Revenue growth has stagnated to 2.5% in 2026Q1, while gross margins have faced significant pressure, declining from historical peaks to 57.7% in 2025Q4.
| Sales/Revenue | 425.35M | 422.96M | 422.67M | 458.3M | 704.27M | 598.37M | 282.25M | 148.21M |
| Revenue Growth % | 1.1% | 0.07% | -7.77% | -34.93% | 17.7% | 112% | 90.44% | - |
| Cost of Goods Sold | 149.16M | 172.9M | 130.38M | 139.67M | 184.72M | 124.54M | 102.66M | 31.17M |
| COGS % of Revenue | - | 40.88% | 30.85% | 30.48% | 26.23% | 20.81% | 36.37% | 21.03% |
| Gross Profit | 276.19M | 250.06M | 292.29M | 318.63M | 519.55M | 473.82M | 179.59M | 117.03M |
| Gross Margin % | 64.93% | 59.12% | 69.15% | 69.52% | 73.77% | 79.19% | 63.63% | 78.97% |
| Gross Profit Growth % | - | -14.45% | -8.27% | -38.67% | 9.65% | 163.84% | 53.45% | - |
| Operating Expenses | 282.83M | 233.81M | 225.35M | 210.41M | 155.16M | 139.67M | 93.49M | 56.7M |
| OpEx % of Revenue | - | 55.28% | 53.32% | 45.91% | 22.03% | 23.34% | 33.12% | 38.26% |
| Selling, General & Admin | 261.08M | 243.11M | 181.69M | 168.94M | 113.88M | 98.88M | 37.17M | 56.7M |
| SG&A % of Revenue | - | 57.48% | 42.99% | 36.86% | 16.17% | 16.52% | 13.17% | 38.26% |
| Research & Development | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 2M | -9.3M | 43.67M | 41.47M | 41.28M | 40.79M | 56.32M | 0 |
| Operating Income | -6.64M | 16.25M | 66.94M | 108.22M | 364.39M | 334.15M | 86.09M | 60.34M |
| Operating Margin % | -1.56% | 3.84% | 15.84% | 23.61% | 51.74% | 55.84% | 30.5% | 40.71% |
| Operating Income Growth % | - | -75.72% | -38.15% | -70.3% | 9.05% | 288.13% | 42.69% | - |
| EBITDA | 47.22M | 70.16M | 120.43M | 158.51M | 413.54M | 383.1M | 131.97M | 60.34M |
| EBITDA Margin % | 11.1% | 16.59% | 28.49% | 34.59% | 58.72% | 64.02% | 46.76% | 40.71% |
| EBITDA Growth % | -56.69% | -41.74% | -24.02% | -61.67% | 7.95% | 190.29% | 118.72% | - |
| D&A (Non-Cash Add-back) | 53.86M | 53.91M | 53.5M | 50.29M | 49.15M | 48.94M | 45.88M | 0 |
| EBIT | 10.09M | 16.25M | 89.9M | 136.47M | 349.19M | 336.76M | 85.9M | 60.34M |
| Net Interest Income | -23.97M | -27.31M | -34.21M | -39.13M | -41.18M | -61.15M | -38.65M | 39K |
| Interest Income | 11.58M | 14.83M | 25.38M | 18.83M | 2.77M | 0 | 0 | 39K |
| Interest Expense | 35.55M | 42.14M | 59.59M | 57.95M | 43.95M | 61.15M | 38.65M | 0 |
| Other Income/Expense | -10.11M | -22.43M | -40.02M | -31.5M | -59.15M | -58.55M | -38.84M | 542K |
| Pretax Income | -16.74M | -6.18M | 26.91M | 76.72M | 305.24M | 275.61M | 47.26M | 60.88M |
| Pretax Margin % | -3.94% | -1.46% | 6.37% | 16.74% | 43.34% | 46.06% | 16.74% | 41.08% |
| Income Tax | -1.74M | 3.08M | 7.39M | 15.13M | 61.17M | 54.83M | 7.98M | 0 |
| Effective Tax Rate % | 10.38% | -49.78% | 27.46% | 19.72% | 20.04% | 19.89% | 16.89% | 0% |
| Net Income | -15M | -9.25M | 19.52M | 61.59M | 244.07M | 220.78M | 39.28M | 60.88M |
| Net Margin % | -3.53% | -2.19% | 4.62% | 13.44% | 34.66% | 36.9% | 13.92% | 41.08% |
| Net Income Growth % | -222.57% | -147.39% | -68.3% | -74.77% | 10.55% | 462.11% | -35.48% | - |
| Net Income (Continuing) | -15M | -9.25M | 19.52M | 61.59M | 244.07M | 220.78M | 39.28M | 60.88M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.02 | -0.01 | 0.03 | 0.09 | 0.35 | 0.34 | 0.06 | 0.09 |
| EPS Growth % | -222.95% | -147.44% | -67.77% | -74.03% | 2.94% | 461.06% | -35.46% | - |
| EPS (Basic) | - | -0.01 | 0.03 | 0.09 | 0.38 | 0.34 | 0.06 | 0.09 |
| Diluted Shares Outstanding | 669.94M | 666.46M | 665.4M | 677.58M | 691.01M | 648.79M | 648.12M | 648.12M |
| Basic Shares Outstanding | 669.94M | 666.46M | 661.98M | 654.59M | 649.09M | 648.79M | 648.12M | 648.12M |
| Dividend Payout Ratio | - | - | - | - | - | - | 1196.6% | 106.81% |
Brand saturation and competition
