Hydrafacial Investor Day Presentation Deck
Reconciliation of net income to adjusted EBITDA
Unaudited ($mm)
Net revenue
Net income (loss)
Adjusted to exclude the following:
Change in FV of warrant liability
Change in FV of earn-out shares liability
Depreciation & amortization expense
Stock-based compensation expense
Other expense (income)
Management fees¹
Transaction related costs²
Dec-21
$260.1
($375.1)
277.3
47.1
17.8
12.4
4.5
0.2
34.9
4.0
(14.1)
11.8
0.1
11.8
$32.7
12.6%
Year ended
Dec-19
$166.6
($1.6)
13.9
0.1
(0.5)
1.8
1.7
5.7
Dec-18
$112.3
($0.3)
11.5
0.1
0.0
3.2
0.4
1.0
Other non-recurring and one-time fees³
Aggregate adjustment for income taxes
Interest expense
17.1
Foreign currency (gain) loss, net
(0.2)
Remaining benefit for income taxes
(1.3)
Adjusted EBITDA
$36.7
Adjusted EBITDA margin
22.0%
1. Represents quarterly management fees paid to the former majority shareholder of the Company based on a pre-determined formula. Following the Business Combination, these fees are no longer paid; 2. For the year ended December 31, 2021, such amounts primarily represent direct costs
incurred with the Business Combination, including $21.0 million paid to the former owner of HydraFacial; For the years ending December 31, 2019 and December 31, 2018, such amounts represent direct costs incurred to prepare the Company to be marketed for sale by the Company's
shareholders in previous periods; 3. For the year ended December 31, 2021, such costs primarily represent one-time retention awards related to the distributor acquisitions and executive recruiting and severance fees. For the years ended December 31, 2019 and December 31, 2018, such
costs primarily represent personnel costs associated with restructuring of HydraFacial's salesforce and costs associated with former warehouse and assembly facility during the transition period, to defend certain patents that were being infringed upon and a 2019 relocation to a new
assembly and warehouse facility that was completed during December 2019.
146
BEAUTYHEALTH™
10.0
(0.0)
0.3
$26.2
23.3%View entire presentation