The Beauty Health Company (SKIN) 10-Q 8 Aug 24 2024 Q2 Quarterly report Financial data

Cover

Cover - shares	6 Months Ended
	Jun. 30, 2024	Aug. 06, 2024
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-39565
Entity Registrant Name	The Beauty Health Company
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-1908962
Entity Address, Address Line One	2165 Spring Street
Entity Address, City or Town	Long Beach
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90806
City Area Code	800
Local Phone Number	603-4996
Title of 12(b) Security	Class A Common Stock, par value $0.0001 per share
Trading Symbol	SKIN
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		124,020,249
Document Fiscal Year Focus	2024
Document Fiscal Period Focus	Q2
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Central Index Key	0001818093

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash, cash equivalents, and restricted cash	$ 349,544	$ 523,025
Accounts receivable, net of allowances for estimated credit losses of $8,257 and $6,604 at June 30, 2024 and December 31, 2023, respectively	41,409	54,697
Inventories	77,143	91,321
Income tax receivable	401	332
Prepaid expenses and other current assets	21,129	28,877
Total current assets	489,626	698,252
Property and equipment, net	9,718	14,226
Right-of-use assets, net	14,942	12,120
Intangible assets, net	54,161	62,123
Goodwill	124,822	125,818
Deferred income tax assets, net	3,035	531
Other assets	15,529	16,043
TOTAL ASSETS	711,833	929,113
Current liabilities:
Accounts payable	26,686	44,768
Accrued payroll-related expenses	17,146	22,028
Lease liabilities, current	4,278	4,598
Income tax payable	2,360	2,759
Syndeo Program reserves	912	21,009
Other accrued expenses	24,044	19,846
Total current liabilities	75,426	115,008
Lease liabilities, non-current	12,704	9,319
Deferred income tax liabilities, net	1,064	702
Warrant liabilities	976	3,555
Convertible senior notes, net	550,625	738,372
Other long-term liabilities	1,849	2,767
Total liabilities	642,644	869,723
Commitments (Note 10)
Stockholders’ equity:
Class A Common Stock, $0.0001 par value; 320,000,000 shares authorized; 123,993,785 and 122,899,002 shares issued and outstanding at June 30, 2024 and December 31, 2023, respectively	12	12
Additional paid-in capital	553,420	541,281
Accumulated other comprehensive loss	(4,899)	(3,036)
Accumulated deficit	(479,344)	(478,867)
Total stockholders’ equity	69,189	59,390
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	$ 711,833	$ 929,113

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Statement of Financial Position [Abstract]
Allowances for doubtful accounts	$ 8,257	$ 6,604
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized (in shares)	320,000,000	320,000,000
Common stock, shares issued (in shares)	123,993,785	122,899,002
Common stock, shares outstanding (in shares)	123,993,785	122,899,002

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Statement [Abstract]
Net sales	$ 90,594	$ 117,479	$ 171,997	$ 203,757
Cost of sales	49,654	49,603	82,696	81,777
Gross profit	40,940	67,876	89,301	121,980
Operating expenses:
Selling and marketing	30,482	43,041	64,166	81,740
Research and development	1,159	2,881	3,966	5,217
General and administrative	31,410	35,100	60,271	65,479
Total operating expenses	63,051	81,022	128,403	152,436
Loss from operations	(22,111)	(13,146)	(39,102)	(30,456)
Interest expense	2,452	3,429	5,481	6,846
Interest income	(4,194)	(5,717)	(9,550)	(10,032)
Other income, net	(17,319)	(47)	(33,406)	(465)
Change in fair value of warrant liabilities	(4,043)	(11,585)	(2,579)	(2,509)
Foreign currency transaction loss (gain), net	1,144	(397)	2,441	(1,546)
(Loss) income before provision for income taxes	(151)	1,171	(1,489)	(22,750)
Income tax benefit	(353)	(2,193)	(1,012)	(5,855)
Net income (loss)	202	3,364	(477)	(16,895)
Comprehensive income (loss), net of tax:
Foreign currency translation adjustments	(816)	(367)	(1,863)	521
Comprehensive (loss) income	$ (614)	$ 2,997	$ (2,340)	$ (16,374)
Net income (loss) per share
Basic (in dollars per share)	$ 0	$ 0.03	$ 0	$ (0.13)
Diluted (in dollars per share)	$ (0.10)	$ 0.03	$ (0.20)	$ (0.13)
Weighted average common shares outstanding
Basic (in shares)	123,718,797	132,716,024	123,417,353	132,569,209
Diluted (in shares)	141,927,750	132,716,024	143,200,221	132,569,209

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (DEFICIT) - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	Accumulated Deficit
Beginning balance (in shares) at Dec. 31, 2022		132,214,695
Beginning balance at Dec. 31, 2022	$ 167,053	$ 14	$ 550,320	$ (4,530)	$ (378,751)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(20,259)				(20,259)
Issuance of Common Stock pursuant to equity compensation plan (in shares)		473,049
Shares withheld for tax withholdings on vested stock awards (in shares)		(170,415)
Shares withheld for tax withholdings on vested stock awards	(2,195)		(2,195)
Issuance of Common Stock relating to employee stock purchase plan	2,034		2,034
Share-based compensation	3,577		3,577
Common Stock relating to asset acquisition (in shares)		109,625
Issuance of Class A Common Stock in connection with asset acquisition	1,310		1,310
Foreign currency translation adjustments	888			888
Ending balance (in shares) at Mar. 31, 2023		132,626,954
Ending balance at Mar. 31, 2023	152,408	$ 14	555,046	(3,642)	(399,010)
Beginning balance (in shares) at Dec. 31, 2022		132,214,695
Beginning balance at Dec. 31, 2022	167,053	$ 14	550,320	(4,530)	(378,751)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(16,895)
Foreign currency translation adjustments	521
Ending balance (in shares) at Jun. 30, 2023		132,881,417
Ending balance at Jun. 30, 2023	161,842	$ 14	561,483	(4,009)	(395,646)
Beginning balance (in shares) at Mar. 31, 2023		132,626,954
Beginning balance at Mar. 31, 2023	152,408	$ 14	555,046	(3,642)	(399,010)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	3,364				3,364
Issuance of Common Stock pursuant to equity compensation plan (in shares)		254,742
Shares withheld for tax withholdings on vested stock awards (in shares)		(83,234)
Shares withheld for tax withholdings on vested stock awards	(545)		(545)
Issuance of Common Stock relating to employee stock purchase plan (in shares)		82,955
Issuance of Common Stock relating to employee stock purchase plan	698		698
Share-based compensation	8,524		8,524
Accelerated share repurchase payment	(2,240)		(2,240)
Foreign currency translation adjustments	(367)			(367)
Ending balance (in shares) at Jun. 30, 2023		132,881,417
Ending balance at Jun. 30, 2023	$ 161,842	$ 14	561,483	(4,009)	(395,646)
Beginning balance (in shares) at Dec. 31, 2023	122,899,002	122,899,002
Beginning balance at Dec. 31, 2023	$ 59,390	$ 12	541,281	(3,036)	(478,867)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(679)				(679)
Issuance of Common Stock pursuant to equity compensation plan (in shares)		843,950
Shares withheld for tax withholdings on vested stock awards (in shares)		(289,533)
Shares withheld for tax withholdings on vested stock awards	(1,005)		(1,005)
Share-based compensation	6,636		6,636
Foreign currency translation adjustments	(1,047)			(1,047)
Ending balance (in shares) at Mar. 31, 2024		123,453,419
Ending balance at Mar. 31, 2024	$ 63,295	$ 12	546,912	(4,083)	(479,546)
Beginning balance (in shares) at Dec. 31, 2023	122,899,002	122,899,002
Beginning balance at Dec. 31, 2023	$ 59,390	$ 12	541,281	(3,036)	(478,867)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(477)
Foreign currency translation adjustments	$ (1,863)
Ending balance (in shares) at Jun. 30, 2024	123,993,785	123,993,785
Ending balance at Jun. 30, 2024	$ 69,189	$ 12	553,420	(4,899)	(479,344)
Beginning balance (in shares) at Mar. 31, 2024		123,453,419
Beginning balance at Mar. 31, 2024	63,295	$ 12	546,912	(4,083)	(479,546)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	202				202
Issuance of Common Stock pursuant to equity compensation plan (in shares)		454,362
Shares withheld for tax withholdings on vested stock awards (in shares)		(104,120)
Shares withheld for tax withholdings on vested stock awards	(368)		(368)
Issuance of Common Stock relating to employee stock purchase plan (in shares)		190,124
Issuance of Common Stock relating to employee stock purchase plan	378		378
Share-based compensation	6,498		6,498
Foreign currency translation adjustments	$ (816)			(816)
Ending balance (in shares) at Jun. 30, 2024	123,993,785	123,993,785
Ending balance at Jun. 30, 2024	$ 69,189	$ 12	$ 553,420	$ (4,899)	$ (479,344)

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (477)	$ (16,895)
Adjustments to reconcile net loss to net cash from operating activities
Share-based compensation	13,134	12,101
Amortization of intangible assets	10,255	11,126
Depreciation of property and equipment	5,431	4,483
Amortization of other assets	1,879	1,107
Amortization of debt issuance costs	1,746	2,114
Inventory write-down	19,304	4,365
Provision for estimated credit losses	2,037	1,380
Change in fair value of warrant liabilities	(2,579)	(2,509)
Gain on repurchase of convertible senior notes, net	(33,411)	0
Deferred income taxes	(2,144)	0
Other, net	7,515	1,796
Changes in operating assets and liabilities:
Accounts receivable	10,499	(138)
Inventories	(6,572)	(2,605)
Prepaid expenses, other current assets, and income tax receivable	6,264	(12,188)
Accounts payable, accrued expenses, and income tax payable	(38,686)	9,239
Other, net	(4,848)	(4,420)
Net cash (used for) provided by operating activities	(10,653)	8,956
Cash flows from investing activities:
Cash paid for intangible assets	(3,162)	(4,365)
Cash paid for property and equipment	(678)	(3,623)
Cash paid for asset acquisitions	0	(16,915)
Net cash used for investing activities	(3,840)	(24,903)
Cash flows from financing activities:
Repurchase of convertible senior notes	(156,082)	0
Payment of tax withholdings on vested stock awards	(1,285)	(2,083)
Payment of accelerated share repurchases	0	(2,240)
Other, net	0	582
Net cash used for financing activities	(157,367)	(3,741)
Net change in cash, cash equivalents, and restricted cash	(171,860)	(19,688)
Effect of foreign currency translation on cash	(1,621)	1,219
Cash, cash equivalents, and restricted cash beginning of period	523,025	568,197
Cash, cash equivalents, and restricted cash end of period	$ 349,544	$ 549,728

