2021 Q4 Form 10-K Financial Statement

#000181809322000046 Filed on March 01, 2022

View on sec.gov

Income Statement

Concept 2021 Q4 2021 2020 Q4
Revenue $77.89M $260.1M $0.00
YoY Change 118.39%
Cost Of Revenue $21.13M $78.26M $51.90M
YoY Change -59.29% 50.81%
Gross Profit $56.76M $181.8M $67.20M
YoY Change -15.53% 170.58%
Gross Profit Margin 72.87% 69.91%
Selling, General & Admin $58.77M $210.3M $81.00M
YoY Change -27.45% 159.68%
% of Gross Profit 103.53% 115.64% 120.54%
Research & Development $1.875M $8.195M $3.400M
YoY Change -44.85% 140.39%
% of Gross Profit 3.3% 4.51% 5.06%
Depreciation & Amortization $9.349M $4.486M $14.40M
YoY Change -35.08% 75.78%
% of Gross Profit 16.47% 2.47% 21.43%
Operating Expenses $63.97M $218.5M $1.210M
YoY Change 5187.02% 158.9%
Operating Profit -$7.212M -$36.64M $65.99M
YoY Change -110.93% 113.24%
Interest Expense -$2.894M -$11.78M $100.0K
YoY Change -2994.0% -44.64%
% of Operating Profit 0.15%
Other Income/Expense, Net -$6.142M -$340.7M $0.00
YoY Change 1499.51%
Pretax Income -$16.25M -$377.4M -$1.110M
YoY Change 1363.78% 880.56%
Income Tax $1.063M -$2.242M -$9.300M
% Of Pretax Income
Net Earnings -$17.31M -$375.1M -$1.110M
YoY Change 1459.55% 1185.72%
Net Earnings / Revenue -22.23% -144.22%
Basic Earnings Per Share -$3.67
Diluted Earnings Per Share -$117.9K -$3.67 -$21.39K
COMMON SHARES
Basic Shares Outstanding 149.6M shares 102.1M shares
Diluted Shares Outstanding 102.1M shares

Balance Sheet

Concept 2021 Q4 2021 2020 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $901.9M $901.9M $3.300M
YoY Change 27229.88% 27229.88%
Cash & Equivalents $901.9M $901.9M $9.486M
Short-Term Investments
Other Short-Term Assets $12.32M $12.32M $600.0K
YoY Change 1953.67% 1953.67%
Inventory $35.26M $35.26M $23.20M
Prepaid Expenses $3.220M
Receivables $46.82M $46.82M $18.58M
Other Receivables $4.599M $4.599M $4.600M
Total Short-Term Assets $1.001B $1.001B $59.10M
YoY Change 1593.7% 25563.9%
LONG-TERM ASSETS
Property, Plant & Equipment $31.18M $31.18M $9.191M
YoY Change 239.19% 238.86%
Goodwill $123.7M $98.53M
YoY Change 25.54% 0.01%
Intangibles
YoY Change
Long-Term Investments $460.1M
YoY Change
Other Assets $6.705M $7.035M $4.813M
YoY Change 39.31% 37.94%
Total Long-Term Assets $217.9M $217.9M $163.7M
YoY Change 33.09% -52.64%
TOTAL ASSETS
Total Short-Term Assets $1.001B $1.001B $59.10M
Total Long-Term Assets $217.9M $217.9M $163.7M
Total Assets $1.219B $1.219B $222.8M
YoY Change 446.95% 162.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $29.05M $29.05M $18.49M
YoY Change 57.15% 57.02%
Accrued Expenses $14.72M $47.10M $2.458M
YoY Change 498.94% 5787.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $0.00 $0.00 $500.0K
YoY Change -100.0% -100.0%
Total Short-Term Liabilities $76.44M $76.44M $30.93M
YoY Change 147.13% 9454.63%
LONG-TERM LIABILITIES
Long-Term Debt $729.9M $729.9M $0.00
YoY Change
Other Long-Term Liabilities $0.00 $106.6M $1.854M
YoY Change -100.0% 562.09%
Total Long-Term Liabilities $0.00 $836.5M $1.854M
YoY Change -100.0% 5095.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $76.44M $76.44M $30.93M
Total Long-Term Liabilities $0.00 $836.5M $1.854M
Total Liabilities $916.5M $916.5M $252.8M
YoY Change 262.55% 5323.13%
SHAREHOLDERS EQUITY
Retained Earnings -$418.7M -$43.60M
YoY Change 860.26%
Common Stock $16.00K $4.000K
YoY Change 300.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $302.3M $302.3M -$29.96M
YoY Change
Total Liabilities & Shareholders Equity $1.219B $1.219B $222.8M
YoY Change 446.95% 162.67%

