Delivers double-digit net sales growth on
demand for Hydrafacial
Confirms 2023 net sales and 2025 financial
guidance, refines 2023 adjusted EBITDA margin guidance
The Beauty Health Company (NASDAQ: SKIN), home to flagship brand
Hydrafacial, today announced financial results for the second
quarter ended June 30, 2023. For the quarter, net sales of $117.5
million increased +13% year-over-year, or +32% excluding trade-ups,
continuing a trend of double-digit quarterly growth. Net income was
$3.4 million, and adjusted EBITDA margin was 15.1% for the quarter.
On the momentum, the Company re-affirms its 2023 net sales and
long-term 2025 financial guidance, and refines its 2023 adjusted
EBITDA margin to a more precise 18%-19% range.
“In the second quarter, we recommitted to our core and, in doing
so, delivered consistent double-digit top-line performance and
profitability in line with expectations,” said BeautyHealth
President and CEO Andrew Stanleick. “At the same time, we are
readying the organization for the next phase of growth, with a
fortified executive team, robust innovation pipeline and
disciplined approach to harnessing the enormous global market
opportunity in front of us.”
Consumables net sales growth was +34% year-over-year, driven by
strong volumes as demand for Hydrafacial treatments continues.
Delivery system net sales growth for the quarter was +1%
year-over-year as the Company lapped $23.3 million in trade-up
demand in the second quarter of last year associated with Syndeo's
U.S. launch. Excluding trade-up demand, delivery systems net sales
growth for the quarter was +30%.
Of note, the mix of delivery systems sold shifted towards
lower-margin refurbished devices amidst a tightening credit
environment and as U.S. providers awaited Syndeo enhancements in
the third quarter of 2023 to improve the user experience. This
unfavorably impacted gross margin for the quarter.
Net sales in the APAC region grew +143% year-over-year, or +92%
when excluding trade-ups. Of note, China's net sales growth
returned to pre-pandemic levels, growing +265% or +167% when
excluding trade-ups. EMEA showed momentum, reporting net sales
growth of +61%, or +37% when excluding trade-ups. In the Americas
region, the change in net sales was (16)%, or +18% when excluding
trade-ups.
- Strategic and Pipeline Highlights
- Partnered with LaserAway, one of the largest aesthetic chains
in the U.S., to supply Hydrafacial Syndeo devices to its more than
125 locations and any new practice sites to be opened through
2025.
- Continued expansion of Hydrafacial's Sephora presence now to
three continents with new doors in Australia and Malaysia
anticipated in the second half of the year.
- Received FDA clearance for a new facial acne scarring
indication for SkinStylus, making it the only microneedling device
FDA-cleared for treatment on both the face and abdomen.
- Collaborating with Amazon Web Services, Inc. (AWS) Generative
AI Innovation Center to expand the functionalities of the
BeautyHealth data platform and to design new generative AI products
and processes.
- Unveiled a custom Dior by Hydrafacial Syndeo delivery system at
Dior Spa Cruise 2023 for exclusive use at select Dior spas
worldwide.
- Launched a re-imagined GLOWvolution campaign in New York and
Los Angeles, generating more than 1,200% growth in earned media
value compared to last year's program.
Key Operational and Business Metrics
Three Months Ended June
30,
Six Months Ended June
30,
Unaudited ($ in 000's)
2023
2022
2023
2022
New systems sold
2,389
1,535
4,025
3,104
Trade-up systems sold
433
1,203
571
1,461
Total systems sold
2,822
2,738
4,596
4,565
Delivery system average selling price
$
22.9
$
23.5
$
23.8
$
22.7
Active install base
29,682
22,929
29,682
22,929
Three Months Ended June
30,
Six Months Ended June
30,
Unaudited ($ in millions) (3)
2023
2022(1)
2023
2022(1)
Delivery Systems net sales
$
65.6
$
64.8
$
110.9
$
106.4
Consumables net sales
51.9
38.8
92.8
72.5
Total net sales
$
117.5
$
103.5
$
203.8
$
179.0
Gross profit
$
67.9
$
70.0
$
122.0
$
120.9
Gross margin
57.8
%
67.6
%
59.9
%
67.6
%
Adjusted gross profit(2)
$
76.2
$
73.5
$
136.5
$
127.6
Adjusted gross margin(2)
64.8
%
71.0
%
67.0
%
71.3
%
Net income (loss)
$
3.4
$
6.3
$
(16.9
)
$
37.8
Adjusted EBITDA(2)
$
17.8
$
14.6
$
17.3
$
18.3
Adjusted EBITDA margin(2)
15.1
%
14.1
%
8.5
%
10.2
%
___________________
(1)
Reflects the impact of immaterial
revisions to the financial statements.