Description of Business

Description of Business	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Description of Business	Description of Business The Beauty Health Company (the “Company”) is a global category-creating company focused on delivering skin health experiences that help consumers reinvent their relationship with their skin, bodies, and self-confidence. The Company and its subsidiaries design, develop, manufacture, market, and sell esthetic technologies and products. The Company’s brands are pioneers: Hydrafacial in hydradermabrasion; SkinStylus in microneedling; and Keravive in scalp health. Together, with its powerful global community of estheticians, partners, and consumers, the Company is personalizing skin health for all ages, genders, skin tones, and skin types. Historical Information The Company (f.k.a. Vesper Healthcare Acquisition Corp.) was incorporated in the State of Delaware on July 8, 2020. On May 4, 2021, we consummated the previously announced business combination pursuant to that certain Agreement and Plan of Merger, dated December 8, 2020, by and among Vesper Healthcare Acquisition Corp. (“Vesper Healthcare”), Hydrate Merger Sub I, Inc. (“Merger Sub I”), Hydrate Merger Sub II, LLC (“Merger Sub II”), LCP Edge Intermediate, Inc., the indirect parent of HydraFacial LLC, f.k.a. Edge Systems LLC (“Hydrafacial”), and LCP Edge Holdco, LLC (“LCP,” or “Former Parent,” and, in its capacity as the stockholders’ representative, the “Stockholders’ Representative”) (the “Merger Agreement”), which provided for: (a) the merger of Merger Sub I with and into Hydrafacial, with Hydrafacial continuing as the surviving corporation (the “First Merger”), and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of Hydrafacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”). As a result of the First Merger, the Company owns 100% of the outstanding common stock of Hydrafacial and each share of common stock and preferred stock of Hydrafacial was cancelled and converted into the right to receive a portion of the consideration payable in connection with the Mergers. As a result of the Second Merger, the Company owns 100% of the outstanding interests in Merger Sub II. In connection with the closing of the Business Combination (the “Closing”), the Company owns, directly or indirectly, 100% of the stock of Hydrafacial and its subsidiaries and the stockholders of Hydrafacial as of immediately prior to the effective time of the First Merger (the “Hydrafacial Stockholders”) hold a portion of the Company’s Class A common stock, par value $0.0001 per share (the “Class A Common Stock”). Basis of Presentation The accompanying unaudited interim financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. These statements reflect all normal and recurring adjustments which, in the opinion of management, are necessary to present fairly the financial position, results of operations and cash flows of the Company for the interim periods presented. These interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in, or presented as exhibits to, the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Revenue

Revenue	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Revenue	Revenue The Company generates revenue through manufacturing and selling its patented hydradermabrasion delivery systems (“Delivery Systems”). In conjunction with the sale of Delivery Systems, the Company also sells single-use tips, solutions, and serums used to provide a Hydrafacial treatment that cleanses, extracts, and hydrates the skin (collectively “Consumables”). Original Consumables are sold solely and exclusively by the Company (and from authorized retailers) and are available for purchase separately from the purchase of Delivery Systems. For both Delivery Systems and Consumables, revenue is recognized upon transfer of control to the customer, which generally takes place at the point of shipment. The Company manages its business on the basis of one operating segment and one reportable segment. As a result, the chief operating decision maker, who is the Chief Executive Officer, reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources and evaluating financial performance. The Company’s revenue disaggregated by major product line consists of the following for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Net Sales Delivery Systems $ 35,209 $ 65,590 $ 70,992 $ 110,943 Consumables 55,385 51,889 101,005 92,814 Total net sales $ 90,594 $ 117,479 $ 171,997 $ 203,757 Net sales by geographic region were as follows for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Americas $ 57,731 $ 63,644 $ 108,057 $ 116,622 Asia-Pacific (“APAC”) 13,635 25,248 25,607 38,868 Europe, the Middle East and Africa (“EMEA”) 19,228 28,587 38,333 48,267 Total net sales $ 90,594 $ 117,479 $ 171,997 $ 203,757

Balance Sheet Components

Balance Sheet Components	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Balance Sheet Components	Balance Sheet Components Inventories consist of the following as of the periods indicated: (in thousands) June 30, 2024 December 31, 2023 Raw materials $ 23,907 $ 24,406 Finished goods 53,236 66,915 Total inventories $ 77,143 $ 91,321 During the six months ended June 30, 2024, the Company recognized $19.3 million of inventory charges for discontinued, excess, obsolete inventory, including the write-down of Delivery System inventory to its net realizable value and the write-off of excess raw materials. During the six months ended June 30, 2023 , the Company recognized $4.4 million of inventory charges for discontinued, excess, and obsolete inventory. Accrued payroll-related expenses consist of the following as of the periods indicated: (in thousands) June 30, 2024 December 31, 2023 Accrued compensation and payroll taxes $ 9,323 $ 10,458 Accrued sales commissions 5,492 7,565 Accrued benefits 2,331 4,005 Total accrued payroll-related expenses $ 17,146 $ 22,028 Other accrued expenses consist of the following as of the periods indicated: (in thousands) June 30, 2024 December 31, 2023 Sales and VAT tax payables $ 4,798 $ 4,971 Deferred revenue 3,875 450 Royalty liabilities 3,769 3,914 Accrued interest 1,719 2,344 Other 9,883 8,167 Total other accrued expenses $ 24,044 $ 19,846 As of June 30, 2024 and December 31, 2023, the Company has approximately $9 million and $15 million, respectively, of non-trade receivables from certain of its manufacturing vendors resulting from the sale of components to these vendors who manufacture or assemble final products for the Company, which is included in prepaid expenses and other current assets on the Consolidated Balance Sheets. The Company purchases components directly from suppliers and do not reflect the sale of these components to the manufacturing vendors in net sales. As of June 30, 2024 and December 31, 2023 , total warranty reserve was approximately $7 million and $6 million, respectively. As of June 30, 2024 , approximately $5 million was included in other accrued expenses and approximately $2 million was included in other long-term liabilities on the Condensed Consolidated Balance Sheets. As of December 31, 2023 , approximately $4 million was included in other accrued expenses and approximately $2 million was included in other long-term liabilities on the Consolidated Balance Sheets. As of June 30, 2024, the Company has approximately $2 million in restricted cash held as collateral for the Company’s credit cards.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023, and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. The three levels of the fair value hierarchy are as follows: Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. As of June 30, 2024 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash, cash equivalents, and restricted cash: Money market funds $ 282,257 $ — $ — $ 282,257 International treasuries $ — $ 3,747 $ — $ 3,747 Liabilities Warrant liability — Private Placement Warrants $ — $ — $ 976 $ 976 As of December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash, cash equivalents, and restricted cash: Money market funds $ 458,676 $ — $ — $ 458,676 International treasuries $ — $ 3,777 $ — $ 3,777 Liabilities Warrant liability — Private Placement Warrants $ — $ — $ 3,555 $ 3,555 In October 2020, in connection with the consummation of Vesper Healthcare’s initial public offering, the Company issued 9,333,333 warrants to purchase shares of the Company’s Class A Common Stock at $11.50 per share (the “Private Placement Warrants”), to BLS Investor Group LLC. As of June 30, 2024 and December 31, 2023, the Company had approximately 7 million Private Placement Warrants outstanding for which the fair value was determined using a Monte Carlo simulation.

Property and Equipment, net

Property and Equipment, net	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Property and Equipment, net	Property and Equipment, net Property and equipment, net consist of the following as of the periods indicated: (in thousands) Useful life (years) June 30, 2024 December 31, 2023 Leasehold improvements Shorter of remaining lease $ 12,263 $ 12,323 Machinery and equipment 2-5 8,332 8,597 Furniture and fixtures 2-7 6,320 5,903 Computers and equipment 3-5 5,533 5,479 Tooling 5 1,148 887 Autos and trucks 5 194 242 Construction in progress 227 748 Total property and equipment 34,017 34,179 Less: accumulated depreciation and amortization (24,299) (19,953) Property and equipment, net $ 9,718 $ 14,226

