Waldencast Reports Q4 2025 and FY 2025 Financial Results: Flat Net Revenue, Adjusted EBITDA Growth for Obagi Medical and Milk Makeup.
ByAinvest
Friday, Mar 13, 2026 6:58 am ET1min read
WALD--
Waldencast reported FY 2025 net revenue of $272.1 million, flat to FY 2024, and Adjusted EBITDA of $16.1 million. Q4 2025 net revenue was $72.0 million, flat to Q4 2024, with Adjusted EBITDA of $6.6 million. Obagi Medical saw revenue acceleration, while Milk Makeup maintained US consumption growth through distribution expansion. The company advanced its strategic priorities in 2025, entering medical aesthetics and strengthening its financial flexibility.

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