BeautyHealth leaps on upbeat 2023 sales outlook

Skinhealth Systems

28/02/2023 15:05

** Shares of Beauty Health Co  SKIN.O , which makes HydraFacial skin
treatment devices, up more than 10% at $12.50 in early trading
    ** SKIN forecasts annual sales above Wall Street estimates after topping
expectations for Q4 revenue on strong demand for its products
    ** Sees net sales between $450 mln and $470 mln for fiscal 2023, vs
estimates of $439.6 mln, per Refinitiv data
    ** Q4 sales jump ~26% to $98.1 mln, driven by strong performance in the
Americas and the Asia Pacific region
    ** Separately, SKIN says it would acquire FDA-cleared microneedling device
SkinStylus to build its portfolio, adding device is highly complementary to
SKIN's Hydrafacial treatment 
    ** SKIN also to seek FDA clearance for additional indications and regulatory
approvals in other markets outside of the U.S. for SkinStylus 
    ** As of last close, SKIN shares up ~24% YTD 

 (Reporting by Deborah Sophia in Bengaluru)
 ((DeborahMary.Sophia@thomsonreuters.com))