0001193125-21-217697 | S-1 | XBRL Viewer

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Cover	3 Months Ended
Cover	Mar. 31, 2021
Cover [Abstract]
Document Type	S-1
Amendment Flag	false
Entity Registrant Name	Beauty Health Co
Entity Central Index Key	0001818093
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Ex Transition Period	false

Consolidated Balance Sheet - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Current Assets
Cash and cash equivalents	$ 2,753,154	$ 3,265,075
Prepaid expenses	595,589	638,013
Total Current Assets	3,348,743	3,903,088
Marketable securities held in Trust Account	460,184,400	460,098,212
TOTAL ASSETS	463,533,143	464,001,300
Current Liabilities
Accrued expenses	801,521	753,547
Accrued offering costs	11,950	11,950
Total Current Liabilities	813,471	765,497
Warrant liability	51,493,331	65,646,664
Deferred underwriting payable	16,100,000	16,100,000
Total Liabilities	68,406,802	82,512,161
Commitments
Class A common stock subject to possible redemption, value	460,037,629	460,001,441
Stockholders' Equity (deficit)
Preferred stock value	0	0
Additional paid-in capital	3,103,850	3,103,850
Accumulated deficit	(68,016,288)	(81,617,302)
Total Stockholders' Equity (deficit)	(64,911,288)	(78,512,302)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	463,533,143	464,001,300
LCP Edge Intermediate, Inc. [Member]
Current Assets
Cash and cash equivalents	14,115,000	9,486,000	$ 7,307,000
Accounts receivable, net of allowance for doubtful accounts of $2,049 as of March 31, 2021, $2,032 and $732 at December 31, 2020 and 2019, respectively	27,014,000	18,576,000	23,719,000
Prepaid expenses	4,195,000	3,220,000	3,709,000
Income tax receivable	4,394,000	4,611,000
Inventories	21,770,000	23,202,000	19,435,000
Total Current Assets	71,488,000	59,095,000	54,170,000
Property and equipment, net	8,146,000	9,191,000	10,800,000
Intangible assets, net	50,254,000	50,935,000	60,293,000
Goodwill	98,535,000	98,531,000	98,520,000
Deferred tax assets, net	224,000	270,000	232,000
Other assets	6,142,000	4,813,000	2,336,000
TOTAL ASSETS	234,789,000	222,835,000	226,351,000
Current Liabilities
Accounts payable	22,415,000	18,485,000	14,257,000
Accrued offering costs	14,177,000	9,475,000	8,580,000
Other accrued expenses	2,860,000	2,458,000	2,946,000
Income tax payable			2,964,000
Current portion of unfavorable lease terms			144,000
Current portion of long-term debt due to related parties	5,197,000	512,000	8,927,000
Total Current Liabilities	44,649,000	30,930,000	37,818,000
Unfavorable lease terms, net of current portion			276,000
Other long-term liabilities	1,773,000	1,854,000	325,000
Long-term debt due to related parties, net of current portion	218,472,000	216,024,000	180,850,000
Deferred income taxes, net	3,100,000	3,987,000	8,290,000
Total Liabilities	267,994,000	252,795,000	227,559,000
Stockholders' Equity (deficit)
Additional paid-in capital	13,990,000	13,956,000	13,747,000
Note receivable from stockholder	(554,000)	(554,000)	(554,000)
Accumulated other comprehensive income	237,000	242,000	28,000
Accumulated deficit	(46,878,000)	(43,604,000)	(14,429,000)
Total Stockholders' Equity (deficit)	(33,205,000)	(29,960,000)	(1,208,000)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	234,789,000	222,835,000	$ 226,351,000
Class B Common Stock
Stockholders' Equity (deficit)
Common stock value	1,150	1,150
Total Stockholders' Equity (deficit)	$ 1,150	1,150
Previously Reported [Member]
Current Liabilities
Class A common stock subject to possible redemption, value		376,489,130
Stockholders' Equity (deficit)
Additional paid-in capital		43,911,821
Accumulated deficit		(38,913,797)
Total Stockholders' Equity (deficit)		5,000,009
Previously Reported [Member] \| Class A Common Stock
Stockholders' Equity (deficit)
Common stock value		835
Total Stockholders' Equity (deficit)		$ 835

Consolidated Balance Sheet (Parenthetical) - USD ($)	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Preferred stock par value (in Dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	1,000,000	1,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
LCP Edge Intermediate, Inc. [Member]
Allowances for doubtful accounts	$ 2,049,000	$ 2,032,000	$ 732,000
Common stock par value (in Dollars per share)	$ 0.01	$ 0.01	$ 0.01
Common stock, shares authorized	60,000	60,000	60,000
Common stock, shares issued	54,358	54,358	54,538
Common stock, shares outstanding	54,358	54,358	49,205
Class A Common Stock
Common stock subject to possible redemption shares at redemption value, shares	46,000,000	46,000,000
Common stock par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	200,000,000	200,000,000
Common stock, shares issued	0	0
Common stock, shares outstanding	0	0
Class B Common Stock
Common stock par value (in Dollars per share)	$ 0.0001	$ 0.0001
Common stock, shares authorized	20,000,000	20,000,000
Common stock, shares issued	11,500,000	11,500,000
Common stock, shares outstanding	11,500,000	11,500,000
Preferred Class A [Member] \| LCP Edge Intermediate, Inc. [Member]
Preferred stock par value (in Dollars per share)	$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares authorized	1,500	1,500	1,500
Preferred stock, shares issued	935	935	935
Preferred stock, shares outstanding	931	931	935
Preferred Stock, Liquidation preference	$ 8,465,000	$ 8,465,000	$ 8,499,000
Previously Reported [Member] \| Class A Common Stock
Common stock subject to possible redemption shares at redemption value, shares		37,648,795
Common stock par value (in Dollars per share)		$ 0.0001
Common stock, shares authorized		200,000,000
Common stock, shares issued		8,351,205
Common stock, shares outstanding		8,351,205

Consolidated Statement of Operations - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
Consolidated Statement of Operations - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Formation and operating costs	$ 602,319		$ 1,209,550
Operating expenses:
(Loss) income from operations	(602,319)		(1,209,550)
Other income (expense), net:
Interest earned on marketable securities held in Trust Account	85,152		90,128
Unrealized gain on marketable securities held in Trust Account	1,036		8,084
Change in fair value of warrant liability	14,153,333		(36,786,664)
Offering costs allocated to warrant liability			(1,015,795)
Other income (expense), net	14,239,521		(37,704,247)
(Loss) income before provision for income taxes	13,637,202
Benefit from income taxes
Net income (loss)	$ 13,637,202		$ (81,617,302)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)	46,000,000		42,604,214
Basic and diluted net income per share, Common stock subject to possible redemption (in Dollars per share)	$ 0.00		$ 0.00
Net Income allocable to shares subject to redemption	$ 30,687		$ 1,180
Basic and diluted net loss per common share (in Dollars per share)	$ 1.18		$ (3.06)
Weighted average shares outstanding, basic and diluted (in Shares)	11,500,000		12,736,775
LCP Edge Intermediate, Inc. [Member]
Net sales	$ 47,542,000	$ 32,536,000		$ 119,092,000	$ 166,623,000	$ 112,310,000
Cost of sales	15,802,000	13,607,000		51,893,000	60,111,000	39,335,000
Gross profit	31,740,000	18,929,000		67,199,000	106,512,000	72,975,000
Operating expenses:
Selling and marketing	17,095,000	17,697,000		50,323,000	61,774,000	42,739,000
Research and development	1,452,000	1,376,000		3,409,000	4,614,000	2,404,000
General and administrative	10,811,000	7,192,000		30,649,000	26,662,000	17,772,000
Total operating expenses	29,358,000	26,265,000		84,381,000	93,050,000	62,915,000
(Loss) income from operations	2,382,000	(7,336,000)		(17,182,000)	13,462,000	10,060,000
Other income (expense), net:
Interest expense, net	5,699,000	4,150,000		21,275,000	17,092,000	10,049,000
Other expense (income)	7,000	(5,000)		47,000	(535,000)	9,000
Foreign currency gain, net	256,000	203,000		(21,000)	(160,000)	(8,000)
Other income (expense), net	(5,962,000)	(4,348,000)		(21,301,000)	(16,397,000)	(10,050,000)
(Loss) income before provision for income taxes	(3,580,000)	(11,684,000)		(38,483,000)	(2,935,000)	10,000
Benefit from income taxes	(306,000)	(2,614,000)		(9,308,000)	(1,297,000)	327,000
Net income (loss)	(3,274,000)	(9,070,000)		(29,175,000)	(1,638,000)	(317,000)
Distributions to preferred stockholders						(85,021,000)
Cumulative preferred dividends	(201,000)	(188,000)		(740,000)	(721,000)	(5,591,000)
Net Income allocable to shares subject to redemption	$ (3,475,000)	$ (9,258,000)		$ (29,915,000)	$ (2,359,000)	$ (90,929,000)
Basic and diluted net loss per common share (in Dollars per share)	$ (63.92)	$ (188.17)		$ (569.87)	$ (47.94)	$ (1,849.99)
Weighted average shares outstanding, basic and diluted (in Shares)	54,358	49,205		52,494	49,205	49,151
Comprehensive loss, net of tax:
Foreign currency translation adjustments	$ (5,000)	$ (72,000)		$ 79,000	$ 33,000	$ (5,000)
Comprehensive loss, net of tax:	$ (3,279,000)	$ (9,142,000)		$ (29,096,000)	$ (1,605,000)	$ (322,000)
Previously Reported [Member]
Other income (expense), net:
Net income (loss)			$ (38,913,797)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)			41,438,497
Basic and diluted net loss per common share (in Dollars per share)			$ (2.91)
Weighted average shares outstanding, basic and diluted (in Shares)			13,388,418

