$OLPX

OLAPLEX HOLDINGS, INC.

CIK:0001868726|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE (LOSS) INCOME - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Net sales	$ 99,369	$ 96,978
Cost of sales:
Cost of product (excluding amortization)	25,293	27,230
Amortization of patented formulations	2,416	2,392
Total cost of sales	27,709	29,622
Gross profit	71,660	67,356
Operating expenses:
Selling, general, and administrative	65,951	47,987
Amortization of other intangible assets	10,820	10,893
Total operating expenses	76,771	58,880
Operating (loss) income	(5,111)	8,476
Interest expense	7,132	13,725
Interest income	(2,702)	(5,952)
Other expense (income), net	142	(178)
(Loss) Income before provision for income taxes	(9,683)	881
Income tax (benefit) provision	(4,396)	416
Net (loss) income	$ (5,287)	$ 465
Net (loss) income per share:
Basic (in usd per share)	$ (0.01)	$ 0.00
Diluted (in usd per share)	$ (0.01)	$ 0.00
Weighted average common shares outstanding:
Basic (shares)	669,942,446	664,685,462
Diluted (shares)	669,942,446	666,460,714
Other comprehensive income:
Unrealized gain on derivatives, net of income tax effect	$ 139	$ 17
Total other comprehensive income	139	17
Comprehensive (loss) income	$ (5,148)	$ 482

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net (loss) income	$ (5,287)	$ 465
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Amortization of patent formulations	2,416	2,392
Amortization of other intangibles	10,820	10,893
Inventory write-off and disposal	203	1,064
Depreciation of fixed assets	82	87
Amortization of debt issuance costs	287	453
Deferred taxes	(4,360)	(95)
Share-based compensation expense	3,517	2,918
Other	606	309
Changes in operating assets and liabilities:
Accounts receivable, net	(8,757)	(8,882)
Inventory	(6,493)	(5,197)
Prepaid expenses and other current assets	46,160	(6,350)
Accounts payable	21,041	13,836
Accrued expenses and other current liabilities	(52,476)	(12,474)
Other assets and liabilities	(260)	(2,336)
Net cash provided by (used in) operating activities	7,499	(2,917)
Cash flows from investing activities:
Purchase of property and equipment	(146)	(48)
Purchase and development of software	(142)	(948)
Net cash used in investing activities	(288)	(996)
Cash flows from financing activities:
Proceeds from exercise of stock options	227	527
Principal payments of 2022 Term Loan Facility	0	(1,688)
Net cash provided by (used in) financing activities	227	(1,161)
Net increase (decrease) in cash and cash equivalents	7,438	(5,074)
Cash and cash equivalents - beginning of period	318,731	585,967
Cash and cash equivalents - end of period	326,169	580,893
Supplemental disclosure of cash flow information:
Cash (refunded) paid for income taxes	(2,906)	615
Cash paid for interest	6,775	13,135
Supplemental disclosure of noncash activities:
Purchases of software not yet paid	15	22
Purchases of property and equipment not yet paid	$ 30	$ 74

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current Assets:
Cash and cash equivalents	$ 326,169	$ 318,731
Accounts receivable, net of allowances of $14,503 and $18,123	37,501	29,013
Inventory	66,364	60,215
Prepaid expenses and other current assets	16,227	62,387
Total current assets	446,261	470,346
Property and equipment, net	1,516	1,422
Intangible assets, net	834,864	847,821
Goodwill	168,300	168,300
Deferred tax assets	0	46
Other assets	9,253	9,552
Total assets	1,460,194	1,497,487
Current Liabilities:
Accounts payable	29,184	8,117
Accrued expenses and other current liabilities	32,758	85,304
Current portion of Related Party payable pursuant to Tax Receivable Agreement	9,206	9,206
Total current liabilities	71,148	102,627
Long-term debt	352,484	352,290
Deferred tax liabilities	929	5,283
Related Party payable pursuant to Tax Receivable Agreement	155,858	155,858
Other liabilities	1,789	2,039
Total liabilities	582,208	618,097
Commitments and contingencies (Note 12)
Stockholders’ equity (Notes 1 and 10):
Common stock, $0.001 par value per share; 2,000,000,000 shares authorized, 671,711,593 and 669,076,651 shares issued and outstanding as of March 31, 2026 and December 31, 2025, respectively	672	669
Preferred stock, $0.001 par value per share; 25,000,000 shares authorized and no shares issued and outstanding	0	0
Additional paid-in capital	346,086	342,345
Accumulated other comprehensive loss	(198)	(337)
Retained earnings	531,426	536,713
Total stockholders’ equity	877,986	879,390
Total liabilities and stockholders’ equity	$ 1,460,194	$ 1,497,487