Oddity Tech reported a 25% revenue decline in Q2 2026, which management attributes to a technical 'algorithm dislocation' with its largest advertising partner, causing audience drift and higher customer acquisition costs for IL MAKIAGE. The company is prioritizing technical remediation over growth for IL MAKIAGE, while SpoiledChild remains on track for $350 million in 2026 revenue. Oddity launched METHODIQ, a new brand targeting the 'beauty and medicine' convergence, and plans to launch 'BRAND 4' in 2027. The company repurchased 11.7 million shares year-to-date, reducing shares outstanding by about 20%, and bought back $50 million face value of zero-coupon exchangeable notes for $35 million. Management expects IL MAKIAGE to return to growth by 2027, with gross margins recovering to the high 60s.
ODDITY Tech Ltd. Class A Ordinary SharesCompany repurchased 11.7 million shares YTD, cutting shares outstanding ~20%, and bought back $50 million face value of exchangeable notes for $35 million
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