OLPX - Earnings call 4 2023 | Olaplex Holdings, Inc.

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Operator

Greetings and welcome to the Olaplex Holdings, Inc. Fourth Quarter and Fiscal Year 2023 Earnings Results Conference Call. At this time, all participants are in a listen-only mode. [Operator Instructions].

As a reminder, this conference is being recorded. pleasure Relations. your my Vice Patrick now Investor President, is to host, introduce Flaherty, It you. Thank go Please ahead.

Patrick Flaherty

Thank and you, good morning.

Officer. Joining Chief me Financial Executive Baldwin, Officer; and today Eric Tiziani, are Amanda Chief

remind we you statements Before which including Olaplex's outlook forward-looking about are would matters business I like and today, that will that projected other make differ start, management certain the of statements to referenced in issued today. such subject or and uncertainties is materially by . Each to to results those statement release could forward-looking earnings statements. actual company's in the implied from cause risks

are factors ir.olaplex.com. under makes at statements company and the on these at regarding information section www.sec.gov regarding earnings the note in heading with forward-looking the Additional the and the release available company's company's Relations appears website that Investor the Securities the cautionary of and filings in Commission Exchange

call results or statements these be a management date and certain this call, on financial performance. forward-looking not in management the or isolation will of which any considered The no believes useful measures, update in original prepared should this GAAP. this only call, of Also to during revise undertake speak we discuss as obligation presentation with statements. can measures in of evaluating The the for non-GAAP non-GAAP substitute accordance financial be company's as of

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weight independently that and our give available or are or industry available publications as Furthermore, and other based not other The not to Additionally, verified as certain to during and of refer these information on you limitations, publications these contained cautioned the management this data estimates. are involves to this sources. in has well data the undue points, information company publicly industry publicly information. estimates accuracy internal completeness call, forecasts assumptions will and

the . to Amanda. I that, will now turn With call over

Amanda Baldwin

and earnings and pivotal Thank you, point Patrick. in excited I I'm that to first CEO execute potential. bright this speak to a us. build for and call foundation its believe true its of strategy my and develop joining with and morning, evolution. a a the harnesses has am to Olaplex today achieve extraordinary as you Good firmly that unique its future, honored on to Olaplex, It's pleasure at I thank business strengths upon . company's lead you a everyone,

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some For a early call, and myself provide on today's observations of will business. share of I on background bit the my

cover for XXXX. Following pass for to outlook ahead. quarter will then the year financial our our this, and call who will the discuss I Eric, I over results will priorities fourth

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it pass to and our on report to over now outlook will I that, results our fourth Eric XXXX. quarter With for

Eric Tiziani

the to morning, are you, we we Amanda everyone. leading the employees I'd Amanda, that taking this like Amanda business. has Olaplex, of excited less company impact, made and of team. months thrilled that significant direction behalf to about she's all X and have Thank good than at say the Since the ago, joining On a are

quarter, were results last several guidance latest which positive in another progress provide on results the the to demand start, Similar like of update that say our an with in were landed on believe that forward our on showing are these stabilized to measure our expectations metrics. upper end tracking that We line trend. To XXXX to I'll step a all demand QX trend. metrics we on I'd

year accounts full QX sell-through XXXX the of rebalancing was Notably, last a key QX customers specialty First, as retail sell-through to trend versus decline also better lap in XXXX was QX at last from sell-in year Pro or XX% XX% year, versus down sales from down net year down last last XX.X% versus our XX% we year, than with XXXX versus comparable certain ago. are year. inventory and and beginning

believe inventory position, that in building there items months our in we major As core quarter, inventory shared our our on-hand the on we last channels. and position a accounts is remain at healthy no

Second, aggregated sequentially absolute sell-out an dollar sales dollars on basis at XXXX XXXX in versus accounts key QX by XX%. QX grew

expectation season, holiday the line kits. during including given This what of seen the our with historically our holiday was in sell-through we've

Next, the performance growing investments. marketing off quarter double compared digits generated strong, as this third quarter we the our from of olaplex.com QX consecutive of to And build for up XXXX. business remain year-over-year increased fourth believe to by continues in the momentum and

hair external care consumers or our strong brand Olaplex with tied for consistent finally, industry-leading. #X ranked previous to metrics our #X tracker, hair And brand is prestige According remain and health among quarters, the XXXX, I to XX include products quality from my am XX which QX excited top for equities, of about. Best XX Hair, in and care for up talk highest premium brand