Consolidated Statement of Changes in Stockholders' Equity - USD ($)	Total	Previously Reported [Member]	LCP Edge Intermediate, Inc. [Member]	Additional Paid-in Capital	Additional Paid-in Capital Previously Reported [Member]	Additional Paid-in Capital LCP Edge Intermediate, Inc. [Member]	Accumulated Deficit	Accumulated Deficit Previously Reported [Member]	Accumulated Deficit LCP Edge Intermediate, Inc. [Member]	Common Stock LCP Edge Intermediate, Inc. [Member]	Preferred Stock LCP Edge Intermediate, Inc. [Member]	Note Receivable from Stockholder LCP Edge Intermediate, Inc. [Member]	Accumulated Other Comprehensive Income LCP Edge Intermediate, Inc. [Member]	Class A Common Stock	Class A Common Stock Previously Reported [Member]	Class B Common Stock
Balance at Dec. 31, 2017			$ 98,786,000			$ 98,124,000			$ 1,216,000	$ 0	$ 0	$ (554,000)	$ 0
Balance, (in Shares) at Dec. 31, 2017										49,026	931
Issuance of shares			500,000			500,000
Issuance of shares (in shares)										179	4
Distributions to preferred stockholders			(98,711,000)			(85,021,000)			(13,690,000)
Cash settlement of options			(20,000)			(20,000)
Stock-based compensation			61,000			61,000
Net income (loss)			(317,000)						(317,000)
Foreign currency translation adjustment			(5,000)										(5,000)
Balance at Dec. 31, 2018			294,000			13,644,000			(12,791,000)	$ 0	$ 0	(554,000)	(5,000)
Balance, (in Shares) at Dec. 31, 2018										49,205	935
Stock-based compensation			103,000			103,000
Net income (loss)			(1,638,000)						(1,638,000)
Foreign currency translation adjustment			33,000										33,000
Balance at Dec. 31, 2019			(1,208,000)			13,747,000			(14,429,000)	$ 0	$ 0	(554,000)	28,000
Balance, (in Shares) at Dec. 31, 2019										49,205	935
Stock-based compensation			26,000			26,000
Net income (loss)			(9,070,000)						(9,070,000)
Foreign currency translation adjustment			(72,000)										(72,000)
Balance at Mar. 31, 2020			(10,324,000)			13,773,000			(23,499,000)	$ 0	$ 0	(554,000)	(44,000)
Balance, (in Shares) at Mar. 31, 2020										49,205	935
Balance at Dec. 31, 2019			(1,208,000)			13,747,000			(14,429,000)	$ 0	$ 0	(554,000)	28,000
Balance, (in Shares) at Dec. 31, 2019										49,205	935
Issuance of shares (in shares)										5,332
Repurchase of shares			(154,000)			(154,000)
Repurchase of shares (in shares)										(179)	(4)
Stock-based compensation			363,000			363,000
Net income (loss)			(29,175,000)						(29,175,000)
Foreign currency translation adjustment			214,000										214,000
Balance at Dec. 31, 2020	$ (78,512,302)	$ 5,000,009	(29,960,000)	$ 3,103,850	$ 43,911,821	13,956,000	$ (81,617,302)	$ (38,913,797)	(43,604,000)	$ 0	$ 0	(554,000)	242,000		$ 835	$ 1,150
Balance, (in Shares) at Dec. 31, 2020										54,358	931				8,351,205	11,500,000
Balance at Jul. 07, 2020	0			0			0							$ 0		$ 0
Balance, (in Shares) at Jul. 07, 2020														0		0
Issuance of shares	25,000			23,850												$ 1,150
Change in value of Class A common stock subject to possible redemption	(417,297,936)	(376,489,130)		(417,293,336)	(376,485,365)									$ (4,600)	$ (3,765)
Issuance of shares (in shares)																11,500,000
Change in value of Class A common stock subject to possible redemption (in Shares)														(46,000,000)	(37,648,795)
Sale of 46,000,000 Units, net of underwriting discounts and warrant liability	417,297,936			417,293,336										$ 4,600
Sale of 46,000,000 Units, net of underwriting discounts and warrant liability (in Shares)														46,000,000
Contribution in excess of fair value of Private Placement Warrants	3,080,000			3,080,000
Net income (loss)	(81,617,302)	(38,913,797)					(81,617,302)	(38,913,797)
Balance at Dec. 31, 2020	(78,512,302)	$ 5,000,009	(29,960,000)	3,103,850	$ 43,911,821	13,956,000	(81,617,302)	$ (38,913,797)	(43,604,000)	$ 0	$ 0	(554,000)	242,000		$ 835	$ 1,150
Balance, (in Shares) at Dec. 31, 2020										54,358	931				8,351,205	11,500,000
Change in value of Class A common stock subject to possible redemption	(36,188)						(36,188)
Stock-based compensation			34,000			34,000
Net income (loss)	13,637,202		(3,274,000)				13,637,202		(3,274,000)
Foreign currency translation adjustment			(5,000)										(5,000)
Balance at Mar. 31, 2021	$ (64,911,288)		$ (33,205,000)	$ 3,103,850		$ 13,990,000	$ (68,016,288)		$ (46,878,000)	$ 0	$ 0	$ (554,000)	$ 237,000			$ 1,150
Balance, (in Shares) at Mar. 31, 2021										54,358	931					11,500,000

Consolidated Statement of Changes in Stockholders' Equity (Parenthetical)	6 Months Ended
	Dec. 31, 2020 shares
Class A Common Stock
Sale of Units, net of underwriting discounts	46,000,000

Consolidated Statement of Cash Flows - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
Consolidated Statement of Cash Flows - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Cash flows (used in) from operating activities:
Net income (loss)	$ 13,637,202		$ (81,617,302)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Interest earned on marketable securities held in Trust Account	(85,152)		(90,128)
Change in fair value of warrant liability	(14,153,333)		36,786,664
Offering costs allocated to warrant liability			1,015,795
Unrealized gain on marketable securities held in Trust Account	(1,036)		(8,084)
Changes in operating assets and liabilities:
Prepaid expenses	42,424		(638,013)
Accrued expenses	47,974		753,547
Net cash (used in) from operating activities	(511,921)		(1,094,016)
Cash Flows from Investing Activities:
Investment of cash in Trust Account			(460,000,000)
Net cash provided by (used in) investing activities			(460,000,000)
Cash Flows from Financing Activities:
Proceeds from issuance of Class B common stock to Sponsor			25,000
Proceeds from sale of Units, net of underwriting discounts paid			450,800,000
Proceeds from sale of Private Placement Warrants			14,000,000
Advances from related party			229,886
Repayment of advances from related party			(229,886)
Proceeds from promissory note - related party			261,386
Repayment of promissory note - related party			(261,386)
Payment of offering costs			(465,909)
Net cash from financing activities			464,359,091
Net Change in Cash	(511,921)		3,265,075
Cash - Beginning of period	3,265,075
Cash - End of period	2,753,154		3,265,075	$ 3,265,075
Non-Cash Investing and Financing Activities:
Initial classification of Class A common stock subject to possible redemption			414,384,970
Change in value of Class A common stock subject to possible redemption	36,188		(37,895,840)
Initial classification of warrant liability			28,860,000
Deferred underwriting fee payable			16,100,000
Offering costs included in accrued offering costs			11,950
Previously Reported [Member]
Cash flows (used in) from operating activities:
Net income (loss)			(38,913,797)
LCP Edge Intermediate, Inc. [Member]
Cash flows (used in) from operating activities:
Net income (loss)	(3,274,000)	$ (9,070,000)		(29,175,000)	$ (1,638,000)	$ (317,000)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation of property and equipment	690,000	650,000		2,552,000	1,375,000	635,000
Amortization of capitalized software				1,104,000	451,000	112,000
Provision for doubtful accounts	19,000	183,000		1,442,000	659,000	96,000
Amortization of intangible assets	2,921,000	2,819,000		10,745,000	12,055,000	10,749,000
Amortization of other assets	33,000	33,000		132,000	63,000	0
Amortization of deferred financing costs	394,000	349,000		1,515,000	1,365,000	708,000
Share-based compensation	34,000	26,000		363,000	103,000	61,000
Amortization of unfavorable lease terms	0	(36,000)		(36,000)	(144,000)	(144,000)
Write-off of unfavorable lease terms				(384,000)	0	0
Loss on sale and disposal of assets				110,000	0	0
Payment in-kind interest that compounds into debt	2,182,000	0		6,119,000	0	0
Deferred income taxes	(842,000)	3,068,000		(4,341,000)	(4,649,000)	(3,015,000)
Changes in operating assets and liabilities:
Accounts receivables	(8,457,000)	5,245,000		3,701,000	(11,048,000)	(7,719,000)
Prepaid expenses	(975,000)	1,231,000		489,000	(1,116,000)	(1,234,000)
Income taxes receivable	217,000	(3,393,000)		(4,611,000)	0	1,872,000
Inventory	1,411,000	(3,135,000)		(3,211,000)	(4,769,000)	(9,799,000)
Other assets	(1,182,000)	(143,000)		(2,286,000)	(692,000)	(980,000)
Accounts payable	3,067,000	567,000		4,889,000	4,311,000	4,178,000
Accrued payroll and other expenses	5,018,000	(1,312,000)		(118,000)	2,765,000	3,249,000
Other long-term liabilities	(81,000)	160,000		1,529,000	119,000	207,000
Income taxes payable	86,000	(2,296,000)		(2,964,000)	2,518,000	446,000
Net cash (used in) from operating activities	1,261,000	(5,054,000)		(12,436,000)	1,728,000	(895,000)
Cash Flows from Investing Activities:
Cash paid for business acquisition, net of cash acquired				0	(2,058,000)	0
Repayment of amounts due to sellers				0	0	(558,000)
Capital expenditures for intangible assets	(170,000)	(117,000)		(316,000)	(1,648,000)	(5,111,000)
Capital expenditures for property and equipment	(818,000)	(2,126,000)		(3,501,000)	(8,774,000)	(2,774,000)
Net cash provided by (used in) investing activities	(988,000)	(2,243,000)		(3,817,000)	(12,480,000)	(8,443,000)
Cash Flows from Financing Activities:
Investment by stockholder				0	0	500,000
Distributions to preferred stockholders				0	0	(98,711,000)
Repurchase of shares				(154,000)	0	0
Cash settlement of options				0	0	(20,000)
Proceeds from revolving facility borrowings	5,000,000	6,500,000		6,500,000	18,500,000	5,750,000
Repayments of revolving facility borrowings				(15,000,000)	(12,000,000)	(3,750,000)
Proceeds from term loan borrowings				30,000,000	10,000,000	112,905,000
Payment of debt issuance costs				(77,000)	(150,000)	(4,232,000)
Repayment of term loan borrowings	(443,000)	(443,000)		(1,772,000)	(1,772,000)	(1,278,000)
Payments for transaction costs	(180,000)	0		(323,000)	0	0
Deferred financing payment for acquisition				(901,000)	0	0
Net cash from financing activities	4,377,000	6,057,000		18,273,000	14,578,000	11,164,000
Net Change in Cash	4,650,000	(1,240,000)		2,020,000	3,826,000	1,826,000
Effect of foreign currency translation on cash	(21,000)	44,000		159,000	(94,000)	(3,000)
Cash - Beginning of period	9,486,000	7,307,000		7,307,000	3,575,000	1,752,000
Cash - End of period	14,115,000	6,111,000	$ 9,486,000	9,486,000	7,307,000	3,575,000
Supplemental disclosures of cash flow information:
Cash paid for interest	3,123,000	5,350,000		13,536,000	15,727,000	9,413,000
Cash paid for income taxes				2,434,000	861,000	1,579,000
Non-Cash Investing and Financing Activities:
Capital expenditures included in Accounts payable	863,000	31,000		240,000	1,006,000	95,000
Deferred payment due to seller related to business acquisition				0	927,000	0
Deferred offering costs	$ 2,203,000	$ 0		$ 2,036,000	$ 0	$ 0

