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Revenue Up at Honest

Reaches $86 million in Q1

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By: Tara Olivo

Associate Editor at Nonwovens Industry, Rodman Media

In the first quarter of 2024, The Honest Company’s revenue increased 3% to $86 million compared to the first quarter of 2023 driven by an increase in revenue from baby appar-el, wipes and baby personal care. Its growth was supported by its Transformation Pillar of Brand Maximization that drove distribution gains and strong velocities. Total tracked channel consumption for the company grew 7% compared to the categories down 1%.

“Our first quarter results demonstrate our strong start to 2024. Our clear focus on profit-ability, delivering sales growth and achieving record gross margin of 37% as a public com-pany is attributable to continued execution of our Transformation Pillars of Brand Maximi-zation, Margin Enhancement and Operating Discipline,” says CEO Carla Vernón. “These Pil-lars are deeply rooted in our operating practices and remain an enduring strategic ele-ment supporting our revenue growth and ongoing cost structure improvements in the first quarter. With our robust financial results to start the year and growth in consumer demand for Honest products, we are reaffirming our full year 2024 financial outlook.”

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