NEWS ER
The Honest Company Reports Strong Third Quarter 2024 Results and Raises Full Year Outlook
The Honest Company (NASDAQ: HNST)reported strong Q3 2024 results with record revenue of $99 million, up 15.2% year-over-year. The company achieved positive net income of $165,000, an $8 million improvement from last year's loss. Gross margin expanded significantly by 710 basis points to 38.7%. Operating expenses increased by $3 million to $38 million. The company maintained a strong balance sheet with $53 million in cash and no debt. Based on strong performance, Honest raised its full-year 2024 outlook, projecting high single-digit revenue growth and adjusted EBITDA of $20-22 million.
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