Description of Business and Basis of Presentation	3 Months Ended	12 Months Ended
Description of Business and Basis of Presentation	Mar. 31, 2021	Dec. 31, 2020
Description of Business and Basis of Presentation	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS The Beauty Health Company (formerly known as Vesper Healthcare Acquisition Corp.) (the “Company”) was incorporated in Delaware on July 8, 2020. The Company was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. *Merger and PIPE Investment* On May 4, 2021 (the “Closing Date”), the registrant consummated the previously announced business combination pursuant to that certain Agreement and Plan of Merger, dated December 8, 2020, by and among Vesper Healthcare Acquisition Corp. (“Vesper Healthcare”), Hydrate Merger Sub I, Inc. (“Merger Sub I”), Hydrate Merger Sub II, LLC (“Merger Sub II”), LCP Edge Intermediate, Inc., the indirect parent of Edge Systems LLC d/b/a The HydraFacial Company (“HydraFacial”), and LCP Edge Holdco, LLC (“LCP,” and, in its capacity as the stockholders’ representative, the “Stockholders’ Representative”) (the “Merger Agreement”), which provided for: (a) the merger of Merger Sub I with and into HydraFacial, with HydraFacial continuing as the surviving corporation (the “First Merger”), and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of HydraFacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”). As a result of the First Merger, the registrant owns 100% of the outstanding common stock of HydraFacial and each share of common stock and preferred stock of HydraFacial has been cancelled and converted into the right to receive a portion of the consideration payable in connection with the Mergers. As a result of the Second Merger, the registrant owns 100% of the outstanding interests in Merger Sub II. In connection with the closing of the Business Combination (the “Closing”), the registrant owns, directly or indirectly, 100% of the stock of HydraFacial and its subsidiaries and the stockholders of HydraFacial as of immediately prior to the effective time of the First Merger (the “HydraFacial Stockholders”) hold a portion of the Class A Common Stock, par value $0.0001 per share, of the registrant (the “Class A Stock”). Pursuant to the terms of the Merger Agreement and customary adjustments set forth therein, the aggregate merger consideration paid to the HydraFacial Stockholders in connection with the Business Combination was approximately $975,000,000 less HydraFacial’s net indebtedness as of the Closing Date, and subject to further adjustments for transaction expenses, and net working capital relative to a target. The merger consideration included both cash consideration and consideration in the form of newly issued Class A Stock. The aggregate cash consideration paid to the HydraFacial Stockholders at the Closing was approximately $368 million, consisting of the Company’s cash and cash equivalents as of the Closing (including proceeds of $350 million from the Company’s private placement of an aggregate of 35,000,000 shares of Class A Stock (the “Private Placement”) with a limited number of accredited investors (as defined by Rule 501 of Regulation D) without any form of general solicitation or general advertising pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and approximately $433 million of cash available to the Company from the trust account that held the proceeds from the Company’s initial public offering (the “Trust Account”) after giving effect to income and franchise taxes payable in respect of interest income earned in the Trust Account and redemptions that were elected by the Company’s public stockholders, minus approximately $224 million used to repay HydraFacial’s outstanding indebtedness at the Closing, minus approximately $94 million of transaction expenses of HydraFacial and the Company, minus $100 million. The remainder of the consideration paid to the HydraFacial Stockholders consisted of 35,501,743 newly issued shares of Class A Stock (the “Stock Consideration”). The foregoing consideration paid to the HydraFacial Stockholders may be further increased by up to $75.0 million payable as earn-out shares of Class A Stock upon the completion of certain acquisitions within one year of Closing pursuant to the terms of the Merger Agreement. All outstanding shares of Class B Stock were automatically converted into shares of Class A Stock on a one-for-one basis at the Closing and will continue to be subject to the transfer restrictions applicable to such shares of Class B Stock. In connection with the Merger Agreement, certain accredited investors (the “PIPE Investors”) entered into subscription agreements (the “PIPE Subscription Agreements”) pursuant to which the PIPE Investors agreed to purchase 35,000,000 shares (the “PIPE Shares”) of The Beauty Health Company Class A Common Stock at a purchase price per share of $10.00 and an aggregate purchase price of $350,000,000 (the “PIPE Investment”). The PIPE Investment was consummated substantially concurrently with the Closing. In connection with the Closing, holders of 2,672,690 shares of Class A Stock exercised their rights to redeem those shares for cash at an approximate price of $10.00 per share, for an aggregate of approximately $26,737,737, which was paid to such holders at Closing. Immediately after giving effect to the Merger and the PIPE Investment, there were 125,329,053 shares of The Beauty Health Company Class A Common Stock. In connection with the Closing, the registrant changed its name from “Vesper Healthcare Acquisition Corp.” to “The Beauty Health Company”. *Business Prior to the Business Combination* Prior to the Business Combination, the Company had two subsidiaries, Hydrate Merger Sub I, Inc., a wholly owned subsidiary of the Company incorporated in Delaware on December 7, 2020 (“Merger Sub I”) and Hydrate Merger Sub II, LLC, a wholly owned subsidiary of the Company incorporated in Delaware on December 7, 2020 (“Merger Sub II”). As of March 31, 2021, the Company had not commenced any operations. All activity for the period from July 8, 2020 (inception) through March 31, 2021 relates to the Company’s formation and the initial public offering (“Initial Public Offering”), which is described below. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The registration statement for the Company’s Initial Public Offering was declared effective on September 29, 2020. On October 2, 2020, the Company consummated the Initial Public Offering of 46,000,000 units (the “Units” and, with respect to the shares of Class A common stock included in the Units sold, the “Public Shares”), which includes the full exercise by the underwriters of the over-allotment option to purchase an additional 6,000,000 Units, at $10.00 per Unit, generating gross proceeds of $460,000,000, which is described in Note 3. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 9,333,333 warrants (the “Private Placement Warrants”) at a price of $1.50 per Private Placement Warrant in a private placement to BLS Investor Group LLC (the “Sponsor”), generating gross proceeds of $14,000,000, which is described in Note 4. Transaction costs amounted to $25,777,859 consisting of $9,200,000 of underwriting fees, $16,100,000 of deferred underwriting fees and $477,859 of other offering costs. *Liquidity* As of March 31, 2021, the Company had $2,753,154 in its operating bank accounts, $460,184,400 in securities held in the Trust Account to be used for a Business Combination or to repurchase or redeem its ordinary shares in connection therewith and current liabilities of $813,471. Until the consummation of a Business Combination, the Company used the funds not held in the Trust Account for identifying and evaluating prospective acquisition candidates, performing due diligence on prospective target businesses, paying for travel expenditures, selecting the target business to acquire, and structuring, negotiating and consummating the Business Combination. As noted above (Merger and PIPE Investment), on May 4, 2021, the Company consummated the Merger and the PIPE investment. *Risks and Uncertainties* Management continues to evaluate the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these consolidated financial statements. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.	NOTE 1. DESCRIPTION OF ORGANIZATION AND BUSINESS OPERATIONS The Beauty Health Company (the “Company”) was incorporated in Delaware on July 8, 2020. The Company was formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses (a “Business Combination”). The Company is not limited to a particular industry or geographic region for purposes of consummating a Business Combination. The Company is an early stage and emerging growth company and, as such, the Company is subject to all of the risks associated with early stage and emerging growth companies. The Company has two subsidiaries, Hydrate Merger Sub I, Inc., a wholly owned subsidiary of the Company incorporated in Delaware on December 7, 2020 (“Merger Sub I”) and Hydrate Merger Sub II, LLC, a wholly owned subsidiary of the Company incorporated in Delaware on December 7, 2020 (“Merger Sub II”). As of December 31, 2020, the Company had not commenced any operations. All activity for the period from July 8, 2020 (inception) through December 31, 2020 relates to the Company’s formation and the initial public offering (“Initial Public Offering”), which is described below. The Company will not generate any operating revenues until after the completion of a Business Combination, at the earliest. The Company will generate non-operating income in the form of interest income from the proceeds derived from the Initial Public Offering. The registration statement for the Company’s Initial Public Offering was declared effective on September 29, 2020. On October 2, 2020, the Company consummated the Initial Public Offering of 46,000,000 units (the “Units” and, with respect to the shares of Class A common stock included in the Units sold, the “Public Shares”), which includes the full exercise by the underwriters of the over-allotment option to purchase an additional 6,000,000 Units, at $10.00 per Unit, generating gross proceeds of $460,000,000, which is described in Note 4. Simultaneously with the closing of the Initial Public Offering, the Company consummated the sale of 9,333,333 warrants (the “Private Placement Warrants”) at a price of $1.50 per Private Placement Warrant in a private placement to BLS Investor Group LLC (the “Sponsor”), generating gross proceeds of $14,000,000, which is described in Note 5. Transaction costs amounted to $25,777,859 consisting of $9,200,000 of underwriting fees, $16,100,000 of deferred underwriting fees and $477,859 of other offering costs. Of this amount, $24,762,064 was recorded as a reduction of gross proceeds in additional paid in capital and $1,015,795 was expensed. Following the closing of the Initial Public Offering on October 2, 2020, an amount of $460,000,000 ($10.00 per Unit) from the net proceeds of the sale of the Units in the Initial Public Offering and the sale of the Private Placement Warrants was placed in a trust account (the “Trust Account”), located in the United States and invested only in U.S. government securities, within the meaning set forth in Section 2(a)(16) of the Investment Company Act of 1940, as amended (the “Investment Company Act”), with a maturity of 185 days or less or in any open-ended investment company that holds itself out as a money market fund selected by the Company meeting the conditions of Rule 2a-7 of the Investment Company Act, as determined by the Company, until the earlier of: (i) the completion of a Business Combination and (ii) the distribution of the funds held in the Trust Account, as described below. The Company’s management has broad discretion with respect to the specific application of the net proceeds of the Initial Public Offering and the sale of the Private Placement Warrants, although substantially all of the net proceeds are intended to be applied generally toward consummating a Business Combination. There is no assurance that the Company will be able to complete a Business Combination successfully. The Company must complete a Business Combination with one or more target businesses that together have an aggregate fair market value of at least 80% of the value of the Trust Account (excluding the deferred underwriting commissions and taxes payable on income earned on the Trust Account) at the time of the agreement to enter into an initial Business Combination. The Company will only complete a Business Combination if the post-transaction company owns or acquires 50% or more of the outstanding voting securities of the target or otherwise acquires a controlling interest in the target sufficient for it not to be required to register as an investment company under the Investment Company Act. The Company will provide its holders of the outstanding Public Shares (the “public stockholders”) with the opportunity to redeem all or a portion of their Public Shares upon the completion of a Business Combination either (i) in connection with a stockholder meeting called to approve the Business Combination or (ii) by means of a tender offer. The decision as to whether the Company will seek stockholder approval of a Business Combination or conduct a tender offer will be made by the Company, solely in its discretion. The public stockholders will be entitled to redeem their Public Shares for a pro rata portion of the amount then in the Trust Account (initially $10.00 per Public Share, plus any pro rata interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations). There will be no redemption rights upon the completion of a Business Combination with respect to the Company’s warrants. The Company will proceed with a Business Combination only if the Company has net tangible assets of at least $5,000,001 either prior to or upon such consummation of a Business Combination and, if the Company seeks stockholder approval, a majority of the shares voted are voted in favor of the Business Combination. If a stockholder vote is not required by law and the Company does not decide to hold a stockholder vote for business or other reasons, the Company will, pursuant to its Amended and Restated Certificate of Incorporation (the “Amended and Restated Certificate of Incorporation”), conduct the redemptions pursuant to the tender offer rules of the U.S. Securities and Exchange Commission (“SEC”) and file tender offer documents with the SEC prior to completing a Business Combination. If, however, stockholder approval of the transaction is required by law, or the Company decides to obtain stockholder approval for business or other reasons, the Company will offer to redeem shares in conjunction with a proxy solicitation pursuant to the proxy rules and not pursuant to the tender offer rules. If the Company seeks stockholder approval in connection with a Business Combination, the Sponsor has agreed to vote its Founder Shares (as defined in Note 6) and any Public Shares purchased during or after the Initial Public Offering in favor of approving a Business Combination. Additionally, each public stockholder may elect to redeem their Public Shares irrespective of whether they vote for or against the proposed transaction or don’t vote at all. Notwithstanding the above, if the Company seeks stockholder approval of a Business Combination and it does not conduct redemptions pursuant to the tender offer rules, the Amended and Restated Certificate of Incorporation provides that a public stockholder, together with any affiliate of such stockholder or any other person with whom such stockholder is acting in concert or as a “group” (as defined under Section 13 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”)), will be restricted from redeeming its shares with respect to more than an aggregate of 15% or more of the Public Shares, without the prior consent of the Company. The Sponsor has agreed (a) to waive its redemption rights with respect to its Founder Shares and Public Shares held by it in connection with the completion of a Business Combination, (b) to waive its liquidation rights with respect to the Founder Shares if the Company fails to complete a Business Combination by October 2, 2022 and (c) not to propose an amendment to the Amended and Restated Certificate of Incorporation (i) to modify the substance or timing of the Company’s obligation to allow redemption in connection with the Company’s initial Business Combination or to redeem 100% of its Public Shares if the Company does not complete a Business Combination or (ii) with respect to any other provision relating to stockholders’ rights or pre-initial business combination activity, unless the Company provides the public stockholders with the opportunity to redeem their Public Shares in conjunction with any such amendment. However, if the Sponsor acquires Public Shares in or after the Initial Public Offering, such Public Shares will be entitled to liquidating distributions from the Trust Account if the Company fails to complete a Business Combination within the Combination Period. The Company will have until October 2, 2022 to complete a Business Combination (the “Combination Period”). If the Company is unable to complete a Business Combination within the Combination Period, the Company will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter, redeem the Public Shares, at a per-share price, payable in cash, equal to the aggregate amount then on deposit in the Trust Account including interest earned on the funds held in the Trust Account and not previously released to the Company to pay its tax obligations (less up to $100,000 of interest to pay dissolution expenses), divided by the number of then outstanding Public Shares, which redemption will completely extinguish public stockholders’ rights as stockholders (including the right to receive further liquidating distributions, if any), and (iii) as promptly as reasonably possible following such redemption, subject to the approval of the Company’s remaining stockholders and the Company’s board of directors, dissolve and liquidate, subject in each case to the Company’s obligations under Delaware law to provide for claims of creditors and the requirements of other applicable law. There will be no redemption rights or liquidating distributions with respect to the Company’s warrants, which will expire worthless if the Company fails to complete a Business Combination within the Combination Period. The underwriters have agreed to waive their rights to their deferred underwriting commission (see Note 7) held in the Trust Account in the event the Company does not complete a Business Combination within in the Combination Period and, in such event, such amounts will be included with the other funds held in the Trust Account that will be available to fund the redemption of the Public Shares. In the event of such distribution, it is possible that the per share value of the assets remaining available for distribution will be less than the Initial Public Offering price per Unit ($10.00). In order to protect the amounts held in the Trust Account, the Sponsor has agreed to be liable to the Company if and to the extent any claims by a third party for services rendered or products sold to the Company, or a prospective target business with which the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (1) $10.00 per Public Share or (2) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust assets, in each case net of the interest which may be withdrawn to pay our taxes. This liability will not apply with respect to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and will not apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except the Company’s independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account. *Risks and Uncertainties* Management continues to evaluate the impact of the COVID-19 pandemic and has concluded that while it is reasonably possible that the virus could have a negative effect on the Company’s financial position, results of its operations and/or search for a target company, the specific impact is not readily determinable as of the date of these consolidated financial statements. The consolidated financial statements do not include any adjustments that might result from the outcome of this uncertainty.
LCP Edge Intermediate, Inc. [Member]
Description of Business and Basis of Presentation	Note 1 – Description of Business and Basis of Presentation LCP Edge Intermediate, Inc. (“The HydraFacial Company” or “HydraFacial” or the “Company”) and its subsidiaries design, develop, manufacture, market, and sell aesthetic technologies and products. HydraFacial is a wholly owned subsidiary of LCP Edge Holdco, LLC (“LCP Holdco” or “Parent”). HydraFacial offers hydradermabrasion systems that enhance the skin to cleanse, exfoliate, extract, and hydrate simultaneously; HydraFacial^®Daily Essentials, which provides detoxification, rejuvenation, and protection of skin; crystal microdermabrasion systems; and light emitting diode systems. The premiere system is the HydraFacial MD^®liquid based skin exfoliation system. Merger On May 4, 2021 (the “Closing Date”), HydraFacial consummated a merger pursuant to the Agreement and Plan of Merger, dated December 8, 2020 (the “Merger Agreement”) with Vesper Healthcare Acquisition Corp. (“Vesper”), which provided for, among other things, the merger with and into Vesper, with the Company surviving as the accounting acquirer. Upon closing, the surviving entity was renamed The Beauty Health Company (“BeautyHealth”) and began to trade on the Nasdaq Capital Market under the ticker symbol “SKIN.” The transactions set forth in the Merger Agreement constitute a “Business Combination” as contemplated by Vesper’s Amended & Restated Certificate of Incorporation. See Note 17 for additional information on the merger. Basis of presentation and consolidation – The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The consolidated financial statements are presented on a consolidated basis and include the operations of HydraFacial and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation. The interim Unaudited Condensed Consolidated Financial Statements are presented in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and include HydraFacial’s consolidated domestic and international subsidiaries. Certain information and disclosures normally included in consolidated financial statements prepared in accordance with GAAP have been condensed or omitted. Accordingly, these interim Unaudited Condensed Consolidated Financial Statements and accompanying footnotes should be read in conjunction with HydraFacial’s Consolidated Financial Statements as of and for the year ended December 31, 2020. Except as described elsewhere in this Note 2, there have been no material changes to HydraFacial’s significant accounting policies as described in HydraFacial’s Consolidated Financial Statements as of and for the year ended December 31, 2020. In the opinion of management, all adjustments, of a normal recurring nature, considered necessary for a fair presentation have been included in the Condensed Consolidated Financial Statements. HydraFacial believes that the disclosures provided herein are adequate to prevent the information presented from being misleading. The results of operations for the three months ended March 31, 2021 are not necessarily indicative of the results of operations to be expected for the full year ending December 31, 2021.

