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Dec 31, 2023
Beauty Health Q4 2023 Earnings Report
Net sales decreased slightly year-over-year, but were driven by growth across international markets.
Key Takeaways
BeautyHealth reported Q4 2023 financial results with net sales of $96.8 million, a decrease of (1.3)% compared to the prior year period. The results reflect lower equipment sales in the Americas, substantially offset by steady growth in Americas consumables net sales and strong device placement in Asia-Pacific.
Net sales were $96.8 million, a decrease of (1.3)% compared to the prior year period, with challenges in the Americas largely offset by growth in APAC and EMEA.
Gross margin was 47.2% compared to 67.8% in the prior year. Adjusted gross margin was 54.6% compared to 73.6% in the prior year, impacted by higher inventory related charges and higher product and warranty costs.
Net loss was $(9.4) million compared to net income of $6.5 million in the prior year, primarily due to gross margin pressures.
Adjusted EBITDA was $3.4 million compared to $17.6 million in the prior year, primarily due to gross margin pressures.
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 financial guidance for the first quarter and full year 2024.
Positive Outlook
- First quarter financial guidance reflects our seasonally lowest sales quarter of the year and investments in sales and marketing spend in the 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.
- Fiscal Year 2024 Net sales Flat to low-single digit % growth
- Fiscal Year 2024 Adjusted EBITDA > $40 million
Challenges Ahead
- First Quarter 2024 Net sales $77 – $83 million
- First Quarter 2024 Adjusted EBITDA ($6) – ($9) million
- First quarter financial guidance reflects our seasonally lowest sales quarter of the year
- Investments in sales and marketing spend in the quarter
- Assumes no material deterioration in general market conditions or other unforeseen circumstances beyond the Company's control, such as foreign currency exchange rates.
Revenue & Expenses
Visualization of income flow from segment revenue to net income