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TM HONEST Q2 2026 Earnings Update August 5 , 2026
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Forward Looking Statements Forward Looking Statements 2 This presentation contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. In some cases, you can identify forward-looking statements because they contain words such as "anticipate," "believe," "contemplate," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will" or "would" or the negative of these words or other similar terms or expressions. These forward-looking statements include, but are not limited to, statements concerning the Company's expectations regarding future results of operations and financial condition, including revenue, Adjusted EBITDA, Organic Revenue and Adjusted Gross Margin outlook for full year 2026; the durability of growth in the Company's fastest-growing product platforms; the Company's ability to drive shareholder value in line with its long-term algorithm; and the Company's ability to remain profitable, reinvest in its brand and accelerate household penetration. Our financial outlook reflects assumptions, including current tariff levels and our tariff mitigation measures, which are subject to change given the macroeconomic environment. These statements involve substantial risks and uncertainties that could cause actual results to differ materially. We have based the forward-looking statements in this presentation primarily on our current expectations and projections about future events and trends. The outcome of the events described in these statements is subject to risks, uncertainties and other factors described in the section titled "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 25, 2026, as updated by our Quarterly Reports on Form 10-Q and subsequent SEC filings. We undertake no obligation to update any forward-looking statements except as required by law. You should not rely upon forward-looking statements as predictions of future events. Market data and industry information used in this presentation are based on management's knowledge of the industry and good faith estimates. We have not independently verified third-party data and make no representation as to its accuracy or completeness. This presentation may contain trademarks, service marks and copyrights of other companies, which are the property of their respective owners.
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Carla Vernón Chief Executive Officer Curtiss Bruce Chief Financial & Operating Officer Our Team 3
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Q2 2026 Key Messages 4 1 2 3 Top-Line Momentum Continues Behind Higher- Margin Growth Platforms Record Profitability & Durable Foundation Enable Accelerated Reinvestment for Sustainable Growth Raising Full Year 2026 Financial Outlook
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Notes: 1. Non-GAAP measure. See appendix for reconciliation 2. MULO+ dollar consumption growth for the 13 weeks ending 06.28.26. 3. Numerator Insights 52 weeks ending 06.28.26 Q2 2026 Highlights Robust Top-Line Growth and Margin Expansion REVENUE EXPANSION +6.7% Organic Revenue Growth1 BRAND REACH 8.1% Household Penetration3 CONSUMER DEMAND +7.7% Consumption Growth2 PROFITABILITY +340bps 44% Underlying Adj. Gross Margin1 5
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Notes: 1. MULO+ dollar consumption growth for the 13 weeks ending 06.28.26. Weighted category growth represents retail consumption growth for subcategories, weighted by the Company’s subcategory growth consumption growth for the 13 weeks ending 06.28.26 Platform Momentum Higher-Growth, Higher-Margin Businesses Driving Outperformance TOTAL WIPES +26% (vs. +2% Category)1 TOTAL PERSONAL CARE +19% (vs. +5% Category)1 DIAPERS -21% (vs. -2% Category)1 ALL PURPOSE +16% (vs. Flat Category)1 FLUSHABLES +201% (vs. +12% Category)1 SANITIZING +55% (vs. +13% Category)1 Expected declines to be offset by growth platforms 6
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7 A Modern Personal Care Company Built to Last Anchored by The Honest Standard & Driven by Disciplined Execution Strengthened financial foundation Modern brand Dynamic leadership & culture Scalable growth
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STRATEGICALLY FOCUSED GROWTH-DRIVEN $294 FY 2022 FY 2025 29% 44% FY 2022 Q2 2026 +15pts 0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100% 1 2FY 2022 Q2 2026 Revenue Mix1 Consumption Growth2 Underlying Adj. Gross Margin3 Exits Diapers Personal Care Wipes Enables Investment for Growth Higher-Growth, Higher-Margin Platforms (>70% of Total HNST) Notes: 1. Represents categories as a percentage of total net revenue. 2. MULO+ dollar consumption growth for the 13 weeks ending 06.28.26. 3. Non-GAAP measure. See appendix for reconciliation. Focused, Growth-Driven & More Profitable A Durable Financial Foundation to Fuel Continued Reinvestment 8 +11% CAGR $ Millions STRUCTURALLY PROFITABLE Wipes Personal Care Diapers
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Financials 9
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10Notes: 1. Non-GAAP measure. See appendix for reconciliation. 2. Discrete items include tariff refunds and apparel liquidation. See Appendix for Reconciliation Adj. Gross Margin Bridge1 Q2 2026 Financial Results Strong Organic Growth & Structural Margin Improvement Deliver Record Profitability ORGANIC REVENUE1 +6.7% YoY $80.2M MARKETING AS % OF REVENUE 17.4% +390bps YoY UNDERLYING ADJ. EBITDA%1 9.8% +160bps YoY | $7.8M 2 Q2 2025 Structural Improvements Q2 2026 Underlying Discrete Items Q2 2026 Adjusted 40.4% 43.8% 50.1% +9.7pts 1 1
