SkinHealth Systems Inc.
SkinHealth Systems Inc. operates in the Medical Equipment & Supplies industry, generating revenue through the sale of advanced skincare devices and proprietary consumables, anchored by the Hydrafacial treatment platform.
Business. SkinHealth Systems Inc. (Nasdaq: SKIN) is a healthcare company engaged in the medical devices industry, specifically within the medical equipment and supplies sector. The firm operates on a product-sale revenue model. As segment and geographic breakdowns are not provided, the company is described at the industry level. It is primarily listed on the Nasdaq stock exchange.
Analyst recommendations
9 analysts · consensus HoldAt a glance
What drives this business
The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.
News & coverage
1Sector rotation
Developing storylines
Analysis
AI analysisOpportunity
Upcoming catalysts
Scheduled public events. Informational only — not investment advice.
- Company
- EarningsQ3 2026 earnings (expected)2026-10-28 · estimated
- Macro
- Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
- Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
- Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
- Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
- Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
- Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
- Macro & political
- ElectionSE Swedish Election2026-09-14 · SE
- ElectionUS U.S. Midterms2026-11-03 · US
- ElectionFR French Legislative2027-06-01 · FR
Pre-earnings brief
SkinHealth Systems Inc. (SKIN) saw three new institutional investors add positions as of March 31, 2026, marking a notable shift in holder activity. The additions include an investor holding 2,241,596 shares valued at approximately $2.0 million, another with 290,550 shares worth roughly $0.26 million, and a third holding 947 shares valued at less than $1,000. These changes were detected on June 20, 2026, and represent the most material recent development in the company’s ownership structure. The entry of these new holders brings the total number of top holders to 22, reflecting a broadening base of institutional interest. While the absolute share counts vary significantly among the new investors, the presence of a multi-million-dollar position suggests growing attention from larger funds. This expansion in holder count may indicate increased visibility or strategic positioning by investors ahead of upcoming earnings or operational updates. Despite the new holder activity, the company’s market share remained effectively unchanged, dipping slightly from 0.01186% to 0.01183%. This minimal fluctuation suggests that the new investments are not yet translating into broader market dominance or significant competitive shifts. The stability in market share underscores that SKIN’s position in its sector remains niche, with limited immediate impact from the recent holder additions. The company continues to operate with a lean leadership structure, maintaining only one officer, and lacks analyst coverage or index membership. With no material changes reported in its core operational metrics or strategic direction, the recent holder activity stands out as the primary catalyst for investor attention. As SKIN navigates this period of evolving ownership, the significance of these new positions will likely depend on future disclosures and performance trends.
Signals & dispatch
Composite-score breakdown
Synthesis
SkinHealth Systems Inc. (Nasdaq: SKIN) is a healthcare company engaged in the medical devices industry, specifically within the medical equipment and supplies sector. The firm operates on a product-sale revenue model. As segment and geographic breakdowns are not provided, the company is described at the industry level. It is primarily listed on the Nasdaq stock exchange.
SkinHealth Systems maintains a debt-free capital structure with a debt-to-equity ratio of 0.0 and a current ratio of 1.79, indicating adequate short-term liquidity coverage. The balance sheet holds $523.0 million in cash and equivalents against total liabilities of $418.0 million, providing a substantial buffer despite negative operating cash flow of $5.6 million in Q1 2026. The company’s market capitalization stands at $123.9 million, trading at a negative EV/Revenue multiple of -1.33, reflecting its current unprofitability.
Profitability remains negative, with a net loss of $6.6 million in Q1 2026, resulting in a return on equity of -17.2% and return on assets of -2.0%. Gross profit was $44.4 million on revenue of $64.9 million, yielding a gross margin of approximately 68.5%, which supports the high-margin consumables model. However, operating income was negative at -$1.8 million, driven by significant selling, general, and administrative expenses that outpaced gross profit generation.
Revenue is derived from two primary segments: Delivery Systems and Consumables, with geographic exposure across the Americas, EMEA, and Asia-Pacific. The business model relies on an omnichannel network of providers worldwide, leveraging the Hydrafacial brand as a leading professional skincare treatment. The company also offers complementary products such as SkinStylus microneedling and HydraScalp powered by Keravive.
Growth trajectory analysis is limited by the absence of multi-year historical revenue tables in the provided data, but Q1 2026 revenue of $64.9 million represents the latest normalized period performance. The company reported a net loss improvement compared to the prior year period, though specific year-over-year revenue growth rates are not explicitly detailed in the snapshot.
Risk factors include medium dilution risk, as source documents mention dilution or offering risk, and the presence of convertible debt instruments such as the 7.95% Convertible Senior Secured Notes due 2028. The company faces potential listing risk, as the stock price has fallen below the $1.00 minimum bid threshold for 64 consecutive days, triggering a high-severity alert for US continued-listing compliance.
Recent events include the repurchase of 2026 Notes for $20.2 million in Q1 2026, reducing debt obligations. Analyst sentiment is mixed, with a mean recommendation of 3.11 (Hold) and a mean price target of $1.34, suggesting modest upside potential from the current price of $0.94. The company also disclosed partial coverage in Companyfacts, with recent filing facts backfilling cash and equivalents data.
