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EX-99.1

2 honestcoq1-26exhibit991.htm

EX-99.1

Document

Exhibit 99.1

The Honest Company Reports First Quarter 2026 Results

Delivers Accelerated Revenue Growth, Led by Wipes & Personal Care

Achieves Record Gross Margins, Fueled by Powering Honest Growth

Reaffirms Full Year 2026 Financial Outlook

LOS ANGELES, Calif. – May 6, 2026 – The Honest Company (NASDAQ: HNST), a personal care company dedicated to creating cleanly-formulated and sustainably-designed products for everyone from babies to adults, today reported financial results for the three months ended March 31, 2026.

First Quarter 2026 Financial Highlights Compared to Prior Year Period:

•Revenue of $78.1 million decreased 19.7%; Organic Revenue (excluding Powering Honest Growth exits)(1) increased 3.9%

•Gross margin of 42.6% increased 390 basis points; Adjusted Gross Margin(1) of 43.5% increased 480 basis points

•Net loss of less than $0.1 million; Adjusted Net Income(1) was $1.3 million

•Adjusted EBITDA(1) of $4.0 million decreased $3.0 million

•Cash and cash equivalents of $90.4 million increased $17.5 million

“We are pleased with our first quarter results, demonstrating that Powering Honest Growth is successfully transforming Honest into an enterprise that is more strategically focused, growth-driven, and structurally profitable," said Chief Executive Officer, Carla Vernón. "By sharpening our focus on the areas where we believe we have the greatest right to win, particularly with our wipes and personal care platforms, we delivered accelerated organic revenue momentum and achieved record gross margins. This expanding profitability creates a virtuous cycle, enabling us to strategically reinvest in our brand and expand Honest across households with babies, big kids, and even no kids at all. Thanks to the incredible discipline of our Honest Butterflies, we are reaffirming our full-year guidance with confidence in our path to sustained, profitable growth.”

First Quarter Results

(All comparisons are versus the first quarter of 2025)

For the three months ended March 31,

2026

2025 Change

(In thousands, except percentages)

Revenue$78,099 $97,250 (19.7)%

Organic Revenue(1) $78,099 $75,155 3.9 %

Gross margin42.6 %38.7 %390 bps

Adjusted Gross Margin(1) 43.5 %38.7 %480 bps

Net (loss) income$(42)$3,254 $(3,296)

Adjusted Net Income(1) $1,250 $3,254 $(2,004)

Net (loss) income margin(0.1)%3.3 %(340)bps

Adjusted EBITDA(1) $3,950 $6,929 $(2,979)

Adjusted EBITDA Margin(1) 5.1 %7.1 %(200)bps

(1) Organic Revenue, Adjusted Gross Margin, Adjusted Net Income, Adjusted EBITDA and Adjusted EBITDA Margin are non-GAAP financial measures. See tables below under “Use of Non-GAAP Financial Measures” for information on how we calculate and define these non-GAAP financial measures, including a reconciliation of these non-GAAP financial measures to the most comparable GAAP financial measures.

1

Revenue decreased 19.7% to $78.1 million compared to $97.3 million, reflecting the impact of strategic exits under Powering Honest Growth and diaper revenue declines, partially offset by continued growth in wipes and personal care.

Organic Revenue (excluding Powering Honest Growth exits)(1) increased 3.9% to $78.1 million compared to $75.2 million, driven by growth in wipes and personal care, partially offset by a decline in diaper revenue.

Tracked channel consumption(2) for the Company increased 8.3% versus 2.6% for the comparative categories in the same period.

Gross margin was 42.6% compared to 38.7%, reflecting an increase of 390 basis points. This increase was primarily driven by favorable freight, as well as product mix improvements related to strategic exits under Powering Honest Growth(3), partially offset by an increase in tariff costs. Adjusted Gross Margin(1), calculated by excluding the discrete costs of Powering Honest Growth, was 43.5%, reflecting an increase of 480 basis points.

Operating expenses decreased $1.2 million to $33.9 million. The decrease in operating expenses was driven by a decrease in selling, general & administrative expenses, partially offset by increased marketing investment to support our higher growth, higher margin wipes and personal care platforms. Adjusted Operating Expenses(1), calculated by excluding the discrete costs of Powering Honest Growth, was $33.3 million. Selling, general & administrative expenses as a percentage of revenue increased over 70 basis points mainly driven by a decline in revenue, partially offset by a reduction in third-party apparel service fees and legal expense.

Net loss of less than $0.1 million compared to net income of $3.3 million primarily related to the discrete costs of Powering Honest Growth. Adjusted Net Income(1) excluding the impact of Powering Honest Growth was $1.3 million.

Adjusted EBITDA(1) was $4.0 million compared to $6.9 million.

Balance Sheet and Cash Flow

As of March 31, 2026, the Company had no debt outstanding and $90.4 million in cash and cash equivalent

hnst-202602250001530979FALSE00015309792026-02-252026-02-25

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): February 25, 2026

The Honest Company, Inc. (Exact Name of Registrant as Specified in Its Charter)

Delaware001-4037890-0750205 (State or Other Jurisdiction of Incorporation) (Commission File Number)(IRS Employer Identification No.)

12130 Millennium Drive, #500 Los Angeles, CA 90094 (Address of Principal Executive Offices) (Zip Code) (888) 862-8818 (Registrant’s Telephone Number, Including Area Code) Not Applicable (Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s) Name of each exchange on which registered Common Stock, $0.0001 par value per shareHNSTThe Nasdaq Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On February 25, 2026, The Honest Company, Inc. (the “Company”) issued a press release announcing its financial results for the fourth quarter and year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 and incorporated herein by reference.

The information provided in this Item 2.02 of this Form 8-K, including Exhibit 99.1 hereto, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section and shall not be deemed incorporated by reference into any filing made under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such filing.

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On February 24, 2026, the Compensation Committee of the Board of Directors (the “Committee”) of The Honest Company, Inc. (the “Company”) approved and adopted The Honest Company, Inc. Severance Plan (the “Severance Plan”), pursuant to which the Company’s Chief Executive Officer (“CEO”) and certain other officers of the Company, including the Company’s currently serving named executive officers (each, including the CEO, a “Covered Employee”) will be eligible to receive certain severance benefits as described in the Severance Plan. Among other eligibility conditions, a Covered Employee must sign and return a participation agreement to be eligible to participate in the Severance Plan.

Under the terms of the Severance Plan, in the event the Company terminates a Covered Employee’s employment without cause (other than due to death or disability) or the Covered Employee resigns for good reason, in either case during the three month period prior to and ending 12 months following the date of a change in control of the Company (the “Change in Control Period”), and the Covered Employee timely executes a general release of claims against the Company, the Covered Employee will receive the following severance benefits:

•a lump sum payment equal to one times annual base salary and target cash bonus (two times in the case of the CEO); •a lump sum payment equal to the Covered Employee’s target annual cash bonus for the year of termination, prorated for the number of days worked during such year; •payment of COBRA premiums for continued health care coverage for a period of up to 12 months (up to 18 months in the case of the CEO); and •full accelerated vesting of outstanding equity awards (based on the higher of target or, if measurable, actual performance for performance-based equity awards for which the performance period has not been completed, unless otherwise provided in an individual award agreement).

In addition, in the event that the Company terminat