Welcome to our dedicated page for Skinhealth Systems news (Ticker: SKIN), a resource for investors and traders seeking the latest updates and insights on Skinhealth Systems stock.
SkinHealth Systems Inc. reports developments tied to its global medical aesthetics business, with recurring updates on financial results, margin performance, adjusted EBITDA, installed-base activity and its recurring consumables model. The company, formerly The Beauty Health Company, trades on the Nasdaq Capital Market under the symbol SKIN.
Company news also covers the Hydrafacial platform, SkinStylus microneedling and nano-channeling treatments, HydraScalp with Keravive, provider adoption, consumer skin-health research, board appointments and the completed corporate rebrand to SkinHealth Systems.
The Beauty Health Company (NASDAQ: SKIN) announced the acquisition of four international distributors for HydraFacial, costing approximately $35 million—$28 million in cash and $7 million in stock. This move is expected to enhance their market presence in Germany, Australia, France, and Mexico. The transactions are projected to be accretive to earnings and are in line with their 2021 growth outlook. CEO Clint Carnell emphasized the benefits of direct management relationships with distributors, aiming for increased brand engagement and consumer experiences.
HydraFacial, a BeautyHealth company (NASDAQ:SKIN), initiated the #GLOWvolution tour, a four-month coast-to-coast event that began June 4-7 in Miami, Florida. This tour aims to offer complimentary HydraFacial treatments, connecting with consumers in major markets like Atlanta, Austin, and San Francisco. The tour features a fully branded mobile spa with 13 treatment chairs, providing an engaging experience and introducing new customers to HydraFacial's benefits. CEO Clint Carnell emphasized the tour's goal to empower and inspire consumers while expanding awareness of the brand.
The Beauty Health Company (NASDAQ:SKIN) has announced the participation of its senior management in two upcoming virtual investor conferences. The Goldman Sachs Annual Global Healthcare Conference will take place on June 10, 2021, at 3:00 p.m. ET, and the Jefferies Virtual Consumer Conference is set for June 22, 2021, at 4:25 p.m. ET. Interested parties can access a webcast of the presentations on the investor relations section of the BeautyHealth website, with an archived replay available afterward.
The Beauty Health Company (NASDAQ: SKIN) announced it received a notice from Nasdaq due to failure to timely file its Quarterly Report for the period ended March 31, 2021. Despite this, SKIN will continue trading on the Nasdaq Capital Market. The company plans to restate its financial statements following SEC guidance, impacting its previously classified warrants. Beauty Health now has 60 days to submit a compliance plan to Nasdaq, which could extend their compliance period by up to 180 days. The company's business combination with HydraFacial was completed, marking its shift to a beauty health brand.
The Beauty Health Company (NASDAQ: SKIN) reported first quarter 2021 results for HydraFacial, showing strong growth. Net sales reached $47.5 million, up 46% year-over-year, driven by a rise in delivery system sales to $25.6 million and consumables sales of $21.9 million. Gross margin improved to 66.8%, while operating income was $2.4 million compared to a loss of $7.3 million in Q1 2020. However, the company still posted a net loss of $3.3 million, though this was an improvement from $9.1 million in the same quarter last year.
The Beauty Health Company (NASDAQ:SKIN) announced it will report its Q1 fiscal 2021 financial results for HydraFacial after market close on May 13, 2021. A conference call will follow at 4:30 p.m. ET to discuss these results. Interested participants can dial in 10 minutes prior to the start. A recorded replay will be accessible within three hours post-call for 90 days. BeautyHealth focuses on innovative beauty products, with HydraFacial being a leading non-invasive skin care solution available in over 87 countries, boasting more than 16,000 delivery systems worldwide.
Vesper Healthcare Acquisition Corp and The HydraFacial Company have completed their business combination, forming The Beauty Health Company, now trading under the ticker SKIN on Nasdaq. Approximately 96% of Vesper’s stockholders approved the transaction. HydraFacial becomes a wholly owned subsidiary of BeautyHealth, led by its existing management team. This merger aims to capitalize on growth opportunities in the beauty health market, leveraging an enhanced capital structure to innovate and expand internationally. The deal is expected to facilitate investments in strategic acquisitions and product development.