WALD on Nasdaq

Waldencast plc

Waldencast plc is a blank check company.1 It is headquartered in London, United Kingdom.1

Price unavailable

Last updated Oct 20, 2026.

Overview

$272.1MRevenue, fiscal 20252
-$229.7MNet income, fiscal 20252

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  • TickerWALD on Nasdaq1
  • IndustryPerfumes, Cosmetics & Other Toilet Preparations1
  • HeadquartersLondon, United Kingdom1
  • Business address81 Fulham Road, London, X0 Sw3 6Rd3
  • Filer categoryNon-accelerated filer, Emerging growth company3

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Waldencast was a blank check company that was incorporated on December 8, 2020, as Waldencast Acquisition Corp., a Cayman Islands exempted company. In connection with the Business Combination, on July 26, 2022, with the approval of the Company’s shareholders, and in accordance with the Cayman Companies Act, the Jersey Companies Law and the Company’s Constitutional Document, the Company’s jurisdiction of incorporation was changed from the Cayman Islands to Jersey and its name changed to Waldencast (the “Domestication”). As a result of the Domestication, (i) each then issued and outstanding Waldencast Acquisition Corp. Class A ordinary share was converted automatically, on a one-for-one basis, into a Class A ordinary share of Waldencast, (ii) each then issued and outstanding Waldencast Acquisition Corp. Class B ordinary share was converted automatically, on a one-for-one basis, into a Clas…4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

67.3%Gross margin2
-80.0%Operating margin2
-84.4%Net margin2
-0.7%Revenue growth, 20252
-49.7%Return on equity2
0.29×Debt to equity2
-$16.2MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Product brought in 99% of the revenue Waldencast plc broke down this way in fiscal 2025.

  1. Product$268.2M299%down 0% from 2024
  2. Royalty$3.9M21%down 14% from 2024
Products and services by year
Products and services202320242025
Product$213.1M$269.4M$268.2M
Royalty$5.0M$4.5M$3.9M

Business segments

Obagi Skincare brought in 59% of the revenue Waldencast plc broke down this way in fiscal 2025.

  1. Obagi Skincare$161.6M259%up 8% from 2024
  2. Milk Makeup$110.4M241%down 11% from 2024
Business segments by year
Business segments202320242025
Obagi Skincare$117.7M$149.3M$161.6M
Milk Makeup$100.5M$124.6M$110.4M

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue25¢$89.1M
  • Selling, general and admin71¢$248.0M
  • Income tax4¢$14.2M

Out of $272.1M in revenue.2 The company lost money this year.

Financial statements

Revenue562$272.1M in 2025+188% since 2020
0$100.0M$200.0M$300.0M2020: $94.4M$94.4M20202021: $142.5M$142.5M2021+51%2023: $218.1M$218.1M2023+53%2024: $273.9M$273.9M2024+26%2025: $272.1M$272.1M2025−1%
Gross profit562$183.0M in 2025+180% since 2020
0$50.0M$100.0M$150.0M$200.0M2020: $65.3M$65.3M20202021: $87.4M$87.4M2021+34%2023: $141.6M$141.6M2023+62%2024: $191.7M$191.7M2024+35%2025: $183.0M$183.0M2025−5%
Operating income562-$217.5M in 2025
-$300.0M-$200.0M-$100.0M0$100.0M2020: $528.0K$528.0K20202021: -$1.6M-$1.6M20212023: -$81.9M-$81.9M2023+4942%2024: -$58.6M-$58.6M2024−28%2025: -$217.5M-$217.5M2025+271%
Net income562-$229.7M in 2025+9594% since 2020
-$300.0M-$200.0M-$100.0M02020: -$2.4M-$2.4M20202021: -$19.6M-$19.6M2021+726%2023: -$90.0M-$90.0M2023+360%2024: -$42.4M-$42.4M2024−53%2025: -$229.7M-$229.7M2025+441%

Every line of the income statement as filed: the last 3 fiscal years, latest first.2

