The company's financial position appears increasingly vulnerable, characterized by a high debt-to-equity ratio of 6.65 and a significant goodwill balance of $126.2 million that may be subject to impairment.
| Total Current Assets | 277.7M | 309.5M | 477.12M | 698.25M | 783.27M | 1B | 59.09M | 54.17M |
| Cash & Short-Term Investments | 204.4M | 232.7M | 370.06M | 523.02M | 568.2M | 901.89M | 9.49M | 7.31M |
| Cash Only | 204.4M | 232.7M | 370.06M | 523.02M | 568.2M | 901.89M | 9.49M | 7.31M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 20.25M | 23.44M | 28.46M | 55.03M | 77.77M | 51.42M | 23.19M | 23.72M |
| Days Sales Outstanding | 29.65 | 28.44 | 31.08 | 50.47 | 77.59 | 72.17 | 71.06 | 51.96 |
| Inventory | 47.7M | 48M | 69.11M | 91.32M | 109.66M | 35.26M | 23.2M | 19.43M |
| Days Inventory Outstanding | 185.29 | 167.77 | 165.96 | 137.24 | 341.81 | 157.82 | 163.2 | 118.01 |
| Other Current Assets | 5.35M | 5.36M | 9.49M | 28.88M | 27.65M | 0 | 2.58M | 0 |
| Total Non-Current Assets | 195.5M | 190.3M | 208.56M | 230.86M | 219.81M | 217.91M | 163.74M | 172.18M |
| Property, Plant & Equipment | 22.6M | 14.1M | 19.57M | 26.35M | 33.82M | 31.18M | 9.19M | 10.8M |
| Fixed Asset Turnover | 17.26x | 21.33x | 17.08x | 15.11x | 10.82x | 8.34x | 12.96x | 15.43x |
| Goodwill | 126.2M | 126.6M | 123.5M | 125.82M | 124.59M | 123.69M | 98.53M | 98.52M |
| Intangible Assets | 32.8M | 35.8M | 47.51M | 62.12M | 46.39M | 56.01M | 50.94M | 60.29M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 11.5M | 11.9M | 14.09M | 16.04M | 14.19M | 6.71M | 4.81M | 2.34M |
| Total Assets | 473.2M | 499.8M | 685.68M | 929.11M | 1B | 1.22B | 222.84M | 226.35M |
| Asset Turnover | 0.60x | 0.60x | 0.49x | 0.43x | 0.36x | 0.21x | 0.53x | 0.74x |
| Asset Growth % | -113.58% | -27.11% | -26.2% | -7.37% | -17.7% | 446.95% | -1.55% | - |
| Total Current Liabilities | 155.2M | 186.3M | 68.15M | 115.01M | 71.71M | 76.44M | 30.93M | 37.82M |
| Accounts Payable | 15.9M | 15.6M | 21.94M | 44.77M | 28.47M | 29.05M | 18.48M | 14.26M |
| Days Payables Outstanding | 63.02 | 54.53 | 52.69 | 67.28 | 88.73 | 130.02 | 130.02 | 86.57 |
| Short-Term Debt | 107.1M | 129.09M | 0 | 0 | 0 | 0 | 512K | 8.93M |
| Deferred Revenue (Current) | 706K | 0 | 2.38M | 450K | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 31.75M | 40.36M | 2.14M | 25.01M | 5.64M | 18.28M | 2.46M | 0 |
| Current Ratio | 1.79x | 1.66x | 7.00x | 6.07x | 10.92x | 13.09x | 1.91x | 1.43x |
| Quick Ratio | 1.48x | 1.40x | 5.99x | 5.28x | 9.39x | 12.63x | 1.16x | 0.92x |
| Cash Conversion Cycle | 151.92 | 141.69 | 144.35 | 120.43 | 330.66 | 99.97 | 104.24 | 83.4 |
| Total Non-Current Liabilities | 262.79M | 252.47M | 565.73M | 754.72M | 764.32M | 840.07M | 221.87M | 189.74M |
| Long-Term Debt | 241.28M | 240.43M | 552.2M | 738.37M | 734.14M | 729.91M | 216.02M | 180.85M |
| Capital Lease Obligations | 47.01M | 9.24M | 10.81M | 9.32M | 12.69M | 12.78M | 0 | 276K |
| Deferred Tax Liabilities | 1.11M | 393K | 396K | 702K | 2.01M | 3.56M | 3.99M | 8.29M |
| Other Non-Current Liabilities | 2.37M | 2.41M | 2.32M | 6.32M | 15.47M | 93.82M | 1.85M | 325K |
| Total Liabilities | 418M | 438.7M | 633.88M | 869.72M | 836.03M | 916.51M | 252.79M | 227.56M |
| Total Debt | 367.2M | 378.7M | 568.16M | 752.29M | 751.79M | 746.41M | 216.54M | 190.2M |
| Net Debt | 162.8M | 146M | 198.09M | 229.26M | 183.59M | -155.48M | 207.05M | 182.89M |
| Debt / Equity | 6.65x | 6.20x | 10.97x | 12.67x | 4.50x | 2.47x | - | - |
| Debt / EBITDA | 26.34x | 83.30x | - | - | - | - | - | 6.99x |
| Net Debt / EBITDA | 11.68x | 32.12x | - | - | - | - | - | 6.72x |
| Interest Coverage | 0.79x | 0.69x | -1.84x | -6.46x | 4.39x | -31.32x | -0.81x | 0.83x |
| Total Equity | 55.2M | 61.1M | 51.8M | 59.39M | 167.05M | 302.3M | -29.96M | -1.21M |