(2)
See "Non-GAAP Financial Measures"
below.
(3)
Amounts may not sum due to rounding.
Financial Highlights
- Net sales were $117.5 million for the second quarter of 2023,
an increase of 13% compared to the prior year period, driven by
strong demand for Hydrafacial from providers and by strength in
consumables.
- Gross margin was 57.8% in Q2 2023 compared to 67.6% in Q2 2022.
Adjusted gross margin was 64.8% in Q2 2023 compared to 71.0% in Q2
2022. Gross margin was impacted by an increase in sales of lower
margin refurbished systems, particularly in the U.S., and the
sell-through of higher cost inventory.
- Net income was $3.4 million in Q2 2023 compared to net income
of $6.3 million in Q2 2022. The decrease compared to the prior year
was due primarily to a benefit from the change in the fair value of
warrant liabilities.
- Adjusted EBITDA was $17.8 million in Q2 2023 compared to
adjusted EBITDA of $14.6 million in Q2 2022, primarily due to a
year-over-year reduction in selling and marketing expenses that was
partially offset by gross margin headwinds.
Net Sales by Region
Three Months Ended June
30,
Six Months Ended June
30,
Unaudited ($ in millions) (1)
2023
2022
2023
2022
Americas
$
63.6
$
75.4
$
116.6
$
120.0
Asia-Pacific (“APAC”)
25.2
10.4
38.9
23.3
Europe, the Middle East and Africa
(“EMEA”)
28.6
17.8
48.3
35.7
Total net sales
$
117.5
$
103.5
$
203.8
$
179.0
___________________
(1)
Amounts may not sum due to rounding.
- Net sales in the Americas region decreased (16)% to
$63.6 million in Q2 2023 compared to Q2 2022, driven by lower
trade-up volume. When excluding the impact of trade-ups, Americas
total net sales grew by +18%.
- Net sales in the APAC region increased +143% to $25.2
million in Q2 2023 compared to Q2 2022, returning to pre-pandemic
growth on the heels of China's recovery. When excluding the impact
of trade-ups, APAC total net sales grew by +92%.
- Net sales in the EMEA region increased +61% to $28.6
million in Q2 2023 compared to Q2 2022, driven by strong demand for
systems and consumables. When excluding the impact of trade-ups,
EMEA total net sales grew by +37%.
Operating Expenses
- Selling and marketing expenses were $43.0 million in Q2 2023
compared to $44.9 million in Q2 2022, primarily driven by lower
sales commission expense. As a percentage of net sales, selling and
marketing expenses, as reported and as adjusted, decreased 670 and
820 basis points, respectively, year-over-year.
- General and administrative expenses were $35.1 million in Q2
2023 compared to $27.6 million in Q2 2022, primarily due to higher
personnel related compensation, including higher share-based
compensation and severance and restructuring expenses, partially
offset by lower recruiting related expenses.
Balance Sheet and Cash Flow Highlights
- Cash and cash equivalents were approximately $549.7 million as
of June 30, 2023 compared to approximately $568.2 million as of
December 31, 2022. Cash and cash equivalents decreased during the
year primarily due to strategic acquisitions made during Q1
2023.
- The Company had approximately 7.0 million private placement
warrants and approximately 132.9 million shares of Class A common
stock outstanding as of June 30, 2023. In April 2023, the Company
completed its second $100.0 million accelerated share repurchase
transaction. With the two $100.0 million accelerated share
repurchase programs, the Company retired an aggregate of
approximately 18.8 million shares at an average price of $10.78 per
share.
