Altai Announces Filing of Meeting Materials for Special Meeting of Shareholders
Business Corporations Act
(Ontario) for the purposes of distributing such amount to holders of Common Shares by way of a return of capital in one or more special cash distribution(s), all as more particularly described in the Circular.
Shareholders are encouraged to read the Meeting Materials, which have been filed on SEDAR+ and can be viewed at
www.sedarplus.ca
under the Company's profile. The Meeting Materials will be mailed in due course to the Shareholders entitled to vote at the Meeting.
ABOUT THE COMPANY
Altai Resources Inc. is a Toronto, Ontario based resource company with a producing oil property in Alberta, an exploration gold property in Quebec, and a Canadian investment portfolio comprised of cash and cash equivalents. Additional information about the Company is available on SEDAR+ at
www.sedarplus.ca
and on the Company's website at
www.altairesources.com
.
For further information, please contact:
Kursat Kacira, Chairman & CEO/President
T: (647) 282-8324, E:
kursatkacira@altairesources.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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ODDITY believes Adjusted EBITDA and Adjusted EBITDA margin are useful for financial and operational decision-making and as a means to evaluate period-to-period comparisons. By excluding certain items that may not be indicative of its recurring core operating results, ODDITY believes that Adjusted EBITDA and Adjusted EBITDA margin provide meaningful supplemental information regarding its performance. In addition, Adjusted EBITDA and Adjusted EBITDA margin are widely used by investors and securities analysts to measure a company's operating performance without regard to items such as depreciation and amortization, interest expense, and interest income, which can vary substantially from company to company depending on their financing and capital structures and the method by which their assets were acquired. 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These forward-looking statements address various matters, including ODDITY's business strategy, market opportunity, ability to deliver superior products and experiences, potential long-term success and ODDITY's outlook for the third quarter 2025 and the full year ending December 31, 2025. These forward-looking statements are subject to risks, uncertainties and assumptions, some of which are beyond our control. In addition, these forward-looking statements reflect our current views with respect to future events and are not a guarantee of future performance. Actual outcomes may differ materially from the information contained in the forward-looking statements as a result of a number of factors, including, without limitation, the following: our ability to maintain the value of our brands; our ability to anticipate and respond to market trends and changes in consumer preferences; our ability to attract new customers, retain existing customers and maintain or increase sales to those customers; our ability to maintain a strong base of engaged customers and content creators; the loss of suppliers or shortages or disruptions in the supply of raw materials or finished products; our ability to accurately forecast customer demand, manage our inventory, and plan for future expenses; our future rate of growth; competition; the fluctuating cost of raw materials; the illegal distribution and sale by third parties of counterfeit versions of our products or the unauthorized diversion by third parties of our products; changes in, or disruptions to, our shipping arrangements; our ability to manage our growth effectively; a general economic downturn or sudden disruption in business conditions; our ability to successfully introduce and effectively market new brands, or develop and introduce new, innovative, and updated products; foreign currency fluctuations; product returns; our ability to execute on our business strategy; our ability to maintain a high level of customer satisfaction; our ability to comply with and adapt to changes in laws and regulatory requirements applicable to our business, including with respect to regulation of the internet and e-commerce, evolving AI-technology related laws, tax laws, the anti-corruption, trade compliance, anti-money laundering, and terror finance and economic sanctions laws and regulations, consumer protection laws, and data privacy and