The CPA dislocation is the dominant driver — monitor May CPA improvement claims for confirmation in Q2 results. The share buyback provides a floor but does not offset fundamental deterioration. Watch for any update on advertising partner remediation or guidance revision in the next 8-K.
Price Chart
Executive Summary
Oddity Tech reported Q1 2026 revenue of $197.9M (down 26% YoY) and a GAAP net loss of $21.4M vs net income of $37.8M a year ago, driven by a severe CPA dislocation with its largest advertising partner. The company guided Q2 revenue down 25-30% YoY and expects positive full-year adjusted EBITDA, but the magnitude of the advertising disruption and the loss of first-order customers will pressure repeat business throughout 2026.
Key Financial Metrics
Key Facts
- Q1 2026 net revenue $197.9M, down 26% YoY from $268.1M
- GAAP net loss of $21.4M vs net income of $37.8M in Q1 2025
- Adjusted EBITDA of -$7.0M vs +$52.4M in Q1 2025
- Diluted loss per share of $(0.38) vs diluted EPS of $0.63 in Q1 2025
- IL MAKIAGE CPA with largest advertising partner surged 83% in H1 through May vs prior year
- Q2 2026 revenue expected to decline 25-30% YoY
- Full-year 2026 adjusted EBITDA expected to be positive
- Board authorized $200M share buyback; $82.3M deployed in Q1, reducing shares outstanding by 10.6%
- Cash and investments of $667.4M; $350M undrawn credit facilities
Financial Impact
Revenue decline of $70.1M YoY in Q1; net income swing of -$59.2M YoY; adjusted EBITDA swing of -$59.4M YoY
Risk Factors
- CPA dislocation may persist or worsen if advertising partner algorithm changes are not fully remediated
- Loss of first-order customers in Q1 will reduce repeat revenue across the remainder of 2026
- Q2 revenue guidance of -25% to -30% YoY implies continued top-line pressure
- Gross margin compression from product mix and lower AOV may persist
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3305002 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 9, 2026 5w ago | 6-K | $16.48 $19.14 | ▼ −16.14% | ▼ −13.94% | $22.43 (−36.10%) |
Aug 21, 2026 8w ago | 6-K | $13.22 $18.29 | ▲ +38.35% | ▲ +38.88% | $22.43 (+69.67%) |
Jun 16, 2026 17w ago | 6-K | $10.97 $16.34 | ▲ +48.95% | ▲ +47.63% | $22.43 (+104.47%) |
Jun 12, 2026 18w ago | 6-K | $11.72 $17.08 | ▲ +45.73% | ▲ +43.95% | $22.43 (+91.38%) |
Jun 2, 2026 19w ago | 6-K | $9.84 $17.01 | ▼ −72.87% | ▼ −74.43% | $22.43 (−127.95%) |
Jun 2, 2026 19w ago | Press Release | $9.84 $17.01 | ▼ −72.87% | ▼ −74.43% | $22.43 (−127.95%) |
US Market Status
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