$XX.X retail turning fourth our By $XX expectations. results Now direct-to-consumer our declined sales the our to XXXX, channel, channel to specialty of to as down to XX.X% The quarter the decreased XX.X% sales for and $XX.X to were to declined year-over-year XX.X% professional quarter. line $XXX.X Net channel in million, million; sales million. fourth with X.X% compared financial million.

fourth from down year-over-year. quarter, profit in XXXX. inventory in basis to XX.X%, from points points the points points declined ago XX promotional this higher related gross basis XXX on geography, compared of costs. was decline obsolescence to and international product and a from XX.X% the reserves, of XXX year XX.X% By quarter XXX was the U.S. Approximately fourth basis is allowance margin flat Adjusted basis inflation

in warehouse fourth favorable offset than more $XX.X $XX XXXX. in an to attributable year basis Adjusted from in and as and lower of costs payroll million increase expansion point SG&A workforce result XXX the grew product and primarily increase basis and other expense in related prior marketing more sales of The expenses. increase primarily mix. XX.X% million to points the from SG&A adjusted from XXX These million the well distribution benefit, million is from as an $XX.X quarter $XX

to EBITDA share income decreased $XX.X declined XX.X% from or EBITDA quarter XXXX. $XX.X the year of was $X.XX XX.X% to XX.X% Adjusted million million a or Adjusted diluted $XX of margin versus $XX.X ago. year-over-year, Adjusted million in fourth diluted $X.XX million net share compared quarter fourth per XX.X% per in the XXXX.

the $XX.X balance we Turning on the quarter of inventory goal to of the levels Inventory continue quarter to the end against target at at our from make third lower months fourth progress our down hand. sheet. million our million to of end was to as $XXX.X

cash flow. to Turning

capital our healthy generated our we from improvement asset-light to generating cash XXXX, million remain cash We year model fiscal position. in profitability business working due continuous and During $XXX.X in a operations. high flow

from from and cash end Long-term in annual at $XXX million $XXX.X and and debt, generating the with QX fees of million equivalents cash the current portion XXXX. year of deferred up an of is increase income This an above interest the rate $XXX.X X%. ended end net We was million. of $XX.X million

turning our to outlook. Now financial

in and the As adjusted to range $XXX year range disclosed adjusted XXXX, Net $XXX this income million. million sales of $XXX million issued we $XXX million in $XXX EBITDA in to fiscal the our for the to of earnings in million, release expect of $XX range million, morning, net

with me year let walk for net XXXX. you fiscal assumptions sales. through Beginning Now our

now XXXX, normalized of level for base the dollar X our account we second on half experienced the major of volume build for product all level seasonality assumes in on drivers. there, we volume XXXX, trend year. From our absolute plan adjusted I'll generally those and expected of For year represents sell-through sell-through fiscal in the that that a drivers elaborate basis.

new the year. be key products anticipate but timing this we XXXX starting contribution First, the expect of to later lower contribution from given than launches year, launches this from new incremental sales in in XXXX product

are launches cadence We X recent of year. continuing our per X to with

several front, are on that distribution taking actions the impact. we're success negative focused have our on long-term short-term a but Second,

on accounts and constrain in penetration XXXX and to as awareness opening up our improving decided We've customers. focus current new in key we

plan pricing rationalize that brand we accounts addition, off-strategy and not due for equity sub distributors certain to into build In to unauthorized resellers. do either distribution

using are made here already distributor rationalization. trace We various and those and technology, to target second half specifically progress anticounterfeiting good other efforts. to the in methods, our we're and track measures the third-party including planning XXXX, continue experts, so We've of anti-diversion

of XXXX we Lastly, impact customer as we in inventory had lap effects our a base. tailwind of XXXX the sales net sales the depressing net growth expect which year-over-year and rebalancing

This Geographically, growth benefit and most our in where able in America, lapping to expanded still in adhering international APAC cruelty-free include to our U.S. into rebalancing we're we business, regions our expect to which while in Latin we expect a XXXX continued recent the In be inventory commitment the small-scale execute we growth China launch XXXX. customer Mainland from emerging distribution of our will our XXXX. to brand.