As reported in recent financial filings, OLPX revenue growth has fluctuated significantly, with the most recent quarterly figures showing a modest 2.5% increase, suggesting that the brand's initial hyper-growth phase has transitioned into a period of volatility and potential market saturation within the prestige hair care segment.
The inconsistent year-over-year revenue performance indicates that the company is struggling to maintain its historical momentum as the novelty of its bond-building technology faces increased competitive pressure. Investors should monitor whether this volatility reflects a permanent shift in consumer demand or merely a digestion period following aggressive historical expansion.
Based on the provided income statement data, OLPX has experienced significant gross margin compression, falling from historical highs near 70% to 57.7% in 2025Q4, which suggests that the company may be forced to utilize promotional discounting to defend its shelf space against lower-priced market entrants.
The inability to consistently maintain gross margins above 60% indicates that the brand's pricing power is being tested by the proliferation of 'dupe' products. This trend warrants further investigation into whether the company is sacrificing long-term brand equity to sustain short-term volume in a crowded retail environment.
According to the company's income statements, operating margins have deteriorated from a peak of 23.5% in 2024Q3 to negative territory in recent quarters, primarily driven by an inability to scale SG&A expenses efficiently relative to the stagnant top-line performance observed over the last ten quarters.
The persistent rise in SG&A relative to gross profit suggests that the company is spending heavily on customer acquisition and brand defense without achieving a commensurate return in operating income. This lack of operating leverage implies that the current cost structure may be misaligned with the company's current growth trajectory.
As indicated by the financial statements, OLPX has frequently reported net losses despite periods of positive operating income, suggesting that non-operating items or tax-related adjustments are significantly impacting the bottom line and obscuring the underlying profitability of the core business operations for shareholders.
The divergence between operating income and net income suggests that investors should focus on adjusted metrics to understand the true cash-generating capability of the firm. The consistent presence of stock-based compensation further dilutes the quality of reported earnings, necessitating a cautious approach to valuation based on GAAP net income.
Based on the reported figures, the primary risk to the OLPX narrative is the potential for permanent margin compression, as the company's reliance on high-cost marketing to combat 'dupe' sentiment appears to be failing to drive meaningful revenue growth or bottom-line stability for the firm.
Short-sellers would likely focus on the disconnect between the company's premium brand identity and its deteriorating operating margins. If the brand cannot successfully differentiate its chemistry from lower-cost alternatives, the current valuation may be vulnerable to further downward revisions as the market adjusts to a lower-growth reality.
Quick answers to the most common questions about buying OLPX stock.
For fiscal year 2025, Olaplex Holdings, Inc. (OLPX) reported total revenue of $423.0M. This represents a 185.4% increase compared to $148.2M in 2019.
Olaplex Holdings, Inc. (OLPX) reported a net loss of $9.3M for the fiscal year ending 2025.
Olaplex Holdings, Inc. (OLPX) reported an operating income of $16.3M, resulting in an operating profit margin of 3.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Olaplex Holdings, Inc. (OLPX) generated $250.1M in gross profit for the year, representing a gross profit margin of 59.1%. This demonstrates the company's core pricing power and production efficiency.