Oddity Tech Surges Up to 27% After Q2 Beat and Full-Year EBITDA Guidance Nearly Triples Street Estimate

Oddity Tech shares surged as much as 27% in pre-market trading on September 9, 2026, before settling near a 14% gain, after the company reported second-quarter results that cleared Wall Street forecasts on every key metric and issued full-year profit guidance that dwarfed analyst expectations.

For the quarter ended June 2026, Oddity posted revenue of $181 million against a consensus estimate of $178 million, though the figure represented a 25% decline from a year earlier. Adjusted EPS came in at $0.20, beating the $0.16 estimate by $0.08 and surpassing the earnings consensus by roughly 67%. Adjusted EBITDA reached $13 million, well above the $8.8 million estimate, though both earnings and EBITDA were sharply lower on a year-over-year basis, down 78% and 81% respectively. Gross margin was 68.7%, a compression of 360 basis points from a year prior. Net income for the quarter was $13 million, and the company held $561 million in cash, equivalents, and investments.

The headline driver of investor enthusiasm was the full-year 2026 guidance. Oddity set its FY26 adjusted EBITDA outlook at $30 million to $32 million, nearly three times the Street's prior estimate of $10.7 million. The company guided full-year revenue to decline approximately 19% year over year. For the third quarter alone, it guided adjusted EBITDA of $18 million to $20 million against an estimate of just $6.3 million, with revenue expected to fall about 5% year over year, a sequential improvement from the steeper declines of the first half.

The year-over-year revenue and profit declines stem from elevated customer-acquisition costs at Oddity's IL MAKIAGE brand, which has been dealing with a technical dislocation in its advertising account with its largest ad partner. Management said it "remains hopeful that IL MAKIAGE is on track to achieve normalization" and that it continues to work closely with the partner to resolve the issue. The company also repurchased $80 million in shares and retired $35 million of exchangeable notes during the period. Jefferies raised its price target on ODD following the results, and analysts at Benzinga noted a short-squeeze dynamic amplified the stock's move.