BeautyHealth Has Big Plans

·2 min read

Just a little older than one year, newly listed public company BeautyHealth, best known for its HydraFacial that sucks gunk out of pores, held its first investor day in New York – and it had some new financial goals to share.

President and chief executive officer Andrew Stanleick, who previously oversaw Kylie Jenner and Kim Kardashian’s beauty businesses at Coty Inc., has lofty ambitions to double net sales by 2025, to the range of $600 million and $700 million. At the same time, he wants to at least triple adjusted earnings before interest, taxes, depreciation and amortization.

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“BeautyHealth is a category creator, building the ultimate beauty regimen for skin health and personal confidence,” he said. “Our market opportunity is massive across geographies and categories and largely unpenetrated. Our new three-year growth and profitability goals reflect our confidence and ability to capitalize for the future. With an exceptional management team in place, we are just getting started.”

BeautyHealth went public through a SPAC in May 2021. It reported record net sales of $103.5 million in the three months ended June 30, up from $66.5 million in the same period a year earlier.

Net income was $7.9 million, compared with a net loss of $139.4 million a year earlier. On an adjusted basis, income was $2.2 million, down from $7.8 million in 2021.

“We are setting thoughtful 2025 financial targets from a position of financial strength, supported by strong ongoing performance of six quarters of beating and raising as well as achieving recent record net sales,” added BeautyHealth chief financial officer Liyuan Woo. “Following two years of heightened investment and scaling, we are shifting our focus to achieving heightened levels of profitability on our growth journey.”

As part of its growth strategy, the company plans to expand across all channels and geographies, projecting Europe, Middle East and Africa (EMEA) and Asia-Pacific (APAC) businesses will overtake the Americas by 2025.

It recently made its retail debut in Paris when it entered the new wellness floor at Galeries Lafayette Haussmann, partnering with the department store’s aesthetic clinic provider Innerskin to have a spot on the retailer’s mega-wellness floor called La Wellness Galerie. It spans more than 30,000 square feet with an offering covering wellness, beauty, self-care, energy and sport.

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