Cashflow Statement

Concept 2021 Q4 2021 2020 Q4
OPERATING ACTIVITIES
Net Income -$17.31M -$375.1M -$1.110M
YoY Change 1459.55% 1185.72%
Depreciation, Depletion And Amortization $9.349M $4.486M $14.40M
YoY Change -35.08% 75.78%
Cash From Operating Activities $3.279M -$28.36M -$1.090M
YoY Change -400.83% 128.06%
INVESTING ACTIVITIES
Capital Expenditures -$8.530M $11.20M $3.820M
YoY Change -323.3% 219.94%
Acquisitions $22.90M
YoY Change
Other Investing Activities $0.00 -$22.12M -$460.0M
YoY Change -100.0% -95.19%
Cash From Investing Activities -$8.530M -$37.73M -$460.0M
YoY Change -98.15% 888.5%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net $0.00
YoY Change -100.0%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 188.2M $959.0M 464.3M
YoY Change -59.47% 5148.37%
NET CHANGE
Cash From Operating Activities 3.279M -$28.36M -1.090M
Cash From Investing Activities -8.530M -$37.73M -460.0M
Cash From Financing Activities 188.2M $959.0M 464.3M
Net Change In Cash 183.0M $892.9M 3.240M
YoY Change 5546.88% 44105.1%
FREE CASH FLOW
Cash From Operating Activities $3.279M -$28.36M -$1.090M
Capital Expenditures -$8.530M $11.20M $3.820M
Free Cash Flow $11.81M -$39.56M -$4.910M
YoY Change -340.51% 148.24%

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<div style="text-indent:9pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of estimates and assumptions in preparing consolidated financial statements</span></div><div style="text-indent:18pt"><span><br/></span></div><div style="text-indent:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In preparing its consolidated financial statements in conformity with GAAP, the Company makes assumptions, estimates, and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of net sales and expenses during the reported periods. On an ongoing basis, the Company evaluates its estimates, including, among others, those related to revenue related reserves, allowance for doubtful accounts, the realizability of inventory, fair value measurements including </span><span style="background-color:#ffffff;color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">common stock, warrant liabilities and earn-out shares liability </span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">valuations, useful lives of property and equipment, goodwill and finite-lived intangible </span></div>assets, accounting for income taxes, stock-based compensation expense and commitments and contingencies. The Company’s estimates are based on historical experience and on its future expectations that are believed to be reasonable. The combination of these factors forms the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from current estimates and those differences may be material.
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3300000 USD
CY2019 us-gaap Advertising Expense
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CY2021 us-gaap Concentration Risk Credit Risk
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CY2021Q2 skin Common Stock Convertible Conversion Ratio
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1
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350000000 USD
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433000000 USD
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CY2021 skin Reverse Recapitalization Cash Paid To Shareholders
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CY2021Q2 skin Stock Issued During Period Shares Reverse Recapitalization
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35501743 shares
CY2021Q2 skin Stock Issued During Period Shares Reverse Recapitalization Working Capital Adjustment
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CY2019 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
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CY2021Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2020Q4 us-gaap Operating Leases Future Minimum Payments Due In Two Years
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CY2021 us-gaap Operating Lease Payments
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26000 USD
CY2021Q4 us-gaap Goodwill
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CY2020 skin Write Off And Amortization Of Deferred Debt Issuance Costs
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CY2021 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Income Tax Reconciliation Foreign Income Tax Rate Differential
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Foreign Income Tax Rate Differential
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CY2021 us-gaap Income Tax Reconciliation Tax Credits Research
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Tax Credits Research
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CY2020 us-gaap Income Tax Reconciliation Tax Credits Research
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CY2021 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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CY2021 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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CY2020 us-gaap Income Tax Reconciliation Change In Enacted Tax Rate
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CY2020 us-gaap Effective Income Tax Rate Reconciliation Change In Enacted Tax Rate
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0 USD
CY2021Q4 skin Deferred Tax Assets Leasing Arrangements
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4104000 USD
CY2020Q4 skin Deferred Tax Assets Leasing Arrangements
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220000 USD
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54000 USD
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21008000 USD
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7160000 USD
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