Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to maintain the value of our brands; our ability to anticipate and respond to market trends and changes in consumer preferences; our ability to attract new customers, retain existing customers and maintain or increase sales to those customers; our ability to maintain a strong base of engaged customers and content creators; the loss of suppliers or shortages or disruptions in the supply of raw materials or finished products; our ability to accurately forecast customer demand, manage our inventory, and plan for future expenses; our future rate of growth; competition; the fluctuating cost of raw materials; the illegal distribution and sale by third parties of counterfeit versions of our products or the unauthorized diversion by third parties of our products; changes in, or disruptions to, our shipping arrangements; our ability to manage our growth effectively; a general economic downturn or sudden disruption in business conditions; our ability to successfully introduce and effectively market new brands, or develop and introduce new, innovative, and updated products; foreign currency fluctuations; product returns; our ability to execute on our business strategy; our ability to maintain a high level of customer satisfaction; our ability to comply with and adapt to changes in laws and regulatory requirements applicable to our business, including with respect to regulation of the internet and e-commerce, evolving AI-technology related laws, tax laws, the anti-corruption, trade compliance, anti-money laundering, and terror finance and economic sanctions laws and regulations, consumer protection laws, and data privacy and security laws; failure of our products to comply with quality standards and risks related to product liability claims; trade restrictions; existing and potential tariffs; any data breach or other security incident of our information technology systems, or those of our third-party service providers or cyberattacks; risks related to online transactions and payment methods; any failure to obtain, maintain, protect, defend, or enforce our intellectual property rights; conditions in Israel and the Middle East generally, including as a result of geopolitical conflict; the concentration of our voting power as a result of our dual class structure; our status as a foreign private issuer; and other risk factors set forth in the section titled "Risk Factors” in our Annual Report on Form 20-F filed with the Securities and Exchange Commission on March 6, 2024, and other documents filed with or furnished to the SEC.
Record third quarter net revenue of $119 million, up 26% year-over-yearRecord third quarter adjusted EBITDA of $25 millionRecord third quarter net income of $18 million, up 362% year-over-year, and record third quarter adjusted net income of $20 million, up 53% year-over-yearRecord nine-month net revenue of $523 million, up 27% year-over-yearRecord nine-month adjusted EBITDA of $135 millionRecord nine-month net operating cash flow of $122 million and free cash flow of $119 million NEW YORK, Nov.06, 2024 (GLOBE NEWSWIRE) -- ODDITY Tech Ltd.(NASDAQ: ODD) today announced its financial results for the third quarter ended September 30, 2024.
RECONCILLIATION OF GAAP TO NON-GAAP FINANCIAL INFORMATION U.S.dollars in thousands Three Months Ended September 30, Nine Months Ended September 30, 2024 2023 2024 2023 (Unaudited) (Unaudited) Reconciliation of Net Income and Adjusted EBITDA Net Income $ 17,719 $ 3,834 $ 96,193 $ 53,421 Financial income, net (3,052 ) (2,146 ) (9,677 ) (2,883 ) Taxes on Income 4,867 4,624 25,041 17,328 Depreciation and amortization 2,566 2,234 7,164 6,234 Share-based compensation 2,741 12,234 16,562 16,604 Non-recurring adjustments - - - 300 Adjusted EBITDA $ 24,841 $ 20,780 $ 135,283 $ 91,004 Reconciliation of Net Income and Adjusted Net Income Net Income $ 17,719 $ 3,834 $ 96,193 $ 53,421 Share-based compensation 2,741 12,234 16,562 16,604 Non-recurring adjustments - - - 300 Tax impact (595 ) (3,058 ) (3,421 ) (4,012 ) Adjusted Net Income $ 19,865 $ 13,010 $ 109,334 $ 66,313 Diluted earnings per share $ 0.29 $ 0.06 $ 1.55 $ 0.92 Adjusted diluted earnings per share $ 0.32 $ 0.21 $ 1.76 $ 1.14 ODDITY TECH LTD.
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