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

12 Months Ended

Dec. 31, 2020

Restatement Of Previously Issued Financial Statements [Abstract]

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

NOTE 2. RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS

The Company previously accounted for its outstanding Public Warrants (as defined in Note 4) and Private Placement Warrants issued in connection with its Initial Public Offering as components of equity instead of as derivative liabilities. The warrant agreement governing the warrants includes a provision that provides for potential changes to the settlement amounts dependent upon the characteristics of the holder of the warrant. In addition, the warrant agreement includes a provision that in the event of a tender or exchange offer made to and accepted by holders of more than 50% of the outstanding shares of a single class of common shares, all holders of the warrants would be entitled to receive cash for their warrants (the “tender offer provision”).

In connection with the audit of the Company’s financial statements for the period ended December 31, 2020, the Company’s management further evaluated the warrants under Accounting Standards Codification (“ASC”) Subtopic 815-40, Contracts in Entity’s Own Equity. ASC Section 815-40-15 addresses equity versus liability treatment and classification of equity-linked financial instruments, including warrants, and states that a warrant may be classified as a component of equity only if, among other things, the warrant is indexed to the issuer’s common stock. Under ASC Section 815-40-15, a warrant is not indexed to the issuer’s common stock if the terms of the warrant require an adjustment to the exercise price upon a specified event and that event is not an input to the standard option pricing model. Based on management’s evaluation, the Company’s audit committee concluded that the Company’s Private Placement Warrants are not indexed to the Company’s common shares in the manner contemplated by ASC Section 815-40 because the holder of the instrument is not an input into the pricing of a fixed-for-fixed option on equity shares. In addition, based on management’s evaluation, the Company’s audit committee, in consultation with management, concluded the tender offer provision included in the warrant agreement fails the “classified in shareholders’ equity” criteria as contemplated by ASC Section 815-40-25.

As a result of the above, the Company should have classified the warrants as derivative liabilities in its previously issued financial statements. Under this accounting treatment, the Company is required to measure the fair value of the warrants at the end of each reporting period and recognize changes in the fair value from the prior period in the Company’s operating results for the current period.

