Waldencast plc revenue by segment MLKWF

Annual Quarterly

Waldencast plc splits its revenue 2 ways in its filings. By operating segments, the largest line in fiscal 2025, which ended Dec 31, 2025 was Obagi Skincare at $161.6 million, 59% of the total. By sales mix, the largest line in fiscal 2025, which ended Dec 31, 2025 was Product at $157.7 million, 58% of the total.

USD in millions. The percent under a figure is the change from the year before.

Line	FY 2025 Dec 31, 2025	FY 2024 Dec 31, 2024	FY 2023 Dec 31, 2023	FY 2022 Dec 31, 2021
Revenue	272	274	218	142
Operating segments
Obagi Skincare	162 +8.3% share 59.4%	149 +26.9% share 54.5%	118 share 53.9%	—
Milk Makeup	110 -11.4% share 40.6%	125 +24.0% share 45.5%	100 share 46.1%	—
Sales mix
Product	158 +8.9% share 58.0%	145 +28.5% share 52.9%	113 -17.6% share 51.6%	137 share 96.0%
Milk Makeup	110 -11.4% share 40.6%	125 +24.0% share 45.5%	100 share 46.1%	—
Royalty	4 -13.0% share 1.4%	4 -10.7% share 1.6%	5 -12.4% share 2.3%	6 share 4.0%

How these figures are calculated

Annual columns are full-year amounts from the annual report (Form 10-K, 20-F, or 40-F). If a company restates a year, the latest filed number is shown. USD in millions. Each group is a separate split of total revenue, so the groups are not added together. Share of revenue is that line divided by total revenue. More on our methodology.

Company profile

Industry: Perfumes, Cosmetics & Other Toilet Preparations (SIC 2844)
Listed as: MLKMF (OTC), MLKWF (OTC)
Headquarters: London, United Kingdom
SEC filer status: Non-accelerated filer, Emerging growth company
SEC CIK: 1840199
Former names: Waldencast Acquisition Corp. (until Jul 27, 2022)

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Source: SEC EDGAR filings. This is company-reported data, not investment advice.