Financial Guidance
Current as of August 2023
Previous
Fiscal Year 2023
Net sales
$460 – $480 million
$460 – $480 million
Adjusted gross margin(1)
—
> Fiscal 2022
Adjusted EBITDA margin(1)
18% – 19%
18% – 20%
Fiscal Year 2025
Net sales
$600 – $700 million
$600 – $700 million
Adjusted EBITDA margin(1)
25% – 30%
25% – 30%
___________________
(1)
See "Non-GAAP Financial Measures"
below.
- The Company re-affirmed its fiscal year 2023 net sales due to
continued demand for Hydrafacial, strong trends in China and
ability to drive operating leverage, and refined its fiscal year
2023 adjusted EBITDA guidance to a range of 18-19% from 18-20%
previously.
- The Company retracted its 2023 fiscal year 2023 adjusted gross
margin guidance due to Q2 margin headwinds carrying into the back
half of 2023.
- The Company re-affirmed its fiscal year 2025 long-range
outlook, due to continued strong business fundamentals, fortified
leadership team and its expected pipeline of innovation.
Financial guidance reflects the following external environment
assumptions:
- Assumes no material deterioration in general market conditions
or other unforeseen circumstances beyond the Company's
control.
- Excludes any unannounced acquisitions, dispositions or
financings during 2023.
- Assumes a largely re-opened global market, which would be
negatively impacted if closures related to COVID-19 or other
restrictive measures are reimplemented.
- Assumes no material deterioration in foreign currency exchange
rates.
Conference Call
BeautyHealth will host a conference call on Wednesday, August 9,
2023, at 8:30 a.m. ET to review its second quarter 2023 financial
results. The call may be accessed via live webcast through the
Events & Presentations page on our Investor Relations website
at https://investors.beautyhealth.com. A replay of the conference
call will be available approximately three hours after the
conclusion of the call and can be accessed online at
https://investors.beautyhealth.com.
Non-GAAP Financial Measures
In addition to results determined in accordance with accounting
principles generally accepted in the United States of America
("GAAP"), management utilizes certain non-GAAP financial measures
such as adjusted gross profit, adjusted selling and marketing
expense, adjusted research and development expense, adjusted
general and administrative expense and adjusted EBITDA for purposes
of evaluating ongoing operations and for internal planning and
forecasting purposes.
Management believes that these non-GAAP financial measures, when
reviewed collectively with the Company’s GAAP financial
information, provide useful supplemental information to investors
in assessing the Company's operating performance. These non-GAAP
financial measures should not be considered as an alternative to
GAAP financial information or as an indication of operating
performance or any other measure of performance derived in
accordance with GAAP, and may not provide information that is
directly comparable to that provided by other companies in its
industry, as these other companies may calculate non-GAAP financial
measures differently, particularly related to unusual items.
Net sales excluding trade-ups is calculated as net sales
excluding the effect of net sales associated with delivery systems
sold under a trade-up program.
Adjusted gross profit is gross profit excluding the effects of
depreciation expense, amortization expense, stock-based
compensation expense and other items such as write-off of
discontinued and obsolete product, Syndeo product optimization
logistics & service costs and accrual for annual cash
incentives.
Adjusted selling and marketing expense is calculated as selling
and marketing expense excluding the effects of depreciation
expense, amortization expense, stock-based compensation expense and
other items such as the accrual for annual cash incentives and
severance, restructuring and other. Adjusted research and
development expense is calculated as research and development
expense excluding the effects of stock-based compensation expense
and other items such as the accrual for annual cash incentives and
severance, restructuring and other. Adjusted general and
administrative expense is calculated as general and administrative
expense excluding the effects of depreciation expense, amortization
expense, stock-based compensation expense, loss on disposal of
assets, transaction related costs, litigation related costs,
accrual for annual cash incentives and severance, restructuring and
other.
