The Honest Company (NASDAQ: HNST) has announced the retirement of its Chief Financial Officer (CFO), Dave Loretta, who will remain in place through the transition of his replacement. Loretta joined the company in 2023 and has been credited with contributing to increased revenue, significant expansion in gross margin, and positive operating profitability in Q4 2023, which continued quarterly through the most recently reported Q3 2024 results versus the comparable periods in the prior year.
In conjunction with this announcement, the company has reaffirmed its full year 2024 outlook, previously provided on November 12, 2024, which includes revenue growth of a high single-digit percentage year-over-year and adjusted EBITDA in the range of $20 million to $22 million.
The company's consolidated financial statements for the year ended December 31, 2024, are not yet available, and the financial closing procedures are still ongoing. Therefore, final results may vary from the outlook provided.
As the company begins the search for a new CFO, it aims to continue its strong financial performance and build on the foundation laid during Loretta's tenure. As a result of these announcements, the company's shares have moved -2.8% on the market, and are now trading at a price of $6.33. Check out the company's full 8-K submission here.