Goodwill and Intangible Assets,

Goodwill and Intangible Assets, net	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets, net	Goodwill and Intangible Assets, net Goodwill The changes in the carrying value of goodwill for the six months ended June 30, 2024 is as follows (in thousands): December 31, 2023 $ 125,818 Foreign currency translation impact (996) June 30, 2024 $ 124,822 Intangible Assets, Net The gross carrying amount and accumulated amortization of the Company’s intangible assets, net, as of June 30, 2024 were as follows: (in thousands) Gross Accumulated Net Carrying Estimated Developed technology $ 91,629 $ (69,923) $ 21,706 3 - 10 Capitalized software 20,786 (6,005) 14,781 3 - 5 Customer relationships 18,297 (12,730) 5,567 5 - 10 Trademarks 11,588 (5,777) 5,811 15 Non-compete agreement 5,849 (2,133) 3,716 3 Patents 3,211 (631) 2,580 3 - 19 Total intangible assets $ 151,360 $ (97,199) $ 54,161 The gross carrying amount and accumulated amortization of the Company’s intangible assets, net, as of December 31, 2023 were as follows: (in thousands) Gross Accumulated Net Carrying Estimated Developed technology $ 91,629 $ (64,453) $ 27,176 3 - 10 Capitalized software 18,423 (4,078) 14,345 3 - 5 Customer relationships 18,809 (11,317) 7,492 5 - 10 Trademarks 11,521 (5,367) 6,154 15 Non-compete agreement 5,878 (1,530) 4,348 3 Patents 3,132 (524) 2,608 3 - 19 Total intangible assets $ 149,392 $ (87,269) $ 62,123 Acquisition of Esthetic Medical, Inc. and Anacapa Aesthetics LLC In February 2023, Edge Systems Intermediate, LLC, an indirect, wholly-owned subsidiary of the Company, acquired all of the outstanding shares of Esthetic Medical, Inc. (“EMI”) in exchange for (i) a cash payment of $11.8 million and (ii) 109,625 shares of Class A Common Stock of the Company ($1.3 million). In addition, Dr. Lawrence Groop (the “Seller”) is entitled to receive up to an additional $3.2 million in contingent consideration based upon the achievement of certain conditions defined in the purchase agreement, of which $1.9 million was considered probable as of the acquisition date. Applicable tax guidance was used to apply the simultaneous equation method to incrementally assign $4.6 million to the book value of the intangible asset in excess of the purchase price. The Company accounted for this transaction as an asset acquisition and allocated substantially all of the purchase price and the tax basis difference totaling $19.9 million to intangible assets, primarily related to developed technology. In July 2023, EMI obtained clearance from the U.S. Food and Drug Administration that the SkinStylus Sterilock MicroSystem is cleared for use as a treatment to improve the appearance of facial acne scars in Fitzpatrick skin types I, II, and III in adults aged 22 years and older (the “Facial Indication Approval”). Obtaining the Facial Indication Approval triggered a $1.3 million contingent payment made in July 2023 by the Company to the Seller, which was previously not considered probable of payment.

Long-Term Debt

Long-Term Debt	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Long-Term Debt	Long-Term Debt Convertible Senior Notes On September 14, 2021, the Company issued an aggregate of $750.0 million in principal amount of its 1.25% Convertible Senior Notes due 2026 (the “Notes”). The Notes were issued pursuant to, and are governed by, an indenture dated as of September 14, 2021, between the Company and U.S. Bank National Association, as trustee (the “Indenture”). Pursuant to the purchase agreement between the Company and the initial purchasers of the Notes, the Company granted the initial purchasers an option to purchase, for settlement within a period of 13 days from, and including, the date the Notes were first issued, up to an additional $100.0 million principal amount of Notes. The Notes issued on September 14, 2021 include the $100.0 million principal amount of Notes issued pursuant to the full exercise by the initial purchasers of such option. The following is a summary of the Company’s Notes for the periods indicated: (in thousands) June 30, 2024 December 31, 2023 1.25% Convertible Notes due 2026 $ 557,700 $ 750,000 Unamortized debt issuance costs (7,075) (11,628) Net carrying value $ 550,625 $ 738,372 During the three months ended March 31, 2024, the Company repurchased $75.0 million principal amount of its Notes at a weighted-average price equal to 77% for $57.8 million and recognized a net gain of $16.1 million, which includes $1.2 million of unamortized debt issuance costs related to the repurchase. Additionally, during the three months ended June 30, 2024, the Company repurchased $117.3 million principal amount of its Notes at a weighted-average price equal to 84% for $98.3 million and recognized a net gain of $17.3 million, which includes $1.6 million of unamortized debt issuance costs related to the repurchase. The total amount paid and net gain recognized to repurchase $192.3 million principal amount during the six months ended June 30, 2024 was $156.1 million and $33.4 million, respectively. The net gain is included in other income, net in the Condensed Consolidated Statements of Comprehensive Income (Loss). As of June 30, 2024 and December 31, 2023 , the estimated fair value of the Notes was approximately $464 million and $558 million, respectively. The estimated fair value of the Notes was determined based on the actual bid price of the Notes on June 30, 2024 and December 31, 2023, and are classified as Level 2 within the fair value hierarchy. Capped Call Transactions On September 9, 2021, in connection with the pricing of the offering of Notes, the Company entered into privately negotiated capped call transactions (the “Base Capped Call Transactions”) with Bank of Montreal, Credit Suisse Capital LLC, Deutsche Bank AG, London Branch, Goldman Sachs & Co. LLC, JPMorgan Chase Bank, National Association, Mizuho Markets Americas LLC and Wells Fargo Bank, National Association (collectively, the “Option Counterparties”). In addition, on September 10, 2021, in connection with the initial purchasers’ exercise of their option to purchase additional Notes, the Company entered into additional capped call transactions (the “Additional Capped Call Transactions,” and, together with the Base Capped Call Transactions, the “Capped Call Transactions”) with each of the Option Counterparties. The Capped Call Transactions cover, subject to customary anti-dilution adjustments, the aggregate number of shares of the Company’s common stock that initially underlie the Notes, and are expected generally to reduce potential dilution to the Company’s common stock upon any conversion of Notes and/or offset any cash payments the Company is required to make in excess of the principal amount of converted Notes, as the case may be, with such reduction and/or offset subject to a cap, based on the cap price of the Capped Call Transactions. The cap price of the Capped Call Transactions is initially $47.94, which represents a premium of 100% over the last reported sale price of the Company’s common stock on September 9, 2021. The cost of the Capped Call Transactions was $90.2 million. The Capped Call Transactions are separate transactions, each between the Company and the applicable Option Counterparty, and are not part of the terms of the Notes and do not affect any holder’s rights under the Notes or the Indenture. Holders of the Notes will not have any rights with respect to the Capped Call Transactions. Amended and Restated Credit Facility On November 14, 2022, the Company, as successor by assumption to Hydrafacial, a California limited liability company, entered into an Amended and Restated Credit Agreement (as it may be further amended, restated, supplemented or modified from time to time, the “Credit Agreement”) with JPMorgan Chase Bank, N.A. (the “Administrative Agent”). The Credit Agreement provides for a $50.0 million revolving credit facility with a maturity date of November 14, 2027. As of June 30, 2024, the Credit Agreement was undrawn and there was no outstanding balance under the revolving credit facility. On August 6, 2024, the Company prepaid all obligations and terminated all commitments, liabilities, and other obligations under the Credit Agreement. There were no material early termination penalties incurred in connection therewith, all outstanding obligations and commitments under the Credit Agreement were satisfied and terminated, and all related security interests and liens securing such obligations and commitments were released.

Income Taxes

Income Taxes	6 Months Ended
	Jun. 30, 2024
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company is required to calculate its interim income tax provision using the estimated annual effective tax rate (“AETR”) method prescribed by Accounting Standards Codification (“ASC”) 740 - Income Taxes, and as such, excludes losses in jurisdictions where the Company cannot benefit in computing its worldwide AETR. A separate AETR is computed and applied to ordinary losses in the U.S. jurisdiction as required by ASC 740-270-30-36(a). For the three and six months ended June 30, 2024 , the Company recorded foreign income tax benefit of $0.4 million and $1.0 million, respectively, and U.S. income tax expense of zero. Additionally, during the three months ended June 30, 2024 , the Company recorded true-up adjustments related to foreign income tax returns filed. The Company’s effective tax rate for the three months ended June 30, 2024 was affected by a mix of ordinary losses in foreign jurisdictions that are tax-effected using a worldwide AETR of 30%, and ordinary income in the U.S. jurisdiction that was tax-effected using a separate U.S. AETR of 0%. The separate U.S. AETR differed from the U.S. federal statutory tax rate of 21% due primarily to a full valuation allowance against the Company's U.S. deferred tax assets. For the three and six months ended June 30, 2023 , the Company recorded income tax benefit of $2.2 million and $5.9 million, respectively. The estimated worldwide AETR differed from the U.S. federal statutory tax rate of 21% due primarily to losses in foreign jurisdictions that are taxed at higher rates than the U.S. federal rate, a full valuation allowance against the Company's U.S. deferred tax assets, and the impact of accounting for business combination. The Company has established a valuation allowance in the U.S. against its deferred tax assets because it is more likely than not that the deferred tax assets will not be realized. In determining whether deferred tax assets are realizable, the Company considers numerous factors including historical profitability, the amount of future taxable income and the existence of taxable temporary differences that can be used to realize deferred tax assets. The Company applies ASC 740, the accounting standard addressing the accounting for uncertainty in income taxes, which prescribes rules for recognition, measurement and classification in the financial statements of tax positions taken or expected to be taken in a tax return. The Company has gross unrecognized tax benefits

