SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2023

Segment Reporting [Abstract]

Reconciliation of Financial Measures of Segments to Consolidated Totals

The following is a reconciliation of financial measures of the Company’s segments to the consolidated totals:

	Year ended December 31, 2023						Period from July 28 to December 31, 2022
	Successor						Successor
(In thousands)	Obagi Skincare		Milk Makeup		Total		Obagi Skincare		Milk Makeup		Total
Net revenue	$	117,651	$	100,487	$	218,138	$	61,090	$	31,283	$	92,373
Cost of goods sold	41,069		35,492		76,561		44,973		15,684		60,657
Gross profit	$	76,582	$	64,995	$	141,577	$	16,117	$	15,599	$	31,716

Reconciliation of Segment Gross Profit to Net Income (Loss) Before Income Taxes

The following table reconciles segment gross profit to net income (loss) before income taxes for the year ended December 31, 2023 (Successor Period):

	Year ended December 31, 2023		Period from July 28 to December 31, 2022
(In thousands)	Successor
Gross profit	$	141,577	$	31,716
Selling, general and administrative	220,313		88,926
Research and development	3,195		1,796
Loss on impairment of goodwill	—		68,715
Interest expense, net	18,906		6,230
Change in fair value of derivative warrant liabilities	10,337		(6,793)
Other expenses (income), net	1,769		(798)
Loss before income taxes	$	(112,943)	$	(126,360)
Income tax (benefit) expense	(6,975)		(5,803)
Net loss	$	(105,968)	$	(120,557)