note to Europe. and basis, a be impact, aforementioned net performance rationalization also be a sales expected year short-term We balanced channels volume similar for that we to the expect particularly is fiscal channel across in year-over-year On distributor XXXX. negative

how phasing perspective on Now from let in expect trends to develop me provide net XXXX. we additional commentary sales a

and momentum in expect the investments initiatives In year short, the course build we market. the of land over to as our

year, the half do in than underlying second more XXXX. a first the First, in QX we and we sell-through of the comparator difficult in have half particularly of

impact and half launches XXXX, will timing launches expect XXXX our our pipeline be the the more lapping product launches. those given a we from product second positive of significant new Second, QX from new in impact

in customer rebalancing we primarily of this tailwind prior the us year lapping the first in expect half of to year-over-year benefit the inventory year. Lastly,

partially with year. at of all will we will retail of channels. expect phased aforementioned in be $XX to the million, channel professional million expect outperform to however, when the year-over-year and this mind, is With the This net QX, offset, rationalization, looking our range in in DTC across the business for $XX QX, sales relative which distributor performance specifically we specialty

the down Moving P&L.

high the and year This margin as XX.X% promotional the representing we XX.X% move gross normalized this to lap basis last XXX inventory the XXXX, of range of result year. assume lapping of to of last obsolescence adjusted XXX inventory from is year For expectation in expansion promotions levels of full to the we excess points. levels customer year

addition, expect some which offset benefit to we costs. expect dedicated savings we In inflationary from product will than internal a in pressures more cost program

Furthermore, SG&A from accrual versus we XXXX that to Roughly made organization cost million expect payout full of range adjusted million XXXX. for bonus during is costs, additions XXXX. in count normalized head $XXX the $XX annualizing to a from expected in year an in $XX million, primarily XXXX of of million and half the increase expenses increase $XXX of the

puts for of maintain we that that organization foreseeable the a expect this to believe sales a level as We at our costs percentage future.

The and levels other required we we half to to invest is are of as expenses sales at the in return long-term growth. our expected increase believe marketing

of million to year to be advertising nonpayroll-related XXXX. $XX Specifically, marketing expect $XX.X we expenses in increase million full from $XX the million, an in and range

approximately expense achieve to be XX.X% XX.X% to effective in to of the tax assume XX.X% XX.X%. EBITDA $XX approximately million we million the net industry margin interest $XX an for all of adjusted with top-tier anticipate range to continuing to Taken year. and profitability together, rate adjusted We

long-term progress business. of and support the in confident the we are to are making that we conclusion, growth health Olaplex the In

the and has to the continue XXXX. to against for momentum that in build we expect as business strategy outlined execute priorities Amanda We our

prepared remarks. concludes This our

the for turn We the questions. will over call now to back Operator? operator

Operator

Ladies is first and the Today's coming Ashley questions. floor now is for open from from Instructions] gentlemen, Jefferies. [Operator question Helgans

Unknown Analyst

on Sidney for This is Ashley.

like and exciting can question most of hair kind price any can you So And of Any seems been then VP hair innovation. give give into seems since a color you're more have in further XXXX. you hire. beauty price focus just definitely that color new a we XXXX. specifically. hired saw if is outlook, in fragrance in really that consumers the of our on categories elasticity second like It it a bonding care innovation Wondering taken can have maybe on the seeing kind from you

Amanda Baldwin

meet all I'm brand that passionate you. that really and taking can place Great It's I has initiative This to world I'm a ramping story up about, who over of is question Amanda. I the best that big something really that talent Very person at is really about putting certainly innovation. the this that. something for about seen nice very The that an strategy the we think origin is is about referenced innovation never doing the lead before. to is in innovation engine. believer was do

thing R&D, harnessing we is and forward. that really and that do long of have relationships a a lot in One going terrific history innovation driving

say, our very With will do look really to course prestige business going for respect understand more trade that industry pricing, And I'm taking product of us drive come that I what the continues people as It line exciting does forward. powerful at sense the for a going about that's So years. consumer is to makes certainly forward coming strategy profoundly pricing over buy up have results. you next. that the believe We'll look in a be forward. place a as we the and very excited and a if hair made some do care have we changes. what they --

Unknown Analyst

future. work as the Excited with you to well in

Operator

The is Jungwon Kim of from next Cowen. coming question

Unknown Analyst

expectations for in seeing orders compares? to as you easier on demand Tom consumer what we talk in a year. terms about the rest just curious I It's the of channel across expect of date. the you're of lap Jungwon. a Do . lot Maybe to your sentiment increase for

Patrick Flaherty

Patrick. is this Tom,

line you the repeating breaking was there. Would question? up Your mind

Unknown Analyst

and year. Solon about the your asking the Just quarter-to-date Style and for expectations

Amanda Baldwin

what I you, you're but want sure just still can't I think make Tom, know asking. quite it's I hear to Amanda. we

overall that salon . correct? trends So Is within I demand about think category. asking the you're

Unknown Analyst

That's consumer sentiment? correct. And .

