W
Waldencast plc
WALDCIK 0001840199NasdaqNon-AcceleratedEmerging GrowthPerfumes, Cosmetics & Other Toilet Preparations
Period
FY 2025
Revenue
$272.07M
Net Income
$-229.75M
Total Assets
$746.16M
Equity
$461.88M
Shares Out
8.00M
Op. Cash Flow
$-12.82M
Business
Waldencast plc operates a multi-brand beauty and wellness platform that develops, acquires, accelerates and scales purpose-driven consumer brands. It offers professional medical-grade skincare (prescription, OTC and cosmetic products) and clean prestige makeup and skincare products across extensive product portfolios. The company’s key segments are Obagi Medical (professional skincare anchored by physician-dispensed systems) and Milk Makeup (clean, vegan prestige makeup and related skincare). Waldencast distributes through physician-dispensed channels, direct-to-consumer e-commerce, retail partners such as Sephora, and through international distributors in over 80 countries.
Summary from filing dated 2025-03-20
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2021 2021-12-31 | FY 2020 2020-12-31 |
|---|---|---|---|
| Formation and operating costs | 9 | — | |
| Loss from operations | −9 | — | |
| Interest income on operating account | 1,146 | — | |
| Interest income on marketable securities held in Trust Account | 52,047 | — | |
| Offering expenses related to warrant issuance | −719,201 | — | |
| Change in fair value of forward purchase agreement liabilities | −2 | — | |
| Change in fair value of warrant liabilities | −3 | — | |
| Total other expense | −5 | — | |
| Net loss | −14 | — | |
| Weighted average shares outstanding, Class A ordinary shares subject to possible redemption (in Shares) | 27 | — | |
| Basic and diluted net loss per share, Class A ordinary shares subject to possible redemption (in Dollars per share) | −0.41 | — | |
| Weighted average shares outstanding, Non-redeemable Class B ordinary shares (in Shares) | 8 | — | |
| Basic and diluted net loss per share, Non-redeemable Class B ordinary shares (in Dollars per share) | −0.41 | — |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2021 2021-12-31 | FY 2020 2020-12-31 |
|---|---|---|---|
| Cash | 2 | — | |
| Prepaid expenses current | 204,821 | — | |
| Deferred offering costs associated with initial private offering | — | 166,792 | |
| Total current assets | 2 | 166,792 | |
| Prepaid expenses non-current portion | 33,050 | — | |
| Investment held in Trust Account | 345 | — | |
| Total assets | 347 | 166,792 | |
| Accounts payable and accrued expenses | 272,953 | 177,743 | |
| Due to related party | 95,000 | — | |
| Total current liabilities | 367,953 | 177,743 | |
| Warrant liabilities | 21 | — | |
| Deferred legal fees | 8 | — | |
| Forward purchase agreement liabilities | 13 | — | |
| Working Capital Promissory Note related party | 2 | — | |
| Deferred underwriters discount | 12 | — | |
| Total liabilities | 57 | 177,743 | |
| Commitments & Contingencies (Note 6) | — | — | |
| Class A ordinary shares subject to possible redemption, 34,500,000 and no shares at redemption value of $10.00 at December 31, 2021 and December 31, 2020, respectively | 345 | — | |
| Preference shares, $0.0001 par value; 5,000,000 shares authorized; none issued and outstanding | — | — | |
| Class A ordinary shares, $0.0001 par value; 500,000,000 shares authorized; no shares issued and outstanding (excluding 34,500,000 and no shares subject to redemption) at December 31, 2021 and December 31, 2020, respectively | — | — | |
| Class B ordinary shares, $0.0001 par value; 50,000,000 shares authorized; 8,625,000 and no shares issued and outstanding at December 31, 2021 and December 31, 2020, respectively | 863 | — | |
| Additional paid-in capital | — | — | |
| Accumulated deficit | −55 | −10,951 | |
| Total shareholders deficit | −55 | −10,951 | |
| Total liabilities, redeemable ordinary shares and shareholders deficit | 347 | 166,792 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2021 2021-12-31 |
|---|---|---|
| Increase in deferred legal costs | 8 | |
| Change in fair value of warrant liabilities | 3 | |
| Change in fair value of forward purchase agreement liabilities | 2 | |
| Offering costs allocated to warrants | 719,201 | |
| Prepaid assets | −237,871 | |
| Accounts payable and accrued expenses | 272,953 | |
| Due to related party | 95,000 | |
| Net cash used in operating activities | −815,682 | |
| Investment of cash into Trust Account | −345 | |
| Net cash used in investing activities | −345 | |
| Proceeds from issuance of Founder Shares | 25,000 | |
| Proceeds from Initial Public Offering, net of underwriters discount | 338 | |
| Proceeds from issuance of Private Placement Warrants | 9 | |
| Proceeds of Working Capital Promissory Note related party | 2 | |
| Payments of offering costs | 1 | |
| Net cash provided by financing activities | 347 | |
| Net Change in Cash | 2 | |
| Initial value of warrant liabilities | 18 | |
| Deferred underwriters discount payable charged to additional paid-in capital | 12 | |
| Initial value of forward purchase agreement liabilities | 12 |
Filings
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