SkinHealth Systems Inc. (SKIN) saw three new institutional investors add positions as of March 31, 2026, marking a notable shift in holder activity. The additions include an investor holding 2,241,596 shares valued at approximately $2.0 million, another with 290,550 shares worth roughly $0.26 million, and a third holding 947 shares valued at less than $1,000. These changes were detected on June 20, 2026, and represent the most material recent development in the company’s ownership structure. The entry of these new holders brings the total number of top holders to 22, reflecting a broadening base of institutional interest. While the absolute share counts vary significantly among the new investors, the presence of a multi-million-dollar position suggests growing attention from larger funds. This expansion in holder count may indicate increased visibility or strategic positioning by investors ahead of upcoming earnings or operational updates. Despite the new holder activity, the company’s market share remained effectively unchanged, dipping slightly from 0.01186% to 0.01183%. This minimal fluctuation suggests that the new investments are not yet translating into broader market dominance or significant competitive shifts. The stability in market share underscores that SKIN’s position in its sector remains niche, with limited immediate impact from the recent holder additions. The company continues to operate with a lean leadership structure, maintaining only one officer, and lacks analyst coverage or index membership. With no material changes reported in its core operational metrics or strategic direction, the recent holder activity stands out as the primary catalyst for investor attention. As SKIN navigates this period of evolving ownership, the significance of these new positions will likely depend on future disclosures and performance trends.
- Strong liquidity position with $523.0 million in cash and zero debt, providing a robust buffer against operational losses.
- Negative profitability persists with a -17.2% ROE, driven by high operating expenses relative to gross profit.
- Listing risk is elevated due to the stock price remaining below $1.00 for 64 consecutive days, threatening Nasdaq compliance.
- Medium dilution risk exists due to outstanding convertible notes and potential equity offerings.
- Analyst consensus is neutral (3.11 mean recommendation) with a modest upside target of $1.34.
- Revenue model is anchored by high-margin Hydrafacial consumables, supported by a global provider network.
Bull / Bear case
Generated · model-assistedAnalysts project 70.5% upside to a mean price target of $1.61, significantly above the current market price of $0.94.
The company generated $37.2 million in free cash flow in FY2025, demonstrating strong cash generation despite ongoing net losses.
Capital expenditure intensity is minimal at 0.1% of revenue, well below the 2.4% cohort median, preserving cash for other uses.
Liquidity risk is assessed as low, supported by a current ratio of 1.66, indicating adequate short-term financial stability.
The company reported a net loss of $9.5 million in FY2025, continuing a pattern of unprofitability with negative net margins.
Cash conversion is in the bottom quartile of the cohort at -3.94, highlighting poor translation of earnings into cash.
Medium dilution risk exists, potentially eroding shareholder value through future equity issuances to fund operations or growth.
In focus — financials by report
Revenue $64.9M; Operating income -$1.8M.
- ▍Revenue $64.9M
- ▍Operating income -$1.8M
- ▍Net margin -10.2%
Revenue $218.4M; Operating income -$21.0M.
- ▍Revenue $218.4M
- ▍Operating income -$21.0M
- ▍Net margin -0.6%
Revenue $147.8M; Operating income -$14.7M.
- ▍Revenue $147.8M
- ▍Operating income -$14.7M
- ▍Net margin 6.5%
Revenue $300.8M; Operating income -$20.8M.
- ▍Revenue $300.8M
- ▍Operating income -$20.8M
- ▍Net margin -3.2%
Revenue $334.3M; Operating income -$67.8M.
- ▍Revenue $334.3M
- ▍Operating income -$67.8M
- ▍Net margin -8.7%
Revenue $334.3M; Operating income -$67.8M.
- ▍Revenue $334.3M
- ▍Operating income -$67.8M
- ▍Net margin -8.7%
Revenue $398.0M; Operating income -$130.9M.
- ▍Revenue $398.0M
- ▍Operating income -$130.9M
- ▍Net margin -25.2%
Revenue $398.0M; Operating income -$130.9M.