The following table summarizes the effect of the restatement on each financial statement line item as of the dates, and for the period, indicated:


	As Previously Reported			Adjustments			As Restated
Balance sheet as of October 2, 2020 (audited)
Warrant Liability	$	—		$	28,860,000		$	28,860,000
Common Shares Subject to Possible Redemption		443,244,970			(28,860,000	)		414,384,970
Class A Common Shares		168			288			456
Additional Paid-in Capital		5,000,853			1,015,507			6,016,360
Accumulated Deficit		(2,163	)		(1,015,795	)		(1,017,958	)
Balance sheet as of December 31, 2020 (audited)
Warrant Liability	$	—		$	65,646,664		$	65,646,664
Common Shares Subject to Possible Redemption		442,135,795			(65,646,665	)		376,489,130
Class A Common Shares		179			656			835
Additional Paid-in Capital		6,110,017			37,801,804			43,911,821
Accumulated Deficit		(1,111,338	)		(37,802,459	)		(38,913,797	)
Shareholders’ Equity		5,000,008			1			5,000,009
Period from July 8, 2020 (inception) to December 31, 2020 (audited)
Change in fair value of warrant liability	$	—		$	(36,786,664	)	$	(36,786,664	)
Offering costs allocated to warrant liability		—			(1,015,795	)		(1,015,795	)
Net loss		(1,111,338	)		(37,802,459	)		(38,913,797	)
Basic and diluted weighted average shares outstanding, common stock subject to possible redemption		44,324,497			(2,886,000	)		41,438,497
Basic and diluted net loss per common share, common stock subject to possible redemption		—			—			—
Basic and diluted weighted average shares outstanding, non-redeemable common stock		11,775,126			1,613,292			13,388,418
Basic and diluted net loss per common share, non-redeemable common stock		(0.09	)		(2.82	)		(2.91	)
Statement of cash flows for the period from July 8, 2020 (inception) through December 31, 2020
Cash Flows from Operating Activities:
Net loss	$	(1,111,338	)	$	(37,802,459	)	$	(38,913,797	)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of warrant liabilities		—			36,786,664			36,786,664
Non-Cash Investing and Financing Activities:
Initial measurement of warrants issued in connection with the Initial Public Offering accounted for as liabilities		—			28,860,000			28,860,000
Statement of changes in stockholders’ equity for the period from July 8, 2020 (inception) through December 31, 2020
Class A common stock:
Shares of Class A common stock subject to possible redemption		(44,213,441	)		6,564,646			(37,648,795	)
Class A common stock subject to possible redemption	$	(4,421	)	$	656		$	(3,765	)
Additional Paid-in Capital:
Sale of 46,000,000 Units, net of underwriting discounts		434,217,541			(16,924,205	)		417,293,336
Contribution in excess of fair value of Private Placement Warrants		—			3,080,000			3,080,000
Sale of 9,333,333 Private Placement Warrants		14,000,000			(14,000,000	)		—
Class A common stock subject to possible redemption		(442,131,374	)		65,646,009			(376,485,365	)
Accumulated Deficit:
Net loss		(1,111,338	)		(37,802,459	)		(38,913,797	)
Total Stockholders’ Equity:
Sale of 46,000,000 Units, net of underwriting discounts		434,222,141			(16,924,205	)		417,297,936
Contribution in excess of fair value of Private Placement Warrants		—			3,080,000			3,080,000
Sale of 9,333,333 Private Placement Warrants		14,000,000			(14,000,000	)		—
Class A common stock subject to possible redemption		(442,135,795	)		65,646,665			(376,489,130	)
Net loss		(1,111,338	)		(37,802,459	)		(38,913,797	)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

NOTE 2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying unaudited condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial information and in accordance with the instructions to Form 10-Q and Article 10 of Regulation S-X of the SEC. Certain information or footnote disclosures normally included in financial statements prepared in accordance with GAAP have been condensed or omitted, pursuant to the rules and regulations of the SEC for interim financial reporting. Accordingly, they do not include all the information and footnotes necessary for a complete presentation of financial position, results of operations, or cash flows. In the opinion of management, the accompanying unaudited condensed financial statements include all adjustments, consisting of a normal recurring nature, which are necessary for a fair presentation of the financial position, operating results and cash flows for the periods presented.

The accompanying unaudited condensed financial statements should be read in conjunction with the Company’s Annual Report on Form 10-K/A as filed with the SEC on May 27, 2021. The interim results for the three months ended March 31, 2021 are not necessarily indicative of the results to be expected for period ended December 31, 2021 or for any future periods.

Emerging Growth Company

The Company is an “emerging growth company,” as defined in Section 2(a) of the Securities Act, as modified by the Jumpstart Our Business Startups Act of 2012 (the “JOBS Act”), and it may take advantage of certain exemptions from various reporting requirements that are applicable to other public companies that are not emerging growth companies including, but not limited to, not being required to comply with the independent registered public accounting firm attestation requirements of Section 404 of the Sarbanes-Oxley Act, reduced disclosure obligations regarding executive compensation in its periodic reports and proxy statements, and exemptions from the requirements of holding a nonbinding advisory vote on executive compensation and stockholder approval of any golden parachute payments not previously approved.

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of the condensed financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.

Cash and Cash Equivalents

The Company considers all short-term investments with an original maturity of three months or less when purchased to be cash equivalents. The Company did not have any cash equivalents as of March 31, 2021 and December 31, 2020.

Marketable Securities Held in Trust Account

At March 31, 2021 and December 31, 2020, substantially all of the assets held in the Trust Account were held in U.S. Treasury Bills. The Company accounts for its securities held in the trust account in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 320 “Debt and Equity Securities.” These securities are classified as trading securities with unrealized gains/losses recognized through income.

Class A Common Stock Subject to Possible Redemption

The Company accounts for its Class A common stock subject to possible redemption in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 480 “Distinguishing Liabilities from Equity.” Class A common stock subject to mandatory redemption is classified as a liability instrument and is measured at fair value. Conditionally redeemable common stock (including common stock that features redemption rights that is either within the control of the holder or subject to redemption upon the occurrence of uncertain events not solely within the Company’s control) is classified as temporary equity. At all other times, common stock is classified as stockholders’ equity. The Company’s Class A common stock features certain redemption rights that are considered to be outside of the Company’s control and subject to occurrence of uncertain future events. Accordingly, Class A common stock subject to possible redemption is presented at redemption value as temporary equity, outside of the stockholders’ equity section of the Company’s consolidated balance sheets.

Warrant Liability

The Company accounts for warrants as either equity-classified or liability-classified instruments based on an assessment of the warrant’s specific terms and applicable authoritative guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) 480, Distinguishing Liabilities from Equity (“ASC 480”) and ASC 815, Derivatives and Hedging (“ASC 815”). The assessment considers whether the warrants are freestanding financial instruments pursuant to ASC 480, meet the definition of a liability pursuant to ASC 480, and whether the warrants meet all of the requirements for equity classification under ASC 815, including whether the warrants are indexed to the Company’s own common shares and whether the warrant holders could potentially require “net cash settlement” in a circumstance outside of the Company’s control, among other conditions for equity classification. This assessment, which requires the use of professional judgment, is conducted at the time of warrant issuance and as of each subsequent quarterly period end date while the warrants are outstanding.

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the statements of operations. The fair value of the warrants issued in the IPO has been estimated using a Monte Carlo simulation methodology as of the date of the IPO and such warrants’ quoted market price as of December 31, 2020 and March 31, 2021. The private placement warrants were valued using a Monte Carlo simulation methodology.

Income Taxes

The Company follows the asset and liability method of accounting for income taxes under ASC 740, “Income Taxes.” Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statements carrying amounts of existing assets and liabilities and their respective tax bases. Deferred tax assets and liabilities are measured using enacted tax rates expected to apply to taxable income in the years in which those temporary differences are expected to be recovered or settled.

Financial Accounting Standards Board’s (“FASB”) Accounting Standards Codification (“ASC”) 740 prescribes a recognition threshold and a measurement attribute for the financial statement recognition and measurement of tax positions taken or expected to be taken in a tax return. For those benefits to be recognized, a tax position must be more likely than not to be sustained upon examination by taxing authorities. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as income tax expense. There were no unrecognized tax benefits and no amounts accrued for interest and penalties as of December 31, 2020. The Company is currently not aware of any issues under review that could result in significant payments, accruals or material deviation from its position. The Company is subject to income tax examinations by major taxing authorities since inception.

Net Income Per Common Share

Net income (loss) per share is computed by dividing net income by the weighted-average number of shares of common stock outstanding during the period. The Company has not considered the effect of the warrants sold in the Public Offering and Private Placement to purchase an aggregate of 24,666,666 shares in the calculation of diluted loss per share, since the exercise of the warrants are contingent upon the occurrence of future events and the inclusion of such warrants would be anti-dilutive.

The Company’s statement of operations includes a presentation of income (loss) per share for common shares subject to possible redemption in a manner similar to the two-class method of income (loss) per share. Net income (loss) per common share, basic and diluted, for Common stock subject to possible redemption is calculated by dividing the proportionate share of income or loss on marketable securities held by the Trust Account, net of applicable franchise and income taxes, by the weighted average number of Common stock subject to possible redemption outstanding since original issuance.

Net loss per share, basic and diluted, for non-redeemable common stock is calculated by dividing the net income (loss), adjusted for income or loss on marketable securities attributable to Class A common stock subject to possible redemption, by the weighted average number of non-redeemable common stock outstanding for the period.

Non-redeemable common stock includes Founder Shares and non-redeemable Class A shares as these shares do not have any redemption features. Non-redeemable common stock participates in the income or loss on marketable securities based on Class A non-redeemable share’s proportionate interest.

The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):


	For the Three Months ended March 31, 2021
Common stock subject to possible redemption
Numerator: Earnings allocable to Common stock subject to possible redemption
Interest earned on marketable securities held in Trust Account	$	72,209
Unrealized gain on marketable securities held in Trust Account		878
Less: Company’s portion available to pay taxes		(42,400	)

Net Income allocable to shares subject to redemption	$	30,687

Denominator: Weighted Average Class A common stock subject to possible redemption
Basic and diluted weighted average shares outstanding		46,000,000

Basic and diluted net income per share	$	0.00

Non-Redeemable Common Stock
Numerator: Net income minus Net Earnings
Net income	$	13,637,202
Less: Net income allocable to Class A common stock subject to possible redemption		(30,687	)

Non-Redeemable Net Income	$	13,606,515

Denominator: Weighted Average Non-Redeemable Common Stock
Basic and diluted weighted average shares outstanding		11,500,000

Basic and diluted net income per share	$	1.18

Concentration of Credit Risk

Financial instruments that potentially subject the Company to concentrations of credit risk consist of a cash account in a financial institution, which, at times, may exceed the Federal Depository Insurance Coverage of $250,000. The Company has not experienced losses on this account.

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the condensed balance sheets, primarily due to their short-term nature.

Fair Value Measurements

Fair value is defined as the price that would be received for sale of an asset or paid for transfer of a liability, in an orderly transaction between market participants at the measurement date. GAAP establishes a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). These tiers include:

•

Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

•

Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable such as quoted prices for similar instruments in active markets or quoted prices for identical or similar instruments in markets that are not active; and

•

Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions, such as valuations derived from valuation techniques in which one or more significant inputs or significant value drivers are unobservable.

In some circumstances, the inputs used to measure fair value might be categorized within different levels of the fair value hierarchy. In those instances, the fair value measurement is categorized in its entirety in the fair value hierarchy based on the lowest level input that is significant to the fair value measurement.

Derivative Financial Instruments

The Company evaluates its financial instruments to determine if such instruments are derivatives or contain features that qualify as embedded derivatives in accordance with ASC Topic 815, “Derivatives and Hedging”. For derivative financial instruments that are accounted for as liabilities, the derivative instrument is initially recorded at its fair value on the grant date and is then re-valued at each reporting date, with changes in the fair value reported in the statements of operations. The classification of derivative instruments, including whether such instruments should be recorded as liabilities or as equity, is evaluated at the end of each reporting period. Derivative liabilities are classified in the balance sheet as current or non-current based on whether or not net-cash settlement or conversion of the instrument could be required within 12 months of the balance sheet date.

Recent Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s condensed financial statements.

NOTE 3. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The accompanying consolidated financial statements are presented in conformity with accounting principles generally accepted in the United States of America (“GAAP”) and pursuant to the rules and regulations of the SEC.

Emerging Growth Company

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period.

