The corporate’s ticker image additionally switched from VSPR to SKIN, a nod to the finished merger with Vesper Healthcare Acquisition Corp., a blank-check firm primarily based in Miami Seaside, Fla.
Magnificence Well being makes $30,000 gadgets that estheticians use to scrub and hydrate pores and skin utilizing patented know-how and serums. The corporate imports parts from China and performs remaining meeting at its amenities within the Lengthy Seaside space, totaling 150,000 sq. ft. About half of its income comes from what the corporate calls “consumables,” together with single-use merchandise such because the extraction suggestions that are available direct contact with a consumer’s pores and skin, in addition to hydration serums and its Keravive scalp therapy.
“With HydraFacial, we reworked right into a category-creating magnificence well being firm,” Chief Govt Clint Carnell mentioned in a press release. “As Magnificence Well being, we intend to proceed our international enlargement and produce extra modern merchandise to market.”
The corporate, which has a market worth of $3.1 billion, posted $66.5 million in income within the second quarter that ended June 30, a 371.2% bounce in comparison with $14.1 million in the identical prior-year quarter and up 57.1% in comparison with $42.3 million within the second quarter of 2019, “pushed by continued power within the U.S. and EMEA in addition to important development in APAC,” in response to the corporate.
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