Revenue

9 Months Ended

Sep. 30, 2023

Revenue from Contract with Customer [Abstract]

Revenue

Revenue

The Company generates revenue primarily through manufacturing and selling Hydrafacial Delivery Systems (“Delivery Systems”) that cleanses, extracts, and hydrates the skin and the related serums, solutions, tips, and consumables (collectively, “Consumables”). Original Consumables are sold solely and exclusively by the Company (and from authorized retailers) and are available for purchase separately from the purchase of Delivery Systems. For both Delivery Systems and Consumables, revenue is recognized upon transfer of control to the customer. We use independent financing institutions to offer customers financing for the purchase of our products on a non-recourse basis. Under certain limited arrangements, which are not material, the customer’s receivable balance is with recourse whereby we are responsible for repaying the financing company should the customer default.

The Company manages its business on the basis of one operating segment and one reportable segment. As a result, the chief operating decision maker, who is the Chief Executive Officer, reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocating resources and evaluating financial performance.

The Company’s revenue disaggregated by major product line consists of the following for the periods indicated:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Net Sales
Delivery Systems	$	51,043	$	49,094	$	161,986	$	155,524
Consumables	46,370		39,698		139,184		112,219
Total net sales	$	97,413	$	88,792	$	301,170	$	267,743

Net sales by geographic region were as follows for the periods indicated:

	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands)	2023		2022		2023		2022
Americas	$	51,703	$	58,370	$	168,325	$	178,330
Asia-Pacific (“APAC”)	24,657		15,110		63,525		38,397
Europe, the Middle East and Africa (“EMEA”)	21,053		15,312		69,320		51,016
Total net sales	$	97,413	$	88,792	$	301,170	$	267,743

Delivery Systems net sales in the current and prior year were impacted regionally by the timing of the region’s respective Syndeo launch. Prior year net sales of delivery Systems in the Americas include the impact of the prior year launch of Syndeo, while the international Syndeo launch was during the three months ended June 30, 2023.