ODDITY Q2 2026: A Revenue Reset, Lower Profit, and the New Outlook

Oddity Tech Ltd. (NASDAQ: ODD) reported second-quarter 2026 net revenue of $180.5 million, down 25% from $241.1 million a year earlier. Net income fell to $12.9 million from $49.3 million, and diluted EPS declined to $0.24 from $0.79. The quarter landed at the high end of the company's revenue guidance, but that does not change the scale of the year-over-year contraction.

What changed in the quarter

Metric	Q2 2025	Q2 2026
Net revenue	$241.1 million	$180.5 million
Gross margin	72.3%	68.7%
Net income	$49.3 million	$12.9 million
Diluted EPS	$0.79	$0.24

Adjusted EBITDA was $13 million, above the prior $8 million–$10 million guidance range, but below $70 million in the prior-year quarter. Because adjusted EBITDA excludes several costs, the GAAP revenue, margin, and net-income declines remain essential context.

The new outlook

Management guided for third-quarter revenue to decline approximately 5% year over year, with adjusted EBITDA of $18 million–$20 million. For full-year 2026, it expects revenue to decline approximately 19% and adjusted EBITDA of $30 million–$32 million. Cash, cash equivalents, and investments totaled $561 million at June 30, giving the company resources to manage the reset but not eliminating execution risk.

Opposing scenario and next check

The constructive case is that the second quarter marks the steepest part of the reset and that the projected moderation in third-quarter decline materializes. The opposing case is continued revenue weakness, further gross-margin pressure, or reliance on adjusted measures while GAAP profit remains depressed. The next filing should be checked against the 5% revenue-decline guide, gross margin, GAAP net income, and cash use.

Review sources

• ODDITY Form 6-K — accession 0001104659-26-106126
• Q2 2026 shareholder letter filed as Exhibit 99.1

Dollar figures are rounded from the filed statements. This is a filing review, not investment advice.