The Beauty Health Company (NASDAQ:SKIN) Q3 2023 Earnings Call Transcript

The Beauty Health Company (NASDAQ:SKIN) Q3 2023 Earnings Call Transcript November 13, 2023

Operator: Good afternoon and welcome to The Beauty Health Company Third Quarter 2023 Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is being recorded. I would like now to turn the conference over to [Norberto Aja], Investor Relations. Please go ahead.

Unidentified Company Representative: Thank you, operator and good afternoon, everyone. Thank you for joining us today to discuss The Beauty Health Company's third quarter 2023 financial results, which were released this afternoon and can be found on our website at beautyhealth.com. With me today are Beauty Health's Board Member and incoming Interim Chief Executive Officer; Marla Beck and Chief Financial Officer, Mike Monahan. Today's call will not include a Q&A session, though management will be available afterwards for any follow-up questions you may have. Before we begin, I would like to remind you of the company's Safe Harbor language. Management may make forward-looking statements, including guidance and underlying assumptions.

A close-up of a woman's hands while applying a facial cleansing product.

Forward-looking statements that are based on expectations that involve risks and uncertainties that could cause actual results to differ materially. Listeners are cautioned not to place undue reliance on any forward-looking statements. For a further discussion of risks related to our business, please see our filings with the SEC. This call will present non-GAAP financial measures. A reconciliation of these non-GAAP measures to the most comparable GAAP measures can be found in our earnings press release filed with the SEC today and available on our website. With that, I would now like to turn the call over to Marla. Please go ahead. Thank you, Norberto, and thank you, everyone, for joining us on the call today. Before I start, on behalf of the Board, I would like to thank Andrew for his leadership and commitment to Beauty Health.

I look forward to partnering closely with him during this transition period. I'm excited to join Beauty Health as the Interim CEO. For those of you who do not know me, I've spent my entire career in the beauty and wellness space, notably as CEO of Bluemercury for 22 years. I founded Bluemercury in 1999 and built the company from zero to a strategic sale to Macy's in 2015, after which I ran Bluemercury as a division of Macy's for six years under both Terry Lundgren and Jeff Gennette. My focus has always been on building high-growth, profitable, enduring companies with an acute focus on the customer, high-performing teams, and operational excellence. I look forward to bringing this skill set to Beauty Health and working with the team to drive revenue, profit, and build an enduring company, while delivering long-term value to our shareholders.

I'm confident my experience will serve Beauty Health well in addressing current challenges, while delivering on the many opportunities ahead of us. Since joining the Board, it has become evident that Hydrafacial's ability to engage and attract consumers is differentiated with the anti-aesthetics place where consumers are more likely to know about generic treatments like fillers or laser rather than a specific treatment brand name. Regularly, providers report that their decision to buy a device is in part, because their clients ask for a Hydrafacial treatment by name. This represents a significant competitive advantage for Beauty Health. My focus is to protect Hydrafacial's incredible brand equity and to address provider experience challenges with Syndeo, Hydrafacial's newest-generation delivery system.

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