Period ending2025-12-312024-12-312023-12-31
Net revenue$272.1M$273.9M$218.1M
Cost of goods sold$89.1M$82.1M$76.6M
Gross profit$183.0M$191.7M$141.6M
Selling, general and administrative$248.0M$245.3M$223.5M
Loss on impairment of goodwill$152.0M$5.0M$0
Gain on sale of trademark-$5.7M$0$0
Loss on acquisition$6.2M$0$0
Total operating expenses$400.6M$250.3M$223.5M
Total operating loss-$217.5M-$58.6M-$81.9M
Interest expense, net$25.1M$17.2M$18.9M
Loss on extinguishment of debt$24.4M$0$0
Change in fair value of derivative liabilities-$3.7M-$23.6M$10.3M
Change in contingent consideration liabilities (Note 10)-$861.0K$0$0
Other (income) expense, net-$229.0K-$3.6M$1.8M
Total other expenses (income), net$44.7M-$10.0M$31.0M
Loss before income taxes-$262.2M-$48.5M-$112.9M
Income tax (benefit) expense-$14.2M$110.0K-$7.0M
Net loss-$248.1M-$48.6M-$106.0M
Net loss attributable to noncontrolling interests-$18.3M-$6.2M-$16.0M
Net loss attributable to Class A shareholders-$229.7M-$42.4M-$90.0M
Basic (in dollars per share)-$2.01-$0.39-$0.99
Diluted (in dollars per share)-$2.01-$0.39-$0.99
Basic (in shares)114.1M shares109.3M shares91.2M shares
Diluted (in shares)114.1M shares109.3M shares91.2M shares
Other comprehensive (loss) income foreign currency translation adjustments, net of tax-$684.0K$450.0K-$147.0K
Comprehensive loss-$248.7M-$48.2M-$106.1M
Comprehensive loss attributable to noncontrolling interests-$18.4M-$6.1M-$16.0M
Comprehensive loss attributable to Class A shareholders-$230.4M-$42.0M-$90.1M

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Corporate structure

Waldencast plc sits at the top of its group. 1 entity on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Waldencast plc

  • Waldencast Long-Term Capital LLC Filed SCHEDULE 13D/A on Waldencast plc, latest Jun 26, 2026 (4 filings since Feb 2, 2022)
  • Santa Venerina Inv. & Arbitrage Ltd. Filed SCHEDULE 13G/A on Waldencast plc, latest Jun 23, 2026 (2 filings since Feb 1, 2024)
  • Participacoes Ltda Fvf Filed SCHEDULE 13G on Waldencast plc, latest Sep 4, 2025
  • Fitpart Fund Administration Services Ltd. Filed SCHEDULE 13G/A on Waldencast plc, latest Aug 19, 2025 (2 filings since May 19, 2025)
  • Zeno Equity Partners LLP Filed SCHEDULE 13D/A on Waldencast plc, latest Jul 31, 2025
  • Zeno Investment Master Fund Filed SC 13D/A on Waldencast plc, latest Feb 9, 2024
  • Investmentos Ltda. Truxt Filed SC 13G/A on Waldencast plc, latest Jan 31, 2024 (4 filings since Feb 4, 2022)
  • Internacional Gestao De Recursos Ltda. Dynamo Filed SC 13D/A on Waldencast plc, latest Dec 1, 2023 (3 filings since Aug 5, 2022)
  • Waldencast Ventures, LP Filed SC 13D on Waldencast plc, latest Feb 23, 2023
  • CITADEL ADVISORS LLC Filed SC 13G/A on Waldencast plc, latest Feb 14, 2023 (2 filings since Jan 31, 2022)
  • Sculptor Capital LP Filed SC 13G/A on Waldencast plc, latest Feb 14, 2023 (2 filings since Jun 3, 2022)
  • Sharp Capital Gestora de Recursos Ltda. Filed SC 13G/A on Waldencast plc, latest Feb 8, 2023 (2 filings since Feb 10, 2022)
  • Waldencast plc London, United Kingdom

Built from major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Waldencast plc reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$18.6M2 Dec 31, 2025$15.0M2 Dec 31, 2024+23.7%
Accumulated depreciation$12.4M2 Dec 31, 2025$9.2M2 Dec 31, 2024+34.3%
Property and equipment, net$6.2M2 Dec 31, 2025$5.8M2 Dec 31, 2024+7.0%
Operating-lease assets (leased space)$7.7M2 Dec 31, 2025$9.8M2 Dec 31, 2024−21.4%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$30.4M2 Dec 31, 2025$14.8M2 Dec 31, 2024+105.2%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$177.6M2 Dec 31, 2025$329.6M2 Dec 31, 2024−46.1%
Intangible assets, net (excluding goodwill)$427.1M2 Dec 31, 2025$526.4M2 Dec 31, 2024−18.9%
Finite-lived intangibles, gross$569.1M2 Dec 31, 2025$663.9M2 Dec 31, 2024−14.3%
Accumulated amortization$142.0M2 Dec 31, 2025$137.5M2 Dec 31, 2024+3.3%
Finite-lived intangibles, net$427.1M2 Dec 31, 2025$526.4M2 Dec 31, 2024−18.9%

Inventory

ItemLatestA year beforeChange
Inventory, total$54.6M2 Dec 31, 2025$53.1M2 Dec 31, 2024+2.8%
Work in process$9.7M2 Dec 31, 2025$8.4M2 Dec 31, 2024+15.7%
Finished goods$44.9M2 Dec 31, 2025$44.8M2 Dec 31, 2024+0.4%

Leadership

Who has led Waldencast plc, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Michel Brousset2021–now

