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please review detailed answer the following questions below in regards to the honest company
1- provide a DEATAILED AND INFORMATIVE report of the Fiscal Year Ending in 2022
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March 16, 2023 Delivers Fourth Quarter Revenue to Achieve Full Year 2022 Revenue Outlook LOS ANGELES, March 16, 2023 (GLOBE NEWSWIRE) -- The Honest Company (NASDAQ: HNST), a digitally-native consumer products company born in the Gen Z era to make purpose-driven consumer products designed for all people, today reported fourth quarter and full year 2022 financial results for the year ended December 31, 2022. "Honest's mission to provide purpose-driven and purpose-designed products that reflect an ever-diversifying set of consumers is as meaningful today as when it was launched 11 years ago. Since joining Honest, just over two months ago, I've been impressed with the quality of the products, the strength of the brand, and the commitment of our teams and partners," said Chief Executive Officer, Carla Vernn. "Honest is a brand with a demonstrated ability to deliver mission-driven innovation and lead growth with the high-quality products our consumers love and value. That legacy will remain our North Star as we build a glide path to a stronger and more profitable Honest in 2024." Fourth Quarter 2022 Highlights: Revenue growth was 2% in the quarter, driven by strong retail consumption, distribution gains, and price increases, partially offset by a decline in Digital revenue Consumption of Honest diapers, wipes, skin, and personal care increased by 15% versus prior year() Gross margin of 27.5% reflected a 250 basis point decline versus the fourth quarter of 2021, reflecting significantly higher product and fulfillment costs (1) According to independent third-party data. Reflects consumption for diapers, wipes, baby personal care, skin care and cosmetics items. All consumption in this release reflects retail tracked channels as well as online sales excluding DTC sales (via honest.com) for 13 weeks ending January 1, 2023. Fourth Quarter Results (All comparisons are versus the fourth quarter of 2021) This press release includes non-GAAP financial measures. See "Use of Non-GAAP Financial Measures" at the end of this press release for more information. Revenue increased 2% to $81.9 million, driven by strong retail consumption, distribution gains, and price increases, partially offset by a decline in the Digital business. Revenue by Product Category (In thousands, except percentages) Diapers and Wipes Skin and Personal Care Household and Wellness Total Revenue $ 2022 For the three months ended December 31, 50,017 $ 22,783 9,059 81,859 $ 2021 49,672 26,211 4,498 80,381 % change 1 % (13) 101 2% Diapers and Wipes: Revenue from Diapers and Wipes (61% of total fourth quarter 2022 revenue) increased 1% as the benefit of price increases and strong retail performance was mostly offset by a decline in the Digital channel. Skin and Personal Care: Revenue from Skin and Personal Care (28% of total fourth quarter 2022 revenue) decreased 13% due to a key digital partner reducing orders. This decline was partially offset by strong retail performance. Household and Wellness: Revenue from Household and Wellness (11% of total fourth quarter 2022 revenue) increased 101% driven by the integration of Honest Baby Clothing in the third quarter of 2022. March 16, 2023 Delivers Fourth Quarter Revenue to Achieve Full Year 2022 Revenue Outlook LOS ANGELES, March 16, 2023 (GLOBE NEWSWIRE) -- The Honest Company (NASDAQ: HNST), a digitally-native consumer products company born in the Gen Z era to make purpose-driven consumer products designed for all people, today reported fourth quarter and full year 2022 financial results for the year ended December 31, 2022. "Honest's mission to provide purpose-driven and purpose-designed products that reflect an ever-diversifying set of consumers is as meaningful today as when it was launched 11 years ago. Since joining Honest, just over two months ago, I've been impressed with the quality of the products, the strength of the brand, and the commitment of our teams and partners," said Chief Executive Officer, Carla Vernn. "Honest is a brand with a demonstrated ability to deliver mission-driven innovation and lead growth with the high-quality products our consumers love and value. That legacy will remain our North Star as we build a glide path to a stronger and more profitable Honest in 2024." Fourth Quarter 2022 Highlights: Revenue growth was 2% in the quarter, driven by strong retail consumption, distribution gains, and price increases, partially offset by a decline in Digital revenue Consumption of Honest diapers, wipes, skin, and personal care increased by 15% versus prior year() Gross margin of 27.5% reflected a 250 basis point decline versus the fourth quarter of 2021, reflecting significantly higher product and fulfillment costs (1) According to independent third-party data. Reflects consumption for diapers, wipes, baby personal care, skin care and cosmetics items. All consumption in this release reflects retail tracked channels as well as online sales excluding DTC sales (via honest.com) for 13 weeks ending January 1, 2023. Fourth Quarter Results (All comparisons are versus the fourth quarter of 2021) This press release includes non-GAAP financial measures. See "Use of Non-GAAP Financial Measures" at the end of this press release for more information. Revenue increased 2% to $81.9 million, driven by strong retail consumption, distribution gains, and price increases, partially offset by a decline in the Digital business. Revenue by Product Category (In thousands, except percentages) Diapers and Wipes Skin and Personal Care Household and Wellness Total Revenue $ 2022 For the three months ended December 31, 50,017 $ 22,783 9,059 81,859 $ 2021 49,672 26,211 4,498 80,381 % change 1 % (13) 101 2% Diapers and Wipes: Revenue from Diapers and Wipes (61% of total fourth quarter 2022 revenue) increased 1% as the benefit of price increases and strong retail performance was mostly offset by a decline in the Digital channel. Skin and Personal Care: Revenue from Skin and Personal Care (28% of total fourth quarter 2022 revenue) decreased 13% due to a key digital partner reducing orders. This decline was partially offset by strong retail performance. Household and Wellness: Revenue from Household and Wellness (11% of total fourth quarter 2022 revenue) increased 101% driven by the integration of Honest Baby Clothing in the third quarter of 2022.
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Related Book For
Income Tax Fundamentals 2013
ISBN: 9781285586618
31st Edition
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
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