The Beauty Health Company Reports First Quarter Results for The HydraFacial Company

About this update from Skinhealth Systems Inc.

[{"type":"text","content":"\nRecord First Quarter Results\n\nUpdates Fiscal 2021 Outlook\n\n LONG BEACH, Calif.--(BUSINESS WIRE)--\nThe Beauty Health Company (NASDAQ: SKIN), today announced first quarter 2021 financial results for The HydraFacial Company (“HydraFacial”), a global category-creating beauty health company.\n\nFirst Quarter Financial Highlights:\n\n\nAs previously announced by HydraFacial, Q1 net sales of $47.5 million, increased 46% and 37% from Q1 2020 and Q1 2019, respectively.\n\n\nQ1 delivery system sales increased to $25.6 million, compared to $14.1 million in Q1 2020 and $17.0 million in Q1 2019.\n\n\nQ1 consumables sales increased to $21.9 million, compared to $18.5 million in Q1 2020 and $17.7 million in Q1 2019.\n\n\n\n\nQ1 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.\n\n\nQ1 operating income was $2.4 million compared to an operating loss of $7.3 million in Q1 2020.\n\n\nQ1 net loss was $3.3 million compared to a net loss of $9.1 million in Q1 2020.\n\n\nQ1 adjusted EBITDA was $7.0 million compared to an adjusted EBITDA loss of $2.1 million in Q1 2020.\n\n\nKey Operational and Business Metrics:\n\n\n\n \n\n\n\nThree months ended March 31,\n\n\n\n\n\n(dollars in millions)\n\n\n\n2021\n\n\n\n \n\n\n\n2020\n\n\n\n\n\nDelivery Systems net sales\n\n\n\n$\n\n\n\n25.6\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n14.1\n\n\n\n \n\n\n\n\n\nConsumables net sales\n\n\n\n$\n\n\n\n21.9\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n18.5\n\n\n\n \n\n\n\n\n\nTotal net sales\n\n\n\n$\n\n\n\n47.5\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n32.5\n\n\n\n \n\n\n\n\n\nGross profit\n\n\n\n$\n\n\n\n31.7\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n18.9\n\n\n\n \n\n\n\n\n\nGross margin\n\n\n\n66.8\n\n\n\n%\n\n\n\n \n\n\n\n58.2\n\n\n\n%\n\n\n\n\n\nNet loss\n\n\n\n$\n\n\n\n(3.3)\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(9.1)\n\n\n\n \n\n\n\n\n\nAdjusted EBITDA\n\n\n\n$\n\n\n\n7.0\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n(2.1)\n\n\n\n \n\n\n\n\n\nAdjusted EBITDA margin\n\n\n\n14.8\n\n\n\n%\n\n\n\n \n\n\n\n(6.4)\n\n\n\n%\n\n\n\n\n\nAdjusted gross profit\n\n\n\n$\n\n\n\n34.3\n\n\n\n \n\n\n\n \n\n\n\n$\n\n\n\n21.6\n\n\n\n \n\n\n\n\n\nAdjusted gross margin\n\n\n\n72.2\n\n\n\n%\n\n\n\n \n\n\n\n66.3\n\n\n\n%\n\n\n\n\nBrent Saunders, BeautyHealth’s Executive Chairman, stated: “We are thrilled to have closed our business combination,...

More updates from Skinhealth Systems Inc.