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  "documentTitle": "Olaplex | Results Presentation Deck | 25 slides",
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  "presentationDate": "2023-08-01 00:00:00",
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      "text": "Net sales decreased due to weaker than expected Q2 sales and lower baseline demand assumption in 2H 2023, sales and marketing investments to deliver stabilization in 2H 2023, and lower impact of sales of new products and distribution gains in 2H 2023\nGross margin contraction from deleverage from lower sales against fixed costs\nAdjusted EBITDA margin in the range of 36.2% to 37.8% for fiscal year 2023\nNet interest expense of approximately $40 MM for fiscal year 2023\nAdjusted effective tax rate* of approximately 20%",
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      "text": "The Company updated its guidance for fiscal year 2023 net sales, adjusted net income* and adjusted EBITDA*",
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      "text": "*Adjusted EBITDA, adjusted net income and adjusted effective tax rate are non-GAAP measures. The Company is not able to provide, without unreasonable effort, a reconciliation of the guidance for adjusted EBITDA, adjusted net income and adjusted effective tax rate to the most directly comparable GAAP measure because the Company does not currently have sufficient data to accurately estimate the variables and individual adjustments included in the most directly comparable GAAP measure that would be necessary for such reconciliations, including (a) income tax related accruals in respect of certain one-time items, (b) costs related to potential debt or equity transactions, and (c) other non-recurring expenses that cannot reasonably be estimated in advance. These adjustments are inherently variable and uncertain and depend on various factors that are beyond the Company's control and as a result it is also unable to predict their probable significance. Therefore, because management cannot estimate on a forward-looking basis without unreasonable effort the impact these variables and individual adjustments will have on its reported results in accordance with GAAP, it is unable to provide a reconciliation of the non-GAAP measures included in its fiscal 2023 guidance.",
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      "text": "Prior FY 2023 Guidance, Updated FY 2023 Guidance, Net Sales, $563 - $634 MM, $445 - $465 MM, Adjusted Net Income*, $176 - $224 MM, $96 - $108 MM, Adjusted EBITDA*, $261 - $322 MM, $161 - $176 MM",
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      "text": "Updated Fiscal Year 2023 Assumptions",
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