The Beauty Tech Group (LON:TBTG) Releases Quarterly Earnings Results

The Beauty Tech Group (LON:TBTGGet Free Report) announced its quarterly earnings data on Thursday. The beauty technology company reported GBX 11.80 EPS for the quarter, Digital Look Earnings reports.

Here are the key takeaways from The Beauty Tech Group’s conference call:

  • Strong first-half growth: Revenue rose 44.3% to £79.7 million and adjusted EBITDA increased 53% to £21.3 million, supported by a 3.6-point improvement in gross margin to 64.4%.
  • Management raised full-year adjusted EBITDA guidance to at least £48.5 million while maintaining revenue guidance of at least £170 million. The group ended the period debt-free with £52 million of net cash and plans to begin a share buyback in the second half.
  • Growth was broad-based, with revenue increasing across every region; Europe rose 48%, Asia 57%, the U.S. and Canada 37%, and the rest of the world 136%. CurrentBody Skin, representing 89% of group revenue, grew 45% to £71.1 million.
  • The company is preparing a major second-half launch program, including its third-generation LED range, expanded ZIIP Beauty products and further Tria Laser products. Management expects the new products to support longer-term growth, but noted operational risks as it transitions from Series 2 to Series 3 and manages retailer inventory.
  • ZIIP Beauty recorded a £1.5 million stock provision after the company accelerated its improved product launch, reducing the brand’s reported gross margin to 49.8%. Overall stock provisions increased by £2.7 million in the half, while second-half cash flow will be affected by peak-season inventory and launch-related spending.

The Beauty Tech Group Price Performance

LON TBTG traded up GBX 38 on Thursday, hitting GBX 388. 3,147,271 shares of the stock were exchanged, compared to its average volume of 311,981. The company’s 50-day moving average price is GBX 349.10 and its two-hundred day moving average price is GBX 323.23. The Beauty Tech Group has a 52-week low of GBX 213 and a 52-week high of GBX 414. The company has a market capitalization of £412.06 million and a price-to-earnings ratio of 35.27.

Analysts Set New Price Targets

Several equities research analysts have recently commented on TBTG shares. Canaccord Genuity Group started coverage on The Beauty Tech Group in a report on Monday, July 27th. They set a “buy” rating and a GBX 545 target price for the company. Berenberg Bank lifted their price target on The Beauty Tech Group from GBX 550 to GBX 600 and gave the stock a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of GBX 572.50.

Check Out Our Latest Research Report on The Beauty Tech Group

The Beauty Tech Group Company Profile

(Get Free Report)

The Beauty Tech Group is a UK-headquartered beauty technology company focused on developing, marketing and selling clinically backed at-home beauty devices and related skincare products. The group operates a portfolio of category-leading brands, including CurrentBody Skin, ZIIP Beauty and Tria Laser, and offers products built around core aesthetic technologies used in professional settings, including LED light therapy, radio frequency, microcurrent and laser treatments.

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