NASDAQ$SKIN

SkinHealth Systems Inc · Q1 2021 earnings

Q1 2021 earnings · · Investor relations

Briefing

Reported record first quarter results and updated fiscal 2021 outlook.

The Beauty Health Company reported a strong first quarter with net sales of $47.5 million, a 46% increase year-over-year. The company's performance was driven by strong sales in both delivery systems and consumables, and they have updated their top-line guidance for 2021 to approximately $200 million.

  • Q1 net sales reached $47.5 million, up 46% from Q1 2020.
  • Delivery system sales increased to $25.6 million, compared to $14.1 million in Q1 2020.
  • Consumables sales increased to $21.9 million, compared to $18.5 million in Q1 2020.
  • Q1 operating income was $2.4 million, a significant improvement from the $7.3 million operating loss in Q1 2020.

Headline financials

Total Revenue

$47.5M

Previous: $32.5M+46.1%
EPS (adj)

-$0.03

Previous: -$0.07+58.5%
Gross Margin

66.8%

Previous: 58.2%+14.8%
Adjusted EBITDA

$7M

Previous: -$2.1M+433.3%
Adjusted EBITDA Margin

14.8%

Previous: -6.4%+331.3%
Adjusted Gross Profit

$34.3M

Previous: $21.6M+58.8%
Adjusted Gross Margin

72.2%

Previous: 66.3%+8.9%
Capital Expenditures

$818K

No prior period
Free Cash Flow

$443K

No prior period
Net Income

-$3.3M

Previous: -$9.07M+63.6%
Operating Income

$2.4M

Previous: -$7.34M+132.7%
Gross Profit

$31.7M

Previous: $18.9M+67.5%
Cash & Equivalents

$14.1M

No prior period
Total Assets

$464M

No prior period
Stock-Based Comp

$34K

No prior period

Revenue & EPS history

Beauty Health · Revenue · Quarterly

$47.5M

Q1 2021+46.1%vs Q1 2020
Beat estimate in 6 of 10 quarters(60%)
ActualEstimate

Revenue by segment

Beauty Health · $47.5M total across 2 segments · Q1 2021

  • Delivery Systems
    $25.6M+81.6%
  • Consumables
    $21.9M+18.4%

Forward guidance

For fiscal year 2021, the company expects net sales of approximately $200 million, adjusted EBITDA of approximately $25 million, and up to $15 million in capital expenditures.

Tailwinds

  • Net sales of approximately $200 million.
  • Adjusted EBITDA of approximately $25 million.
  • Up to $15 million of capital expenditures.
  • Expected results from the anticipated acquisition of certain distributors in the first half of 2021.
  • Assumes a largely reopened global market.

Headwinds

  • Subject to risks and uncertainties disclosed in filings with the Securities and Exchange Commission.
  • Does not take into account the impact of any unanticipated developments in our business or changes in our operating environment.
  • Does not take into account any unannounced acquisitions, dispositions or unannounced financings during 2021.
  • Potential risk for further market closures from new COVID-19 strains.
  • Uneven global rollout of the vaccines.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2021

Historical avgQ1 2021

+0.6%

Avg return

Earnings day

-0.5%

Avg return

5 days after

-1.9%

Avg return

30 days after

52%

12 / 23 earnings

Positive

+52.1%

Q1 2025

Best reaction

-61.4%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-2.5%-29.9%-34.9%
Q4 2025+19.8%+11.3%-15.3%
Q3 2025+8.7%+3.1%+13.2%
Q1 2025+52.1%+19.4%+29.0%
Q4 2024-5.6%-9.9%-26.1%
Q3 2024+5.1%-13.1%-14.2%
Q2 2024-10.4%+0.8%+12.8%
Q1 2024-20.1%-18.4%-39.9%
Q4 2023+16.8%-0.8%+4.4%
Q3 2023-61.4%-37.2%-14.7%
Q2 2023-6.0%-12.9%-24.2%
Q1 2023-2.8%-0.2%-20.8%
Q4 2022+8.7%+13.5%+7.4%
Q3 2022-25.3%-12.3%-4.1%
Q2 2022-8.3%-8.8%-18.5%
Q1 2022-5.4%+6.6%+8.9%
Q4 2019+4.0%-4.1%-12.9%
Q4 2021+23.4%+43.1%+27.6%
Q3 2021-11.9%-8.0%-13.9%
Q2 2020+8.2%+7.4%+26.8%
Q2 2021+10.6%+23.9%+30.3%
Q1 2021+12.8%+15.9%+44.7%
Q4 2020+2.8%-0.9%-10.0%
Q3 2020
Q1 2020

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