Beauty Health Co
For the period ended Dec 31, 2023. Filed Mar 12, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Mar 12, 2024
SKIN$15.94-4.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Item 8. Consolidated Statements of Cash Flows
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Cash flows from operating activities: | |||
| Net (loss) income | $(100,116) | $44,224 | $(378,764) |
| Adjustments to reconcile net (loss) income to net cash from operating activities | |||
| Share-based compensation | 22,544 | 28,495 | 12,418 |
| Amortization of intangible assets | 20,907 | 14,852 | 13,297 |
| Depreciation of property and equipment | 11,332 | 7,164 | 4,486 |
| Amortization of other assets | 2,436 | 857 | 147 |
| Amortization of debt issuance costs | 4,229 | 4,229 | 4,061 |
| Syndeo inventory write-down | 19,568 | — | — |
| Inventory write-down | 18,272 | 5,144 | 1,134 |
| Provision for estimated credit losses | 5,153 | 1,622 | 854 |
| Change in fair value adjustment of warrant liabilities | (11,919) | (78,343) | 277,315 |
| Change in fair value adjustment of earn-out shares | — | — | 47,100 |
| Other, net | 5,988 | 10,423 | 5,733 |
| Changes in operating assets and liabilities: | |||
| Accounts receivable | 16,520 | (32,025) | (31,013) |
| Inventories | (22,617) | (84,363) | (7,288) |
| Income taxes receivable | (3,666) | 3,871 | 35 |
| Prepaid expenses and other current assets | (3,285) | (17,718) | (5,067) |
| Accounts payable | 15,783 | (262) | 10,523 |
| Accrued payroll and other expenses | 26,936 | (3,357) | 24,784 |
| Income taxes payable | 1,282 | 665 | (594) |
| Other, net | (7,597) | (12,078) | (7,522) |
| Net cash provided by (used for) operating activities | 21,750 | (106,600) | (28,361) |
| Cash flows used in investing activities: | |||
| Cash paid for intangible assets | (9,224) | (6,547) | (4,415) |
| Cash paid for property and equipment | (3,825) | (10,847) | (11,201) |
| Cash paid for asset acquisitions | (18,458) | (1,475) | — |
| Cash paid for business acquisition | — | — | (22,896) |
| Other, net | — | — | 781 |
| Net cash used for investing activities | (31,507) | (18,869) | (37,731) |
| Cash flows from financing activities: | |||
| Repurchases of Class A Common Shares | (30,155) | (160,000) | — |
| Payment of accelerated share repurchases | (2,240) | — | — |
| Payment of tax withholdings on vested stock awards | (3,234) | (927) | — |
| Payment of contingent consideration related to acquisitions | (1,819) | — | — |
| Proceeds from issuance of convertible senior notes | — | — | 750,000 |
| Purchase of capped calls related to convertible senior notes | — | — | (90,150) |
| Proceeds from exercise of warrants | — | — | 188,378 |
| Proceeds from revolving facility | — | — | 5,000 |
| Repayment of revolving facility | — | — | (5,000) |
The accompanying notes are an integral part of these consolidated financial statements
(in thousands)
| Year Ended December 31, | |||
|---|---|---|---|
| 2023 | 2022 | 2021 | |
| Payment of debt issuance costs | — | — | (21,341) |
| Repayment of term loan | — | — | (225,486) |
| Proceed from Business Combination | — | — | 357,634 |
| Advanced payment for equity forward contract | — | (40,000) | — |
| Other, net | — | (4,315) | — |
| Net cash (used for) provided by financing activities | (37,448) | (205,242) | 959,035 |
| Net change in cash and cash equivalents | (47,205) | (330,711) | 892,943 |
| Effect of foreign currency translation on cash | 2,033 | (2,978) | (543) |
| Cash and cash equivalents, beginning of period | 568,197 | 901,886 | 9,486 |
| Cash and cash equivalents, end of period | $523,025 | $568,197 | $901,886 |
| Supplemental disclosures of cash flow information and non-cash investing and financing activities: | |||
| Cash paid for interest | $9,375 | $9,818 | $10,249 |
| Class A Common Stock issued for asset acquisition | 1,310 | 500 | — |
| Cash paid (received) for income taxes | 2,269 | (1,339) | 1,700 |
| Issuance of earn-out shares | — | — | 136,575 |
| Trade receivables due from seller | — | — | 6,623 |
| Notes payable to seller | — | — | 2,153 |
| Contingent consideration | — | — | 783 |
| Issuance of Class A Common Stock in connection with business acquisitions | — | — | 9,341 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.