Honest Company, Inc. HNST
Founded in 2012, The Honest Company (the "Company," or "Honest," or which may also be referred to as "we," "us" or "our") is a personal care company dedicated to creating cleanly-formulated and sustainably-designed products for everyone from babies to adults. By combining thoughtful design with science-based innovation, we deliver personal care products for everyone from babies to adults, spanning categories across wipes, personal care, diapers, and beauty. Our commitment to our core values, continual innovation and engaging our community has differentiated and elevated our brand and our products. Since our launch, we have cultivated deep trust around what matters most to our consumers: their health, their families and their homes. We seek to meet consumers wherever they want to shop, balancing deep consumer connection with broad convenience and availability. We believe our distribution strategy positions us for continued growth through our trusted brand and award-winning multi-category product offering.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $371.3M | $378.3M | $344.4M | $313.7M | $318.6M | $300.5M | $235.6M | — |
| Cost of revenue | $247.6M | $233.7M | $243.8M | $221.3M | $209.5M | $192.6M | $159.7M | — |
| Gross profit | $123.8M | $144.7M | $100.5M | $92.3M | $109.2M | $107.9M | $75.9M | — |
| R&D | $7.3M | $6.9M | $6.2M | $7.0M | $7.7M | $5.7M | $5.1M | — |
| SG&A | $79.5M | $99.0M | $94.6M | $87.3M | $84.1M | $71.3M | $70.3M | — |
| Total operating expenses | $142.2M | $151.0M | $139.4M | $142.1M | $146.0M | $121.4M | $107.3M | — |
| Operating income | -$18.5M | -$6.3M | -$38.9M | -$49.8M | -$36.8M | -$13.5M | -$31.5M | — |
| Pre-tax income | -$15.5M | -$6.0M | -$39.2M | -$48.9M | -$38.6M | -$14.4M | -$31.0M | — |
| Income tax | $204.0K | $75.0K | $75.0K | $110.0K | $77.0K | $89.0K | $55.0K | — |
| Net income | -$15.7M | -$6.1M | -$39.2M | -$49.0M | -$38.7M | -$14.5M | -$31.1M | — |
| EPS, basic | -0.14 | -0.06 | -0.42 | -0.53 | -0.43 | -0.43 | -0.92 | — |
| EPS, diluted | -0.14 | -0.06 | -0.42 | -0.53 | -0.43 | -0.43 | -0.92 | — |
| Shares, diluted (wtd. avg.) | $111.2M | $100.2M | $94.5M | $92.2M | $71.1M | $34.1M | $33.9M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $89.6M | $75.4M | $32.8M | $9.5M | $50.8M | $37.2M | $13.5M | $22.8M |
| Short-term investments | — | — | — | — | $42.4M | $34.4M | — | — |
| Inventory | $72.5M | $85.3M | $73.5M | $115.7M | $75.7M | $76.7M | — | — |
| Total current assets | $202.4M | $213.9M | $157.8M | $189.1M | $213.8M | $173.6M | — | — |
| Property, plant and equipment | — | — | — | — | $53.0M | $56.7M | — | — |
| Goodwill | $2.3M | $2.2M | $2.2M | $2.2M | $2.2M | $2.2M | — | — |
| Other intangibles | $162.0K | $235.0K | $309.0K | $370.0K | $440.0K | $511.0K | — | — |
| Total assets | $225.4M | $247.4M | $201.6M | $240.6M | $272.6M | $240.7M | — | — |
| Accounts payable | $15.1M | $22.8M | $22.3M | $24.8M | $28.7M | $31.1M | — | — |
| Total current liabilities | $50.8M | $59.9M | $56.7M | $63.6M | $48.5M | $54.1M | — | — |
| Total liabilities | $55.7M | $73.1M | $78.5M | $94.2M | $93.5M | $101.2M | — | — |
| Retained earnings | -$500.9M | -$485.2M | -$479.1M | -$439.8M | -$391.7M | -$353.0M | — | — |
| Total equity | $169.7M | $174.3M | $123.1M | $146.4M | $179.1M | -$236.8M | -$230.3M | -$208.4M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $15.1M | $1.5M | $19.4M | -$76.3M | -$38.2M | -$12.1M | -$20.0M | — |
| Depreciation and amortisation | $2.9M | $2.8M | $2.7M | $2.8M | $4.1M | $4.9M | $7.7M | — |
| Stock-based compensation | $10.5M | $15.7M | $15.8M | $15.1M | $16.8M | $7.9M | $8.4M | — |
| Capital expenditure | $1.5M | $530.0K | $1.8M | $1.6M | $220.0K | $200.0K | $661.0K | — |
| Investing cash flow | -$1.5M | -$530.0K | $3.8M | $35.0M | -$8.6M | $36.7M | $11.0M | — |
| Financing cash flow | $535.0K | $41.6M | $122.0K | $38.0K | $60.4M | -$973.0K | -$305.0K | — |
| Dividends paid | — | — | $0 | $0 | $35.0M | $0 | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001628280-26-011634.
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