The Honest Company (NASDAQ: HNST), a digitally native, mission-driven brand focused on leading the clean lifestyle movement, today reported financial results for the three and six months ended June 30, 2022.
Highlights
“I’m pleased we delivered mid-single digit revenue growth in the quarter despite an uncertain consumer environment. The Honest brand continues to resonate with today’s conscious consumer, as reflected in our strong consumption trends, healthy growth in our digital channel, and continued new distribution wins,” said Chief Executive Officer Nick Vlahos.
“We are maintaining our revenue growth outlook in the second half of the year. Given cost pressures that continue to impact the industry and Honest, we have put plans in place to mitigate the impact of inflation, including pricing, margin-accretive innovation, and cost savings, which we’re confident will drive long-term gross margin improvement. At the same time, we continue supporting our long-term growth plans by funding high-return initiatives that are expected to increase consumer demand, elevate our digital platform, and deliver a robust innovation pipeline for 2023 and beyond. Our 2022 outlook continues to expect sequential Adjusted EBITDA improvement over the back half of the year, and positive Adjusted EBITDA in the fourth quarter.”
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