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FREE CASH FLOW1 SHARE REPURCHASECASH & CASH EQUIVALENTS $ Millions $0M $25.0 $18.7M Notes: 1. Non-GAAP measure. See appendix for reconciliation 11 ($3.8) $35.3 H1 2025 H1 2026 $89.6 $105.9 FY 2025 Q2 2026 Balance Sheet & Cash Flow Asset-light, Highly Cash Generative; Partially Benefiting from Timing of Inventory Debt Executed $ Millions $ Millions
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t Half Results to Reflect Accelerated Reinvestment FY 2026 Financial Outlook Raising Outlook on Strong First Half Results & to Reflect Accelerated Reinvestment Metric Updated Guidance Prior Guidance Revenue $319M to $325M Inc. $10M Apparel Inventory Revenue $306M to $312M Organic Revenue Growth 5% to 7% Continued Momentum (2H vs. 1H) 4% to 6% Adjusted Gross Margin Mid 40%s Low 40%s Adjusted EBITDA $23M to $25M $20M to $23M 12
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Appendix 13
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14 This presentation includes non-GAAP financial measures, including Organic Revenue, Adjusted EBITDA, Adjusted EBITDA Margin, Underlying Adjusted EBITDA, Underlying Adjusted EBITDA Margin, Adjusted Gross Margin, Underlying Adjusted Gross Margin, Adjusted Operating Expenses, Adjusted Net Income, Underlying Adjusted Net Income, Underlying Adjusted Net Income Margin, and Free Cash Flow. These measures are not prepared in accordance with GAAP and should be considered alongside, not as substitutes for, financial measures prepared in accordance with GAAP. Management believes that these non-GAAP financial measures provide investors with additional useful information in evaluating the Company's performance and facilitate internal comparisons of historical operating performance on a more consistent basis by excluding certain items that may not be indicative of ongoing business results. Management also uses these measures in assessing the health of the business, determining incentive compensation and evaluating operating performance, as well as for internal planning and forecasting purposes. Reconciliations of each non-GAAP financial measure to the most directly comparable GAAP financial measure for historical periods are provided in this presentation’s Appendix and in the Company's earnings press release furnished as Exhibit 99.1 to the Company's Current Report on Form 8-K filed on August 5, 2026, available at http://investors.honest.com and on the SEC's EDGAR system at http://www.sec.gov. With respect to full year 2026 guidance for Organic Revenue growth, Adjusted Gross Margin, and Adjusted EBITDA, the Company does not provide guidance for the most directly comparable GAAP measures (revenue, gross margin, and net income, respectively) and cannot provide a reconciliation without unreasonable effort due to the unavailability of reliable estimates for certain components, including restructuring-related costs and interest and other (income) expense, net. These items are not within the Company's control, may vary greatly between periods and could significantly impact future results calculated in accordance with GAAP. Non-GAAP Financial Measures
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15 Organic Revenue Reconciliation For Three Months Ended June 30, ($ Millions) 2026 2025 Revenue $83.3 $93.5 Less revenue from: Apparel 3.1 7.8 Honest.com — 9.8 Canada — 0.7 Organic Revenue $80.2 $75.1 Organic Revenue Growth 6.7%
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16 Adjusted Gross Margin Reconciliation For Three Months Ended June 30, (percent of revenue) 2026 2025 Gross Margin 48.4% 40.4% Restructuring-related costs 1.7% –% Adjusted Gross Margin 50.1% 40.4% Tariff refunds (7.9)% –% Apparel liquidation 1.6% —% Underlying Adjusted Gross Margin 43.8% 40.4%
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17 Adjusted Operating Expenses Reconciliation For Three Months Ended June 30, ($ Millions) 2026 2025 Total Operating Expenses $30.8 $34.9 Restructuring costs (0.4) — Adjusted Operating Expenses $31.2 $34.9
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18 Adjusted Net Income Reconciliation For Three Months Ended June 30, ($ Millions) 2026 2025 Net Income $10.7 $3.9 Restructuring-related costs 1.0 – Adjusted Net Income $11.7 $3.9 Tariff refunds 6.6 — Apparel liquidation — — Underlying Adjusted Net Income $5.1 $3.9 Underlying Adjusted Net Income Margin 6.3% 4.1%
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19 Adjusted EBITDA Reconciliation For Three Months Ended June 30, ($ Millions) 2026 2025 Net income $10.7 $3.9 Interest and other (income) expense, net (1.2) (1.0) Income tax provision 0.1 — Depreciation and amortization 0.7 0.7 Stock-based compensation 3.0 2.7 Securities litigation expense — 0.1 Executive officer transition expense 0.1 1.1 Restructuring related-costs 1.0 — Payroll tax expense related to stock-based compensation — 0.1 Adj. EBITDA $14.5 $7.6 Tariff refunds 6.6 — Apparel liquidation — — Underlying Adjusted EBITDA $7.8 $7.6 Underlying Adjusted EBITDA Margin 9.8% 8.2%
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20 Free Cash Flow Reconciliation For Six Months Ended June 30, ($ Millions) 2026 2025 Net cash provided by (used in) operating activities $37.8 ($3.7) Purchases of property and equipment (2.5) (0.1) Free Cash Flow $35.3 ($3.8)
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21 Thank You