Share-Based Compensation

Share-Based Compensation	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Share-Based Compensation	Share-Based Compensation The Company has various stock compensation plans, which are more fully described in Part II, Item 8 “Financial Statements and Supplementary Data—Note 13 to the Consolidated Financial Statements—Equity-Based Compensation” in the Company’s 2023 Annual Report on Form 10-K. Under the Beauty Health Company 2021 Incentive Award Plan, the Company may grant stock options, stock appreciation rights, restricted stock, restricted stock units, dividend equivalents, other stock or cash-based awards to eligible service providers. Additionally, the Company maintains the Employee Stock Purchase Plan for employees located in the United States, whereby eligible employees can have up to 10% of their earnings withheld, subject to certain maximums, to be used to purchase shares of the Company’s Class A Common Stock at certain purchase dates. Share-based compensation expense was as follows for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Cost of sales $ 130 $ 411 $ (274) $ 704 Selling and marketing 2,204 1,674 4,628 3,478 Research and development (628) 366 48 363 General and administrative 4,792 6,073 8,732 7,556 Total share-based compensation $ 6,498 $ 8,524 $ 13,134 $ 12,101 As of June 30, 2024 , total unrecognized compensation expense related to unvested share-based compensation totaled $44.8 million and is expected to be recognized over a weighted-average period of 1.9 years.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2024
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Cartessa On December 14, 2020, Hydrafacial filed a complaint (the “Cartessa Complaint”) against Cartessa Aesthetics, LLC (“Cartessa”) in the United States District Court for the Eastern District of New York (the “New York Court”), captioned Edge Systems LLC v. Cartessa Aesthetics, LLC, Case No. 1:20-cv-6082, for patent infringement arising from Cartessa’s sale of Cartessa’s hydrodermabrasion system that Hydrafacial alleged has infringed five of Hydrafacial’s patents on its device. Hydrafacial narrowed its allegation in the Cartessa Complaint to assert infringement of just four of its patents. On September 15, 2022, the New York Court granted Hydrafacial’s Motion for Summary Judgment of No Unclean Hands and denied Cartessa’s Motion for Summary Judgment of non-infringement on three of the four patents-in-suit. On June 6, 2023, the New York Court granted Hydrafacial’s Motion for Summary Judgment of No Invalidity of the fourth patent-in-suit and granted Cartessa’s Motion for Summary Judgment of non-infringement of that same patent. As of the date of this report, Hydrafacial and Cartessa are awaiting the New York Court to set a trial date on Hydrafacial’s remaining three patents-in-suit in the Cartessa Complaint. Hydrafacial is seeking monetary damages and plans to vigorously pursue its claims against Cartessa. Hydrafacial also plans to appeal the New York Court’s grant of Cartessa’s Motion for Summary Judgment. Cartessa - Eunsung Global Corp. On June 11, 2024, Hydrafacial filed a complaint against Cartessa and its foreign manufacturer, Eunsung Global Corp., in the United States International Trade Commission. A Notice of Institution of Investigation was issued on July 11, 2024, and the investigation was assigned investigation number 337-TA-1408. In the investigation, Hydrafacial has asserted a single patent, U.S. Patent No. 11,865,287, which relates to hydrodermabrasion systems but was not asserted in the Cartessa Complaint. The investigation is in the early stages, and Hydrafacial is seeking an exclusion order preventing importation or sale of Cartessa’s hydrodermabrasion systems within the U.S. Medicreations On May 6, 2024, Hydrafacial filed a complaint against Medicreations LLC (“Medicreations”) in the United States District Court for Nevada, Case Number 2:24-cv-00855 (the “Medicreations Complaint”), for patent infringement arising from Medicreations’ sale of hydrodermabrasion systems that Hydrafacial alleged to have infringed twelve of Hydrafacial’s patents. The Medicreations Complaint is in its early stages, and Hydrafacial is seeking monetary damages and plans to vigorously pursue its claims against Medicreations. Aesthetic Management Partners On July 8, 2024, Hydrafacial filed a complaint against Aesthetic Management Partners Inc. (“Aesthetic Management Partners”) in the United States District Court for the Western District of Tennessee, Case No. 2:24-cv-02480-JPM-TMP (the “AMP Complaint”), for patent infringement arising from Aesthetic Management Partners’ sale of hydrodermabrasion systems that Hydrafacial alleged to have infringed five of Hydrafacial’s patents on its device. The AMP Complaint is in its early stages, and Hydrafacial is seeking monetary damages and plans to vigorously pursue its claims against Aesthetic Management Partners. Medical Purchasing Resource On June 4, 2024, Hydrafacial filed a complaint against Medical Purchasing Resource, LLC (“Medical Purchasing Resource”) in the United States District Court for the Central District of California, Case No. 2:24-cv-4655 (the “MPR Complaint”), for trademark infringement, false designation of origin, unfair competition, tortious interference, and other causes of action relating to Hydrafacial’s trademark rights. The MPR Complaint is in its early stages, and Hydrafacial is seeking monetary damages and plans to vigorously pursue its claims against Medical Purchasing Resource. Securities Class Action On November 16, 2023, a putative class action was filed in the United States District Court for the Central District of California against the Company, its then-current president and chief executive officer, Andrew Stanleick, its former chief financial officer, Liyuan Woo, and its current chief financial officer, Michael Monahan. The complaint, styled Abduladhim A. Alghazwi, individually and on behalf of all others similarly situated, v. The Beauty Health Company, Andrew Stanleick, Liyuan Woo, and Michael Monahan, Case No. 2:23-cv-09733 (C.D. Ca.) (the “Securities Class Action”), asserts claims for violation of Section 10(b) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) and Rule 10b-5 promulgated thereunder against all defendants (First Claim), and violation of Section 20(a) of the Exchange Act against the individual defendants (Second Claim). The complaint alleges that, between May 10, 2022 and November 13, 2023, defendants materially misled the investing public by publicly issuing false and/or misleading statements and/or omissions relating to Hydrafacial's business, operations, and prospects, specifically with respect to the performance of and demand for the Syndeo 1.0 and 2.0 devices. The relief sought in the complaint includes a request for compensatory damages suffered by the plaintiff and other members of the putative class for damages allegedly sustained as a result of the alleged securities violations. On January 16, 2024, putative class members Jeff and Kevin Brown (the “Browns”), Priscilla and Martjn Dijkgraaf (the “Dijkgraafs”), and Joseph Jou filed three competing motions for appointment as lead plaintiff under the Private Securities Litigation Reform Act (“PSLRA”), 17 U.S.C. § 78u-4(a)(3). On January 31, 2024, Joseph Jou filed a notice of non-opposition to the Browns’ and Dijkgraafs’ motions for appointment as lead plaintiff. On May 2, 2024, the court granted the Dijkgraafs’ motion for appointment as lead plaintiff and approved the Dijkgraafs’ counsel, Hagens Berman, as lead counsel. On May 9, 2024, the parties submitted a joint stipulation to the court setting forth a proposed schedule for the filing of an amended complaint and defendants’ response thereto. The proposed schedule has not yet been approved by the court. On July 1, 2024, lead plaintiffs filed a consolidated amended class action complaint asserting the same causes of action as the original complaint. The Securities Class Action case is assigned to U.S. District Judge Sherilyn Peace Garnett. The Company believes that the claims asserted in the Securities Class Action have no merit and intends to vigorously defend them. The Company is unable to reasonably estimate the possible loss or range of loss, if any, associated with these claims, and, accordingly, it has not accrued any liability associated with the Securities Class Action. Consolidated Derivative Action On February 8, 2024, a derivative complaint was filed in the Delaware Court of Chancery against the Company’s former president and chief executive officer, Andrew Stanleick; its former chief financial officer, Liyuan Woo, and current members of the Company’s board of directors (the “Board of Directors”): Brenton Saunders, Marla Beck, Michael Capellas, Julius Few, Desiree Gruber, Michelle Kerrick, Brian Miller, and Doug Schillinger, with the Company as the nominal defendant. The complaint, styled Margie Elstein, derivatively on behalf of The Beauty Health Company v. Brenton Saunders, Marla Beck, Michael Capellas, Julius Few, Desiree Gruber, Michelle C. Kerrick, Brian Miller, Doug Schillinger Andrew Stanleick, and Liyuan Woo, C.A. No. 2024-0114-LWW (Del. Ch.) (the “Elstein Derivative Action”), asserts a single claim for breach of fiduciary duty against the individual defendants based on the alleged disclosure of knowingly false information and/or the alleged failure to respond to red flags relating to Hydrafacial’s business, operations, and prospects, specifically with respect to the performance of and demand for the Syndeo 1.0 and 2.0 devices. The plaintiff-stockholder further maintains that no demand was made upon the Company’s Board of Directors prior to the initiation of the Elstein Derivative Action based on allegations that a majority of the Board of Directors was not disinterested or independent with respect to the fiduciary duty claim, such that demand should be excused as futile. The relief sought in the complaint includes a finding of demand futility, a finding that the individual defendants are liable for breaching their fiduciary duties (as current/former officers and directors), and an award of compensatory damages for harm suffered by the Company and its stockholders for harm allegedly sustained as a result of the alleged fiduciary duty violation. On May 1, 2024, a derivative complaint was filed in the Delaware Court of Chancery against the Company’s former president and chief executive officer, Andrew Stanleick; its former chief financial officer, Liyuan Woo, and current members of the Company’s Board of Directors: Brent Saunders, Marla Beck, Michael Capellas, Julius Few, Desiree Gruber, Michelle Kerrick, Brian Miller, and Doug Schillinger, with the Company as the nominal defendant. The complaint, styled Richard Montague, derivatively on behalf of The Beauty Health Company v. Andrew Stanleick, Liyuan Woo, Brent Saunders, Marla Beck, Michael Capellas, Julius Few, Desiree Gruber, Michelle C. Kerrick, Brian Miller, and Doug Schillinger, C.A. No. 2024-0463-LWW (Del. Ch) (the “Montague Derivative Action”), asserts claims for (i) breach of fiduciary duty, (ii) gross mismanagement, (iii) waste of corporate assets, (iv) unjust enrichment, and (v) aiding and abetting against the individual defendants based on allegations that the individual defendants made materially false and/or misleading statements, as well as failing to disclose material adverse facts about the Company’s business, operations, and prospects, specifically relating to the Syndeo 1.0 and 2.0 devices. The relief sought in the Montague Derivative Action includes (a) awarding damages for harm suffered by the Company allegedly sustained as a result of the individual defendants’ alleged breach of fiduciary duties, gross mismanagement, waste of corporate assets, and unjust enrichment, (b) awarding damages for harm suffered by the Company allegedly sustained as a result of the Company’s directors’ alleged aiding and abetting of breaching their fiduciary duties, (c) directing the Company to reform and improve its corporate governance and internal procedures, to comply with its existing governance obligations and all applicable laws, and to protect its investors from a recurrence of the alleged damaging events, and (d) awarding the plaintiff-stockholder the costs and disbursements of the Montague Derivative Action, including reasonable attorneys’ fees, accountants’ and experts’ fees, costs, and expenses. On May 22, 2024, the parties to the Elstein Derivative Action and Montague Derivative Action submitted a Stipulation and Proposed Order Governing Consolidation, Appointment of Lead, and Deadline to Respond to Operative Complaint. On May 24, 2024, Vice Chancellor Will, who was assigned to both the Elstein Derivative Action and the Montague Derivative Action, entered the Stipulation and Order Governing Consolidation, Appointment of Lead, and Deadline to Respond to Operative Complaint (the “Consolidation Order”). Per the Consolidation Order, the Elstein Derivative Action and the Montague Derivative Action were consolidated into a single derivative action, styled In re The Beauty Health Company Consolidated Stockholder Derivative Litigation, C.A. No. 2024-0114-LWW (Del. Ch.) (the “Consolidated Derivative Action”). The Consolidation Order designated the law firms of Gainey McKenna & Egleston and Komlossy Law, P.A. as co-lead counsel for plaintiffs in the Consolidated Derivative Action, and designated the law firm of Cooch and Taylor, P.A. as Delaware counsel for plaintiffs in the Consolidated Derivative Action. Additionally, the Consolidation Order designated the complaint filed in the Elstein Derivative Action as the operative complaint for the Consolidated Derivative Action (the “Operative Complaint”), further providing that defendants are not obligated to answer or otherwise respond to the complaint filed in the Montague Derivative Action. The Consolidation Order further provided that defendants shall answer or otherwise respond to the Operative Complaint by August 25, 2024. The Company believes that the claims asserted in the Consolidated Derivative Action have no merit and intends to vigorously defend them. The Company is unable to reasonably estimate the possible loss or range of loss, if any, associated with these claims, and, accordingly, it has not accrued any liability associated with the Consolidated Derivative Action. Securities and Exchange Commission ( the “ SEC”) Subpoena The Division of Enforcement of the SEC has issued a subpoena in connection with a formal order of investigation of the Company seeking documents and information from us. The Company is in the process of responding to the subpoena and intends to fully cooperate with the SEC investigation. We cannot predict the duration, scope, or outcome of this matter at this time.

