Waldencast plc
- Market Cap (Float-Adj) (Float-adjusted market cap computed by the low-float screener — matches the screener row. May differ from the standard cap (price × all shares outstanding) reported elsewhere.)
- $111.9M
- Price
- $0.8794
- % Change (Daily % change from the live per-ticker quote feed.)
- -4.69%
- Volume
- 277.0K
About
Waldencast Plc develops and operates a beauty and wellness platform by developing, acquiring, accelerating, and scaling the next generation of conscious, purpose-driven brands. It intends to seek brands with a direct connection to consumers whose goals include pursuing social responsibility, inclusiveness, sustainability, and transparency. The company was founded by Michel Brousset and Hind Sebti on December 8, 2020 and is headquartered in White Plains, NY.
Quick stats
Shares outstanding127.2M
Computed float58.1M
Float / shares45.6%
Key info
SectorConsumer Defensive
IndustryHousehold & Personal Products
CIK (Central Index Key — the unique ID the SEC assigns to every filer. Use it to look up the company's filings on EDGAR.)0001840199
Websitehttp://www.waldencast.com
AI Summary
AI-generated1/10
majormixedearnings
Waldencast plc Announces First Half 2026 Financial Results
Waldencast reported H1 2026 continuing-operations revenue of $26.1 million, down 57.1% year-over-year, with a net loss from continuing operations of $94.9 million and a $52.3 million Milk Makeup goodwill impairment.
The company completed the sale of Obagi Medical to Bridgepoint on July 30, 2026 in a transaction valued at up to $460 million, bringing total expected Obagi disposal proceeds to up to $542.5 million; proceeds repaid $178.4 million of Lumina debt in full, leaving roughly $138.6 million in cash as of August 31, 2026.
Waldencast will voluntarily delist from Nasdaq, deregister, and seek OTC quotation under ticker 'MLKM' with semi-annual disclosures, arguing public-company costs are disproportionate at its size; it plans 80-90% elimination of $18.5 million in annual HQ costs and a shareholder-approved rename to Milk Makeup plc.
Management's long-term 'North Star' is doubling 2025 revenue over five years at mid-20s Adjusted EBITDA margins once back at scale, though this is explicitly not financial guidance.
Red flags
- Continuing operations revenue down 57.1% YoY; Adjusted EBITDA swung to -$23.2M
- Additional $52.3M goodwill impairment; $62.8M goodwill remains and further impairment possible if forecasts miss by 5%
- Voluntary Nasdaq delisting and SEC deregistration reduces liquidity, transparency, and index eligibility
- Prior financial restatement (2020-2022) and disclosed material weaknesses in internal control over financial reporting with ongoing regulatory investigations
- Reliance on contingent consideration, vendor notes, and earnouts (~$94M) whose collection depends on divested Obagi performance
- Milk Makeup turnaround dependent on new, largely unproven leadership team and August 2026 relaunch