At-home beauty device maker The Beauty Tech Group (TBTG) posted glowing FY25 results. The firm also raised its profit guidance for this year, its third upgrade since coming to market in October 2025.
Margin expansion
For the year to December, total revenue rose 39% to £141 million. Within that, own-brand revenue jumped 60% from £88 million to £140.9 million.
Sales of the firm’s CurrentBody Skin LED face mask soared 59% to £126 million, while ZIIP Beauty sales climbed 46% to £13 million. Impressively, group gross margins increased from 56.8% to 62.7% with ZIIP Beauty margins expanding to 71.7%.
Adjusted EBITDA increased 64% from £22.9 million to £37.5 million, while adjusted pre-tax profit almost doubled from £14.9 million to £29.5 million.
More significantly, adjusted free cash flow more than doubled from £15.9 million to £34.4 million. Cash conversion increased from 69.4% to 91.7%, enabling the firm to pay off its debt and end the year with £40.8 million of cash. The group also extended its working capital facility from £5 million to £12 million, giving it added flexibility.
To round things off, the group had a ‘very encouraging start’ to FY26 with strong growth across all key markets and channels. While it left its revenue forecast unchanged at £160 million, it now expects EBITDA to top the £38 million consensus.
For a company which has only been listed just over six months, Beauty Tech Group has proved itself a winner. Not only is it growing fast, but the quality of that growth has improved significantly.
As CEO Laurence Newman says, the group’s margins, cash flow and cash conversion are hallmarks of a premium own-brand consumer technology business. Moreover, the at-home beauty device market is still in its infancy and the scope to continue growing is tremendous.
While high-end luxury brands are struggling – see this week’s results from Hermes and Gucci – the ‘affordable’ market is thriving. And there are more opportunities for the group to expand into adjacent markets such as hair treatment and hair loss.
Most encouraging of all, the firm has wasted no time in paying down debt and is now self-funding. Along with paying off its one-off IPO-related costs, there is now a significant tailwind to cash flow and earnings.
Read the press release here: https://www.thebeautytechgroup.com/
