Beauty Health falls after dour Q2 sales forecast, Q1 sales drop

Skinhealth Systems

09/05/2024 22:41

** Shares of skin treatment device maker Beauty Health
 SKIN.O  down ~7% at $3.33 after the bell
    ** Co forecasts Q2 sales below LSEG estimates owing to lower
demand of equipment in Q1
    ** Expects Q2 sales between $96 mln and $102 mln vs
analysts' estimates of $107.2 mln
    ** Q1 sales drop 5.7% to $81.4 mln vs $86.3 mln last year;
beats analysts' estimates of $80.5 mln
    ** Posts quarterly gross margin of 59.4% vs 62.7%, due to
higher indirect product costs and inventory related charges
    ** Co sells 1,417 delivery systems during the quarter vs
1,774 delivery systems sold a year ago
    ** In 2023, stock fell nearly 66%   

 (Reporting by Anuja Bharat Mistry in Bengaluru)
 ((AnujaBharat.Mistry@thomsonreuters.com))