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The Beauty Health Company’s Financial Misstatements Stretch Into Third Year
Personal care firm corrects more than six dozen accounting errors impacting financial statements back to 2021.
August 10, 2023
Five months after filing its annual report The Beauty Health Company (SKIN), a skin health firm, revealed it misstated its financials for the last two years included in the report. The company says the prior period misstatements are related to the elimination of intercompany balances and right of return assets.
The Beauty Health Company corrected its annual financial statements for 2021 and 2022 and the first quarter of 2023.
The company corrected nearly seven dozen misstatements including:
—Understated net loss $3.2 million, or 8% in 2021
—Understated net loss $1.5 million, or 5.8% in 2022
—Overstated net loss $2 million, or 9.9% in the first quarter 2023
Management says the misstatements are not material.
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