Related-Party Transactions

Related-Party Transactions	6 Months Ended
	Jun. 30, 2024
Related Party Transactions [Abstract]
Related-Party Transactions	Related-Party Transactions Registration Rights Agreement In connection with the consummation of the Business Combination, on May 4, 2021, the Company entered into that certain Amended and Restated Registration Rights Agreement (the “Registration Rights Agreement”) with BLS Investor Group LLC and the Hydrafacial Stockholders. Pursuant to the terms of the Registration Rights Agreement, (i) any outstanding shares of Class A Common Stock or any other equity securities (including the Private Placement Warrants and including shares of Class A Common Stock issued or issuable upon the exercise of any other equity security) of the Company held by BLS Investor Group LLC (the “Sponsor”) or the Hydrafacial Stockholders (together, the “Restricted Stockholders”) as of the date of the Registration Rights Agreement or thereafter acquired by a Restricted Stockholder (including the shares of Class A Common Stock issued upon conversion of the 11,500,000 shares of Class B common stock (the “Founder Shares”) that were owned by the Sponsor and converted into shares of Class A Common Stock in connection with the Business Combination and upon exercise of any Private Placement Warrants) and shares of Class A Common Stock issued as earn-out shares to the Hydrafacial Stockholders and (ii) any other equity security of the Company issued or issuable with respect to any such share of common stock by way of a stock dividend or stock split or in connection with a combination of shares, recapitalization, merger, consolidation or other reorganization or otherwise will be entitled to registration rights. The Registration Rights Agreement provides that the Company will, within 60 days after the consummation of the Business Combination, file with the SEC a shelf registration statement registering the resale of the shares of common stock held by the Restricted Stockholders and will use its reasonable best efforts to have such registration statement declared effective as soon as practicable after the filing thereof, but in no event later than 60 days following the filing deadline. The Company filed such registration statement on July 19, 2021 and it was declared effective by the SEC on July 26, 2021. The Hydrafacial Stockholders are entitled to make up to an aggregate of two demands for registration, excluding short form demands, that the Company register shares of common stock held by these parties. In addition, the Restricted Stockholders have certain “piggy-back” registration rights. The Company will bear the expenses incurred in connection with the filing of any registration statements filed pursuant to the terms of the Registration Rights Agreement. The Company and the Restricted Stockholders agree in the Registration Rights Agreement to provide customary indemnification in connection with any offerings of common stock effected pursuant to the terms of the Registration Rights Agreement. Pursuant to the Registration Rights Agreement, the Sponsor agreed to restrictions on the transfer of its securities issued in the Company’s initial public offering, which (i) in the case of the Founder Shares is one year after the completion of the Business Combination unless (A) the closing price of the common stock equals or exceeds $12.00 per share for 20 days out of any 30-trading-day period commencing at least 150 days following the Closing of the Business Combination or (B) the Company completes a liquidation, merger, capital stock exchange, reorganization or other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property, and (ii) in the case of the Private Placement Warrants and the respective Class A Common Stock underlying the Private Placement Warrants is 30 days after the completion of the Business Combination. The Sponsor and its permitted transferees will also be required, subject to the terms and conditions in the Registration Rights Agreement, not to transfer their Private Placement Warrants (as defined in the Registration Rights Agreement) or shares of common stock issuable upon the exercise thereof for 30 days following the Closing. Investor Rights Agreement In connection with the consummation of the Business Combination, on May 4, 2021, the Company and LCP Edge Holdco, LLC entered into that certain Investor Rights Agreement (the “Investor Rights Agreement”). Pursuant to the Investor Rights Agreement, LCP has the right to designate a number of directors for appointment or election to the Company’s Board of Directors as follows: (i) one director for so long as LCP holds at least 10% of the outstanding Class A Common Stock, (ii) two directors for so long as LCP holds at least 15% of the outstanding Class A Common Stock, and (iii) three directors for so long as LCP holds at least 40% of the outstanding Class A Common Stock. Pursuant to the Investor Rights Agreement, for so long as LCP holds at least 10% of the outstanding Class A Common Stock, LCP will be entitled to have at least one of its designees represented on the compensation committee and nominating committee and corporate governance committee of the Company’s Board of Directors.

Stockholders_ Equity

Stockholders’ Equity	6 Months Ended
	Jun. 30, 2024
Equity [Abstract]
Stockholders’ Equity	Stockholders' Equity Common Stock The Company is authorized to issue 320,000,000 shares of Class A Common Stock, par value of $0.0001 per share. Holders of Class A Common Stock are entitled to one vote for each share. As of June 30, 2024 and December 31, 2023, there were 123,993,785 and 122,899,002, respectively, of Class A Common Stock issued and outstanding. The Company has not declared or paid any dividends with respect to its Class A Common Stock . Common Stock Repurchases On September 12, 2023, the Company’s Board of Directors approved a share repurchase program authorizing the Company to repurchase up to $100.0 million of the Company’s Class A Common Stock. Under the share repurchase program, repurchases can be made from time to time using a variety of methods, which may include open market purchases, privately negotiated transactions, transactions structured through investment banking institutions, or a combination of the foregoing. Under this share repurchase program, for the year ended December 31, 2023, the Company repurchased and retired 10.4 million shares for $30.2 million excluding taxes. During the three and six months ended June 30, 2024, the Company did not repurchase any shares of its common stock. Preferred Stock The Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s Board of Directors. At June 30, 2024 and December 31, 2023 , there were no shares of preferred stock issued or outstanding.

Net Income (Loss) Attributable

Net Income (Loss) Attributable to Common Stockholders	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Net Income (Loss) Attributable to Common Stockholders	Net Income (Loss) Attributable to Common Stockholders The following table sets forth the calculation of both basic and diluted net income (loss) per share as follows for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share amounts) 2024 2023 2024 2023 Net income (loss) available to common stockholders - basic $ 202 $ 3,364 $ (477) $ (16,895) Adjustments related to Convertible Notes (1) (14,651) — (27,722) — Net (loss) income available to common stockholders - diluted $ (14,449) $ 3,364 $ (28,199) $ (16,895) Weighted average common shares outstanding - basic 123,718,797 132,716,024 123,417,353 132,569,209 Effect of dilutive shares: Convertible Notes 18,208,953 — 19,782,868 — Weighted average common shares outstanding - diluted 141,927,750 132,716,024 143,200,221 132,569,209 Basic net income (loss) per share: $ 0.00 $ 0.03 $ 0.00 $ (0.13) Dilutive net (loss) income per share: $ (0.10) $ 0.03 $ (0.20) $ (0.13) (1) For the three and six months ended June 30, 2024, the adjustments related to Convertible Notes include the net gain on repurchase offset by interest expense and amortization of debt issuance costs related to our Notes (net of taxes). The following shares have been excluded from the calculation of the weighted average diluted shares outstanding as the effect would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Convertible Notes — 23,614,425 — 23,614,425 Restricted Stock Units 7,050,916 4,518,083 7,050,916 4,518,083 Stock Options 3,617,970 4,294,507 3,617,970 4,294,507 Performance-based Restricted Stock Units 2,302,162 2,168,560 2,302,162 2,168,560 For the three and six months ended June 30, 2024 and 2023, income and shares related to the Private Placement Warrants were excluded from the calculation of diluted net (loss) income per common share because their effect would be antidilutive.

New Accounting Pronouncements

New Accounting Pronouncements	6 Months Ended
	Jun. 30, 2024
Accounting Changes and Error Corrections [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements In November 2023, the Financial Standards Accounting Board (“FASB”) issued Accounting Standards Update 2023-07 "Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures" which expands annual and interim disclosure requirements for reportable segments, primarily through enhanced disclosures about significant segment expenses. ASU 2023-07 is effective for annual periods beginning January 1, 2024, and for interim periods beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures. In December 2023, the FASB issued ASU 2023-09 "Income Taxes (Topic 740): Improvements to Income Tax Disclosures" to expand the disclosure requirements for income taxes, specifically related to the rate reconciliation and income taxes paid. ASU 2023-09 is effective for annual periods beginning January 1, 2025, with early adoption permitted. The Company is currently evaluating the potential effect that the updated standard will have on its financial statement disclosures. In March 2024, the FASB issued ASU 2024-02 "Codification Improvements—Amendments to Remove References to the Concepts Statements." ASU 2024-02 amends the FASB Accounting Standards Codification to remove references to various FASB Concept Statements. The amendments are considered to be codification improvements only and are effective for annual periods beginning January 1, 2025, with early adoption permitted. Adoption of ASU 2024-02 is not expected to have a material impact to our consolidated financial statements or related disclosures.