Chief financial officer

  1. Manuel Manfredi2026–now

Chief operating officer

  1. Hind Sebti2021
2025
Board members and other officers (12)

Former names

  • Waldencast Acquisition Corp.Jan 22, 2021 to Jul 27, 20223

Timeline

  1. Jul 26, 20228-K Executive or director change; Shareholder vote; Regulation FD disclosure22
  2. Jul 15, 20228-K Entered a material agreement; New debt or obligation; Other events23
  3. Jul 5, 20228-K Regulation FD disclosure24
  4. Jun 27, 20228-K Entered a material agreement25
  5. Jun 15, 20228-K Entered a material agreement; Executive or director change26
  6. May 24, 20228-K Entered a material agreement; New debt or obligation27
  7. Apr 28, 20228-K Regulation FD disclosure28
  8. Apr 27, 20228-K Regulation FD disclosure29
  9. Apr 22, 20228-K Executive or director change30
  10. Dec 22, 20218-K Entered a material agreement; Executive or director change31
  11. Nov 18, 20218-K Earlier financial statements no longer reliable32
  12. Nov 17, 20218-K Entered a material agreement; Unregistered sale of shares33
  13. Mar 18, 2021New chief executive Michel Brousset becomes CEO10

Filings

230 filings to the SEC since October 2021: 9 annual reports, 2 quarterly reports, 13 major events, 16 insider forms, 29 large holders, 161 other. The latest 20:

  1. Oct 15, 20266-K EDGAR
  2. Oct 15, 202615-12G EDGAR
  3. Oct 14, 2026S-8 POS EDGAR
  4. Oct 13, 2026EFFECT EDGAR
  5. Oct 13, 2026EFFECT EDGAR
  6. Oct 13, 2026EFFECT EDGAR
  7. Oct 9, 2026POS AM EDGAR
  8. Oct 9, 2026POS AM EDGAR
  9. Oct 9, 2026POS AM EDGAR
  10. Sep 28, 20266-K EDGAR
  11. Sep 24, 20266-K EDGAR
  12. Sep 24, 202625 EDGAR
  13. Sep 14, 20266-K EDGAR
  14. Sep 1, 20264 EDGAR
  15. Aug 7, 20264 EDGAR
  16. Aug 7, 20264 EDGAR
  17. Aug 7, 20264 EDGAR
  18. Aug 5, 20266-K EDGAR
  19. Jul 30, 20266-K EDGAR
  20. Jul 30, 20266-K EDGAR

The 230 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

1 open-market trades by officers, directors and large owners since October 2021: 1 buys and 0 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Aug 28, 2026Souza CristianoDirectorBuy335,000$1.51$505.9KForm 4

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Waldencast plc is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARWaldencast plc1
  • CIK0001840199
  • Filer statusNon-accelerated filer an emerging growth company; not a shell company4
  • Incorporated inX04
  • Industry code (SIC)2844 Perfumes, Cosmetics & Other Toilet Preparations1
  • SEC reviewing officeOffice of Industrial Applications and Services, Division of Corporation Finance1
  • Business address81 Fulham Road, London, X0 SW3 6RD1
  • Phone44 (0)20 3196 02641
  • Shares outstanding118,217,630 Common Class A shares; 10,019,983 Common Class B shares as of Dec 31, 20254
  • AuditorDeloitte & Touche LLP, Costa Mesa, California PCAOB ID 34; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJan 22, 20211
  • Filings264 in all: 6-K (60), 425 (34), 3 (18), CORRESP (17), 8-K (16), UPLOAD (12), SC 13G (10), EFFECT (8)1
    All 44 form types

    424B3 (7), F-4/A (7), SC 13G/A (7), 20-F (5), 4 (5), SC 13D (5), 10-Q (4), 20-F/A (3), POS AM (3), S-1/A (3), SC 13D/A (3), SCHEDULE 13D/A (3), SEC STAFF LETTER (3), 144 (2), 6-K/A (2), 8-K/A (2), DRS (2), F-3 (2), NT 10-Q (2), SCHEDULE 13G (2), SCHEDULE 13G/A (2), 10-K (1), 15-12G (1), 25 (1), 25-NSE (1), 424B4 (1), 8-A12B (1), CERT (1), F-1 (1), F-1/A (1), F-4 (1), NT 20-F (1), S-1 (1), S-1MEF (1), S-8 (1), S-8 POS (1)

  • Latest filingsAnnual report (20-F) Mar 13, 2026
    Quarterly report (10-Q) May 16, 2022
    Latest 8-K (8-K) Jul 26, 2022

Securities registered for trading

ClassSymbolExchange
Class A ordinary shares, par value $0.0001 per shareWALDNasdaq Stock Market LLC
Redeemable warrants, each warrant exercisable for one Class A ordinary share at an exercise price of $11.50 per shareWALDWNasdaq Stock Market LLC

From the cover page of the 20-F filed Mar 13, 2026 (Section 12(b) of the Exchange Act).4

Sources

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