Cash and Cash Equivalents

Marketable Securities Held in Trust Account

At December 31, 2020, substantially all of the assets held in the Trust Account were held in U.S. Treasury Bills. The Company accounts for its securities held in the trust account in accordance with the guidance in Accounting Standards Codification (“ASC”) Topic 320 “Debt and Equity Securities.” These securities are classified as trading securities with unrealized gains/losses recognized through income.

Warrant Liability

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the statements of operations. The fair value of the warrants issued in the IPO has been estimated using a Monte Carlo simulation methodology as of the date of the IPO and such warrants’ quoted market price as of December 31, 2020. The private placement warrants were valued using a Monte Carlo simulation methodology (see Note 9).

Class A Common Stock Subject to Possible Redemption

Income Taxes

Offering Costs associated with the Initial Public Offering

The Company complies with the requirements of ASC 340-10-S99-1 and SEC Staff Accounting Bulletin Topic 5A—Expenses of Offering. Offering costs consist principally of professional and registration fees incurred through the balance sheet date that are related to the Initial Public Offering. Offering costs directly attributable to the issuance of an equity contract to be classified in equity are recorded as a reduction in equity. Offering costs for equity contracts that are classified as assets and liabilities are expensed immediately. The Company incurred offering costs amounting to $25,777,859 as a result of the Initial Public Offering (consisting of $9,200,000 of underwriting fees, $16,100,000 of deferred underwriting fees and $477,859 of other offering costs). The Company recorded $24,762,064 of offering costs as a reduction of equity in connection with the shares of Class A common Stock included in the Units. The Company immediately expensed $1,015,795 of offering costs in connection with the Public Warrants and Private Placement Warrants that were classified as liabilities.

Net Income (Loss) Per Share

The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):


	For the Period from July 8, 2020 (Inception) through December 31, 2020
Common stock subject to possible redemption
Numerator: Earnings allocable to Common stock subject to possible redemption
Interest earned on marketable securities held in Trust Account	$	73,770
Unrealized gain on marketable securities held in Trust Account		6,617
Less: Company’s portion available to pay taxes		(79,207	)

Net Income allocable to shares subject to redemption	$	1,180

Denominator: Weighted Average Class A common stock subject to possible redemption
Basic and diluted weighted average shares outstanding		41,438,497

Basic and diluted net income per share	$	0.00

Non-Redeemable Common Stock
Numerator: Net Loss minus Net Earnings
Net loss	$	(38,913,797	)
Less: Net income allocable to Class A common stock subject to possible redemption		(1,180	)

Non-Redeemable Net Loss	$	(38,914,977	)

Denominator: Weighted Average Non-Redeemable Common Stock
Basic and diluted weighted average shares outstanding		13,388,418

Basic and diluted net loss per share	$	(2.91	)

Concentration of Credit Risk

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the consolidated balance sheet, primarily due to their short-term nature.

Fair Value Measurements

•

Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

•

Derivative Financial Instruments

Recent Accounting Standards

Management does not believe that any recently issued, but not yet effective, accounting standards, if currently adopted, would have a material effect on the Company’s consolidated financial statements.

LCP Edge Intermediate, Inc. [Member]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Note 2 – Summary of Significant Accounting Policies

Use of estimates and assumptions in preparing consolidated financial statements – In preparing its consolidated financial statements in conformity with accounting principles generally accepted in the United States of America, HydraFacial makes assumptions, estimates, and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the dates of the consolidated financial statements and the reported amounts of net sales and expenses during the reported periods. On an ongoing basis, HydraFacial evaluates its estimates, including, among others, those related to revenue related reserves, allowance for doubtful accounts, the realizability of inventory, fair value measurements including common stock valuations, useful lives of property and equipment, goodwill and finite-lived intangible assets, accounting for income taxes, stock-based compensation expense and commitments and contingencies. HydraFacial’s estimates are based on historical experience and on its future expectations that are believed to be reasonable. The combination of these factors forms the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Actual results may differ from its current estimates and those differences may be material.

Recently issued accounting pronouncements

With the Business Combination consummated, HydraFacial expects to be an “emerging growth company.” The Jumpstart Our Business Startups Act, or the JOBS Act, allows HydraFacial to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. HydraFacial has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, HydraFacial’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies.

Recently Adopted Accounting Pronouncements

Income Taxes. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). The amendments in this ASU 2019-12 simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. HydraFacial adopted ASU 2019-12 on January 1, 2021, which did not have a material impact on its Condensed Consolidated Financial Statements.

Accounting Pronouncements Not Yet Adopted

Leases. In February 2016, FASB issued ASU 2016–02, Leases (Topic 842): Lessees will be required to recognize assets and liabilities on the balance sheet for the rights and obligations created by all leases with terms of more than 12 months. For non-public entities, the standard is effective for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. In October 2019, the FASB issued ASU 2019-10, Lease (Topic 842): Effective Dates, which defers the effective date of ASU 2016-02 for companies that are not public business entities. For calendar-year end companies that are eligible for the deferral, the effective date is January 1, 2022.

Early adoption is permitted, however, HydraFacial will elect to defer adoption until January 1, 2022, once it indicates its emerging growth company status. HydraFacial is evaluating the impact of the amended lease guidance on HydraFacial’s consolidated financial statements.

Note 2 – Summary of Significant Accounting Policies

Basis of presentation and consolidation – The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America. The consolidated financial statements are presented on a consolidated basis and include the operations of HydraFacial and its wholly owned subsidiaries. All intercompany balances and transactions have been eliminated in consolidation.

Cash and cash equivalents – For purposes of the statement of cash flows, HydraFacial considers all highly liquid investments, with an original maturity of three months or less when purchased, to be cash equivalents.

Accounts receivable – Receivables are reported at estimated net realizable values. Accordingly, HydraFacial estimates allowances for doubtful accounts. The allowance for doubtful accounts is estimated by reviewing delinquency status determined by classifying or aging individual invoices in terms of the length of the period past due, analyzing historical account write-off rates relative to receivable balances, based on economic conditions and based on the credit worthiness of individuals. Receivables are written off when determined to be uncollectible. The majority of HydraFacial’s customers are located in the United States and concentration risk in accounts receivable is limited due to the large number of customers comprising HydraFacial’s customer base. The following table presents the change in the allowance for doubtful accounts (in thousands):


	2020			2019
Allowance for doubtful accounts, beginning balance	$	732		$	188
Provision for doubtful account		1,442			659
Amounts written off		(142	)		(115	)

Allowance for doubtful accounts, ending balance	$	2,032		$	732

Inventories – Inventories are stated at the lower of cost (determined by the first-in, first-out method) or net realizable value. Obsolete inventory or inventory in excess of management’s estimated usage is written-down to its estimated market value less costs to sell, if less than its cost. There were no material write-downs of inventory for each of the three years in the period ended December 31, 2020. Inherent in the estimates of market value are management’s estimates related to economic trends, future demand for products, and technological obsolescence of HydraFacial’s products

Property and equipment – Property and equipment are stated at cost less accumulated depreciation and amortization. Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to seven years. Leasehold improvements are amortized using the straight-line method over the shorter of the terms of the leases or their estimated useful lives. Expenditures for repairs and maintenance are charged to expense as incurred.

Capitalized software – HydraFacial capitalizes certain qualified costs incurred in connection with the development of internal-use software. HydraFacial evaluates the costs incurred during the application development stage of internal use software and website development to determine whether the costs meet the criteria for capitalization. Costs related to preliminary project activities and post implementation activities including maintenance are expensed as incurred. Capitalized software is stated at cost less accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives of the assets, generally three to five years.

Impairment of long-lived assets – HydraFacial periodically evaluates whether changes have occurred that would require revision of the remaining estimated useful life of the property, improvements, and other long-lived assets or render them not recoverable. Conditions that would necessitate an impairment assessment include a significant decline in the observable market value of an asset, a significant change in the extent or manner in which an asset is used, or any other significant adverse change that would indicate that the carrying amount of an asset or group of assets may not be recoverable. An impairment loss for the amount by which the carrying amount of the assets exceeds its fair value would be recognized if the sum of the undiscounted future cash flows is less than the carrying amount of an asset. There were no such losses for each of the three years in the period ended December 31, 2020.

Intangible assets – Intangible assets are comprised of developed technology, customer relationships and trademarks. At initial recognition, intangible assets acquired in a business combination are recognized at their fair value as of the date of acquisition. Following initial recognition, intangible assets are carried at cost less accumulated amortization and impairment losses, if any, and are amortized on a straight-line basis over the estimated useful life of the asset. HydraFacial assesses the impairment of intangible assets whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.

Goodwill – Goodwill is recorded as the difference, if any, between the aggregate consideration paid for an acquisition and the fair value of the assets acquired and liabilities assumed. Goodwill is not amortized but is evaluated for impairment annually or more frequently if indicators of impairment are present or changes in circumstances suggest that impairment may exist. HydraFacial has one reporting unit and evaluates the carrying value of its goodwill annually at the end of its fiscal year or whenever events or changes in circumstances indicate that an impairment may exist.

HydraFacial first performs a qualitative assessment to determine whether it is more likely than not that the fair value of the reporting unit is less than its carrying amount. If factors indicate that the fair value of the reporting unit is less than its carrying amount, HydraFacial performs a quantitative assessment and the fair value of the reporting unit is determined under the income approach by analyzing the expected present value of future cash flows. If the carrying amount of the reporting unit is greater than its fair value, the reporting unit’s goodwill is impaired. The goodwill impairment is the equal to the difference between the carrying amount of the reporting unit and its fair value, not to exceed the carrying amount of the goodwill.

HydraFacial performed a qualitative assessment as of December 31, 2020 and 2019. Based on this assessment, HydraFacial determined that it was not more-likely-than-not that the goodwill was impaired.

Deferred Transaction Costs – HydraFacial capitalizes deferred transaction costs, which primarily consist of all incremental and directly attributable costs of the anticipated merger. The deferred transaction costs will be reclassified to additional paid-in capital upon closing. As of December 31, 2020, $2.4 million of costs were capitalized within Other assets on the Consolidated Balance Sheets.

Deferred loan costs – Deferred financing costs are amortized using a method that approximates the effective interest method over the term of the related debt facility. Deferred financing costs are netted against the related debt and the amortization of such costs is included in Interest expense, net on the Consolidated Statements of Comprehensive Loss.

Share-based compensation – HydraFacial measures share-based compensation costs at the respective grant dates, based on the fair value of the award and recognizes the expenses on a straight-line basis over the requisite service period.

HydraFacial estimates the fair value of its employee awards (the “Options”) granted under the 2016 Equity Incentive Award Plan (the “2016 Plan”) using the Black-Scholes valuation model. The Black-Scholes model requires the use of highly subjective and complex assumptions, including the Option’s expected term and the price volatility of the underlying equity interest. All Options outstanding under the 2016 Plan were cancelled without payment and concurrently replaced with new incentive units of LCP Edge Holdco LLC (“LCP Holdco”) during the year ended December 31, 2020.