security laws; failure of our products to comply with quality standards and risks related to product liability claims; trade restrictions; existing and potential tariffs; any data breach or other security incident of our information technology systems, or those of our third-party service providers or cyberattacks; risks related to online transactions and payment methods; any failure to obtain, maintain, protect, defend, or enforce our intellectual property rights; conditions in Israel and the Middle East generally, including as a result of geopolitical conflict; the concentration of our voting power as a result of our dual class structure; our status as a foreign private issuer; and other risk factors set forth in the section titled 'Risk Factors' in our Annual Report on Form 20-F filed with the Securities and Exchange Commission on February 25, 2025, and other documents filed with or furnished to the SEC. These statements reflect management's current expectations regarding future events and operating performance and speak only as of the date of this press release. You should not put undue reliance on any forward-looking statements. Except as required by applicable law, we undertake no obligation to update or revise publicly any forward-looking statements. About ODDITY: ODDITY is a consumer tech company that builds and scales digital-first brands to disrupt the offline-dominated beauty and wellness industries. The company serves approximately 60 million users with its AI-driven online platform, deploying data science to identify consumer needs, and developing solutions in the form of beauty and wellness products. ODDITY owns IL MAKIAGE and SpoiledChild. The company operates with business headquarters in New York City, an R&D center in Tel Aviv, Israel, and a biotechnology lab in Boston. Contacts: Press:press@ Investor:investors@ ODDITY TECH LTD. CONSOLIDATED STATEMENTS OF INCOME U.S. dollar in thousands (except per share data) Three months ended June 30, Six months ended June 30, 2025 2024 2025 2024 (Unaudited) Net revenue $ 241,140 $ 192,774 $ 509,216 $ 404,402 Cost of revenue 66,788 53,677 134,016 109,199 Gross profit 174,352 139,097 375,200 295,203 Selling, general and administrative 117,258 86,055 275,441 203,180 Operating income 57,094 53,042 99,759 92,023 Financial income, net (2,493 ) (3,670 ) (5,140 ) (6,625 ) Income before taxes on income 59,587 56,712 104,899 98,648 Taxes on income 10,302 11,221 17,783 20,174 Net income $ 49,285 $ 45,491 $ 87,116 $ 78,474 Weighted-average number of shares - basic 56,822 57,881 56,413 57,638 Weighted-average number of shares - diluted 62,335 61,996 61,329 62,332 Basic earnings per share $ 0.87 $ 0.79 $ 1.54 $ 1.36 Diluted earnings per share $ 0.79 $ 0.73 $ 1.42 $ 1.26 ODDITY TECH LTD. CONSOLIDATED BALANCE SHEETS U.S. dollar in thousands June 30, December 31, 2025 2024 (Unaudited) (Audited) ASSETS CURRENT ASSETS: Cash and cash equivalents $ 656,822 $ 50,340 Short-term deposits 1,000 48,000 Marketable securities 20,857 1,880 Trade receivables 10,766 9,188 Inventories 94,234 99,810 Prepaid expenses and other current assets 14,644 14,151 Total current assets 798,323 223,369 LONG-TERM ASSETS: Marketable securities 136,077 68,831 Property, plant and equipment, net 10,359 9,817 Deferred tax asset, net 25,154 8,786 Intangible assets, net 36,718 36,458 Goodwill 64,904 64,904 Operating lease right-of-use assets 22,819 23,567 Other assets 3,545 3,150 Total long-term assets 299,576 215,513 Total assets $ 1,097,899 $ 438,882ODDITY TECH LTD. CONSOLIDATED BALANCE SHEETS U.S. dollar in thousands June 30, December 31, 2025 2024 (Unaudited) (Audited) LIABILITIES AND SHAREHOLDERS' EQUITY CURRENT LIABILITIES: Trade payables $ 72,969 $ 79,130 Other accounts payable and accrued expenses 46,178 38,566 Operating lease liabilities, current 7,258 7,106 Total current liabilities 126,405 124,802 LONG-TERM LIABILITIES: Operating lease liabilities, non-current 15,593 15,604 Exchangeable Note 582,626 - Other long-term liabilities 22,040 16,172 Total liabilities 746,664 156,578 SHAREHOLDERS' EQUITY: Class A Ordinary shares 15 14 Class B Ordinary shares 3 3 Additional paid-in capital 57,931 76,912 Accumulated other comprehensive income 2,901 2,106 Retained earnings 290,385 203,269 Total shareholders' equity 351,235 282,304 Total liabilities and shareholders' equity $ 1,097,899 $ 438,882ODDITY TECH LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS U.S. dollars in thousands