Wednesday, April 30, 2025
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Solid Q1 results. The company reported Q1 revenue growth of 13.4% year over year to $16.0 million, roughly in line with our estimate of $16.2 million. Adj. EBITDA of $0.9 million was better than our estimate of $0.4 million.
B2C momentum. The strong quarterly revenue growth was driven by the company’s B2C segment. Importantly, the company is in the midst of optimizing pricing for its popular beauty app subscription and recently introduced a higher margin premium subscription plan. We believe the B2C segment is poised for continued revenue growth throughout 2025.
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