HydraFacial estimates the fair value of profits interests of its parent, LCP Holdco, issued as employee awards (“Incentive Units”) granted for certain members of management pursuant to the LCP Holdco LLC Agreement using a Monte Carlo simulation model. The Monte Carlo simulation model is dependent on the estimated fair value of the equity of LCP Holdco, which is a significant estimate. The Company determined the estimated fair value of LCP Holdco’s equity, with the assistance of a third-party valuation firm, as of the grant date of the Incentive Units using a combination of discounted cash flows, a public company guideline approach, and based on comparable observable acquisitions.

The Incentive Units represent profits interests in LCP Holdco, which is an interest in the increase in the value of the entity over the Participation Threshold, as defined in the LCP Holdco LLC Agreement and as determined at the time of grant. The holder, therefore, has the right to participate in distributions of profits only in excess of the Participation Threshold. The Participation Threshold, subject to adjustment, is based on the liquidation valuation at fair value of LCP Holdco’s common unit on or around the grant date.

Compensation expense for employee stock-based awards whose vesting is subject to the fulfillment of both a market condition and the occurrence of a performance condition is recognized at the time the achievement of the performance condition becomes probable. In addition, HydraFacial recognizes the impact of forfeitures as incurred. HydraFacial’s share-based compensation expenses have historically not been material.

Income taxes – HydraFacial accounts for income taxes under the asset and liability method, which requires the recognition of deferred tax assets (DTA)s and deferred tax liabilities (DTL)s for the expected future tax consequences of events that have been included in the financial statements. Under this method, we determine DTAs and DTLs on the basis of the differences between the financial statement and tax bases of assets and liabilities by using enacted tax rates in effect for the year in which the differences are expected to reverse. The effect of a change in tax rates on DTAs and DTLs is recognized in income in the period that includes the enactment date.

HydraFacial recognizes DTAs to the extent that it believes these assets are more likely than not to be realized. In making such a determination, HydraFacial considers all available positive and negative evidence, including future reversals of existing taxable temporary differences, projected future taxable income, tax-planning strategies, carryback potential if permitted under the tax law, and results of recent operations. A valuation allowance is established, when necessary, to reduce deferred tax assets to the amount that is more likely than not to be realized based on currently available evidence. If HydraFacial determines that it would be able to realize our DTAs in the future in excess of the net recorded amount, it would make an adjustment to the DTA valuation allowance, which would reduce the provision for income taxes.

HydraFacial would record uncertain tax positions in accordance with ASC 740 on the basis of a two-step process in which (1) it determined whether it is more likely than not that the tax positions will be sustained on the basis of the technical merits of the position and (2) for those tax positions that meet the more-likely-than-not recognition threshold, HydraFacial recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority. If any, HydraFacial recognizes interest and penalties related to unrecognized tax benefits in income tax expense. As of December 31, 2020, HydraFacial had approximately $0.3 million of unrecognized tax benefits. As of December 31, 2019, HydraFacial did not have any material uncertain tax positions.

Revenue recognition – Effective January 1, 2019, HydraFacial adopted ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which is the new comprehensive revenue recognition standard that supersedes all existing revenue recognition requirements under Accounting Standards Codification (“ASC”) 605, Revenue Recognition (“ASC 605”), as well as under all subsequently issued amendments to the new revenue recognition standard (“ASC 606”). HydraFacial elected to adopt the new revenue recognition standard using the full retrospective method as of January 1, 2019. The adoption of the new standard did not have a significant effect on earnings or on the timing of HydraFacial’s transactions and, therefore, the effect of applying the new guidance was not material. As such, there were no adjustments to the prior periods

In accordance with ASU 2014-09, HydraFacial determines the amount of revenue to be recognized through application of the following steps:

•

Identify the customer contract;

•

Identify the performance obligations in the contract;

•

Determine the transaction price;

•

Allocate the transaction price to the performance obligations in the contract; and

•

Recognize revenue as the performance obligations are satisfied.

Identify the Customer Contract

HydraFacial distributes products to customers both through national and international retailers as well as direct-to-consumers through its e-commerce and store channels. HydraFacial sells to direct customers, including non-corporate customers (such as spas and dermatologist offices), corporate customers, and international distributors. For non-corporate customers, a contract exists when the customer initiates an order by submitting a purchase request. Such requests are accepted by HydraFacial upon issuance of a corresponding invoice. For corporate customers, a contract exists when the customer submits a purchase order and is accepted upon issuance of a subsequent invoice. For distributors, a customer submits an order request which is processed in the system by a sales representative. This is also considered accepted upon the subsequent issuance of an invoice by HydraFacial. For all customers, each invoice is considered a separate contract for accounting purposes.

Revenue is recognized at a point in time when control of the products are transferred to the customer. Typical payment terms provide that HydraFacial’s customers pay within 30 to 120 days of the invoice.

Identify the Performance Obligations in the Contract and Recognize Revenue

HydraFacial has determined that each of its products is distinct and represents a separate performance obligation, which is aligned with HydraFacial’s policy prior to adoption of ASC 606 that each product has standalone value. The customer can benefit from each product on its own or together with other resources that are readily available to the customer. The products are separately identifiable from other promises in the contract. Control over HydraFacial’s products transfers to the customer upon shipment of the products from HydraFacial’s warehouse facility. Therefore, revenue associated with product purchases is recognized at a point in time upon shipment to the intended customer. This is consistent with HydraFacial’s revenue recognition policy prior to adoption of ASC 606.

Determine and Allocate the Transaction Price to the Performance Obligations in the Contract

The transaction price of a contract consists of fixed and variable consideration components pursuant to the applicable contractual terms and excludes sales tax. HydraFacial has entered into contracts that have variable consideration in the form of rebates offered to select customers. The amount of variable consideration for rebates is estimated at the time of sale based on the most likely amount and was not material. HydraFacial also records other discounts, returns, and warranties net of revenue, which are not historically material.

HydraFacial’s contracts with customers may include multiple performance obligations. For such arrangements, HydraFacial allocates the transaction price to each performance obligation based on its relative standalone selling price. Standalone selling price is the price at which HydraFacial would sell a promised product separately to a customer. Judgment is required to determine the standalone selling price for each distinct performance obligation.

Costs to Obtain and Fulfill a Contract with a Customer

HydraFacial elected the practical expedient to recognize the incremental costs of obtaining contracts as an expense when incurred if the amortization period of the assets that HydraFacial otherwise would have recognized is one year or less. The incremental costs to obtain contracts was not material.

Practical expedients

HydraFacial elected to account for shipping and handling activities performed before transfer of control of products as a fulfillment activity instead of a performance obligation. Shipping and handling activities that occur after the customer has obtained control do not constitute a separate and distinct performance obligation.

HydraFacial elected to exclude from the measurement of the transaction price all taxes assessed by a governmental authority that are both imposed on and concurrent with a specific revenue-producing transaction and collected by the entity from a customer.

As noted above, HydraFacial elected to recognize the incremental costs of obtaining contracts, such as sales commissions, as an expense when incurred. These costs are included in operating expenses.

Shipping and handling costs – Shipping and handling charges billed to the customers are included in net sales and the associated costs are reported as cost of sales in the Consolidated Statements of Comprehensive Loss. The costs associated with shipping goods to customers recorded in cost of sales were $1.8 million, $3.4 million and $3.0 million for each of the three years in the period ended December 31, 2020, respectively.

Advertising costs – Advertising costs are expensed in the period in which they are incurred. Total advertising costs, included in Selling and marketing expenses on the Consolidated Statements of Comprehensive Loss, were $3.3 million, $4.7 million and $2.9 million for each of the three years in the period ended December 31, 2020, respectively.

Research and development – Research and development costs are expensed as incurred. Substantially all research and development expenses are related to new product development and design improvements or increased functionality in current products.

Foreign currency translation – HydraFacial’s foreign operations are subject to exchange rate fluctuations and foreign currency transaction gains and losses. The functional currency for HydraFacial’s foreign subsidiaries is the local currency. When remeasuring from a functional currency to the reporting currency, assets and liabilities are remeasured into U.S. dollars at exchange rates in effect at the balance sheet date, and equity is translated using historical rates. The impact of changes in exchange rates on the translation of the Consolidated Balance Sheets is reflected in accumulated other comprehensive income. Sales and expenses are remeasured using weighted-average exchange rates for each period. Gains and losses resulting from foreign currency transactions are recognized in other income (expense), net in the Consolidated Statements of Comprehensive Loss.

Comprehensive loss – Comprehensive loss consists of net loss and foreign currency translation adjustments and is presented in the Consolidated Statements of Comprehensive Loss.

Concentrations of credit risk – Financial instruments that potentially subject HydraFacial to significant concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. HydraFacial primarily maintains its operating cash balance with a major financial institution. At times, cash balances may be in excess of Federal Deposit Insurance Corporation insurance limits. HydraFacial has not experienced any losses in these accounts and does not believe it is exposed to any significant credit risk in this area. Accounts receivable are unsecured and HydraFacial is at risk to the extent such amounts become uncollectible. Concentration of credit risk with respect to accounts receivable is generally mitigated by HydraFacial performing ongoing credit evaluations of its customers.

For each of the three years in the period ended December 31, 2020, there were no customers representing greater than 10% of HydraFacial’s total sales. As of December 31, 2020, there was one customer representing greater than 10% of HydraFacial’s receivables. As of December 2019, there were no customers representing greater than 10% of HydraFacial’s receivables.

Fair value of assets and liabilities – FASB ASC 820, Fair Value Measurements and Disclosures, defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. FASB ASC 820 defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. FASB ASC 820 also establishes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The standard describes three levels of inputs that may be used to measure fair value:

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 2 – Observable inputs other than Level 1 prices such as quoted prices for similar assets and liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

As of December 31, 2020 and 2019, HydraFacial’s financial instruments include cash and cash equivalents, accounts receivable, note receivable, accounts payable, accrued expenses, and long-term debt. The carrying values of cash, accounts receivable and payable, and accrued expenses are representative of their fair values due to their short-term maturities. The carrying amount of HydraFacial’s outstanding debt approximates the fair value as the debt bears a floating rate that approximates the market interest rate. The estimated fair value of HydraFacial’s debt at December 31, 2020 and 2019, approximated its carrying value.

Preferred stock – HydraFacial has issued Class A Preferred Stock. Holders are entitled to receive cumulative dividends, receive liquidation preference, and have no voting rights.

Net Loss Attributable to Common Shareholders – Basic net loss per share is computed using net loss available to common stockholders divided by the weighted-average number of common shares outstanding during the period. Diluted net income loss per share reflects the dilutive effects of stock options outstanding during the period, to the extent such securities would not be anti-dilutive, and is determined using the treasury stock method.