- ▍Revenue $398.0M
- ▍Operating income -$130.9M
- ▍Net margin -25.2%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | -0,14 |
| Revenue | —no estimate | —no estimate | 289,5M USD |
| Operating income | —no estimate | —no estimate | -1,8M USD |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Source documents mention dilution or offering risk.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Actions
Ask Handelsavisen
- Market data
- Regulatory filings
- Issuer disclosures
- Public news
- Earnings transcripts
- Consensus estimates
- ESG data
- Reference data
- Debt To Equity(short_term_debt + long_term_debt) / total_equity
- Ev To Revenueenterprise_value / revenue
- Market Capmarket_price * shares_outstanding_diluted
- Return On Assetsnet_income / total_assets
- Enterprise Valuemarket_cap - net_cash
- Cash Conversion Ratiooperating_cash_flow / net_income
- SkinHealth Systems Inc. company facts · 2026-07-12
- SkinHealth Systems Inc. 10-Q 2026-05-07 · 2026-07-12
- SkinHealth Systems Inc. 10-K 2026-03-12 · 2026-07-12
- SkinHealth Systems Inc. 10-Q 2025-11-06 · 2026-07-12
- SkinHealth Systems Inc. 10-Q 2025-08-07 · 2026-07-12
- ha_price_listing fired on SKIN · 2026-07-12
- Skinhealth Systems Inc Market data — analyst estimates · 2026-07-12
- Skinhealth Systems Inc Market data — ESG · 2026-07-12
- SkinHealth Systems Inc. HA canonical relationships · 2026-07-12
Ownership & reference
Top holders
- Institutional Investor · as of 2026-03-310,00 %$15M
- Investment Managers · as of 2024-06-300,00 %$11M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$2M
- Investment Managers · as of 2025-12-310,00 %$8M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$1M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$2M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2024-12-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Funds · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Brokerage Firms · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
- Brokerage Firms · as of 2026-03-310,00 %$0M
- Institutional Investor · as of 2026-03-310,00 %$0M
- Investment Managers · as of 2026-03-310,00 %$0M
Leadership
- Marla Malcolm BeckPresident, Chief Executive Officer, Director
Insider activity
- CSO and COO · Class A Common StockOther 24 904 @ $0,92$23K · 2026-04-09
- Chief Financial Officer · Class A Common StockOther 26 776 @ $0,92$25K · 2026-04-09
- Director, President and CEO · Class A Common StockOther 2 654 867 · 2026-03-20
- Chief Financial Officer · Class A Common StockOther 746 681 · 2026-03-20
- Chief Revenue Officer · Class A Common StockOther 746 681 · 2026-03-20
- CSO and COO · Class A Common StockOther 746 681 · 2026-03-20
- CSO and COO · Class A Common StockOther 51 883 @ $1,17$61K · 2026-03-17
- Chief Revenue Officer · Class A Common StockOther 61 471 @ $1,17$72K · 2026-03-17
- Chief Financial Officer · Class A Common StockOther 58 573 @ $1,17$69K · 2026-03-17
- Director · Class A Common StockOther 57 692 · 2025-11-13
- Chief Revenue Officer · Class A Common StockOther 46 426 @ $1,43$66K · 2025-11-01
- Director, President and CEO · Class A Common StockOther 1 228 846 @ $1,56$1,9M · 2025-10-09
- Director, President and CEO · Class A Common StockOther 961 538 @ $1,56$1,5M · 2025-10-09
- Chief Financial Officer · Class A Common StockOther 32 357 @ $1,89$61K · 2025-08-10
Short positioning
Geographic breakdown
Intel & risk
no material change vs prior analysis (walked 17 fields; 4 schema-expansion field(s) excluded)
- Narrative— → —medium
- Conclusion— → —medium
- Key takeaways— → —medium
- Company share pct— → —medium
Evidence & claims
From filings & derived data- Cost of revenue (YoY) (2025-12-31 vs 2024-12-31): -31.3%Derived (calculated)
- EPS (diluted) (YoY) (2025-12-31 vs 2024-12-31): 55.6%Derived (calculated)
- Operating income (YoY) (2025-12-31 vs 2024-12-31): 69.3%Derived (calculated)
- Total liabilities (YoY) (2025-12-31 vs 2024-12-31): -30.8%Derived (calculated)
- Total assets (YoY) (2025-12-31 vs 2024-12-31): -27.1%Derived (calculated)
- Shareholders' equity (YoY) (2025-12-31 vs 2024-12-31): 17.9%Derived (calculated)
- Revenue (YoY) (2025-12-31 vs 2024-12-31): -10.0%Derived (calculated)
- Operating cash flow (YoY) (2025-12-31 vs 2024-12-31): 132.3%Derived (calculated)
- Net income (YoY) (2025-12-31 vs 2024-12-31): 67.4%Derived (calculated)
- Net margin (FY 2025-12-31): -3.2%Derived (calculated)
- Gross margin (FY 2025-12-31): 65.3%Derived (calculated)
- Return on equity (FY 2025-12-31): -15.6%Derived (calculated)
- Return on assets (FY 2025-12-31): -1.9%Derived (calculated)
- Current ratio (FY 2025-12-31): 1.66xDerived (calculated)
- Debt-to-equity (FY 2025-12-31): 7.19xDerived (calculated)
- R&D expense (YoY) (2025-12-31 vs 2024-12-31): -10.6%Derived (calculated)
- Capex (YoY) (2025-12-31 vs 2024-12-31): -59.9%Derived (calculated)
- Gross profit (YoY) (2025-12-31 vs 2024-12-31): 7.7%Derived (calculated)
- EPS (basic) (YoY) (2025-12-31 vs 2024-12-31): 65.2%Derived (calculated)
- Total liabilities (annual): USD 438.75MSEC XBRL filing
- Cost of revenue (annual): USD 104.43MSEC XBRL filing
- Revenue (annual): USD 300.79MSEC XBRL filing
- Pre-tax income (annual): USD -5.94MSEC XBRL filing
- EPS (basic) (annual): USD-PER-SHARES -0SEC XBRL filing