- The Honest Company (NASDAQ:HNST) reports double-digit sales growth in its first report as a publicly-traded company.
- Sales of household and wellness products were up 53% Y/Y and skin/personal care sales rose 42%. Sales of diapers and wipes were down 2%.
- Retail channel sales increased 25% during the quarter, while digital sales rose 2% against a tough pandemic comparable.
- Gross margin decreased slightly in Q1, due primarily to a more normalized level of trade spend and higher input costs as compared a year ago.
- Adjusted EBITDA was -$0.1M vs. $4.5M a year ago.
- Chief Creative Officer Jessica Alba: "As we look to the future, we will continue to use consumer insights to drive our focus on current and future trends in self-care, clean beauty, and skincare as well as our key product categories of Diapers and Wipes, Household and Wellness."
- Shares of Honest Company are up 1.44% in AH trading after the earnings topper.