Syndeo Program

Syndeo Program	6 Months Ended
	Jun. 30, 2024
Syndeo Program [Abstract]
Syndeo Program	Syndeo Program To stand behind its commitment to its customers and protect the Company’s brand reputation, during October 2023, the Company’s management decided that, with respect to Syndeo devices, the Company will only market and sell Syndeo 3.0 devices. The Company provided, at no cost to the customer, the option of (i) a technician upgrade to their Syndeo 1.0 or 2.0 devices to 3.0 standards in the field; or (ii) a replacement Syndeo 3.0 device for their existing device (the “Syndeo Program”). Additionally, the Company extended the customer’s warranty by one year for each system from the date it was either brought to the 3.0 standards or the customer received a Syndeo 3.0 device. As of June 30, 2024, the Syndeo Program is substantially complete. As of December 31, 2023, the Company accrued costs of $21.0 million, primarily for the estimated cost to remediate, upgrade or exchange the remaining Syndeo 1.0 and 2.0 builds. The following table summarizes the Syndeo Program usage for the three and six months ended June 30, 2024 (in thousands): Program liability as of December 31, 2023 $ 21,009 Usage (12,695) Program liability as of March 31, 2024 $ 8,314 Usage (7,402) Program liability as of June 30, 2024 $ 912

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2024	Jun. 30, 2023
Pay vs Performance Disclosure
Net income (loss)	$ 202	$ (679)	$ 3,364	$ (20,259)	$ (477)	$ (16,895)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false
Michael Monahan [Member]
Trading Arrangements, by Individual
Material Terms of Trading Arrangement		The information included in this portion of Part II, Item 5 of this Quarterly Report on Form 10-Q is provided in lieu of filing such information on a Current Report on Form 8-K under Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On August 6, 2024, the Company, following consultation with and under the recommendation of the Company’s Compensation Committee, issued a letter (the “Bonus Opportunity Letter”) that approved the grant of a cash-based performance bonus in the amount of $300,000 to Michael Monahan, the Company’s Chief Financial Officer (the “Cash Performance Bonus”). The Cash Performance Bonus will be paid in one lump sum payment on or before April 15, 2025 (the “Target Date”), provided that Mr. Monahan achieves the following performance goals, the satisfaction of which will be determined by the Company: Mr. Monahan must ensure (i) that a written remediation plan to address the Company’s Inventory Material Weakness as further described in Part I, Item 4 of this Quarterly Report on Form 10-Q is implemented by the Target Date, whereby the remediation plan must establish a process for ongoing monitoring and oversight, appropriate training, and appropriate system enhancements to address (a) physical existence of inventory, (b) excess and obsolete inventory, and (c) inventory pricing and purchase agreements, including non-trade vendor receivables and potential disputes with vendors, and (ii) that systems and processes are in place to align the Company’s sales and operational planning process with the Company’s demand planning and inventory management process. The foregoing description of the Bonus Opportunity Letter is qualified in its entirety by reference to the text of the Bonus Opportunity Letter, which is filed as Exhibit 10.5 to this Quarterly Report on Form 10-Q and incorporated herein by reference.
Name	Michael Monahan
Title	Chief Financial Officer

Description of Business (Polici

Description of Business (Policies)	6 Months Ended
	Jun. 30, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited interim financial statements have been prepared in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, they do not include all information and footnotes required by accounting principles generally accepted in the United States of America (“GAAP”) for complete financial statements. These statements reflect all normal and recurring adjustments which, in the opinion of management, are necessary to present fairly the financial position, results of operations and cash flows of the Company for the interim periods presented. These interim financial statements should be read in conjunction with the audited consolidated financial statements and notes thereto included in, or presented as exhibits to, the Company’s Annual Report on Form 10-K for the year ended December 31, 2023.

Revenue (Tables)

Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Revenue from Contract with Customer [Abstract]
Schedule of Disaggregation of Revenue	The Company’s revenue disaggregated by major product line consists of the following for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Net Sales Delivery Systems $ 35,209 $ 65,590 $ 70,992 $ 110,943 Consumables 55,385 51,889 101,005 92,814 Total net sales $ 90,594 $ 117,479 $ 171,997 $ 203,757
Schedule of Net Sales by Geographic Region	Net sales by geographic region were as follows for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Americas $ 57,731 $ 63,644 $ 108,057 $ 116,622 Asia-Pacific (“APAC”) 13,635 25,248 25,607 38,868 Europe, the Middle East and Africa (“EMEA”) 19,228 28,587 38,333 48,267 Total net sales $ 90,594 $ 117,479 $ 171,997 $ 203,757

Balance Sheet Components (Table

Balance Sheet Components (Tables)	6 Months Ended
	Jun. 30, 2024
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventories consist of the following as of the periods indicated: (in thousands) June 30, 2024 December 31, 2023 Raw materials $ 23,907 $ 24,406 Finished goods 53,236 66,915 Total inventories $ 77,143 $ 91,321
Schedule of Accrued Payroll-Related Expenses	Accrued payroll-related expenses consist of the following as of the periods indicated: (in thousands) June 30, 2024 December 31, 2023 Accrued compensation and payroll taxes $ 9,323 $ 10,458 Accrued sales commissions 5,492 7,565 Accrued benefits 2,331 4,005 Total accrued payroll-related expenses $ 17,146 $ 22,028
Schedule of Accrued Expenses	Other accrued expenses consist of the following as of the periods indicated: (in thousands) June 30, 2024 December 31, 2023 Sales and VAT tax payables $ 4,798 $ 4,971 Deferred revenue 3,875 450 Royalty liabilities 3,769 3,914 Accrued interest 1,719 2,344 Other 9,883 8,167 Total other accrued expenses $ 24,044 $ 19,846

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2024
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis	The following tables present information about the Company’s assets and liabilities that are measured at fair value on a recurring basis as of June 30, 2024 and December 31, 2023, and indicate the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value. The three levels of the fair value hierarchy are as follows: Level 1: Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. Level 2: Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active. Level 3: Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability. As of June 30, 2024 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash, cash equivalents, and restricted cash: Money market funds $ 282,257 $ — $ — $ 282,257 International treasuries $ — $ 3,747 $ — $ 3,747 Liabilities Warrant liability — Private Placement Warrants $ — $ — $ 976 $ 976 As of December 31, 2023 (in thousands) Level 1 Level 2 Level 3 Total Assets Cash, cash equivalents, and restricted cash: Money market funds $ 458,676 $ — $ — $ 458,676 International treasuries $ — $ 3,777 $ — $ 3,777 Liabilities Warrant liability — Private Placement Warrants $ — $ — $ 3,555 $ 3,555

Property and Equipment, net (Ta

Property and Equipment, net (Tables)	6 Months Ended
	Jun. 30, 2024
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment	Property and equipment, net consist of the following as of the periods indicated: (in thousands) Useful life (years) June 30, 2024 December 31, 2023 Leasehold improvements Shorter of remaining lease $ 12,263 $ 12,323 Machinery and equipment 2-5 8,332 8,597 Furniture and fixtures 2-7 6,320 5,903 Computers and equipment 3-5 5,533 5,479 Tooling 5 1,148 887 Autos and trucks 5 194 242 Construction in progress 227 748 Total property and equipment 34,017 34,179 Less: accumulated depreciation and amortization (24,299) (19,953) Property and equipment, net $ 9,718 $ 14,226

Goodwill and Intangible Asset_2

Goodwill and Intangible Assets, net (Tables)	6 Months Ended
	Jun. 30, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Goodwill	The changes in the carrying value of goodwill for the six months ended June 30, 2024 is as follows (in thousands): December 31, 2023 $ 125,818 Foreign currency translation impact (996) June 30, 2024 $ 124,822
Schedule of Intangible Assets	The gross carrying amount and accumulated amortization of the Company’s intangible assets, net, as of June 30, 2024 were as follows: (in thousands) Gross Accumulated Net Carrying Estimated Developed technology $ 91,629 $ (69,923) $ 21,706 3 - 10 Capitalized software 20,786 (6,005) 14,781 3 - 5 Customer relationships 18,297 (12,730) 5,567 5 - 10 Trademarks 11,588 (5,777) 5,811 15 Non-compete agreement 5,849 (2,133) 3,716 3 Patents 3,211 (631) 2,580 3 - 19 Total intangible assets $ 151,360 $ (97,199) $ 54,161 The gross carrying amount and accumulated amortization of the Company’s intangible assets, net, as of December 31, 2023 were as follows: (in thousands) Gross Accumulated Net Carrying Estimated Developed technology $ 91,629 $ (64,453) $ 27,176 3 - 10 Capitalized software 18,423 (4,078) 14,345 3 - 5 Customer relationships 18,809 (11,317) 7,492 5 - 10 Trademarks 11,521 (5,367) 6,154 15 Non-compete agreement 5,878 (1,530) 4,348 3 Patents 3,132 (524) 2,608 3 - 19 Total intangible assets $ 149,392 $ (87,269) $ 62,123

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Debt Disclosure [Abstract]
Schedule of Long-term Debt	The following is a summary of the Company’s Notes for the periods indicated: (in thousands) June 30, 2024 December 31, 2023 1.25% Convertible Notes due 2026 $ 557,700 $ 750,000 Unamortized debt issuance costs (7,075) (11,628) Net carrying value $ 550,625 $ 738,372

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2024
Share-Based Payment Arrangement [Abstract]
Schedule of Stock Based Compensation Expense	Share-based compensation expense was as follows for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands) 2024 2023 2024 2023 Cost of sales $ 130 $ 411 $ (274) $ 704 Selling and marketing 2,204 1,674 4,628 3,478 Research and development (628) 366 48 363 General and administrative 4,792 6,073 8,732 7,556 Total share-based compensation $ 6,498 $ 8,524 $ 13,134 $ 12,101