Amanda Baldwin

sentiment. consumer And

Okay. Yes.

been using where how as at in going have think certainly I of versus items salon, that So there their they're end how the the salon in purchasing client front the frequently they're shifts the is well retail. as

would the innovation brand is. much what and I at of salon core is stylists, that say However, very this the like the is what

focus or first It's to in is that understanding XX of huge mine of days continue so the the a been potential really how unlock channel. to

So I I do am changing, channel we But think, but certainly, potential. about still optimistic very can what has there. tremendous is still certainly that

With the consumer overall, hearing continues have a I something to reading in think Is more that the it beauty of again, category, retailer of enthusiasm partners. the within particular, broadly. it is -- is I'm that the continues all lot -- consumer beauty our that grow, really consumer industry is it that of certainly across strong to our

certainly our works to that So advantage.

Unknown Analyst

thinking on are promotional follow-up to strategies and promotion to year? employ A what about balancing do you sampling. key How expect this you

Eric Tiziani

take It's here. I'll one. that Eric Yes.

that think is not talked about we overly promotional some strategic past. participate in customer we the Olaplex but brand, events So do in to business. incrementality provide an are the key this we've could and

We continue do to that.

strategy quarter, worked Black well at look and that moment us. shifted Friday, around our the we back promotional As of kind Cyber Monday, for focus on we key that last to

the we there's incrementality. before. participate October key not promotional decided just you didn't And to that see in event year because it in Just the give based an participated on our another to example, we analysis had in

do to that make going and decisions analyses to continue on we're those So basis.

a having hearing still we're you. time hard think I

that is part that around is our our sampling question program I for of to of us. well would investment other an your area we working continue believe and is the think say I

retail and new We into programs conversion key size in our brand the of sampling to the category. to continue and with have benchmarks see full data run we from analytics we and ahead partners purchasing as the on

a that investment continues XXXX. plan for So our of to part be

Operator

from Lieberman The coming Barclays. Lauren of next question is

Lauren Lieberman

questions. I X have

The flat quarter. first Sales just or this were was more international. less

versus distributors Europe. So the impact where in unrelated, -- of the going you that is in is would which already the in And additionally really share work last fine-tuning? curious on is what forward particular? year, just And anything of worked demand-building some with XXXX, the has what say then strength rationalizing more the needs started you activities then us can just turnaround was what second,

Eric Tiziani

is in on in APAC, to for East. that XXXX strength of answer we saw in I'll that for hear you. that which is Asia the markets are we the fourth our relative Latin America, I've around distribution the in outlook in had comments good strength We quarter made XXXX. example, XXXX, lot Thanks East, it Middle we in that similar start international ways. seen for to the additional the some the And Lauren, questions. from a the just the question. continued we We these really Southeast in and know Middle for of added

And for those continue to be growth drivers us.

in And about You of asked about talked in the we yes, is impacts part of Europe. the that that distributor rationalization XXXX.

with expect in We seen as we we technology of actions that that use any system. diverted the European the So distributor We evidence trace of product, we've XXXX a really our the tools distributor available where about all as a working -- in from source talked our of track remove want right volume to to us. sales some take for and depressed potential example. we region to

what question second and your learn deployed. our was we worked then And absolutely demand XXXX. mentioned in already around that's and talked I about drivers sampling. approach, for We that us test

investment You upper in know we increased funnel activities. that our

We and spend the continue on to analytics learning. our based optimize

last selling quarter the that the the programming. of against upper the year. our saw in a U.S. to to lift marketing #X That examples, kit quarter we holiday give in so funnel fourth holiday in have fourth you nice we're putting And from the X helped us

and So we're going it forward. to learning take apply that

we is acquisition of channels, acquisition that even We funnel cost our the own right it the for of assets got lowering lowering also upper the was when olaplex.com. also into the saw that cost our the in in right

was how our for a that work us. So good learning across could funnel the on the really marketing best investment

