Honest Company (HNST) financial statements
Honest Company reported revenue of $371M in fiscal 2025, up 7.9% a year over 6 years.
Net income was -$16M and the operating margin -5.0%, against -13.4% in 2019.
Free cash flow was $14M.
The diluted share count rose 228% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Honest Company's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $236M | $301M | $319M | $314M | $344M | $378M | $371M |
| Cost of revenue | $160M | $193M | $209M | $221M | $244M | $234M | $248M |
| Gross profit | $76M | $108M | $109M | $92M | $101M | $145M | $124M |
| Research and development | $5M | $6M | $8M | $7M | $6M | $7M | $7M |
| Selling, general and admin | $70M | $71M | $84M | $87M | $95M | $99M | $80M |
| Operating income | -$31M | -$14M | -$37M | -$50M | -$39M | -$6M | -$18M |
| Pre-tax income | -$31M | -$14M | -$39M | -$49M | -$39M | -$6M | -$15M |
| Income tax | $55,000 | $89,000 | $77,000 | $110,000 | $75,000 | $75,000 | $204,000 |
| Net income | -$31M | -$14M | -$39M | -$49M | -$39M | -$6M | -$16M |
| EPS (diluted) | -$0.92 | -$0.43 | -$0.43 | -$0.53 | -$0.42 | -$0.06 | -$0.14 |
| Diluted shares | 34M | 34M | 71M | 92M | 95M | 100M | 111M |
| Gross margin | 32.2% | 35.9% | 34.3% | 29.4% | 29.2% | 38.2% | 33.3% |
| Operating margin | -13.4% | -4.5% | -11.6% | -15.9% | -11.3% | -1.7% | -5.0% |
| Net margin | -13.2% | -4.8% | -12.1% | -15.6% | -11.4% | -1.6% | -4.2% |
Balance sheet
Fiscal years, from Honest Company's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $14M | $64M | $93M | $10M | $33M | $75M | $90M |
| Inventory | — | $77M | $76M | $116M | $73M | $85M | $73M |
| Total current assets | — | $174M | $214M | $189M | $158M | $214M | $202M |
| Property, plant and equipment | — | $57M | $53M | $14M | $13M | $11M | $7M |
| Goodwill | — | $2M | $2M | $2M | $2M | $2M | $2M |
| Total assets | — | $241M | $273M | $241M | $202M | $247M | $225M |
| Total current liabilities | — | $54M | $48M | $64M | $57M | $60M | $51M |
| Total liabilities | — | $101M | $93M | $94M | $78M | $73M | $56M |
| Shareholders' equity | -$230M | -$237M | $179M | $146M | $123M | $174M | $170M |
| Net debt | -$14M | -$29M | -$51M | -$10M | -$33M | -$75M | -$90M |
Cash flow
Fiscal years, from Honest Company's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$20M | -$12M | -$38M | -$76M | $19M | $2M | $15M |
| Capital spending | $661,000 | $200,000 | $220,000 | $2M | $2M | $530,000 | $2M |
| Free cash flow | -$21M | -$12M | -$38M | -$78M | $18M | $1M | $14M |
| Stock-based compensation | $8M | $8M | $17M | $15M | $16M | $16M | $11M |
| Dividends paid | $0 | $0 | $35M | $0 | $0 | — | — |
| Free cash flow margin | -8.8% | -4.1% | -12.0% | -24.8% | 5.1% | 0.3% | 3.7% |
| Dividends per share | — | — | $0.49 | — | — | — | — |
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Open HNST in InvestinglyQuestions
What was Honest Company's revenue in 2025?
$371M in fiscal 2025, from its 10-K filing.
How much free cash flow does Honest Company generate?
$14M in fiscal 2025 (operating cash flow minus capital spending).
From Honest Company's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.