Adjusted EBITDA is calculated as net income (loss) excluding the
effects of (benefit) expense for income taxes, depreciation
expense, amortization expense, stock-based compensation expense,
interest expense, interest income, other (income) expense, change
in fair value of warrant liability, foreign currency (gain) loss,
net, loss on disposal of assets, transaction related costs,
write-off of discontinued and obsolete product, litigation related
costs, Syndeo product optimization logistics & service costs,
accrual for annual cash incentives and severance, restructuring and
other.
The Company does not provide a reconciliation of its fiscal 2023
adjusted EBITDA margin guidance to net income (loss), the most
directly comparable forward looking GAAP financial measures, due to
the inherent difficulty in forecasting and quantifying certain
amounts that are necessary for such reconciliation, which cannot be
done without unreasonable efforts, including adjustments that could
be made for changes in fair value of warrant liabilities,
integration and acquisition-related expenses, amortization
expenses, non-cash stock-based compensation, gains/losses on
foreign currency, and other charges reflected in our reconciliation
of historic numbers, the amount of which, based on historical
experience, could be significant. The presentation of this
financial information is not intended to be considered in isolation
or as a substitute for the financial information prepared and
presented in accordance with GAAP. The Company's fiscal 2023
adjusted gross margin and adjusted EBITDA margin guidance is merely
an outlook and is not a guarantee of future performance.
Stockholders should not rely or place an undue reliance on such
forward-looking statements. See “Forward-Looking Statements” for
additional information.
The Beauty Health
Company
Condensed Consolidated
Statements of Comprehensive Income (Loss) (1)
($ in millions, except share
and per share amounts)
(Unaudited)
Three Months Ended June
30,
Six Months Ended June
30,
2023
2022(2)
2023
2022(2)
Net sales
$
117.5
$
103.5
$
203.8
$
179.0
Cost of sales
49.6
33.5
81.8
58.0
Gross profit
67.9
70.0
122.0
120.9
Operating expenses:
Selling and marketing
43.0
44.9
81.7
81.3
Research and development
2.9
2.6
5.2
4.8
General and administrative
35.1
27.6
65.5
53.8
Total operating expenses
81.0
75.1
152.4
140.0
Loss from operations
(13.1
)
(5.0
)
(30.5
)
(19.0
)
Interest expense, net
3.4
3.2
6.8
6.6
Interest income
(5.7
)
(0.7
)
(10.0
)
(0.7
)
Other (income) expense, net
—
(0.9
)
(0.5
)
—
Change in fair value of warrant
liabilities
(11.6
)
(15.2
)
(2.5
)
(67.2
)
Foreign currency transaction (gain) loss,
net
(0.4
)
2.2
(1.5
)
1.8
Income (loss) before provision for
income taxes
1.2
6.4
(22.8
)
40.5
Income tax (benefit) expense
(2.2
)
0.1
(5.9
)
2.7
Net income (loss)
3.4
6.3
(16.9
)
37.8
Comprehensive income (loss), net of
tax:
Foreign currency translation
adjustments
(0.4
)
(3.7
)
0.5
(3.8
)
Comprehensive income (loss)
$
3.0
$
2.6
$
(16.4
)
$
33.9
Net income (loss) per share
Basic
$
0.03
$
0.04
$
(0.13
)
$
0.25
Diluted
$
0.03
$
(0.06
)
$
(0.13
)
$
(0.19
)
Weighted average common shares
outstanding
Basic
132,716,024
150,731,491
132,569,209
150,665,166
Diluted
132,716,024
151,719,451
132,569,209
152,274,394
___________________
(1)
Amounts may not sum due to rounding.
(2)
Reflects the impact of immaterial
revisions to the financial statements.