Six months ended June 30, 2025 2024 (Unaudited) Cash flows from operating activities: Net income $ 87,116 $ 78,474 Adjustments to reconcile net income to net cash provided by operating activities: Depreciation and amortization 5,308 4,598 Share-based compensation 16,853 13,821 Deferred income taxes (1,109 ) (2,843 ) Increase in trade receivables (1,578 ) (1,721 ) (Increase) decrease in prepaid expenses and other receivables (422 ) 404 Decrease (increase) in inventories 5,576 (4,472 ) (Decrease) increase in trade payables (7,315 ) 2,288 (Decrease) increase in other accounts payable and accrued expenses and other long-term liabilities (3,191 ) 16,512 Change in operating lease right-of-use assets 3,911 2,295 Change in operating lease liability (2,872 ) (2,300 ) Other (893 ) (1,616 ) Net cash provided by operating activities 101,384 105,440 Cash flows from investing activities: Purchase of property, plant and equipment (1,951 ) (1,502 ) Capitalization of software development costs (2,861 ) (2,284 ) Maturities of (investment in) short-term deposits 47,000 (1,189 ) Investment in marketable securities, net (81,224 ) (50,024 ) Other investing activities (580 ) (519 ) Net cash used in investing activities (39,616 ) (55,518 ) Cash flows from financing activities: Proceeds from issuance of exchangeable notes, net of issuance costs 583,500 - Purchase of capped calls (50,592 ) - Proceeds from exercise of options 11,444 8,645 Purchase of Class A Ordinary shares - (10,356 ) Net cash provided by (used in) financing activities 544,352 (1,711 ) Effect of exchange rate fluctuations on cash and cash equivalents 432 8 Net increase in cash, cash equivalents and restricted cash 606,552 48,219 Cash, cash equivalents and restricted cash at the beginning of the period 50,347 38,766 Cash, cash equivalents and restricted cash at the end of the period $ 656,899 $ 86,985 ODDITY TECH LTD. CONSOLIDATED STATEMENTS OF CASH FLOWS U.S. dollars in thousands Six months ended June 30, 2025 2024 (Unaudited) Supplemental disclosures of non-cash investing and financing activities: Issuance costs of exchangeable note and purchase of capped call accrued but not yet paid $ 13,802 $ -ODDITY TECH LTD. Reconciliation of GAAP to Non-GAAP Measures U.S. dollars in thousands Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) Reconciliation of Net Income and Adjusted EBITDA Net Income $ 49,285 $ 45,491 $ 87,116 $ 78,474 Financial income, net (2,493 ) (3,670 ) (5,140 ) (6,625 ) Taxes on Income 10,302 11,221 17,783 20,174 Depreciation and amortization 2,653 2,297 5,308 4,598 Share-based compensation 9,769 6,959 16,853 13,821 Adjusted EBITDA $ 69,516 $ 62,298 $ 121,920 $ 110,442 Reconciliation of Net Income and Adjusted Net Income Net Income $ 49,285 $ 45,491 $ 87,116 $ 78,474 Share-based compensation 9,769 6,959 16,853 13,821 Tax adjustments1 (1,974 ) (1,361 ) (5,080 ) (2,826 ) Adjusted Net Income $ 57,080 $ 51,089 $ 98,889 $ 89,469 Diluted earnings per share $ 0.79 $ 0.73 $ 1.42 $ 1.26 Adjusted diluted earnings per share $ 0.92 $ 0.82 $ 1.61 $ 1.44 (1) Represents the tax impact of (a) the reconciling items above and (b) other discrete tax items. Reconciliation of net cash provided by operating activities to free cash flow Six Months Ended June 30, 2025 2024 (Unaudited) Net operating cash flow $ 101,384 $ 105,440 Purchase of property and equipment (1,951 ) (1,502 ) Free cash flow $ 99,433 $ 103,938 ODDITY TECH LTD. Supplemental Financial Information U.S. dollars in thousands Cash, cash equivalents, and investments June 30, December 31, 2025 2024 (Unaudited) (Audited) Cash and cash equivalents $ 656,822 $ 50,340 Short-term deposits and restricted cash 1,077 48,007 Marketable securities 156,934 70,711 Total cash and investments $ 814,833 $ 169,058 Net revenue by sales channel Three Months Ended June 30, Six Months Ended June 30, 2025 2024 2025 2024 (Unaudited) (Unaudited) Online direct-to-consumer $ 235,161 $ 181,476 $ 496,214 $ 385,050 Percent of net revenue 98% 94% 97% 95% Other (Israel retail, marketing affiliates) $ 5,979 $ 11,298 $ 13,002 $ 19,352 Percent of net revenue 2% 6% 3% 5% Net Revenue $ 241,140 $ 192,774 $ 509,216 $ 404,402 Note: ODDITY does not sell to resellers or distributors. Online direct-to-consumer revenues are generated directly by ODDITY through its online platform only (i.e. and All revenue in Israel, including revenue generated in stores, online, and from beauty academies, is included in in to access your portfolio
