Waldencast Delays Earnings Release, Initiates Strategic Review Following Novaestiq Acquisition
The board is undertaking a review of a broad range of strategic alternatives available to the company focused on maximizing shareholder value and has tapped Lazard to carry it out, it said. It added that 'there can be no assurance that this strategic review will result in the company pursuing a transaction or any other particular outcome.'
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Waldencast had previously announced its intention to publish results detailing its financial performance for the second quarter ended June 30 on Aug. 18. But in preparation for the strategic review and in light of the recent acquisition of Novaestiq, an aesthetic and medical dermatological innovations company, as well as the U.S. rights to the Saypha line of hyaluronic acid injectable gels, this has been delayed for additional analysis.
'The company is working diligently to finalize this review and to complete and file the [first-half] 2025 financials with the U.S. Securities and Exchange Commission within regulatory deadlines and hold the related earnings call as soon as practicable,' it said in a statement.
It did, however, lower its full-year outlook, expecting net revenue growth in the low- to midsingle digits, reflecting first-half performance and a more moderated industry environment.
Michel Brousset, cofounder and chief executive officer of Waldencast, said: 'We believe the actions we are taking will set us up to strengthen our foundation for delivering our long-term ambitions and accelerated future growth and profitability. In light of a growing number of opportunities presented to Waldencast and its shareholders, we have decided to undertake a review of a broad range of strategic alternatives focused on maximizing shareholder value. During this process, the company remains fully focused on executing its business strategy and delivering on the evolving needs of the dynamic beauty market.'
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