SkinHealth Systems Inc. SKIN
The Beauty Health Company (the "Company" or "we") is a global medical aesthetics company delivering an integrated ecosystem of clinically proven solutions designed to help consumers achieve superior skin health and support the success of providers. Anchored by Hydrafacial, a leading and widely requested professional skincare treatment, and supported by complementary offerings including SkinStylus microneedling and HydraScalp powered by Keravive, the Company combines advanced device technology, proprietary consumables, and clinical validation to deliver trusted treatment experiences through an omnichannel network of providers worldwide.
Hydrafacial is our flagship brand and cornerstone of our portfolio.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $300.8M | $334.3M | $398.0M | $365.9M | $260.1M | $119.1M | $166.6M | — |
| Cost of revenue | $104.4M | $152.0M | $242.9M | $117.1M | $81.5M | $51.9M | $60.1M | — |
| Gross profit | $196.4M | $182.3M | $155.1M | $248.8M | $178.5M | $67.2M | $106.5M | — |
| R&D | $5.6M | $6.3M | $10.1M | $8.4M | $8.2M | $3.4M | $4.6M | — |
| SG&A | $117.9M | $125.5M | $131.4M | $106.1M | $98.7M | $30.6M | $26.7M | — |
| Total operating expenses | $217.2M | $250.1M | $286.0M | $274.6M | $218.5M | $84.4M | $93.0M | — |
| Operating income | -$20.8M | -$67.8M | -$130.9M | -$25.8M | -$39.9M | -$17.2M | $13.5M | — |
| Interest expense | $19.3M | $10.4M | $13.6M | $13.4M | $11.8M | — | — | — |
| Pre-tax income | -$5.9M | -$29.6M | -$101.9M | $45.3M | -$380.6M | -$38.5M | -$2.9M | — |
| Income tax | $3.6M | $452.0K | $1.8M | $1.1M | $1.9M | $9.3M | $1.3M | — |
| Net income | -$9.5M | -$29.1M | -$100.1M | $44.2M | $378.7M | -$29.2M | -$1.6M | — |
| EPS, basic | -0.08 | -0.23 | -0.76 | 0.30 | -3.71 | -0.85 | -0.05 | — |
| EPS, diluted | -0.16 | -0.36 | -0.76 | -0.23 | -3.71 | -0.85 | -0.05 | — |
| Shares, diluted (wtd. avg.) | $135.8M | $142.5M | $131.7M | $148.5M | $102.1M | $34.3M | $32.1M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $232.7M | $370.1M | $523.0M | $568.2M | $901.9M | $9.5M | $7.3M | $3.6M |
| Receivables | $21.7M | $27.6M | $54.7M | $76.5M | $46.8M | $18.6M | — | — |
| Inventory | $48.0M | $69.1M | $91.3M | $109.7M | $35.3M | $23.2M | — | — |
| Total current assets | $309.5M | $477.1M | $698.3M | $783.3M | $1.00B | $59.1M | — | — |
| Property, plant and equipment | — | — | — | — | — | $9.2M | — | — |
| Goodwill | $126.6M | $123.5M | $125.8M | $124.6M | $123.7M | $98.5M | $98.5M | $98.1M |
| Other intangibles | $35.8M | $47.5M | $62.1M | $46.4M | $56.0M | $50.9M | — | — |
| Total assets | $499.8M | $685.7M | $929.1M | $1.00B | $1.22B | $222.8M | — | — |
| Accounts payable | $15.6M | $21.9M | $44.8M | $28.5M | $29.0M | $18.5M | — | — |
| Total current liabilities | $186.3M | $68.2M | $115.0M | $71.7M | $76.4M | $30.9M | — | — |
| Total liabilities | $438.7M | $633.9M | $869.7M | $836.0M | $916.5M | $252.8M | — | — |
| Retained earnings | -$517.5M | -$508.0M | -$478.9M | -$378.8M | -$418.7M | -$43.6M | — | — |
| Total equity | $61.1M | $51.8M | $59.4M | $167.1M | $298.0M | -$30.6M | -$1.2M | $294.0K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $37.5M | $16.1M | $21.8M | -$106.6M | -$28.4M | -$12.4M | $1.7M | — |
| Depreciation and amortisation | $3.8M | $9.9M | $11.3M | $7.2M | $4.5M | $2.6M | $1.4M | — |
| Stock-based compensation | $14.8M | $26.7M | $22.5M | $28.5M | $12.4M | $363.0K | $103.0K | — |
| Capital expenditure | $303.0K | $756.0K | $3.8M | $10.8M | $11.2M | $3.5M | $8.8M | — |
| Investing cash flow | -$5.2M | -$6.8M | -$31.5M | -$18.9M | -$37.7M | -$3.8M | -$12.5M | — |
| Financing cash flow | -$174.9M | -$158.3M | -$37.4M | -$205.2M | $959.0M | $18.3M | $14.6M | — |
| Buybacks | $0 | $0 | $30.2M | $160.0M | $0 | $154.0K | $0 | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001683168-26-003189.
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