NASDAQ$SKIN

SkinHealth Systems Inc · Q4 2021 earnings

Q4 2021 earnings · · Investor relations

Briefing

Reported record fourth quarter and fiscal year 2021 financial results.

The Beauty Health Company reported strong Q4 2021 results with net sales increasing 105.6% compared to Q4 2020, driven by growth in the U.S., EMEA, and APAC regions. The company exceeded its guidance for the quarter and full year, navigating macro challenges and COVID-19 impacts.

  • Net sales increased 105.6% compared to Q4 2020, reaching $77.9 million.
  • Delivery Systems net sales increased to $42.7 million, with over 1,800 systems sold during the quarter.
  • Consumables net sales increased to $35.2 million compared to the same period last year.
  • Adjusted EBITDA increased to $8.5 million compared to $3.6 million in Q4 2020.

Headline financials

Total Revenue

$77.9M

Previous: $37.9M+105.6%
EPS (adj)

-$0.12

Previous: -$0.21+42.9%
Gross Margin

72.9%

Previous: 60.8%+19.9%
Adjusted EBITDA

$8.5M

Previous: $3.6M+136.1%
Adjusted EBITDA Margin

10.9%

Previous: 9.4%+16.0%
Adjusted Gross Margin

76.5%

Previous: 67.8%+12.8%
Capital Expenditures

$6.34M

Previous: $912K+595.6%
Free Cash Flow

-$3.07M

Previous: -$1.32M-131.7%
Net Income

-$17.3M

Previous: -$7.49M-131.0%
Operating Income

-$7.21M

Previous: -$4.71M-53.1%
Gross Profit

$56.8M

Previous: $23M+146.4%
Cash & Equivalents

$902M

Previous: $9.49M+9407.5%
Total Assets

$1.22B

Previous: $223M+447.0%
Stock-Based Comp

$3.79M

Previous: $37K+10154.1%

Revenue & EPS history

Beauty Health · Revenue · Quarterly

$77.9M

Q4 2021+105.6%vs Q4 2020
Beat estimate in 6 of 10 quarters(60%)
ActualEstimate

Revenue by segment

Beauty Health · $77.9M total across 2 segments · Q4 2021

  • Delivery Systems
    $42.7M+145.4%
  • Consumables
    $35.2M+71.7%

Forward guidance

BeautyHealth is providing a fiscal 2022 net sales guidance range of $320.0 million to $330.0 million and adjusted EBITDA of approximately $50.0 million.

Tailwinds

  • Momentum in health and wellness
  • Management's confidence in the business as the Company executes against its growth plan
  • Launch in the first half of 2022 of Syndeo, the next generation HydraFacial Delivery System
  • Wi-Fi-enabled radio frequency identification that will allow us to build a connected platform
  • Better understand consumer and provider behavior

Headwinds

  • No material deterioration in general market conditions or other factors related to COVID-19 trends
  • Potential risk for further market closures or other restrictive measures from existing or new COVID-19 strains
  • Uneven global rollout and adoption of vaccines
  • Inflationary headwinds related to higher raw material, shipping and labor costs
  • Assumes a largely reopened global market, which would be negatively impacted if closures or other restrictive measures persist or are reimplemented

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 Q4 2021

Historical avgQ4 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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