Beauty Health reports record Q3, raises FY21 guidance; CEO Clint Carnell to step down, Saunders to take over

SkinHealth Systems Inc.

Clint Carnell steps down as CEO and director effective Dec 31, 2021; Brent Saunders to assume CEO role from Jan 1, 2022.
Q3 net sales $68.1M (+97% YoY); delivery systems $36.2M, consumables $32.0M; adj. EBITDA $5.8M.
Net loss $215.1M due to non-cash warrant/earn-out liability changes; adjusted net income $2.5M.
FY21 guidance raised: net sales $245-255M (prior $230-240M); adj. EBITDA ~$30M (prior ~$25M).
Issued $750M 1.25% convertible notes due 2026; warrant redemption raised $185.4M cash.

item 2.02 item 7.01 item 5.02 item 9.01

Executive movements

Machine-extracted from this filing. Every card cites the SEC source. See all recent executive movements.

Appointed (interim)

Brenton L. Saunders

Chief Executive Officer

SKIN · SkinHealth Systems Inc.

Effective: 2022-01-01
Filed: November 9, 2021, 6:59 PM ET

The Board will appoint Brenton L. Saunders, currently Executive Chairman of the Board, to serve as the Company’s Chief Executive Officer, effective January 1, 2022, until a permanent successor is identified.

Departed

Clint Carnell

Chief Executive Officer

SKIN · SkinHealth Systems Inc.

Effective: 2021-12-31
Successor: Brenton L. Saunders
Filed: November 9, 2021, 6:59 PM ET

On November 9, 2021, by mutual agreement, the Board of Directors (the “Board”) of The Beauty Health Company (the “Company”) and Clint Carnell, the Company’s Chief Executive Officer and member of the Board, determined that Mr. Carnell would transition out of his roles as Chief Executive Officer and as a member of the Board, in each case, effective December 31, 2021.

Key facts

Extracted from this filing and checked against the source text.

Executive change SEC 8-K Item 5.02 confidence 0.95

Brenton L. Saunders was appointed as Chief Executive Officer at SkinHealth Systems Inc..

Action: appointed
Role: Chief Executive Officer

Exact text from the filing

The Board will appoint Brenton L. Saunders, currently Executive Chairman of the Board, to serve as the Company’s Chief Executive Officer, effective January 1, 2022, until a permanent successor is identified.

View on SEC.gov

Executive change SEC 8-K Item 5.02 confidence 0.95

Clint Carnell resigned as Chief Executive Officer at SkinHealth Systems Inc..

Action: resigned
Role: Chief Executive Officer

Exact text from the filing

On November 9, 2021, by mutual agreement, the Board of Directors (the “Board”) of The Beauty Health Company (the “Company”) and Clint Carnell, the Company’s Chief Executive Officer and member of the Board, determined that Mr. Carnell would transition out of his roles as Chief Executive Officer and as a member of the Board, in each case, effective December 31, 2021.

View on SEC.gov

SkinHealth Systems Inc. filing history →

Source: SEC EDGAR

accession 0001818093-21-000105

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