SkinHealth

Q2 FY2026 EarningsQ2 FY2026 results missed consensus on the top line but significantly outperformed on profitability: revenue of $72.1M fell short of the $74.5M expectation, while adjusted gross margin of 71.8% and adjusted EBITDA of $17.0M beat internal and market expectations. The revenue miss was driven by a 17.5% YoY decline in Delivery Systems sales and a shift to distributor models in APAC. However, disciplined cost management and a favorable comparison against prior-year inventory charges led to a substantial margin expansion, with FY26 revenue guidance revised slightly below previous expectations.