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The Beauty Health Company

Beauty / aesthetic devicesUSA
New to Unitard
📉 Public < $1B
Peak $4 BillionRecorded estimate
~-96%
from peak
  1. 🦄
    Became a unicorn
    2021
  2. 📈
    Peak valuation
    $4 Billion ’21
  3. 💔
    Became a Unitard
    2022
  4. 💸
    Last valuation estimate
    ~$160M
Current status
Public (Nasdaq: SKIN)

The rise & fall

5 moments · 2021–2023

The key moments.

May 2021
De-SPAC debut on Nasdaq
Hydrafacial's maker goes public by merging with Brent Saunders' Vesper Healthcare SPAC.
SEC filing
2021
The peak: ~$4B$4B
The stock's late-2021 high near $28 lifts the facial-machine maker to roughly $4B.
stockanalysis
2022
The aesthetics market cools
Device sales slump as the post-SPAC glow fades.
stockanalysis
2022
Slips out of the club
The stock's slide takes the market cap below $1B.
stockanalysis
2023
A costly device recall
Recalling its newest delivery-system machines deepens the slump.
SEC filing

How it happened

The Beauty Health Company makes Hydrafacial, the popular facial-treatment system sold to spas and dermatology clinics, along with other aesthetic devices. It went public in May 2021 via a SPAC merger with Brent Saunders' Vesper Healthcare Acquisition Corp, and its stock soared to lift its market value to roughly $4B by late 2021.

A device-sales slump, recalls and a cooling aesthetics market then crushed it; the stock fell about 96%, leaving Beauty Health worth around $150M — a fraction of its peak.

Source: stockanalysis / PitchBook / SEC (SPAC merger with Vesper Healthcare Acquisition Corp May 2021; ATH ~$28 late 2021 (~$4B); ~$147M market cap by 2026, -96%; device sales slumped)

Who ran it

  • Pedro Malha
    President & CEO
    Now President & CEO at SkinHealth SystemsLinkedIn ↗

Current roles as self-reported on LinkedIn, retrieved 2026-08-19. See our methodology.

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