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We are a global performance beauty company delivering breakthrough products with a customer-centric approach. Our primary market is the cash-pay aesthetic market, which consists of medical products that consumers pay for directly out of pocket.
The business is unprofitable at the operating level (-10.99% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue grew 11.6%, still solid.
Negative free cash flow of -$46M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$302M
▲ +11.6% YoY
Net Income (TTM)
-$43M
▼ -2.4% YoY
Op. Margin
-8.06%
▲ +1.9pp YoY
ROIC
-12.21%
▲ +3.0pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$40M
▼ -134.7% YoY
Op. Cash Flow (TTM)
-$37M
▼ -134.8% YoY
Net Debt
$115M
Cash & Equiv.
$50M
5Y CAGR: +39.4%
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