prioritizing their own wellbeing—even during uncertain times. We believe that our competitive advantages, leadership in a fast-growing, global category, and significant white space growth opportunities have us well positioned for future success.”
