Exhibit 99.1
HydraFacial Announces Record First Quarter Fiscal 2021 Preliminary Net Sales
First Quarter 2021 Preliminary Financial Highlights:
| • | | Q1 net sales of $47 million compared to $33 million in Q1 2020 and $35 million in Q1 2019 |
| • | | Q1 net sales in the Americas region of $31 million, or 66% of total net sales, compared to $24 million in Q1 2020 and $27 million in Q1 2019 |
| • | | Q1 net sales in the EMEA and APAC regions of $16 million, or 34% of total sales, compared to $9 million in Q1 2020 and $8 million in Q1 2019 |
Miami Beach, Florida, and Long Beach, California, April 21, 2021 — The HydraFacial® Company (“HydraFacial,” or the “Company”), an experiential category-creating beauty health company, today announced preliminary net sales for the quarter ended March 31, 2021. The Company has not yet completed the quarter-end review and expects to report full results for the first quarter of 2021 at a future date. The previously announced business combination with Vesper Healthcare Acquisition Corp. (“Vesper Healthcare”) (NASDAQ: VSPR) is expected to be completed in the first half of 2021. Upon completion of the transaction, Vesper Healthcare expects to rebrand as The Beauty Health Company, and list on the Nasdaq Capital Market under the ticker symbol “SKIN”.
Clint Carnell, HydraFacial’s CEO, stated: “We delivered record first quarter sales illustrating the appeal of our brand and continued strong demand during the Zoom boom era, even with many of our global markets closed for portions of the first quarter due to COVID-19 restrictions. Our growth reflects the strength of our brand, the diversification of our channel mix, the significant growth across all regions especially in the Asia-Pacific region, the recurring revenue streams in consumables, as well as the favorable demographic trends in the category of beauty health. During the quarter, we continued to build upon our retail partnerships, including expanding our relationship with Sephora and a new partnership with Clinique. Our pending merger with Vesper Healthcare is expected to provide us with the resources and capital to continue to grow our footprint in the rapidly expanding beauty health category, both domestically and internationally.”
Brent Saunders, CEO and Co-Founder of Vesper Healthcare, commented: “I am pleased with the continued strength of the business in the first quarter despite the challenges presented by the COVID-19 pandemic. The impressive performance this quarter further reinforces our confidence in the long-term opportunities for HydraFacial, in addition to serving as the ideal platform for building a premier beauty health company.”
On December 8th, 2020, HydraFacial and Vesper Healthcare, a special purpose acquisition company co-founded by Brent Saunders, former CEO and Chairman of Allergan plc, Forest Laboratories Inc., and Bausch + Lomb Incorporated, announced that they had entered into a definitive merger agreement pursuant to which HydraFacial will become a wholly owned subsidiary of Vesper Healthcare. HydraFacial is owned by Linden Capital Partners and DW Healthcare Partners, both of which are private equity firms focused exclusively on the healthcare industry.
Cautionary Statement Regarding Preliminary Results
The Company’s results for the fiscal quarter ended March 31, 2021 are preliminary, unaudited and subject to the finalization and closing of the Company’s first quarter review and should not be viewed as a substitute for full quarter financial statements prepared in accordance with U.S. GAAP. In addition, these preliminary results are not a comprehensive statement of the Company’s financial results for the quarter ended March 31, 2021. The Company cautions you that these preliminary results are not guarantees of future performance or outcomes, and that actual results may differ materially from these described above.
About The HydraFacial Company
The HydraFacial Company is an experiential, non-invasive, and approachable beauty health platform and ecosystem with a powerful community of estheticians, consumers and partners, bridging medical and consumer retail to democratize and personalize skin care solutions for the masses. Leading the charge in beauty health as a category-creator, HydraFacial uses a unique delivery system to cleanse, extract, and hydrate with their patented hydradermabrasion technology and super serums that are made with nourishing ingredients, providing an