02.27.25
In the fourth quarter of 2024, The Honest Company's revenue increased 11% to $100 million compared to $90 million, driven by strong performance across our baby apparel and wipes portfolios. Tracked channel consumption for the company grew 7%, outperforming the comparative categories which were down 2% in the same period. Consumption for the company’s products at its largest digital customer increased 35%.
For the full-year 2024, revenue of $378 million increased 10%, surpassing the company’s revenue outlook range, driven by strong performance across our wipes portfolio, baby apparel and baby personal care. Tracked channel consumption for the company grew 8%, outperforming the comparative categories which were down 1% in the same period. Consumption for the company’s products at its largest digital customer increased 32%.
“Our Q4 and full year 2024 financial results demonstrate that our strategy, which focuses on the disciplined execution of our Transformation Pillars of Brand Maximization, Margin Enhancement and Operating Discipline, is working. In 2024, we achieved record results ahead of our outlook with revenue growth of 10% and first full year positive adjusted EBITDA as a public company. We also achieved gross margin of 38%, an expansion of 900 basis points compared to last year,” says CEO Carla Vernón. “As I reflect on the past year, I know our success is due in large part to the heart and hard work of our teams, as well as our relentless focus on improving profitability and driving revenue growth. With this foundation, we remain committed to providing cleanly-formulated and sustainably-designed baby and personal care products that meet our rigorous Honest Standard.”
For the full-year 2024, revenue of $378 million increased 10%, surpassing the company’s revenue outlook range, driven by strong performance across our wipes portfolio, baby apparel and baby personal care. Tracked channel consumption for the company grew 8%, outperforming the comparative categories which were down 1% in the same period. Consumption for the company’s products at its largest digital customer increased 32%.
“Our Q4 and full year 2024 financial results demonstrate that our strategy, which focuses on the disciplined execution of our Transformation Pillars of Brand Maximization, Margin Enhancement and Operating Discipline, is working. In 2024, we achieved record results ahead of our outlook with revenue growth of 10% and first full year positive adjusted EBITDA as a public company. We also achieved gross margin of 38%, an expansion of 900 basis points compared to last year,” says CEO Carla Vernón. “As I reflect on the past year, I know our success is due in large part to the heart and hard work of our teams, as well as our relentless focus on improving profitability and driving revenue growth. With this foundation, we remain committed to providing cleanly-formulated and sustainably-designed baby and personal care products that meet our rigorous Honest Standard.”