The Beauty Health
Company
Condensed Consolidated Balance
Sheets (1)
($ in millions)
(Unaudited)
June 30, 2023
December 31, 2022 (2)
ASSETS
Current assets:
Cash and cash equivalents
$
549.7
$
568.2
Accounts receivable, net
74.6
76.5
Inventories
107.0
109.7
Income tax receivable
5.6
1.3
Prepaid expenses and other current
assets
30.9
27.6
Total current assets
767.9
783.3
Property and equipment, net
18.0
18.2
Right-of-use assets, net
13.8
15.6
Intangible assets, net
65.6
46.4
Goodwill
125.4
124.6
Deferred income tax assets, net
0.8
0.8
Other assets
16.1
14.2
TOTAL ASSETS
$
1,007.5
$
1,003.1
LIABILITIES AND STOCKHOLDERS’
EQUITY
Current liabilities:
Accounts payable
$
29.4
$
28.5
Accrued payroll-related expenses
26.2
21.7
Other accrued expenses
19.1
15.2
Lease liabilities, current
4.9
5.0
Income tax payable
3.2
1.4
Total current liabilities
82.8
71.7
Lease liabilities, non-current
10.6
12.7
Deferred income tax liabilities, net
2.0
2.0
Warrant liabilities
13.0
15.5
Convertible senior notes, net
736.3
734.1
Other long-term liabilities
1.0
—
TOTAL LIABILITIES
$
845.6
$
836.0
Stockholders’ equity:
Class A Common Stock
$
—
$
—
Additional paid-in capital
561.5
550.3
Accumulated other comprehensive loss
(4.0
)
(4.5
)
Accumulated deficit
(395.6
)
(378.8
)
Total stockholders’ equity
$
161.8
$
167.1
LIABILITIES AND STOCKHOLDERS’
EQUITY
$
1,007.5
$
1,003.1
___________________
(1)
Amounts may not sum due to rounding.
(2)
Reflects the impact of immaterial
revisions to the financial statements.
The Beauty Health
Company
Condensed Consolidated
Statement of Cash Flows (1)
($ in millions)
(Unaudited)
Six Months Ended June
30,
2023
2022 (2)
Cash and cash equivalents at beginning of
period
$
568.2
$
901.9
Operating activities:
Net (loss) income
(16.9
)
37.8
Non-cash adjustments
36.0
(33.2
)
Change in operating assets and
liabilities:
Accounts receivable
(0.1
)
(34.4
)
Inventories
(2.6
)
(38.6
)
Prepaid expenses, other current assets,
and income tax receivable
(12.2
)
(5.2
)
Accounts payable, accrued expenses, and
income tax payable
9.2
8.4
Other, net
(4.4
)
(4.6
)
Net cash provided by (used for) operating
activities
9.0
(69.8
)
Net cash used for investing activities
(24.9
)
(8.3
)
Net cash used for financing activities
(3.7
)
(2.8
)
Net decrease in cash and cash
equivalents
(19.7
)
(80.9
)
Effect of foreign currency translation
1.2
—
Cash and cash equivalents at end of
period
$
549.7
$
821.0
___________________
(1)
Amounts may not sum due to rounding.
(2)
Reflects the impact of immaterial
revisions to the financial statements.
The following table reconciles gross
profit to adjusted gross profit for the periods presented:
Three Months Ended June
30,
Six Months Ended June
30,
Unaudited ($ in millions) (2)
2023
2022(1)
2023
2022(1)
Net sales
$
117.5
$
103.5
$
203.8
$
179.0
Gross profit
$
67.9
$
70.0
$
122.0
$
120.9
Gross margin
57.8
%
67.6
%
59.9
%
67.6
%
Adjusted to exclude the following:
Depreciation expense
0.6
0.6
1.1
1.0
Amortization expense
4.5
2.4
6.9
4.6
Stock-based compensation expense
0.4
0.2
0.7
0.4
Write-off of discontinued and obsolete
product
1.0
—
4.0
—
Syndeo product optimization logistics
& service costs
1.4
—
1.4
—
Accrual for annual cash incentives(3)
0.4
0.3
0.4
0.6
Adjusted gross profit
$
76.2
$
73.5
$
136.5
$
127.6
Adjusted gross margin
64.8
%
71.0
%
67.0
%
71.3
%
___________________
(1)
Reflects the impact of immaterial
revisions to the financial statements.
(2)
Amounts may not sum due to rounding.
(3)
Amount in the prior periods adjusted to
exclude its impact for comparability purposes.