Net Income (Loss) Attributabl_2

Net Income (Loss) Attributable to Common Stockholders (Tables)	6 Months Ended
	Jun. 30, 2024
Earnings Per Share [Abstract]
Schedule of basic and diluted earnings per share	The following table sets forth the calculation of both basic and diluted net income (loss) per share as follows for the periods indicated: Three Months Ended June 30, Six Months Ended June 30, (in thousands, except share and per share amounts) 2024 2023 2024 2023 Net income (loss) available to common stockholders - basic $ 202 $ 3,364 $ (477) $ (16,895) Adjustments related to Convertible Notes (1) (14,651) — (27,722) — Net (loss) income available to common stockholders - diluted $ (14,449) $ 3,364 $ (28,199) $ (16,895) Weighted average common shares outstanding - basic 123,718,797 132,716,024 123,417,353 132,569,209 Effect of dilutive shares: Convertible Notes 18,208,953 — 19,782,868 — Weighted average common shares outstanding - diluted 141,927,750 132,716,024 143,200,221 132,569,209 Basic net income (loss) per share: $ 0.00 $ 0.03 $ 0.00 $ (0.13) Dilutive net (loss) income per share: $ (0.10) $ 0.03 $ (0.20) $ (0.13) (1) For the three and six months ended June 30, 2024, the adjustments related to Convertible Notes include the net gain on repurchase offset by interest expense and amortization of debt issuance costs related to our Notes (net of taxes).
Schedule of Antidilutive Securities Excluded from Earnings Per Share Computation	The following shares have been excluded from the calculation of the weighted average diluted shares outstanding as the effect would have been anti-dilutive: Three Months Ended June 30, Six Months Ended June 30, 2024 2023 2024 2023 Convertible Notes — 23,614,425 — 23,614,425 Restricted Stock Units 7,050,916 4,518,083 7,050,916 4,518,083 Stock Options 3,617,970 4,294,507 3,617,970 4,294,507 Performance-based Restricted Stock Units 2,302,162 2,168,560 2,302,162 2,168,560

Syndeo Program (Tables)

Syndeo Program (Tables)	6 Months Ended
	Jun. 30, 2024
Syndeo Program [Abstract]
Schedule of Syndeo Program charges and Usage	The following table summarizes the Syndeo Program usage for the three and six months ended June 30, 2024 (in thousands): Program liability as of December 31, 2023 $ 21,009 Usage (12,695) Program liability as of March 31, 2024 $ 8,314 Usage (7,402) Program liability as of June 30, 2024 $ 912

Description of Business (Detail

Description of Business (Details) - $ / shares	Jun. 30, 2024	Dec. 31, 2023	May 04, 2021
Business Acquisition [Line Items]
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001	$ 0.0001
Hydrafacial
Business Acquisition [Line Items]
Percentage of voting interests acquired			100%
Merger Sub II
Business Acquisition [Line Items]
Percentage of voting interests acquired			100%
Hydrafacial And Subsidiaries
Business Acquisition [Line Items]
Percentage of voting interests acquired			100%

Revenue - Narrative (Details)

Revenue - Narrative (Details)	6 Months Ended
	Jun. 30, 2024 segment
Revenue from Contract with Customer [Abstract]
Number of operating segments	1
Number of reportable segments	1

Revenue - Revenue Disaggregated

Revenue - Revenue Disaggregated (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 90,594	$ 117,479	$ 171,997	$ 203,757
Delivery Systems
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	35,209	65,590	70,992	110,943
Consumables
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 55,385	$ 51,889	$ 101,005	$ 92,814

Revenue - Geographic Region (De

Revenue - Geographic Region (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 90,594	$ 117,479	$ 171,997	$ 203,757
Americas
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	57,731	63,644	108,057	116,622
Asia-Pacific (“APAC”)
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	13,635	25,248	25,607	38,868
Europe, the Middle East and Africa (“EMEA”)
Disaggregation of Revenue [Line Items]
Revenue from contract with customer	$ 19,228	$ 28,587	$ 38,333	$ 48,267

Balance Sheet Components - Sche

Balance Sheet Components - Schedule of inventory (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Raw materials	$ 23,907	$ 24,406
Finished goods	53,236	66,915
Total inventories	$ 77,143	$ 91,321

Balance Sheet Components - Narr

Balance Sheet Components - Narrative (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Inventory Disclosure [Abstract]
Inventory write-down	$ 19,304	$ 4,365
Non-trade receivables	9,000		$ 15,000
Warranty reserve	7,000		6,000
Accrued expenses	5,000		4,000
Long-term liabilities	2,000		$ 2,000
Restricted cash	$ 2,000

Balance Sheet Components - Sc_2

Balance Sheet Components - Schedule of accrued payroll-related expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Accrued compensation and payroll taxes	$ 9,323	$ 10,458
Accrued sales commissions	5,492	7,565
Accrued benefits	2,331	4,005
Total accrued payroll-related expenses	$ 17,146	$ 22,028

Balance Sheet Components - Sc_3

Balance Sheet Components - Schedule of accrued expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Inventory Disclosure [Abstract]
Sales and VAT tax payables	$ 4,798	$ 4,971
Deferred revenue	3,875	450
Royalty liabilities	3,769	3,914
Accrued interest	1,719	2,344
Other	9,883	8,167
Total other accrued expenses	$ 24,044	$ 19,846

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of assets and liabilities measured at fair value on recurring basis (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Liabilities
Warrant liabilities	$ 976	$ 3,555
Recurring | Private Placement Warrants
Liabilities
Warrant liabilities	976	3,555
Recurring | Money market funds
Assets
Cash, cash equivalents, and restricted cash:	282,257	458,676
Recurring | International treasuries
Assets
Cash, cash equivalents, and restricted cash:	3,747	3,777
Recurring | Level 1 | Private Placement Warrants
Liabilities
Warrant liabilities	0	0
Recurring | Level 1 | Money market funds
Assets
Cash, cash equivalents, and restricted cash:	282,257	458,676
Recurring | Level 1 | International treasuries
Assets
Cash, cash equivalents, and restricted cash:	0	0
Recurring | Level 2 | Private Placement Warrants
Liabilities
Warrant liabilities	0	0
Recurring | Level 2 | Money market funds
Assets
Cash, cash equivalents, and restricted cash:	0	0
Recurring | Level 2 | International treasuries
Assets
Cash, cash equivalents, and restricted cash:	3,747	3,777
Recurring | Level 3 | Private Placement Warrants
Liabilities
Warrant liabilities	976	3,555
Recurring | Level 3 | Money market funds
Assets
Cash, cash equivalents, and restricted cash:	0	0
Recurring | Level 3 | International treasuries
Assets
Cash, cash equivalents, and restricted cash:	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) - Private Placement Warrants - $ / shares	Jun. 30, 2024	Dec. 31, 2023	Oct. 31, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants outstanding (in shares)	7,000,000	7,000,000	9,333,333
Warrants, exercise price (in dollars per share)			$ 11.50

Property and Equipment, net (De

Property and Equipment, net (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization	$ (24,299)	$ (19,953)
Property and equipment, net	9,718	14,226
Depreciable property and equipment
Property, Plant and Equipment [Line Items]
Plant and equipment, including finance lease, gross	34,017	34,179
Leasehold improvements
Property, Plant and Equipment [Line Items]
Plant and equipment, including finance lease, gross	12,263	12,323
Machinery and equipment
Property, Plant and Equipment [Line Items]
Plant and equipment, including finance lease, gross	$ 8,332	8,597
Machinery and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life (years)	2 years
Machinery and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life (years)	5 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Plant and equipment, including finance lease, gross	$ 6,320	5,903
Furniture and fixtures | Minimum
Property, Plant and Equipment [Line Items]
Useful life (years)	2 years
Furniture and fixtures | Maximum
Property, Plant and Equipment [Line Items]
Useful life (years)	7 years
Computers and equipment
Property, Plant and Equipment [Line Items]
Plant and equipment, including finance lease, gross	$ 5,533	5,479
Computers and equipment | Minimum
Property, Plant and Equipment [Line Items]
Useful life (years)	3 years
Computers and equipment | Maximum
Property, Plant and Equipment [Line Items]
Useful life (years)	5 years
Tooling
Property, Plant and Equipment [Line Items]
Useful life (years)	5 years
Plant and equipment, including finance lease, gross	$ 1,148	887
Autos and trucks
Property, Plant and Equipment [Line Items]
Useful life (years)	5 years
Plant and equipment, including finance lease, gross	$ 194	242
Construction in progress
Property, Plant and Equipment [Line Items]
Plant and equipment, including finance lease, gross	$ 227	$ 748

Goodwill and Intangible Asset_3

Goodwill and Intangible Assets, net - Goodwill (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2024 USD ($)
Goodwill [Roll Forward]
Beginning balance	$ 125,818
Foreign currency translation impact	(996)
Ending balance	$ 124,822

Goodwill and Intangible Asset_4

Goodwill and Intangible Assets, net - Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Feb. 28, 2023
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 151,360	$ 149,392
Accumulated Amortization	(97,199)	(87,269)
Net Carrying Value	54,161	62,123
Developed technology
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	91,629	91,629
Accumulated Amortization	(69,923)	(64,453)
Net Carrying Value	$ 21,706	$ 27,176	$ 19,900
Developed technology | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	3 years	3 years
Developed technology | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	10 years	10 years
Capitalized software
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 20,786	$ 18,423
Accumulated Amortization	(6,005)	(4,078)
Net Carrying Value	$ 14,781	$ 14,345
Capitalized software | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	3 years	3 years
Capitalized software | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	5 years	5 years
Customer relationships
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 18,297	$ 18,809
Accumulated Amortization	(12,730)	(11,317)
Net Carrying Value	$ 5,567	$ 7,492
Customer relationships | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	5 years	5 years
Customer relationships | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	10 years	10 years
Trademarks
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 11,588	$ 11,521
Accumulated Amortization	(5,777)	(5,367)
Net Carrying Value	$ 5,811	$ 6,154
Estimated Useful Life (Years)	15 years	15 years
Non-compete agreement
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 5,849	$ 5,878
Accumulated Amortization	(2,133)	(1,530)
Net Carrying Value	$ 3,716	$ 4,348
Estimated Useful Life (Years)	3 years	3 years
Patents
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 3,211	$ 3,132
Accumulated Amortization	(631)	(524)
Net Carrying Value	$ 2,580	$ 2,608
Patents | Minimum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	3 years	3 years
Patents | Maximum
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	19 years	19 years

