HNST

MKT CAP:$401M

The Honest Company, Inc.

Market Cap

$401M

Consumer Cyclical·Specialty Retail·🇺🇸 United States·NASDAQ

Consumer Cyc.·Specialty Retail·🇺🇸·NASDAQ

Stock Price

$3.39+$0.78 (+29.89%)

Apr 21, 2026

Company Details

The Honest Company, Inc. manufactures and sells diapers and wipes, skin and personal care, and household and wellness products. The company also offers baby clothing and nursery bedding products. It sells its products through digital and re...

CEO

Carla Vernon

IPO Date

May 4, 2021

Website

www.honest.com

Key Metrics TTM

Revenue

$371M

-1.9% YoY

Net Income

-$16M

EPS (Diluted)

-$0.14

Free Cash Flow

$14M

Revenue / Share

$3.30

Gross Margin

33.3%

Operating Margin

-5.0%

Net Margin

-4.2%

FCF Margin

3.7%

P/S

1.1x

P/E

—

Earnings Reports

Q1 2026

May 6, 2026

PENDING

FY 2025

Feb 25, 2026

$371M-1.9%EPS -$0.14

Q4 2025

Feb 25, 2026

$88M-11.8%EPS -$0.21

Q3 2025

Nov 5, 2025

$93M-6.7%EPS $0.01

Q2 2025

Aug 6, 2025

$93M+0.4%EPS $0.03

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$69M	$21M	-$15M
Q2 22	$78M	$24M	-$11M
Q3 22	$85M	$26M	-$12M
Q4 22	$82M	$23M	-$13M
Q1 23	$83M	$20M	-$19M
Q2 23	$85M	$23M	-$13M
Q3 23	$86M	$27M	-$8M
Q4 23	$90M	$30M	$1M
Q1 24	$86M	$32M	-$1M
Q2 24	$93M	$36M	-$4M
Q3 24	$99M	$38M	$57.0K
Q4 24	$100M	$39M	-$1M
Q1 25	$97M	$38M	$3M
Q2 25	$93M	$38M	$3M
Q3 25	$93M	$34M	$313.0K
Q4 25	$88M	$14M	-$24M

Valuation

Quarter	P/S	P/E
Q1 22	1.3x	—
Q2 22	1.3x	—
Q3 22	1.3x	—
Q4 22	1.3x	—
Q1 23	1.2x	—
Q2 23	1.2x	—
Q3 23	1.2x	—
Q4 23	1.2x	—
Q1 24	1.2x	—
Q2 24	1.1x	—
Q3 24	1.1x	—
Q4 24	1.1x	—
Q1 25	1.0x	—
Q2 25	1.0x	61.9x
Q3 25	1.0x	56.7x
Q4 25	1.1x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	-$15M	-$15M
Q2 22	-$11M	-$11M
Q3 22	-$25M	-$26M
Q4 22	-$26M	-$26M
Q1 23	-$3M	-$3M
Q2 23	$7M	$6M
Q3 23	$6M	$5M
Q4 23	$10M	$10M
Q1 24	$336.0K	$260.0K
Q2 24	$3M	$3M
Q3 24	$15M	$15M
Q4 24	-$17M	-$17M
Q1 25	-$3M	-$3M
Q2 25	-$745.0K	-$826.0K
Q3 25	-$504.0K	-$624.0K
Q4 25	$19M	$18M