Amanda Baldwin

sense a as a kind it's we're as approaching that build of on forward things. Lauren, go can little I well you bit give we how Amanda. of and

just of and something there's excited to that think certainly the around was unique is very I I very receptivity X with technology power referenced is of countries the respect I to something very was again, globally the brand globally XXX world, I the exciting. things of to sort brand think about international, in selling this the it's and that and know

about think go I how each market. after measured approach taking a we

be there -- say demand forward building is details it, not think a amount say about opportunity. With detail you execution the where a I lot. where of about of going what every just you the learned have when say respect do we this remains a really I tremendous activities, matter. There'll and to think you it, lot focus

spending innovation of certainly, long also time working with that. making this sure longer-term been sort the but the in right of term, spending the over well as build I've into team plays a right the as halo of with creative we're that well and on against to we're in also So places with money what really the putting the and a terms messaging lot and as the brand and right

Lauren Lieberman

Okay. person. look I Great. in forward to meeting

Operator

Andrea is question next JPMorgan. from Teixeira coming of The

Andrea Teixeira

to forward looking welcome, with you. I'm on to working and

guide. what you some talked you're regarding on at from you Does about cadence with a And the made and what in selective you to include So and our you quarter for some -- you of your comments anything we the consumer some mentioned the the can -- starting trend I'm about well guidance? customers curious XXXX? consumption much sell-through. for given also of as you about are in assuming as what the you that where pretty first comment takeaway trends, quarter think exiting being like But of more too. year relative retailers year, full the and U.S. lower the looking sales cadence comment the the can selective departures the that

. build how to how we you and of going year thinking think -- to the balance spring about So can the resets guidance you meet into the for it's about the

Eric Tiziani

Andrea, one. I'll take that

so was on the was our support around the takeaway progress in stabilizing XXXX demand the sell-through. versus that trend is actually as previous believe year-over-year the the holiday was saw of well. which point trend. XX% we holidays quarter, the good we've consistent about the XXXX, Olaplex It thought see First, data there. view earlier, talked just on that around brand we what historically talked XX%, about One, previous minus and the exiting on consumer QX QX the . We that of the quarter. that making a versus of been the with the consumer QX we we another we data year-over-year consistent and -- points number because with XXXX up trends success our was was expectation That

of really in And that half to That the assumption demand back with intend stabilized build from base into so become becomes trends in XXXX. the that saw XXXX. we go base trends, we sell-through XXXX we that the

And major to. then the customers that Your of factor for second to was question around the around distributor looking in us. last of the U.S. or rationalization cadence. were That's see guided was selective we've We kind distributor rationalization phasing just your a less What's this that expansion. plan not and question likely the rationalize

trend; a long guidance that's take that, say One, demand and we've returning this the this going out. stabilized And with guidance really a I'll provided the term we've year. and that to that implies for that is brand for the back the sales balance in laid happen to of objectives step net XXXX two, consistent growth. strengthening just three, the

we and given good is given. It the guide a full but fully we've that for is with guide lower believe year QX quarters, reason a build we've that other specific for than consistent

it forward our does why build it back-weighted related more product launches, to in which builds from new are XXXX. So QX

events that goes key and sales key that in our initiatives, for year in marketing even, holiday half, back higher with our deploying everything course, initiatives builds the from investments customer we're net the and see again. the you It around of

helps is you sell-through got adjust we in decline rebalancing inventory expecting there's saw guide for is a the that saying sell-through what year, in experienced of the is first the when just we what XXXX. then I'd year also we eases tougher the the just prior the prior half And And really customer similar through half, traverse growth and the quarter that last We've QX, say in our for rate first we're back quarter of as a specifically in the year. comparator. and year first comparator that particularly in

comps hold. we our build easier get as and from initiatives take the there And

Amanda Baldwin

you. have at just And tremendous day. and little bit we about together of what as a this Andrea, sense well a every getting do I working some look brand nice I amount better for you of extraordinary to meet to urgency as as give optimism forward philosophical what as approach to of think heard, can of the you've as that well I be

year, a measured this is for to approach think the right methodical all and really getting that and time. does it I take details about But taking

say the acknowledge did it's and of fully time to we're do all we quickly me take as bit that -- important I as something but initiatives little it really think possible, does to I is hit. the working beginning for for that a

Operator

Genuity. Instructions] The from coming Susan is next [Operator Anderson question Canaccord of