Goodwill and Intangible Asset_5

Goodwill and Intangible Assets, net - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended
	Jul. 31, 2023	Mar. 31, 2023	Feb. 28, 2023	Jun. 30, 2024	Dec. 31, 2023
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net				$ 54,161	$ 62,123
Developed technology
Finite-Lived Intangible Assets [Line Items]
Intangible assets, net			$ 19,900	$ 21,706	$ 27,176
Esthetic Medical Inc.
Finite-Lived Intangible Assets [Line Items]
Asset acquisition, consideration transferred			$ 11,800
Asset acquisition, equity consideration (in shares)			109,625
Asset acquisition, equity interest value			$ 1,300
Asset acquisition, contingent consideration (up to)			3,200
Consideration considered probable as of the acquisition date			1,900
Asset acquisition, intangible assets tax basis acquired in excess of purchase price			$ 4,600
Increase in contingency payments	$ 1,300
Anacapa Aesthetics LLC
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired		$ 5,000

Long-Term Debt - Narrative (Det

Long-Term Debt - Narrative (Details) - USD ($)			3 Months Ended		6 Months Ended
	Sep. 14, 2021	Sep. 09, 2021	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023	Nov. 14, 2022
Debt Instrument [Line Items]
Debt instrument, repurchased face amount			$ 192,300,000		$ 192,300,000
Repurchase of convertible senior notes					156,082,000	$ 0
Gain on extinguishment of debt					33,411,000	$ 0
Prepaid prior to April 10, 2021
Debt Instrument [Line Items]
Debt instrument, repurchased face amount				$ 75,000,000
Debt instrument, redemption price, percentage				77%
Repurchase of convertible senior notes				$ 57,800,000
Gain on extinguishment of debt				16,100,000
Write off of deferred finance costs				$ (1,200,000)
Prepaid between April 11, 2021 and April 10, 2022
Debt Instrument [Line Items]
Debt instrument, repurchased face amount			$ 117,300,000		$ 117,300,000
Debt instrument, redemption price, percentage			84%
Repurchase of convertible senior notes			$ 98,300,000
Gain on extinguishment of debt			17,300,000
Write off of deferred finance costs			$ (1,600,000)
Call option
Debt Instrument [Line Items]
Initial cap price (in dollars per share)		$ 47.94
Premium over sales price		100%
Purchase of capped calls		$ 90,200,000
1.25% Convertible Senior Notes Due 2026 | Convertible Debt
Debt Instrument [Line Items]
Face amount	$ 750,000,000
Stated interest rate	1.25%		1.25%		1.25%
Accordion feature, settlement period	13 days
Accordion feature, increase limit	$ 100,000,000
Net carrying value			$ 550,625,000		$ 550,625,000		$ 738,372,000
1.25% Convertible Senior Notes Due 2026 | Convertible Debt | Level 2
Debt Instrument [Line Items]
Convertible debt			464,000,000		464,000,000		$ 558,000,000
Revolving credit facility | Credit Agreement Due 2026 | Line of credit
Debt Instrument [Line Items]
Maximum borrowing capacity								$ 50,000,000
Net carrying value			$ 0		$ 0

Long-Term Debt - Schedule of Lo

Long-Term Debt - Schedule of Long-term Debt (Details) - Convertible Debt - 1.25% Convertible Senior Notes Due 2026 - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023	Sep. 14, 2021
Debt Instrument [Line Items]
Stated interest rate	1.25%		1.25%
1.25% Convertible Notes due 2026	$ 557,700	$ 750,000
Unamortized debt issuance costs	(7,075)	(11,628)
Net carrying value	$ 550,625	$ 738,372

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Effective Income Tax Rate Reconciliation [Line Items]
Income tax benefit	$ (353)	$ (2,193)	$ (1,012)	$ (5,855)
Gross unrecognized tax benefits	1,400		1,400		$ 1,100
Foreign
Effective Income Tax Rate Reconciliation [Line Items]
Income tax benefit	(400)		(1,000)
Federal
Effective Income Tax Rate Reconciliation [Line Items]
Income tax benefit	$ 0		$ 0

Share-Based Compensation - Sche

Share-Based Compensation - Schedule of stock based compensation expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 6,498	$ 8,524	$ 13,134	$ 12,101
Cost of sales
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	130	411	(274)	704
Selling and marketing
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	2,204	1,674	4,628	3,478
Research and development
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	(628)	366	48	363
General and administrative
Share-based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Share-based compensation expense	$ 4,792	$ 6,073	$ 8,732	$ 7,556

Share-Based Compensation - Narr

Share-Based Compensation - Narrative (Details) $ in Millions	6 Months Ended
	Jun. 30, 2024 USD ($)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 44.8
Unrecognized compensation cost, period for recognition	1 year 10 months 24 days
Employee stock purchase plan | 2021 ESPP
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum employee subscription rate	10%

Commitments and Contingencies (

Commitments and Contingencies (Details)					6 Months Ended
	Jul. 08, 2024 patent	May 06, 2024 patent	Sep. 15, 2022 patent	Dec. 14, 2020 patent	Jun. 30, 2024 patent	Jan. 16, 2024 numberOfCompetitor
Edge Systems LLC v. Cartessa Aesthetics, LLC
Loss Contingencies [Line Items]
Number of patents infringed upon			3	5	3
Revised number of patents infringed upon				4
Securities Lass Action
Loss Contingencies [Line Items]
Number of competing motions for appointment | numberOfCompetitor						3
Medicreations
Loss Contingencies [Line Items]
Revised number of patents infringed upon		12
Aesthetic management partners | Subsequent Event
Loss Contingencies [Line Items]
Revised number of patents infringed upon	5

Related-Party Transactions (Det

Related-Party Transactions (Details) - Related Party	May 04, 2021 tradingDay demand $ / shares shares
Related Party Transaction [Line Items]
Stock issued upon conversion (in shares) | shares	11,500,000
Registration rights agreement, filing timeline	60 days
Registration rights agreement, number of demands for registration allowed | demand	2
Private Placement Warrants
Related Party Transaction [Line Items]
Reverse recapitalization, contingent consideration, earnout period	30 days
Vesper Founders
Related Party Transaction [Line Items]
Reverse recapitalization, contingent consideration, earnout period	1 year
Reverse recapitalization, contingent consideration, stock price trigger (in dollars per share) | $ / shares	$ 12
Reverse recapitalization, contingent consideration, threshold days	20
Reverse recapitalization, contingent consideration, consecutive threshold days	30
Reverse recapitalization, contingent consideration, commencement period	150 days
LCP
Related Party Transaction [Line Items]
Reverse recapitalization, threshold percentage to designate one director	10%
Reverse recapitalization, threshold percentage to designate two directors	15%
Reverse recapitalization, threshold percentage to designate three directors	40%
Reverse recapitalization, threshold percentage to designate one director on board	10%

Stockholders_ Equity (Details)

Stockholders’ Equity (Details)	3 Months Ended	6 Months Ended	12 Months Ended
	Jun. 30, 2024 vote $ / shares shares	Jun. 30, 2024 vote $ / shares shares	Dec. 31, 2023 USD ($) $ / shares shares	Sep. 12, 2023 USD ($)	May 04, 2021 $ / shares
Class of Stock [Line Items]
Common stock, shares authorized (in shares)	320,000,000	320,000,000	320,000,000
Common stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001	$ 0.0001		$ 0.0001
Common stock, number of votes | vote	1	1
Common stock, shares outstanding (in shares)	123,993,785	123,993,785	122,899,002
Common stock, shares issued (in shares)	123,993,785	123,993,785	122,899,002
Preferred stock, shares authorized (in shares)	1,000,000	1,000,000
Preferred stock, par value (in dollars per share) | $ / shares	$ 0.0001	$ 0.0001
Preferred stock, shares issued (in shares)	0	0	0
Preferred stock, shares outstanding (in shares)	0	0	0
Class A Common Stock
Class of Stock [Line Items]
Common stock repurchase authorized | $				$ 100,000,000
Shares repurchased and retired (in shares)	0	0	10,400,000
Shares repurchased and retired | $			$ 30,200,000

Net Income (Loss) Attributabl_3

Net Income (Loss) Attributable to Common Stockholders - Schedule of basic and diluted earnings per share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Earnings Per Share [Abstract]
Net income (loss) available to common stockholders - basic	$ 202	$ 3,364	$ (477)	$ (16,895)
Adjustments related to Convertible Notes	(14,651)	0	(27,722)	0
Net (loss) income available to common stockholders - diluted	$ (14,449)	$ 3,364	$ (28,199)	$ (16,895)
Weighted average common shares outstanding - basic (in shares)	123,718,797	132,716,024	123,417,353	132,569,209
Effect of dilutive shares, Convertible Notes (in shares)	18,208,953	0	19,782,868	0
Weighted average common shares outstanding - diluted (in shares)	141,927,750	132,716,024	143,200,221	132,569,209
Basic net income (loss) per share: (in dollars per share)	$ 0	$ 0.03	$ 0	$ (0.13)
Diluted net (loss) income per share: (in dollars per share)	$ (0.10)	$ 0.03	$ (0.20)	$ (0.13)

Net Income (Loss) Attributabl_4

Net Income (Loss) Attributable to Common Stockholders - Schedule of antidilutive securities excluded from earnings per share computation (Details) - shares	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Convertible Notes
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	0	23,614,425	0	23,614,425
Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	7,050,916	4,518,083	7,050,916	4,518,083
Stock Options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	3,617,970,000	4,294,507,000	3,617,970	4,294,507
Performance-based Restricted Stock Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded (in shares)	2,302,162	2,168,560	2,302,162	2,168,560

Syndeo Program (Details)

Syndeo Program (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Syndeo Program [Line Items]
Syndeo Program reserves	$ 912	$ 8,314	$ 21,009
Syndeo Program
Syndeo Program [Line Items]
Warranty extension period	1 year
Syndeo Program reserves			$ 21,000

Syndeo Program - Summary of Syn

Syndeo Program - Summary of Syndeo Program charges and Usage (Details) - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Dec. 31, 2023
Program Reserves [Roll Forward]
Program liability as of December 31, 2023	$ 912	$ 8,314	$ 21,009
Usage	(7,402)	(12,695)
Program liability as of March 31, 2024	$ 912	$ 8,314	$ 21,009