$HNST
Honest Company, Inc.

2024 Q3 Form 10-Q Financial Statement

#000153097924000078 Filed on August 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $99.24M $93.05M
YoY Change 15.17% 10.06%
Cost Of Revenue $60.84M $57.44M
YoY Change 3.18% -6.83%
Gross Profit $38.40M $35.61M
YoY Change 41.14% 55.52%
Gross Profit Margin 38.69% 38.27%
Selling, General & Admin $23.43M $26.43M
YoY Change -2.98% 5.59%
% of Gross Profit 61.01% 74.22%
Research & Development $1.742M $1.714M
YoY Change 9.97% 7.46%
% of Gross Profit 4.54% 4.81%
Depreciation & Amortization $706.0K $709.0K
YoY Change 3.82% 5.51%
% of Gross Profit 1.84% 1.99%
Operating Expenses $38.34M $39.66M
YoY Change 8.93% 9.29%
Operating Profit $57.00K -$4.045M
YoY Change -100.71% -69.78%
Interest Expense $127.0K -$19.00K
YoY Change -281.43% 111.11%
% of Operating Profit 222.81%
Other Income/Expense, Net $127.0K -$19.00K
YoY Change -278.87% 111.11%
Pretax Income $184.0K -$4.064M
YoY Change -102.28% -69.66%
Income Tax $19.00K $13.00K
% Of Pretax Income 10.33%
Net Earnings $165.0K -$4.077M
YoY Change -102.04% -69.61%
Net Earnings / Revenue 0.17% -4.38%
Basic Earnings Per Share $0.00 -$0.04
Diluted Earnings Per Share $0.00 -$0.04
COMMON SHARES
Basic Shares Outstanding 100.1M shares 98.64M shares
Diluted Shares Outstanding 104.6M shares 99.08M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $53.44M $36.59M
YoY Change 131.35% 105.06%
Cash & Equivalents $53.44M $36.59M
Short-Term Investments
Other Short-Term Assets $8.965M $8.611M
YoY Change 1.88% -0.91%
Inventory $74.72M $73.67M
Prepaid Expenses
Receivables $36.18M $43.34M
Other Receivables $0.00 $0.00
Total Short-Term Assets $173.3M $162.2M
YoY Change 15.86% 12.25%
LONG-TERM ASSETS
Property, Plant & Equipment $30.65M $32.83M
YoY Change -21.61% -19.91%
Goodwill $2.230M $2.230M
YoY Change 0.0% 0.0%
Intangibles $253.0K $272.0K
YoY Change -22.63% -18.81%
Long-Term Investments
YoY Change
Other Assets $2.769M $2.602M
YoY Change -34.83% -41.37%
Total Long-Term Assets $35.90M $37.94M
YoY Change -21.88% -20.96%
TOTAL ASSETS
Total Short-Term Assets $173.3M $162.2M
Total Long-Term Assets $35.90M $37.94M
Total Assets $209.2M $200.2M
YoY Change 6.99% 3.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $24.35M $19.92M
YoY Change 31.7% 35.43%
Accrued Expenses $33.97M $31.33M
YoY Change 9.01% 23.29%
Deferred Revenue $1.650M $1.682M
YoY Change -11.34% -2.38%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00
YoY Change -100.0%
Total Short-Term Liabilities $59.98M $52.94M
YoY Change 16.42% 26.5%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
Total Long-Term Liabilities $0.00 $0.00
YoY Change -100.0% -100.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $59.98M $52.94M
Total Long-Term Liabilities $0.00 $0.00
Total Liabilities $75.34M $70.47M
YoY Change -0.26% 3.47%
SHAREHOLDERS EQUITY
Retained Earnings -$484.4M -$484.5M
YoY Change 0.87% 2.63%
Common Stock $10.00K $9.000K
YoY Change 11.11% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $133.9M $129.7M
YoY Change
Total Liabilities & Shareholders Equity $209.2M $200.2M
YoY Change 6.99% 3.97%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income $165.0K -$4.077M
YoY Change -102.04% -69.61%
Depreciation, Depletion And Amortization $706.0K $709.0K
YoY Change 3.82% 5.51%
Cash From Operating Activities $15.09M $2.945M
YoY Change 166.05% -54.82%
INVESTING ACTIVITIES
Capital Expenditures $93.00K $15.00K
YoY Change -76.75% -97.9%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change -100.0%
Cash From Investing Activities -$93.00K -$15.00K
YoY Change -76.75% -100.74%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 1.856M 78.00K
YoY Change -18660.0% -11.36%
NET CHANGE
Cash From Operating Activities 15.09M 2.945M
Cash From Investing Activities -93.00K -15.00K
Cash From Financing Activities 1.856M 78.00K
Net Change In Cash 16.85M 3.008M
YoY Change 220.3% -65.12%
FREE CASH FLOW
Cash From Operating Activities $15.09M $2.945M
Capital Expenditures $93.00K $15.00K
Free Cash Flow $14.99M $2.930M
