Hydrafacial Results Presentation Deck
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
Reconciliation of net income (loss) to adjusted net
income (loss) and adjusted EBITDA
Reconciliation of gross margin to adjusted gross margin
Unaudited ($mm)
Net sales
Cost of sales
Gross profit (GAAP)
Gross margin (GAAP)
Adjusted to exclude the following:
Stock-based compensation expense included in cost of sales
Depreciation and amortization expense included in cost of sales
Adjusted gross profit
Adjusted gross margin
Three months ended June 30,
2021
$66.5
2022
$103.5
31.9
$71.7
69.2%
19.3
$47.3
71.0%
0.2
3.0
$74.8
72.3%
2.6
$49.8
74.9%
23
Unaudited ($mm)
Net sales
Net income (loss)
Adjusted to exclude the following:
Change in FV of warrant liability
Change in FV of earn-out shares liability
Amortization expense
Stock-based compensation expense
Other expense
Management fees¹
Transaction related costs²
Other non-recurring and one-time fees³
Aggregate adjustment for income taxes
Adjusted net income (loss)
Depreciation expense
Interest expense
Foreign currency (gain) loss, net
Remaining benefit for income taxes
Adjusted EBITDA
Adjusted EBITDA margin
Three months ended June 30,
2022
2021
$103.5
$66.5
($139.4)
$7.9
(15.2)
3.9
6.4
(1.7)
2.0
1.9
(3.1)
$2.2
1.9
3.2
2.2
3.2
$12.6
12.2%
72.0
36.5
3.0
3.5
4.3
0.1
30.4
0.1
(2.7)
$7.8
0.7
2.1
(0.0)
0.8
$11.4
17.1%
Year ended
Dec-21
$260.1
($375.1)
277.3
47.1
13.3
12.4
4.5
0.2
34.9
4.0
(14.1)
$4.5
4.5
11.8
0.1
11.8
$32.7
12.6%
Represents quarterly management fees paid to the majority shareholder of HydraFacial based on a pre-determined formula.
Following the Business Combination, these fees are no longer paid
2 For the three months ended June 30, 2022, such amounts primarily represent direct costs incurred in relation to potential
acquisitions. For the three months ended June 30, 2021 and 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 the three months ended June 30, 2022, such costs primarily represent one-time severance costs due to a Company re-
organization; 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
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