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Mar 31, 2024
Beauty Health Q1 2024 Earnings Report
Reported first quarter net sales of $81.4 million with year-over-year operating expense improvement.
Key Takeaways
BeautyHealth's first quarter net sales reached $81.4 million, a decrease of (5.7)% compared to the same period in 2023, with lower equipment sales offset by growth in consumables. The company reported a net loss of $(0.7) million, an improvement from the prior year, and an adjusted EBITDA of $0.4 million.
Net sales for the first quarter of 2024 were $81.4 million, a decrease of (5.7)% compared to the prior year period, due to lower delivery systems net sales.
Gross margin was 59.4% in Q1 2024, compared to 62.7% in Q1 2023, with adjusted gross margin at 63.4% versus 70.0% in the prior year.
Net loss was $(0.7) million in Q1 2024, compared to a net loss of $(20.3) million in Q1 2023, primarily due to the gain on repurchase of convertible notes.
Adjusted EBITDA was $0.4 million in Q1 2024, compared to adjusted EBITDA of $(0.5) million in Q1 2023, primarily due to lower operating expenses.
Beauty Health
Beauty Health
Beauty Health Revenue by Segment
Beauty Health Revenue by Geographic Location
Revenue by Segment
Delivery Systems Revenue
CapyFin.comConsumables Revenue
CapyFin.comRevenue by Geographic Location
Americas Revenue
CapyFin.comAPAC Revenue
CapyFin.comEMEA Revenue
CapyFin.com Forward Guidance
The company expects second quarter net sales between $96 and $102 million and adjusted EBITDA between $4 and $7 million. For fiscal year 2024, the company anticipates flat to low-single digit % growth in net sales and adjusted EBITDA greater than $40 million.
Positive Outlook
- Fiscal year financial guidance reflects a return to net sales growth in the second half of 2024, primarily weighted toward the fourth quarter.
- Assumes no material deterioration in general market conditions or other unforeseen circumstances beyond the Company's control, such as foreign currency exchange rates.
- Excludes any unannounced acquisitions, dispositions or financings.
Challenges Ahead
- Second quarter financial guidance reflects a challenging year-over-year comparison due to the international launch of Syndeo in the comparable 2023 period.
Revenue & Expenses
Visualization of income flow from segment revenue to net income