Susan Anderson

with ask It you front. will as you it look and sounds last increased also well. was year. think be marketing on to investing the forward working like maybe We to I I more wanted marketing in

if just you're some of maybe increase? you could the if could terms of think also, in the where we about color how magnitude sales. So about give should And at you talk

it guess, about think you and finally, can holiday. talk marketing channel. the care about then the heightened category also, as seeing I media, Then would in seemed hair in should maybe like guess, promotions continued over traditional Or marketing? was any you're marketing this store I you that It if and we the social Prestige do

you're what year. we So kind seeing start I'm of the as curious

Amanda Baldwin

Susan. to And meet Nice you, I'll start,

I making really we're getting as funnel. as funnel upper we're and year, And the sure lower with well this certainly team So mix point lining I from approach around balanced for think think is really have hitting the as the time up the half. have getting lot we're X marketing, we're that our spent think that that as view we, SKUs have first of to a a initiatives making -- we our we launches off a the ground top well new second in ammunition hero that sure as continuing really the those the both mix continue the the I of support that philosophical our category that right mentioned, right SKUs mid of that we're in get I the as balancing foremost, to that product back to be, X around

the the And we on is and what do. spent around third I've really thing of we differentiators time around product. science is the what saying that a really our around One education lot understanding are

of improvement take see So I we just maybe, there's but will we'll spending think . about question. Eric, it's the and it's lot a And year. do be been not do say? what the that, that around continuous I think money, you effort that and the literally it we So how throughout want do to

Eric Tiziani

Yes, X pieces. Susan.

You spend. magnitude also the asked about of just

put saw just support forward. the the So We amount on we . And marketing fourth mentioned to XXXX. be we the $XX million that's expect little $XX.X we range plan it million healthy that a plan earlier non-payroll-related XXXX what the and about second from to in believe quarter. we an of and part, a bit spending I in in increase just that's advertising earlier, spoke in promotionality. then to $XX million our

expect category XXXX. again of the We in in a normal level promotionality

we us, doesn't work help customer . promotional through that excess to as less expect intensity promotional a bit repeat For in XXXX. actually activity XXXX. some little in We had inventory

Susan Anderson

That's the we trends as could for in If about about guess, I I sales. curious, think how I in the the Okay. we just Should fourth was helpful. should guidance Great. on quarter? quarter, the to we similar first think just X being it add channel? very by based saw follow-up. what .

Eric Tiziani

expect trends seen perform to quarters. which we and in relative that better to few is specialty Yes. professional the direct-to-consumer we've past We consistent with the mentioned retail, that .

Operator

question coming of from today Advisory . Group. Telsey is final Dana Telsey Our

Dana Telsey

pricing forward, many assortment do enhancement Welcome see what extension? What but maybe most direction of should profile, product the the How then about becoming. -- think assortment, the similar like? and you category product you and look experience even different this the Amanda do just different your it Olaplex not the given about you at as go see or what's brands, year, --

Amanda Baldwin

my some of Thanks for the favorite topics. question. Certainly,

I possible, to look, start. So -- I'll to to with draw it's think but try every respect comparison hard

is think that that that this of love category truly I X a things creator. about brand I is the

is connection is to industry. and that the DNA every and I think also special. in kind I I very something those think our science rare think that are don't very And unique that you of something having is day. innovation see that

the in heritage community. this is third the And stylist

of have their and chair about the to really what I spent think enabling enable this do and being concept styles the they I and kind of to -- learning in that. hours able many craft

seen to builder. and So I marketer that and things, dig a a brand a something really very unique excited think it is of haven't combination I'm I rare actually truly and before, as as into

And the am point, your and to of to about create familiar time. also a That do the happens forward. think that product what really, not when continuing innovation how competition you and But been has there foreign going something you territory is with concept I lot about me. certainly think of category is a that's increasing how the do you certainly

strategy able doing that are share about we certainly as that. things to of And be we'll sort forward, going

Operator

At I'd back like this to Ms. turn the comments. floor time, to Baldwin over closing for

Amanda Baldwin

everyone, today. be you, to It's terrific joining us for here. Thank

Before tremendously They've end the a dedication is the call, Olaplex. moment take to they're moving we I to thank this like to their just entire truly welcome in business and tremendous. warm forward been

with and So again, thank forward to you, soon. speaking you everyone, we look

Operator

concludes gentlemen, This thank today's for event. participation. and your you Ladies

of time, disconnect your your lines off the webcast may this enjoy day. rest the or You and at log

Olaplex (OLPX) 29 Feb 242023 Q4 Earnings call transcript