ODDITY Secures Major $200 Million Credit Facility for Growth
ODDITY's New Financial Boost: A $200 Million Credit Facility
Recently, ODDITY Tech Ltd. (NASDAQ: ODD) proclaimed a significant milestone by entering into a new credit agreement that solidifies its financial foundation. This fresh $200 million credit facility not only replaces the earlier $100 million arrangement but also positions ODDITY for expansive growth initiatives, strategic acquisitions, and share repurchases, along with addressing various corporate necessities. This development reflects the company's commitment to its long-term vision and operational flexibility.
Strengthening Financial Resilience
At the end of December 2024, ODDITY showcased its robust financial stature with over $165 million in cash, cash equivalents, and investments. With zero amounts drawn from the new credit facility, the company demonstrates prudent financial management that sets a solid groundwork for future endeavors.
About ODDITY Tech Ltd.
ODDITY serves as a pioneer in the consumer technology landscape, focusing on reshaping the beauty and wellness sectors that have typically thrived offline. By harnessing the power of artificial intelligence, ODDITY caters to around 50 million consumers through its innovative digital platform. This platform utilizes cutting-edge data analytics to grasp consumer preferences and subsequently manifests these insights into distinct beauty and wellness products.
Brands Under ODDITY
The company's successful brand portfolio includes well-known names such as IL MAKIAGE and SpoiledChild. These brands have gained traction by engaging with their audience through personalized experiences and striking a chord with customer desires.
Expanding Innovation Through Global Operations
Headquartered in New York City, ODDITY continues to propel forward with a multi-faceted approach in research and development. Its center based in Tel Aviv, Israel, alongside a biotechnology lab located in Boston, assists in driving innovative solutions that cater to a dynamic consumer landscape.
Company Contacts for Inquiries
If you're interested in learning more about ODDITY's initiatives or require specific information, reach out to the designated contacts:
Press Inquiries
For media-related questions, please contact:
Michael Braun
Email: michaelb@oddity.com
Investor Relations
For investment-related inquiries, please reach out to:
Email: investors@oddity.com
Frequently Asked Questions
What is the purpose of the new $200 million credit facility?
The new credit facility is aimed at providing financial flexibility to support growth initiatives, acquisitions, share buybacks, and other corporate needs.
How does ODDITY's financial position look currently?
As of December 2024, ODDITY has over $165 million in cash, cash equivalents, and investments without any drawdowns from the new facility.
What companies are part of ODDITY's brand portfolio?
ODDITY owns prominent brands such as IL MAKIAGE and SpoiledChild, which focus on beauty and wellness products.
Where is ODDITY headquartered?
The company is headquartered in New York City, with additional operations based in Tel Aviv, Israel, and Boston.
How many users does ODDITY serve?
ODDITY serves approximately 50 million users globally through its advanced online platform.
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