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Tuesday, May 24, 2022

The Honest Company, Inc. (HNST) stock declined in the After-Hours; here is why?

The Honest Company, Inc. (HNST) stock declined in the after-hours market after announcing its fourth quarter and fiscal 2021 results. HNST stock price is $4.81, losing more than 20% compared to yesterday’s closing price. HNST stock closed at $6.04 at the end of the last trading session. HNST stock volume traded in the previous trading session was around 1.2 million shares. The current market cap of the company is about $549.81 million.


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HNST: Q4 and Fiscal 2021 Key Financials

  • The Honest Company, Inc.’s revenue in Q4 2021 was $80 million. It is more than 3% compared to the revenue of $77.8 million in Q4 2020.
  • Fiscal 2021 revenue was $318.6 million, 6% more than the revenue of $300 million in fiscal 2020.
  • The company’s net loss in Q4 2021 was around $9.02 million, less than the net loss of $12.6 million in Q4 2020.
  • HNST net loss in fiscal 2021 was around $38.6million. Net loss increased massively compared to the net loss of $14.4 million in fiscal 2020.
  • The Q4 2021 basic and diluted loss per share was $0.10, compared to a net loss of $0.37 in Q4 2020.
  • For fiscal 2021, basic and diluted loss per share was $0.43, compared to $0.43 in fiscal 2020.
  • As of December 2021, the company had cash and cash equivalents of $50.7 million.

HNST CEO’s Remarks

CEO Nick Vlahos said he was happy with the company’s ninth straight quarter of revenue increase. Our impressive year-over-year sales growth of 19% for our key product categories in the fourth quarter and 13% for the full year 2021 reflects the Honest brand’s enduring power in a dynamic market. Our market share and home penetration grew within the same period.

HNST 2022 Outlook

As of the first quarter of 2022, The Honest Company, Inc. (HNST) revenue will be down 15% from the same period in 2021. Compared to 2021, the next three quarters are likely to grow in the mid-single digits.

Conclusion

Despite the massive loss in fiscal 2021, the company is optimistic about improving the growth rate in the mid of 2022. The company forecast seems a bit too optimistic at the moment, but it is not hard to achieve with the right strategy.

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