Hydrafacial Investor Conference Presentation Deck
Reconciliation of Gross Profit to Adjusted Gross Profit
($mm)
Net sales
Less: cost of sales
Gross profit
Gross margin
Adjusted to exclude the following:
Stock-based compensation expense
Depreciation and amortization expense
Adjusted gross profit
Adjusted gross margin
Unaudited (in thousands)
Net loss
Adjusted to exclude the following:
Change in FV of warrant liability
Change in FV of earn-out shares liability
RECONCILIATION OF NON-GAAP MEASURES
Reconciliation of Net loss to Adjusted Net Income (Loss)
Amortization expense
Stock-based compensation expense
Other expense (income)
Management fees ¹
Transaction related costs²
Other non-recurring and one-time fees³
Aggregate adjustment for income taxes
Adjusted Net Income (Loss)
Year Ended December 31,
2020
$119.1
($51.9)
$67.2
56.4%
2021
$260.1
($78.3)
$181.8
69.9%
0.4
10.3
$192.5
74.0%
Year Ended December 31,
2021
($375.1)
277.3
47.1
13.3
12.4
4.5
0.2
34.9
4.0
(14.1)
$4.5
10.8
$78.0
65.5%
2020
($29.2)
2019
$166.6
($60.1)
$106.5
63.9%
11.3
$117.8
70.7%
Reconciliation of Net Loss to Adjusted EBITDA and Adjusted EBITDA Margin
27
($mm)
Net sales
Net income (loss)
Adjusted to exclude the following:
Change in fair value of warrant liability
Change in fair value of earn-out shares liability
Depreciation & amortization expense
Stock-based compensation expense
Interest expense
Income tax benefit
Foreign currency loss, net
Other expense (income)
Management fees
Transaction related costs²
Other non-recurring and one-time fees³
Adjusted EBITDA
Adjusted EBITDA margin
Year Ended December 31,
2020
$119.1
(29.2)
2021
$260.1
(375.1)
277.3
47.1
17.8
12.4
11.8
(2.2)
0.1
4.5
0.2
34.9
4.0
$32.7
12.6%
14.5
0.4
21.3
(9.3)
0.0
1.5
4.2
4.3
$7.7
6.5%
12.0
0.4
0.0
1.5
4.2
4.3
(5.4)
($12.1)
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, and to prepare HydraFacial to be marketed for sale by HydraFacial's shareholders in previous periods; 3 For 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 year ended December 31, 2020, such
costs primarily represent COVID-19 related restructuring cost of $3.2 million, including write-off of expired Consumables, discontinued product lines, human capital, cash management consultant fees, and, to a lesser extent, costs associated with a former warehouse and assembly facility during the transition period. For the year ended December 31, 2019, such
costs include approximately $4.0 million related to the move from a former warehouse and assembly facility to a new warehouse and assembly facility, approximately $1.4 million to defend certain patents that were being infringed upon, and personnel costs associated with the restructuring of HydraFacial's salesforce, partially offset by a legal settlement received
in favor of HydraFacial.
BEAUTYHEALTH
2019
$166.6
(1.6)
13.9
0.1
17.1
(1.3)
(0.2)
(0.5)
1.8
1.7
5.7
$36.7
22.0%View entire presentation