Capital Expenditures

Quarter	CapEx
Q1 22	$240.0K
Q2 22	$503.0K
Q3 22	$690.0K
Q4 22	$184.0K
Q1 23	$473.0K
Q2 23	$713.0K
Q3 23	$402.0K
Q4 23	$250.0K
Q1 24	$76.0K
Q2 24	$15.0K
Q3 24	$93.0K
Q4 24	$346.0K
Q1 25	$62.0K
Q2 25	$81.0K
Q3 25	$120.0K
Q4 25	$1M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-11.7%	-7.7%
Q2 22	-3.1%	+4.8%
Q3 22	+2.3%	+10.4%
Q4 22	+1.8%	+6.3%
Q1 23	+21.3%	+22.6%
Q2 23	+7.7%	+9.7%
Q3 23	+1.9%	-2.2%
Q4 23	+10.3%	-5.8%
Q1 24	+3.4%	-14.2%
Q2 24	+10.1%	-0.9%
Q3 24	+15.2%	+5.3%
Q4 24	+10.6%	+13.2%
Q1 25	+12.8%	+8.2%
Q2 25	+0.4%	-6.7%
Q3 25	-6.7%	-7.0%
Q4 25	-11.8%	+11.2%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$4M	5.2%
Q2 22	$0	0.0%
Q3 22	$4M	4.6%
Q4 22	$0	0.0%
Q1 23	$4M	4.5%
Q2 23	$0	0.0%
Q3 23	$4M	4.3%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$2M	2.1%
Q1 25	$2M	2.5%
Q2 25	$3M	2.9%
Q3 25	$2M	2.6%
Q4 25	$3M	3.4%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q1 22	$2M	$20M	$13M
Q2 22	$2M	$20M	$13M
Q3 22	$2M	$23M	$12M
Q4 22	$1M	$24M	$10M
Q1 23	$1M	$26M	$10M
Q2 23	$2M	$25M	$9M
Q3 23	$2M	$24M	$9M
Q4 23	$2M	$20M	$8M
Q1 24	$2M	$22M	$9M
Q2 24	$2M	$26M	$12M
Q3 24	$2M	$23M	$13M
Q4 24	$2M	$27M	$11M
Q1 25	$2M	$21M	$12M
Q2 25	$2M	$20M	$13M
Q3 25	$2M	$3M	$15M
Q4 25	$2M	$35M	$12M

Revenue Segments

Quarter	Diapers and Wipes	Household and Wellness	Skin and Personal Care
Q1 22	$43M	$4M	$21M
Q2 22	$52M	$3M	$23M
Q3 22	$55M	$7M	$22M
Q4 22	$50M	$9M	$23M
Q1 23	$53M	$8M	$23M
Q2 23	$55M	$7M	$23M
Q3 23	$53M	$12M	$21M
Q4 23	$57M	$12M	$21M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$45M	$33M	$78M
Q2 22	$40M	$27M	$67M
Q3 22	$24M	$17M	$41M
Q4 22	$10M	$6M	$15M
Q1 23	$9M	$3M	$12M
Q2 23	$18M	$0	$18M
Q3 23	$23M	$0	$23M
Q4 23	$33M	$0	$33M
Q1 24	$34M	$0	$34M
Q2 24	$37M	$0	$37M
Q3 24	$53M	$0	$53M
Q4 24	$75M	$0	$75M
Q1 25	$73M	$0	$73M
Q2 25	$72M	$0	$72M
Q3 25	$71M	$0	$71M
Q4 25	$90M	$0	$90M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	92M	+0.5%	+5.1%
Q2 22	92M	+0.6%	+1.7%
Q3 22	92M	+0.4%	+2.3%
Q4 22	93M	+0.3%	+1.8%
Q1 23	93M	+0.4%	+1.7%
Q2 23	94M	+1.1%	+2.2%
Q3 23	95M	+1.1%	+2.9%
Q4 23	98M	+3.4%	+6.1%
Q1 24	96M	-2.1%	+3.4%
Q2 24	99M	+2.9%	+5.3%
Q3 24	105M	+5.6%	+9.9%
Q4 24	105M	+0.3%	+6.6%
Q1 25	115M	+9.2%	+19.0%
Q2 25	114M	-0.5%	+15.1%
Q3 25	114M	-0.3%	+8.7%
Q4 25	112M	-1.1%	+7.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$367.5K	187
Q2 22	$419.7K	187
Q3 22	$452.3K	187
Q4 22	$413.4K	198
Q1 23	$421.2K	198
Q2 23	$427.0K	198
Q3 23	$435.2K	198
Q4 23	$512.9K	176
Q1 24	$489.9K	176
Q2 24	$528.7K	176
Q3 24	$563.8K	176
Q4 24	$608.8K	164
Q1 25	$593.0K	164
Q2 25	$569.9K	164
Q3 25	$564.5K	164
Q4 25	$506.0K	174

Revenue / Employee