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The Beauty Health Company (SKIN-4.29%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing reports total net sales of $334.3 million, a decrease from $398.0 million in the previous year. The decline in sales is attributed to a reduction in Delivery Systems sales, which dropped by 39.3% to $125.4 million.
Consumables sales increased by 9.2% to $208.9 million, reflecting increased placements of Delivery Systems and adjoining consumption of Consumables.
Cost of sales decreased by 37.4% to $152.0 million, primarily due to the absence of charges and inventory write-downs associated with the Syndeo Program in the previous year.
Operating expenses decreased to $250.1 million from $286.0 million, driven by lower selling and marketing expenses, which decreased by 18.1%, and a 37.7% decrease in research and development expenses.
The company reported a net loss of $29.1 million for the year, compared to a net loss of $100.1 million in the previous year.
The Beauty Health Company repurchased $192.3 million principal amount of its convertible senior notes during the year.
As of December 31, 2024, the company had cash, cash equivalents, and restricted cash of $370.1 million.
The company continues to monitor economic and geopolitical conditions that may impact its business, including potential disruptions in transportation and supply chain constraints.
The Beauty Health Company plans to transition its sales in the China market to a distributor model during the second quarter of 2025.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the The Beauty Health Company annual 10-K report dated March 12, 2025. To report an error, please email earnings@qz.com.