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      "text": "1 Comparable Net Sales exclude sales related to the Obagi China Business as well as related party sales under the transition agreement entered into between Waldencast and Obagi China in connection with the Business Combination. The distribution of Obagi Skincare's products in China has remained under the ownership of Cedarwalk Skincare Limited, Obagi Skincare's former owners, who have entered into a licensing and distribution agreement with Waldencast.\n2 Adjusted Gross Margin is defined as Adjusted Gross Profit divided by US GAAP Net Revenue.\n3 Adjusted EBITDA Margin is defined as Adjusted EBITDA divided by US GAAP Net Revenue.",
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      "text": "Q1 2024 Highlights",
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