| Equity Growth % | 54.68% | 17.95% | -12.77% | -64.45% | -44.74% | 1109% | -2380.13% | - |
| Book Value per Share | 0.42 | 0.45 | 0.36 | 0.45 | 1.12 | 2.96 | -0.87 | -0.04 |
| Total Shareholders' Equity | 55.2M | 61.1M | 51.8M | 59.39M | 167.05M | 302.3M | -29.96M | -1.21M |
| Common Stock | 13K | 13K | 12K | 12K | 14K | 16K | 4K | 0 |
| Retained Earnings | -524.1M | -517.5M | -507.96M | -478.87M | -378.75M | -418.71M | -43.6M | -14.43M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.7M | -1.4M | -6.95M | -3.04M | -4.53M | -1.26M | 242K | 28K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
High leverage and liquidity
As reported in recent financial statements, total assets have declined from $929.1 million in 2023Q4 to $473.2 million in 2026Q1, signaling a significant contraction in the company's resource base as it struggles to stabilize operations and manage its ongoing hardware-related challenges.
The consistent decline in total assets, coupled with a persistent accumulation of retained earnings losses totaling $524.1 million, suggests that the company is consuming its capital base to fund operations. Investors should monitor whether this trajectory indicates a permanent impairment of the business model or a temporary phase of rightsizing.
Based on the company's reported figures, the debt-to-equity ratio remains elevated at 6.65 as of 2026Q1, reflecting a capital structure that is heavily reliant on debt financing despite the company's inability to generate consistent positive operating cash flows to service these obligations.
The high leverage ratio, particularly when viewed against the backdrop of negative operating margins, suggests that the company has limited room for error in its turnaround efforts. The reliance on debt to maintain the current scale warrants further investigation into potential covenant risks and the sustainability of the current financing arrangements.
According to quarterly filings, the company's cash position has decreased from $523.0 million in 2023Q4 to $204.4 million in 2026Q1, indicating that the firm is burning through its liquidity reserves at a rate that may necessitate future capital raises if operational performance does not improve.
While the current ratio of 1.79 provides a superficial sense of stability, the rapid depletion of cash reserves suggests that the company's liquidity position is becoming increasingly fragile. The inability to generate self-sustaining cash flow from operations implies that the current cash runway may be shorter than the headline figures suggest.
As indicated by the balance sheet data, goodwill remains a significant component of total assets at $126.2 million, which may be misleading given the company's recent revenue contraction and the ongoing technical reliability issues associated with the Syndeo hardware platform.
The presence of substantial goodwill on the balance sheet, despite the company's negative growth and profitability, suggests a potential risk of future impairment charges. Investors should consider whether the carrying value of these intangible assets accurately reflects the current market reality and the diminished prospects for the hardware-driven business model.
Quick answers to the most common questions about buying SKIN stock.
As of 2025, The Beauty Health Company (SKIN) had total assets of $499.8M including $309.5M in current assets.
The Beauty Health Company (SKIN) carries total debt of $378.7M, offset by $232.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
The Beauty Health Company (SKIN) has total shareholders' equity (book value) of $61.1M ($0.45 book value per share). Book value represents the net worth of the company belonging to common stock holders.
The Beauty Health Company (SKIN) reported a current ratio of 1.66x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.