Income statement, balance sheet and cash flow statement for the last 5 fiscal years, taken from the XBRL data Waldencast plc files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2021
FY2023
FY2024
FY2025
Revenue
94.4
142
218
274
272
Cost of revenue
29.1
55
76.6
82.1
89.1
Gross profit
65.3
87.4
142
192
183
Research and development
4.38
6.09
3.2
Selling, general and administrative
60.4
83
224
245
248
Operating expenses
64.8
89.1
224
250
401
Operating income
0.53
-1.63
-81.9
-58.6
-218
Interest expense
6.28
11.1
18.9
17.2
Interest income
0.05
Other non-operating income
-6.29
-8.35
-31
10
-44.7
Pre-tax income
-5.76
-9.97
-113
-48.5
-262
Income tax
-3.39
9.6
-6.98
0.11
-14.2
Net income to minority interests
0
0
-16
-6.21
-18.3
Net income
-2.37
-19.6
-90
-42.4
-230
EBITDA
0.53
-1.63
-78.1
-55.3
-214
EPS, basic
-0.30
-2.45
-0.99
-0.39
-2.01
EPS, diluted
-0.30
-2.45
-0.99
-0.39
-2.01
Shares, basic (weighted)
8
8
91.2
109
114
Shares, diluted (weighted)
8
8
91.2
109
114
Dividend per share
0.26
0.25
Balance sheet
FY2021
FY2021
FY2023
FY2024
FY2025
Cash and equivalents
8.57
12.8
21.1
14.8
30.4
Receivables
18.7
Inventory
21.6
55.7
53.1
54.6
Other current assets
0.28
1.36
0.43
4.81
Total current assets
0.17
59
107
104
127
Property, plant and equipment
1.2
5.93
5.83
6.24
Lease right-of-use assets
0
11.6
9.84
7.74
Goodwill
44.5
44.5
335
330
178
Intangible assets
79.6
583
526
427
Other non-current assets
0.29
0.38
0.54
0.57
Total assets
0.17
185
1,043
976
746
Accounts payable
0.18
12.7
Short-term debt
15.4
8.53
29.5
0.77
Total current liabilities
0.18
40.8
62.7
76.9
74.5
Long-term debt
103
151
137
136
Lease liabilities
0
15.5
12.7
10.4
Other non-current liabilities
0.57
0.05
0.11
0.1
Total liabilities
0.18
145
273
246
246
Total debt
119
160
167
137
Paid-in capital
100
872
951
981
Retained earnings
-0.01
-64.8
-247
-289
-519
Other comprehensive income
-0.03
-0.15
0.25
-0.38
Shareholders' equity
-0.01
39.2
625
662
462
Minority interests
0
145
67.6
38.2
Total equity
-0.01
39.2
769
730
500
Total liabilities and equity
0.17
185
1,043
976
746
Shares outstanding
8
Cash flow statement
FY2021
FY2021
FY2023
FY2024
FY2025
Net income
-2.37
-19.6
-106
-48.6
-248
Depreciation and amortization
0
0
3.8
3.3
3.1
Stock-based compensation
0
0
9.24
9.39
11.8
Deferred income tax
-3.04
9.37
-7.02
-1.19
-17.4
Change in receivables
-16.7
-5.06
-2.07
-3.16
-2.7
Change in inventory
4.44
-6.01
-1.3
2.58
-0.87
Change in payables
0.27
Cash from operations
-7.43
3.53
-29.8
-8.82
-12.8
Capital expenditures
-1.05
-0.42
-1.59
-2.71
-3.43
Purchases of investments
-345
Sales and maturities of investments
345
Cash from investing
-1.71
-3.79
-1.99
-2.92
76.2
Debt issued
0
110
0
0
396
Debt repaid
-9.37
-72.5
-8.78
-8.75
-405
Stock issued
0.03
Dividends paid
-2.04
-2
0
Cash from financing
14.3
5.16
44.3
5.58
-47.2
Exchange rate effect
0
-0.03
-0.15
-0.12
-0.6
Net change in cash
5.18
4.9
12.6
-6.16
16.2
Free cash flow
-8.49
3.11
-31.4
-11.5
-16.2
Interest paid
5.45
10
17.3
15.1
21.4
Income taxes paid
0.01
0
0
0
0.21
Key metrics
Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $1.03 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
67.3%
Gross profit / revenue.
Operating margin
-80.0%
Operating income / revenue.
EBITDA margin
-78.8%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-96.4%
Pre-tax income / revenue.
Net margin
-84.4%
Net income / revenue.
FCF margin
-6.0%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
-4.7%
Cash from operations / revenue.
Return on equity (ROE)
-40.9%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-26.7%
Net income / average total assets.
Return on invested capital (ROIC)
-24.9%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue
91.1%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
4.3%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
1.3%
Capital expenditures / revenue.
D&A / revenue
1.1%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
-0.7%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
-4.6%
Gross profit vs the same period a year earlier. Only from a positive base.
Book value growth, 1y
-30.3%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
-23.5%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
4.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.70x
Current assets / current liabilities.
Quick ratio
0.41x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.41x
(Cash + short-term investments) / current liabilities.
Debt / equity
0.30x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
18.3%
Total debt / total assets.
Liabilities / assets
33.0%
Total liabilities / total assets.
Net debt
$106.1M
Total debt - cash - short-term investments. Negative means more cash than debt.
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic
-$2.01
Net income per basic share, as reported (split-adjusted).
Revenue per share
$2.39
Revenue / diluted weighted shares.
FCF per share
-$0.14
Free cash flow / diluted weighted shares.
Operating cash flow per share
-$0.11
Cash from operations / diluted weighted shares.
Book value per share
$4.05
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.49x
Market cap / revenue.
P/B
0.29x
Market cap / shareholders' equity. Only when equity is positive.
EV/Sales
0.88x
Enterprise value / revenue.
FCF yield
-12.3%
Free cash flow / market cap.
Earnings yield
-173.4%
Net income / market cap (the inverse of P/E).
What was Waldencast plc's revenue in fiscal 2025?
Waldencast plc reported revenue of $272.1M for fiscal 2025, 0.7% lower than the year before.
Was Waldencast plc profitable in fiscal 2025?
No. It reported a net loss of $229.7M.
How much free cash flow did Waldencast plc generate in fiscal 2025?
Cash from operations of $12.8M minus capital expenditures of $3.4M left free cash flow of -$16.2M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.