Honest Posts 15% Revenue Growth in Q3

In the third quarter of 2024, The Honest Company’s revenue increased 15% to $99 million compared to $86 million, driven by strong performance across its baby products and wipes portfolios. Tracked channel consumption for the company grew 9.3% outperforming the comparative categories which were down 2.4% in the same period. Consumption for the company’s products at the company’s largest digital customer increased 19%.

“Our strong third quarter results are a clear reflection of the power of the Honest brand and the strength of the Honest team that has executed our strategy and Transformation Initiative with discipline and excellence. Our ability to grow profitably is evidenced in our results -- with double digit revenue growth reaching an all-time high, significant expansion in gross margin, and positive net income for the period,” says CEO Carla Vernón. “We are confident that our long-term growth strategy will continue to allow us to scale across our categories, meeting the growing consumer demand for cleanly-formulated and sustainably-designed products across our portfolio. With our recent performance, continued positive momentum, and overall strength of the Honest brand going into the final quarter of the year, we are again raising our full year financial outlook.”