Hydrafacial Investor Day Presentation Deck
Reconciliation of net income to adjusted EBITDA
Unaudited ($mm)
Net revenue
Net income (loss)
Adjusted to exclude the following:
Change in FV of warrant liability
Change in FV of earn-out shares liability
Amortization expense
Stock-based compensation expense
Other expense
Management fees¹
Transaction related costs²
Other non-recurring and one-time fees³
Aggregate adjustment for income taxes
Adjusted net income (loss)
Depreciation expense
Jun-22
$103.5
Interest expense
Foreign currency (gain) loss, net
Remaining benefit for income taxes
Adjusted EBITDA
$7.9
(15.2)
3.9
6.4
(1.7)
Mar-22
$75.4
2.0
1.9
(3.1)
$2.2
1.9
3.2
2.2
3.2
$12.6
12.2%
$32.5
72.0
36.5
3.0
3.0
3.5
0.0
4.3
0.0
0.1
0.1
2.6
1.2
30.4
0.7
3.3
0.5
0.1
0.1
(0.8)
(2.4)
(2.7)
(0.8)
$1.6
$2.5
$7.8
($0.1)
2.0
2.4
0.7
0.7
3.5
0.5
2.1
5.7
(0.6)
0.4
(0.0)
0.3
2.0
(0.1)
0.8
0.5
$5.8
$11.4
$7.0
$8.5
10.9%
8.5%
17.1%
14.8%
Adjusted EBITDA margin
1. Represents quarterly management fees paid to the former majority shareholder of the Company based on a pre-determined formula. Following the Business Combination, these fees are no longer paid; 2. For the six months ended June 30, 2022, such amounts primarily represent direct
costs incurred in relation to potential acquisitions. For the year ended December 31, 2021, such amounts primarily represent 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 six months ended June 30, 2022, such costs include the re-organization severance, other one-time personnel costs related to executive recruiting, executive severance, a one-time loss on fixed asset write-offs and a CEO sign-on
bonus. For the year ended December 31, 2021, such costs primarily represent one-time retention awards related to the distributor acquisitions and executive recruiting and severance fees.
145
BEAUTYHEALTH™
(52.1)
3.7
7.0
0.9
Three months ended
Dec-21
$77.9
($17.3)
1.0
2.0
(3.6)
($8.5)
1.4
3.4
(0.4)
6.2
$2.2
2.9%
6.0
3.9
3.8
0.2
Sep-21
$68.1
($215.1)
I
199.3
10.6
3.5
5.1
(0.0)
Jun-21
$66.5
($139.4)
I
Mar-21
$47.5
($3.3)
I
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