YoY Change 184.48% -49.53%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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Nature of BusinessThe Honest Company, Inc. (the “Company”) was incorporated in the State of California on July 19, 2011 and on May 23, 2012 was re-incorporated in the State of Delaware under the same name. The Company is a personal care company dedicated to creating clean- and sustainably-designed products.
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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">Use of Estimates</span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:112%">    </span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The preparation of the condensed consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and contingent liabilities at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. The Company’s estimates, which are subject to varying degrees of judgment, include the valuation of inventories, sales returns and allowances, allowances for credit losses, valuation of short-term investments, capitalized software, useful lives associated with long-lived assets, incremental borrowing rates associated with leases, valuation allowances with respect to deferred tax assets, accruals and contingencies, recoverability of non-cash marketing credits, recoverability of goodwill and long-lived assets, and the valuation and assumptions underlying stock-based compensation. On an ongoing basis, the Company evaluates its estimates compared to historical experience and trends, which form the basis for making judgments about the carrying value of assets and liabilities.</span></div><div><span><br/></span></div><div style="text-indent:36pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:112%">The Company assessed certain accounting matters and estimates that generally require consideration of forecasted information in context with the information reasonably available to the Company as of June 30, 2024 and through the date these condensed consolidated financial statements were issued. Management is not aware of any specific event or circumstance that would require an update to estimates or judgments or a revision to the carrying value of assets or liabilities. However, these estimates and judgments may change as new events occur and additional information is obtained, which may result in changes being recognized in the Company’s consolidated financial statements in future periods.</span></div>
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3584000 usd
us-gaap Operating Lease Cost
OperatingLeaseCost
3584000 usd
CY2024Q2 us-gaap Sublease Income
SubleaseIncome
501000 usd
CY2023Q2 us-gaap Sublease Income
SubleaseIncome
501000 usd
us-gaap Sublease Income
SubleaseIncome
1003000 usd
us-gaap Sublease Income
SubleaseIncome
1003000 usd
CY2024Q2 us-gaap Lease Cost
LeaseCost
1292000 usd
CY2023Q2 us-gaap Lease Cost
LeaseCost
1305000 usd
us-gaap Lease Cost
LeaseCost
2589000 usd
us-gaap Lease Cost
LeaseCost
2611000 usd
CY2024Q2 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
0 usd
CY2024Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
20528000 usd
CY2024Q2 hnst Lease Right Of Use Asset
LeaseRightOfUseAsset
20528000 usd
CY2024Q2 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
0 usd
CY2024Q2 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
8335000 usd
CY2024Q2 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
17537000 usd
CY2024Q2 hnst Lease Liability
LeaseLiability
25872000 usd
CY2024Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y
CY2024Q2 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.0300
CY2024Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0230
us-gaap Operating Lease Payments
OperatingLeasePayments
3970000 usd
us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
18000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
0 usd

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0001530979-24-000078.txt Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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