The following table reconciles selling and
marketing expense to adjusted selling and marketing expense for the
periods presented:
Three Months Ended June
30,
Six Months Ended June
30,
Unaudited ($ in millions) (2)
2023
2022(1)
2023
2022(1)
Net sales
$
117.5
$
103.5
$
203.8
$
179.0
Selling and marketing expense
$
43.0
$
44.9
$
81.7
$
81.3
% net sales
36.6
%
43.3
%
40.1
%
45.4
%
Adjusted to exclude the following:
Depreciation expense
1.1
0.2
1.4
0.7
Amortization expense
1.0
0.6
1.6
1.3
Stock-based compensation expense
1.7
2.0
3.5
4.8
Accrual for annual cash incentives(3)
1.8
1.1
1.8
1.4
Severance, restructuring and other
1.5
0.8
1.7
0.8
Adjusted selling and marketing expense
$
36.0
$
40.1
$
71.8
$
72.2
Adjusted % net sales
30.6
%
38.8
%
35.2
%
40.4
%
___________________
(1)
Reflects the impact of immaterial
revisions to the financial statements.
(2)
Amounts may not sum due to rounding.
(3)
Amount in the prior periods adjusted to
exclude its impact for comparability purposes.
The following table reconciles research
and development expense to adjusted research and development
expense for the periods presented:
Three Months Ended June
30,
Six Months Ended June
30,
Unaudited ($ in millions) (2)
2023
2022(1)
2023
2022(1)
Net sales
$
117.5
$
103.5
$
203.8
$
179.0
Research and development expense
$
2.9
$
2.6
$
5.2
$
4.8
% net sales
2.5
%
2.5
%
2.6
%
2.7
%
Adjusted to exclude the following:
Stock-based compensation expense
0.4
0.3
0.4
0.4
Accrual for annual cash incentives(3)
0.4
0.8
0.4
0.6
Severance, restructuring and other
0.1
—
0.5
—
Adjusted research and development
expense
$
2.0
$
1.6
$
4.0
$
3.8
Adjusted % net sales
1.7
%
1.5
%
1.9
%
2.1
%
___________________
(1)
Reflects the impact of immaterial
revisions to the financial statements.
(2)
Amounts may not sum due to rounding.
(3)
Amount in the prior periods adjusted to
exclude its impact for comparability purposes.
The following table reconciles general and
administrative expense to adjusted general and administrative
expense for the period presented:
Three Months Ended June
30,
Six Months Ended June
30,
Unaudited ($ in millions) (2)
2023
2022(1)
2023
2022(1)
Net sales
$
117.5
$
103.5
$
203.8
$
179.0
General and administrative expense
$
35.1
$
27.6
$
65.5
$
53.8
% net sales
29.9
%
26.6
%
32.1
%
30.1
%
Adjusted to exclude the following:
Depreciation expense
0.9
1.1
1.9
1.5
Amortization expense
2.3
0.9
3.7
1.8
Stock-based compensation expense
6.1
3.9
7.6
7.8
Loss on disposal of assets
—
1.0
0.1
1.0
Transaction related costs
0.8
2.0
0.8
3.0
Litigation related costs
0.5
—
1.5
—
Accrual for annual cash incentives(3)
2.8
1.5
2.8
3.4
Severance, restructuring and other
1.3
0.1
3.5
2.1
Adjusted general and administrative
expense
$
20.4
$
17.1
$
43.6
$
33.3
Adjusted % net sales
17.4
%
16.6
%
21.4
%
18.6
%
___________________
(1)
Reflects the impact of immaterial
revisions to the financial statements.
(2)
Amounts may not sum due to rounding.
(3)
Amount in the prior periods adjusted to
exclude its impact for comparability purposes.
