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

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

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

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• 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 Stock Performance

Shares of LON TBTG opened at GBX 394.78 on Thursday. The business has a 50 day simple moving average of GBX 349.10 and a 200 day simple moving average of GBX 323.23. The Beauty Tech Group has a 52 week low of GBX 213 and a 52 week high of GBX 414. The stock has a market cap of £419.26 million and a price-to-earnings ratio of 35.89.

Analysts Set New Price Targets

TBTG has been the topic of a number of research reports. Canaccord Genuity Group initiated coverage on The Beauty Tech Group in a report on Monday, July 27th. They issued a “buy” rating and a GBX 545 target price on the stock. Berenberg Bank upped their price objective on shares of The Beauty Tech Group from GBX 550 to GBX 600 and gave the company a “buy” rating in a research note on Thursday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of GBX 572.50.

View Our Latest Analysis on TBTG

The Beauty Tech Group Company Profile

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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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