The Beauty Health Company SKIN shares are trading lower in Monday's after-hours session after reporting worse-than-expected third-quarter financial results and revised guidance.
What To Know: Beauty Health reported quarterly losses of 56 cents per share, well below The Street's expectations of nine cents earnings, a decrease over earnings of five cents per share from the same period last year.
The company reported quarterly sales of $97.40 million, missing the analyst consensus estimate of $116.30 million, a 9.69% increase over sales of $88.79 million in the same period last year.
The company sold 2,140 delivery systems during the quarter, compared to 1,860 in the same quarter last year, mainly due to robust placements across APAC and EMEA.
Net sales for delivery systems clocked in at $51 million, an increase of 3.72% compared to net sales of $49.1 million in the same quarter in 2022.
Beauty Health revised its net sales outlook to between $385 million and $400 million versus the $462.77 million estimate. Also, the company suspended its long-term full-year 2025 forecast.
"We are focused on protecting Hydrafacial's strong brand equity as we address the Syndeo provider experience challenges," said Beauty Health CFO Michael Monahan.
"We are confident that, with our strategy, we will return Hydrafacial to the reliable standard that our customers have come to expect from us and keep their trust—and, with this, re-accelerate Syndeo adoption in the U.S."
Beauty Health also announced that Andrew Stanleick will step down from his position as President and CEO and relinquish his Board seat, effective Nov. 19. Marla Beck, who currently serves as BeautyHealth Director, will serve as Interim CEO during the company's formal search for a new CEO.
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SKIN Price Action: Shares of SKIN were down 41.40% at $2.29 in the after-hours session at the time of publication, according to Benzinga Pro.
Image by Aesthetic Journey from Pixabay
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