The following table reconciles net income
(loss) to adjusted EBITDA for the periods presented:
Three Months Ended June
30,
Six Months Ended June
30,
Unaudited ($ in millions) (2)
2023
2022(1)
2023
2022(1)
Net sales
$
117.5
$
103.5
$
203.8
$
179.0
Net income (loss)
$
3.4
$
6.3
$
(16.9
)
$
37.8
Adjusted to exclude the following:
(Benefit) expense for income taxes
(2.2
)
0.1
(5.9
)
2.7
Depreciation expense
2.6
1.9
4.5
3.3
Amortization expense
7.8
3.9
12.2
7.7
Stock-based compensation expense
8.5
6.4
12.1
13.4
Interest expense
3.4
3.2
6.8
6.6
Interest income
(5.7
)
(0.7
)
(10.0
)
(0.7
)
Other (income) expense, net
—
(0.9
)
(0.5
)
—
Change in fair value of warrant
liability
(11.6
)
(15.2
)
(2.5
)
(67.2
)
Foreign currency (gain) loss, net
(0.4
)
2.2
(1.5
)
1.8
Loss on disposal of assets
—
1.0
0.1
1.0
Transaction related costs
0.8
2.0
0.8
3.0
Write-off of discontinued and obsolete
product
1.0
—
4.0
—
Litigation related costs
0.5
—
1.5
—
Syndeo product optimization logistics
& service costs
1.4
—
1.4
—
Accrual for annual cash incentives(3)
5.4
3.6
5.4
6.1
Severance, restructuring and other
2.8
0.9
5.7
2.9
Adjusted EBITDA
$
17.8
$
14.6
$
17.3
$
18.3
Adjusted EBITDA margin
15.1
%
14.1
%
8.5
%
10.2
%
___________________
(1)
Reflects the impact of immaterial
revisions to the financial statements.
(2)
Amounts may not sum due to rounding.
(3)
Amount in the prior periods adjusted to
exclude its impact for comparability purposes.
About The Beauty Health Company
The Beauty Health Company (NASDAQ: SKIN) is a global
category-creating company delivering millions of skin health
experiences every year that help consumers reinvent their
relationship with their skin, bodies and self-confidence. Our
brands are pioneers: Hydrafacial™ in hydradermabrasion, SkinStylus™
in microneedling, and Keravive™ in scalp health. Together, with our
powerful community of estheticians, partners and consumers, we are
personalizing skin health for all ages, genders, skin tones, and
skin types in more than 90 countries. We are committed to being
ever more mindful in how we conduct our business to positively
impact our communities and the planet. Find a local provider at
https://hydrafacial.com/find-a-provider/, and learn more at
beautyhealth.com or LinkedIn.
Forward-Looking Statements
Certain statements made in this release are “forward looking
statements” within the meaning of the “safe harbor” provisions of
the United States Private Securities Litigation Reform Act of 1995,
including statements regarding The Beauty Health Company’s
strategy, plans, objectives, initiatives and financial outlook.
When used in this press release, the words “estimates,”
“projected,” “expects,” “anticipates,” “forecasts,” “plans,”
“intends,” “believes,” “seeks,” “may,” “will,” “should,” “future,”
“propose” and variations of these words or similar expressions (or
the negative versions of such words or expressions) are intended to
identify forward-looking statements.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside The Beauty Health Company’s
control, that could cause actual results or outcomes to differ
materially from those discussed in the forward-looking statements.
As such, readers are cautioned not to place undue reliance on any
forward-looking statements.
Important factors that may affect actual results or outcomes
include, among others: The Beauty Health Company’s ability to
manage growth; The Beauty Health Company’s ability to execute its
business plan; potential litigation involving The Beauty Health
Company; changes in applicable laws or regulations; the possibility
that The Beauty Health Company may be adversely affected by other
economic, business, and/or competitive factors; the impact of the
continuing COVID-19 pandemic on the Company’s business; and other
risks and uncertainties set forth in the sections entitled “Risk
Factors” and “Cautionary Note Regarding Forward-Looking Statements”
in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2022 filed with the U.S. Securities and Exchange
Commission (the “SEC”) and in the Company’s subsequent filings with
the SEC. There may be additional risks that the Company does not
presently know of or that the Company currently believes are
immaterial that could also cause actual results to differ from
those contained in the forward-looking statements. The Beauty
Health Company does not undertake any obligation to update or
revise any forward-looking statements, whether as a result of new
information, future events, or otherwise, except as required by
law.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20230809785640/en/
The One Nine Three Group Investors: BeautyHealthIR@the193.com
Press: BeautyHealth@the193.com
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