The Beauty Health Company (SKIN) Reports Q1 Revenues of $47.5M; Offers FY21 Revenues Outlook
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The Beauty Health Company (NASDAQ: SKIN) reported Q1 revenue for the quarter came in at $47.5 million, versus $32.5 million reported last year.
First Quarter Financial Highlights:
- As previously announced by HydraFacial, Q1 net sales of $47.5 million, increased 46% and 37% from Q1 2020 and Q1 2019, respectively.
- Q1 delivery system sales increased to $25.6 million, compared to $14.1 million in Q1 2020 and $17.0 million in Q1 2019.
- Q1 consumables sales increased to $21.9 million, compared to $18.5 million in Q1 2020 and $17.7 million in Q1 2019.
- Q1 gross margin increased to 66.8% compared to 58.2% in Q1 2020 and Q1 adjusted gross margin increased to 72.2% compared to 66.3% in Q1 2020.
- Q1 operating income was $2.4 million compared to an operating loss of $7.3 million in Q1 2020.
- Q1 net loss was $3.3 million compared to a net loss of $9.1 million in Q1 2020.
- Q1 adjusted EBITDA was $7.0 million compared to an adjusted EBITDA loss of $2.1 million in Q1 2020.
Brent Saunders, BeautyHealth’s Executive Chairman, stated: “We are thrilled to have closed our business combination, becoming The Beauty Health Company. This is an important corporate milestone for the company and a significant event in the category we pioneered, beauty health. The capital and strategic resources from this transaction positions us well to expand our footprint globally and deliver sustainable growth. We have created the ideal platform to achieve our goal of building an enduring and premier company in the beauty health category.”
Clint Carnell, BeautyHealth’s CEO, stated: “We are pleased with our performance this quarter, which underscores the resilience of this business, as well as the changing consumer behavioral shifts into health and wellness. HydraFacial Nation, our community of passionate estheticians, is a compelling branding ecosystem and is an important driver of our continued strength. We achieved strong sales in our delivery systems and consumables globally, despite much of Europe remaining under COVID-19 restrictions and many of our partners still closed. As a result of our strong performance, we are pleased to provide updated and increased top-line guidance for 2021 of approximately $200 million.”
The Beauty Health Company sees FY2021 revenue of $200 million.
For fiscal 2021, we expect:
- Net sales of approximately $200 million.
- Adjusted EBITDA of approximately $25 million.
- Up to $15 million of capital expenditures.
For earnings history and earnings-related data on The Beauty Health Company (SKIN) click here.
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