NASDAQ$SKIN

SkinHealth Systems Inc · Q2 2022 earnings

Q2 2022 earnings · · Investor relations

Briefing

Reported record financial results, exceeding expectations and raised net sales guidance for 2022.

BeautyHealth announced record second-quarter results with net sales growth of 55.7% year-over-year, reaching $103.5 million. The company raised its full-year net sales guidance and reaffirmed its adjusted EBITDA outlook, driven by strong demand for HydraFacial delivery systems and healthy consumer interest.

  • Net sales increased by 55.7% year-over-year to $103.5 million.
  • Net income reached $7.9 million, a significant improvement compared to a net loss of $139.4 million in the same quarter last year.
  • Adjusted EBITDA grew by 10.9% to $12.6 million.
  • Americas net sales increased by 76.6% year-over-year, driven by strong demand for Syndeo.

Headline financials

Total Revenue

$104M

Previous: $66.5M+55.7%
EPS (adj)

$0.01

Previous: -$1.52+100.9%
Gross Margin

69.2%

Previous: 71.0%-2.5%
Adjusted EBITDA

$12.6M

Previous: $11.4M+10.9%
Adjusted EBITDA Margin

12.2%

No prior period
Adjusted Gross Margin

72.3%

Previous: 74.9%-3.5%
Capital Expenditures

-$5.58M

Previous: -$4.71M-18.5%
Free Cash Flow

$2.35M

Previous: -$144M+101.6%
Net Income

$7.93M

Previous: -$139M+105.7%
Operating Income

-$3.41M

Previous: -$26.4M+87.0%
Gross Profit

$71.7M

Previous: $47.3M+51.6%
Cash & Equivalents

$821M

Previous: $102M+708.8%
Total Assets

$1.21B

Previous: $343M+254.7%
Stock-Based Comp

$6.38M

Previous: $3.51M+81.8%

Revenue & EPS history

Beauty Health · Revenue · Quarterly

$104M

Q2 2022+55.7%vs Q2 2021
Beat estimate in 11 of 15 quarters(73%)
ActualEstimate

Revenue by segment

Beauty Health · $104M total across 2 segments · Q2 2022

  • Delivery Systems
    $64.8M+85.7%
  • Consumables
    $38.8M+22.8%

Forward guidance

BeautyHealth increased its fiscal 2022 net sales guidance to a range of $340.0 million to $350.0 million and reaffirmed its 2022 adjusted EBITDA outlook of approximately $50.0 million.

Tailwinds

  • Increased fiscal 2022 net sales guidance reflects management's confidence in the business.
  • Reaffirmation of 2022 adjusted EBITDA outlook indicates continued profitability expectations.
  • Guidance assumes no material deterioration in general market conditions.
  • Company continues to expect up to $20.0 million of capital expenditures to be incurred during 2022.
  • The increase reflects management's confidence in the business as the Company executes against its growth plan.

Headwinds

  • Achievement of anticipated results is subject to risks and uncertainties disclosed in SEC filings.
  • Outlook does not account for unanticipated developments, changes in operating environment, acquisitions, dispositions, or financings during 2022.
  • Company remains cautious of potential risks from COVID-19 strains and uneven global vaccine adoption.
  • Inflationary headwinds related to higher raw material, shipping, and labor costs are a concern.
  • Outlook assumes a largely reopened global market, which could be negatively impacted by closures or restrictive measures.

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 Q2 2022

Historical avgQ2 2022

+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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