Business
BeautyHealth Reports First Quarter 2024 Financial Results
Delivers first quarter net sales of $81.4 million; year-over-year operating expense improvement of $6.1 million Repurchases $192.3 million of convertible
About this update from Skinhealth Systems Inc.
[{"type":"text","content":"\nDelivers first quarter net sales of $81.4 million; year-over-year operating expense improvement of $6.1 million\n\n\nRepurchases $192.3 million of convertible notes through May 8th\n\n\n LONG BEACH, Calif.--(BUSINESS WIRE)--\nThe Beauty Health Company (NASDAQ: SKIN) (“BeautyHealth”), home to flagship brand Hydrafacial, today announced financial results for the first quarter ended March 31, 2024. First quarter net sales of $81.4 million decreased (5.7)% relative to the same period in 2023. First quarter results reflect lower equipment sales substantially offset by steady growth in consumables net sales.\n\n\n\"Our first quarter results demonstrate the progress we are making on our near-term strategic priorities, including sales excellence, operational excellence, and financial discipline,” said BeautyHealth Chief Executive Officer Marla Beck. \"I am confident that our continued execution of our business transformation strategy will lay the foundation for future growth. By focusing on our providers and the clinically proven efficacy of the Hydrafacial treatment system, we will ensure our flagship brand remains a leading facial treatment in aesthetics while we continue to unlock its potential with providers and consumers across the globe.\"\n\n\nKey Operational and Business Metrics\n\n\n\n\n \n\n\n\n\n\n\nThree Months Ended March 31,\n\n\n\n\n\n\n\n\nUnaudited ($ in millions) (2)\n\n\n\n\n\n\n \n\n\n\n\n\n\n2024\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n2023(1)\n\n\n\n\n\n\n\n\nDelivery Systems net sales\n\n\n\n\n\n\n$\n\n\n\n\n\n\n35.8\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n45.4\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nConsumables net sales\n\n\n\n\n\n\n \n\n\n\n\n\n\n45.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n40.9\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nTotal net sales\n\n\n\n\n\n\n$\n\n\n\n\n\n\n81.4\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n86.3\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGross profit\n\n\n\n\n\n\n$\n\n\n\n\n\n\n48.4\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n54.1\n\n\n\n\n\n\n \n\n\n\n\n\n\n\n\nGross margin\n\n\n\n\n\n\n \n\n\n\n\n\n\n59.4\n\n\n\n\n\n\n%\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n62.7\n\n\n\n\n\n\n%\n\n\n\n\n\n\n\n\nAdjusted gross profit(3)\n\n\n\n\n\n\n$\n\n\n\n\n\n\n51.6\n\n\n\n\n\n\n \n\n\n\n\n\n\n \n\n\n\n\n\n\n$\n\n\n\n\n\n\n60.4\n\n\n\n\n\n\n \...