2 months ago
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NEW YORK, Jan. 31, 2025 (GLOBE NEWSWIRE) -- On January 31, 2025, ODDITY Tech Ltd. (NASDAQ: ODD, the "Company”) entered into agreements with a syndicate of banks to secure credit facilities for a total of $200 million (collectively the "Facility”). The Facility replaces the Company's previous $100 million credit facility and increases financial flexibility to fund growth initiatives, acquisitions, share buybacks, and other general corporate needs.
ODDITY remains in a strong financial position, with over $165 million of cash, cash equivalents, and investments on its balance sheet as of December 31, 2024,1 and zero funds drawn on the new $200 million Facility.
About ODDITY:
ODDITY is a consumer tech company that builds and scales digital-first brands to disrupt the offline-dominated beauty and wellness industries. The company serves approximately 50 million users with its AI-driven online platform, deploying data science to identify consumer needs, and developing solutions in the form of beauty and wellness products. ODDITY owns IL MAKIAGE and SpoiledChild. The company operates with business headquarters in New York City, an R&D center in Tel Aviv, Israel, and a biotechnology lab in Boston.
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Michael Braun
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1 Figure includes cash and cash equivalents, restricted cash, short-term deposits, and marketable securities; it is based on unaudited management accounts.
