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Jun 30, 2024
Beauty Health Q2 2024 Earnings Report
Reported net sales of $90.6 million and year-over-year operating expense improvement of nearly $18 million or 22%.
Key Takeaways
BeautyHealth's Q2 2024 results showed net sales of $90.6 million, a decrease of (22.9)% compared to the same period in 2023. This was due to lower equipment sales, partially offset by growth in consumables net sales. The company is addressing these challenges by offering lower-priced device options and additional financing solutions to providers.
Net sales were $90.6 million, a decrease of (22.9)% compared to Q2 2023, attributed to lower delivery systems net sales.
Gross margin was 45.2% compared to 57.8% in Q2 2023, with adjusted gross margin at 49.4% compared to 64.5% in Q2 2023, impacted by higher inventory related charges.
Net income was $0.2 million compared to $3.4 million in Q2 2023, primarily due to the gain on repurchase of convertible senior notes, partially offset by inventory related charges.
Adjusted EBITDA loss was $(5.2) million compared to adjusted EBITDA of $12.4 million in Q2 2023, mainly due to inventory related charges and lower net sales.
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 provided revised financial guidance for the third quarter and fiscal year 2024, reflecting continued pressure on delivery systems sales. It assumes no material deterioration in general market conditions and excludes any unannounced acquisitions, dispositions, or financings.
Challenges Ahead
- Third quarter net sales are expected to be between $70 million and $80 million.
- Third quarter adjusted EBITDA is projected to be between ($6) million and ($1) million.
- Fiscal year 2024 net sales are anticipated to be between $325 million and $345 million.
- Fiscal year 2024 adjusted EBITDA is expected to be between ($10) million and $0 million.
- Financial guidance reflects continued pressure on delivery systems sales.
Revenue & Expenses
Visualization of income flow from segment revenue to net income