Hydrafacial Results Presentation Deck
Reconciliation of net income to adjusted EBITDA
($mm)
Net sales
Net income (loss)
Adjusted to exclude the following:
Change in FV of warrant liability
Change in FV of earn-out shares liability
Amortization expense
Gain loss on disposal of assets
Stock-based compensation expense
Other expense (income)
Management fees'
Transaction related costs²
Other non-recurring and one-time fees³
Aggregate adjustment for income taxes
Adjusted net income (loss)
epreciation expense
Three months ended September 30,
2021
$68.1
($215.1)
35
2022
$88.8
$0.1
(4.3)
3.9
4.7
7.4
(2.5)
2.6
(4.0)
$8.0
2.0
3.4
(0.0)
3.2
199.3
10.6
3.5
$16.5
18.6%
5.1
(0.0)
1.2
0.5
(2.4)
$2.5
1.0
0.5
0.4
1.3
$5.8
Year ended
12/31/21
$260.1
($375.1)
8.5%
277.3
47.1
13.3
Interest expense
Foreign currency (gain) loss, net
Remaining benefit for income taxes
Adjusted EBITDA
Adjusted EBITDA margin
Note: Figures may not foot due to rounding; Periods for the three months ended September 30, 2022 and September 30, 2021 are unaudited.
1. Represents quarterly management fees paid to the majority shareholder of HydraFacial based on a pre-determined formula. Following the Business Combination, these fees are no longer paid.
2. For the three months ended September 30, 2021, such amount primarily represent direct costs incurred in relation to potential acquisitions. For the year ended December 31, 2021 such amount primarily represents direct costs incurred with the Business Combination,
including $21.0 million paid to the former owner of HydraFacial, and to prepare HydraFacial to be marketed for sale by HydraFacial's shareholders in previous periods.
3. For the three months ended September 30, 2022, such costs primarily represent a write-off related to the discontinued Glow & Go pilot program. For the three months ended September 30, 2021, such costs primarily represent one-time retention awards related to the
distributor acquisitions. For the year ended December 31, 2021, such costs primarily represent recruiting fees for executive officers, severance and one-time retention awards related to the distributor acquisitions.
12.4
4.5
0.2
34.9
4.0
(14.1)
$4.5
4.5
11.8
0.1
11.8
$32.7
12.6%
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