The Beauty Health Company has announced its first quarter 2023 results, which showed net sales were $86.3 million, a 14% increase as compared to the previous year.
Gross profit was $54.1 million, as compared to $50.9 million in the previous year.
Net loss was $22.3 million, as compared to $31.5 million in the previous year.
In Q1, The Beauty Health Company announced a definitive agreement to acquire SkinStylus, an FDA-cleared microneedling device.
Fiscal Year 2023 Outlook
Net sales for fiscal year 2023 are expected to be between $460-480 million, an increase from its previous outllook which was $450-470 million.
Andrew Stanleick, BeautyHealth president and CEO, said, "I am pleased with the growth we achieved in the first quarter and our strong momentum going into Q2. We see sustained consumer demand for Hydrafacial treatments across the globe and palpable excitement for the international launch of Syndeo. This demand, together with the investments made last year and favorable market trends, particularly in China, give us the confidence to raise our 2023 net sales target and reconfirm our 2023 adjusted EBITDA margin guidance and long-term 2025 targets.”
