The following is a summary of the Olaplex Holdings, Inc. (OLPX) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Olaplex reported Q1 net sales of $98.9 million, showing a year-over-year decrease of 13.1%.

• There was a significant gross margin expansion of 170 basis points to 74.3%, aided by reduced warehouse and distribution costs and lower inventory obsolescence reserves.

• The adjusted EBITDA declined by 29.1% to $35.5 million, and adjusted net income dropped to $20.6 million from the previous year's Q1 result of $31.4 million.

Business Progress:

• As part of stabilization strategies, Olaplex is focusing predominantly on existing customers and current channels, limiting new distribution.

• Investments in sales, marketing, and education are expected to generate demand, particularly through stronger relationships with stylists and direct salon engagement.

• The company is harnessing earned media impressions through marketing campaigns, such as the one for Olaplex No.7 Bonding Oil.

• Future plans involve new marketing initiatives, diversifying marketing investments, and launching a comprehensive product pipeline for 2025 and beyond.

• Olaplex is strengthening its international presence in the prestige hair care category, tackling product diversion with track and trace technology, and readying new product releases.

More details: Olaplex IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.