Recently issued accounting pronouncements

If HydraFacial or its prospective parent company becomes public or is public, HydraFacial expects such public company to be an “emerging growth company.” The Jumpstart Our Business Startups Act, or the JOBS Act, allows HydraFacial to delay adoption of new or revised accounting pronouncements applicable to public companies until such pronouncements are made applicable to private companies. HydraFacial has elected to use this extended transition period for complying with new or revised accounting standards that have different effective dates for public and private companies until the earlier of the date that the Company (i) is no longer an emerging growth company or (ii) affirmatively and irrevocably opts out of the extended transition period provided in the JOBS Act. As a result, HydraFacial’s financial statements may not be comparable to the financial statements of issuers who are required to comply with the effective date for new or revised accounting standards that are applicable to public companies.

2020 Adoption

Fair Value Measurement. In August 2018, the Financial Accounting Standards Board (“FASB”) issued ASU 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework – Changes to the Disclosure Requirements for Fair Value Measurement (“ASU 2018-13”). This ASU modifies the disclosure requirements on fair value measurements by removing, modifying, or adding certain disclosures. ASU 2018-13 is effective for all entities beginning on January 1, 2020. Certain disclosures in ASU 2018-13 are required to be applied on a retrospective basis and others on a prospective basis. The adoption of this guidance did not have a material impact on the consolidated financial statements.

Internal-use Software. In August 2018, the FASB issued ASU No. 2018-15, Intangible – Goodwill and Others – Internal-use Software (Subtopic 350) – Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract (“ASU 2018-15”), which aligns the requirements for capitalizing implementation costs incurred in a hosting arrangement that is a service contract with the requirements for capitalizing implementation costs incurred to develop or obtain internal-use software. ASU 2018-15 is effective for public entities for fiscal years beginning after December 15, 2020, including interim periods within that fiscal year, and can be applied either retrospectively or prospectively to all implementation costs incurred after the date of adoption. Early adoption is permitted. HydraFacial adopted this guidance prospectively as of January 1, 2020, which did not have an impact on the consolidated financial statements.

Credit Losses. In May 2019, the FASB issued ASU No. 2019-05, Financial Instruments – Credit Losses (Topic 326) (“ASU 2019-05”). ASU 2019-05 provides relief to certain entities adopting ASU No. 2016-13, Measurement of Credit Losses on Financial Instruments (“ASU 2016-13”). The amendments accomplish those objectives by providing entities with an option to irrevocably elect the fair value option in Subtopic 825-10, applied on an instrument-by-instrument basis for eligible instruments, that are within the scope of Subtopic 326-20, upon adoption of Topic 326. The fair value option election does not apply to held-to-maturity debt securities. ASU 2019-05 has the same transition as ASU 2016-13 and is effective for periods beginning after December 15, 2019, with adoption permitted after this update. HydraFacial adopted ASU 2019-05 along with ASU 2016-13, for which early adoption is permitted, as of January 1, 2020, which did not have an impact on HydraFacial’s consolidated financial statements.

Credit losses for trade receivables is determined based on historical information, current information and reasonable and supportable forecasts. HydraFacial has concluded that the adoption of the standard was not material as the composition of the trade receivables at the reporting date is consistent with that used in developing the historical credit-loss percentages. Further, the risk characteristics of HydraFacial’s customer and composition of the portfolio have not changed significantly over time.

LIBOR. In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting. In response to concerns about structural risks related to interbank exchange rates, the FASB took the initiative to identify alternative reference rates, such as the Secured Overnight Financing Rate (SOFR), that are more observable or transaction based and that are less susceptible to manipulation. The amendments in this Update apply to contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The expedients and exceptions provided by the amendments do not apply to contract modifications made and hedging relationships entered into or evaluated after December 31, 2022, except for hedging relationships existing as of December 31, 2022, that an entity has elected certain optional expedients for and that are retained through the end of the hedging relationship. This guidance is effective for all entities as of March 12, 2020 through December 31, 2022. HydraFacial adopted this guidance as of March 12, 2020, which did not have a material impact on HydraFacial’s consolidated financial statements.

Accounting Pronouncements Not Yet Adopted

Income Taxes. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). The amendments in this ASU 2019-12 simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The update is effective for all entities for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted and is effective for HydraFacial beginning on January 1, 2021. HydraFacial is evaluating the impact of ASU 2019-12 on its consolidated financial statements.

INITIAL PUBLIC OFFERING	3 Months Ended	12 Months Ended
INITIAL PUBLIC OFFERING	Mar. 31, 2021	Dec. 31, 2020
Text Block [Abstract]
INITIAL PUBLIC OFFERING	NOTE 3. INITIAL PUBLIC OFFERING Pursuant to the Initial Public Offering, the Company sold 46,000,000 Units, which includes the full exercise by the underwriters of their option to purchase an additional 6,000,000 Units, at a purchase price of $10.00 per Unit. Each Unit consists of one share of Class A common stock and one-third of one redeemable warrant (“Public Warrant”). Each whole Public Warrant entitles the holder to purchase one share of Class A common stock at an exercise price of $11.50 per share (see Note 7).	NOTE 4. INITIAL PUBLIC OFFERING Pursuant to the Initial Public Offering, the Company sold 46,000,000 Units, which includes the full exercise by the underwriters of their option to purchase an additional 6,000,000 Units, at a purchase price of $10.00 per Unit. Each Unit consists of one share of Class A common stock and one-third of one redeemable warrant (“Public Warrant”). Each whole Public Warrant entitles the holder to purchase one share of Class A common stock at an exercise price of $11.50 per share (see Note 8).

PRIVATE PLACEMENT	3 Months Ended	12 Months Ended
PRIVATE PLACEMENT	Mar. 31, 2021	Dec. 31, 2020
Equity [Abstract]
PRIVATE PLACEMENT	NOTE 4. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 9,333,333 Private Placement Warrants at a price of $1.50 per private Placement Warrant, for an aggregate purchase price of $14,000,000. Each Private Placement Warrant is exercisable to purchase one share of Class A common stock at a price of $11.50 per share. The proceeds from the Private Placement Warrants were added to the proceeds from the Initial Public Offering held in the Trust Account.	NOTE 5. PRIVATE PLACEMENT Simultaneously with the closing of the Initial Public Offering, the Sponsor purchased an aggregate of 9,333,333 Private Placement Warrants at a price of $1.50 per private Placement Warrant, for an aggregate purchase price of $14,000,000. Each Private Placement Warrant is exercisable to purchase one share of Class A common stock at a price of $11.50 per share. The proceeds from the Private Placement Warrants were added to the proceeds from the Initial Public Offering held in the Trust Account. If the Company does not complete a Business Combination within the Combination Period, the proceeds of the sale of the Private Placement Warrants will be used to fund the redemption of the Public Shares (subject to the requirements of applicable law) and the Private Placement Warrants will expire worthless. There will be no redemption rights or liquidating distributions from the Trust Account with respect to the Private Placement Warrants. At the date of the IPO, the fair value of the Private Placement Warrants was $1.17. The difference between the purchase price of $1.50 and the fair value at the IPO date of $1.17 was recorded within equity as a contribution in excess of the fair value of the Private Placement Warrants in the amount of $3,080,000.

RELATED PARTY TRANSACTIONS

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

RELATED PARTY TRANSACTIONS

NOTE 5. RELATED PARTY TRANSACTIONS

Founder Shares

On August 5, 2020, the Company issued an aggregate of 11,500,000 shares of Class B common stock (the “Founder Shares”) to the Sponsor for an aggregate purchase price of $25,000 in cash. The Founder Shares included an aggregate of up to 1,500,000 shares of Class B common stock subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment option was not exercised in full or in part, so that the Sponsor would own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering (assuming the Sponsor did not purchase any Public Shares in the Initial Public Offering). As a result of the underwriter’s election to fully exercise its over-allotment option, 1,500,000 Founder Shares are no longer subject to forfeiture.

The Sponsor has agreed that, subject to certain limited exceptions, the Founder Shares will not be transferred, assigned, sold or released from escrow until the earlier of (A) one year after the completion of a Business Combination or (B) the date subsequent to the Company’s initial Business Combination on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property. Notwithstanding the foregoing, if the last reported sale price of the shares of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination, the converted Class A common stock will be released from the lock-up.

Due from Sponsor

At the closing of the Initial Public Offering on October 2, 2020, a portion of the proceeds from the sale of the Private Placement Warrants in the amount of $4,800,000 was due to the Company to be held outside of the Trust Account for working capital purposes. Such amount was paid by the Sponsor to the Company on October 6, 2020.

Advances from Related Party

The Sponsor paid for certain offering costs on behalf of the Company in connection with the Initial Public Offering. The outstanding balance of $229,886 under these advances was repaid subsequent to the closing of the Initial Public Offering, on October 6, 2020.

Promissory Note — Related Party

On July 23, 2020, the Company issued an unsecured promissory note to the Sponsor (the “Promissory Note”), pursuant to which the Company could borrow up to an aggregate principal amount of $300,000. The Promissory Note was non-interest bearing and payable on the earlier of (i) January 31, 2021 or (i) the consummation of the Initial Public Offering. The outstanding balance under the Promissory Note of $261,386 was repaid subsequent to the closing of the Initial Public Offering on October 6, 2020.

Administrative Support Agreement

The Company entered into an agreement, commencing on September 30, 2020 through the earlier of the Company’s consummation of a Business Combination and its liquidation, to pay an affiliate of the Company’s Chief Executive Officer, a total of up to $10,000 per month for office space and administrative support services. For the three months ended March 31, 2021, the Company incurred and paid $30,000 in fees for these services.

Related Party Loans

In order to finance transaction costs in connection with a Business Combination, the Sponsor or an affiliate of the Sponsor or certain of the Company’s directors and officers may, but are not obligated to, loan the Company funds as may be required (“Working Capital Loans”). If the Company completes a Business Combination, the Company would repay the Working Capital Loans out of the proceeds of the Trust Account released to the Company. Otherwise, the Working Capital Loans would be repaid only out of funds held outside the Trust Account. In the event that a Business Combination does not close, the Company may use a portion of proceeds held outside the Trust Account to repay the Working Capital Loans, but no proceeds held in the Trust Account would be used to repay the Working Capital Loans. Except for the foregoing, the terms of such Working Capital Loans, if any, have not been determined and no written agreements exist with respect to such loans. The Working Capital Loans would either be repaid upon consummation of a Business Combination, without interest, or, at the lender’s discretion, up to $1,500,000 of such Working Capital Loans may be convertible into warrants of the post-Business Combination entity at a price of $1.50 per warrant. The warrants would be identical to the Private Placement Warrants.

NOTE 6. RELATED PARTY TRANSACTIONS

Founder Shares

On August 5, 2020, the Company issued an aggregate of 11,500,000 shares of Class B common stock (the “Founder Shares”) to the Sponsor for an aggregate purchase price of $25,000 in cash. The Founder Shares included an aggregate of up to 1,500,000 shares of Class B common stock subject to forfeiture by the Sponsor to the extent that the underwriters’ over-allotment option was not exercised in full or in part, so that the Sponsor would own, on an as-converted basis, 20% of the Company’s issued and outstanding shares after the Initial Public Offering. As a result of the underwriter’s election to fully exercise its over-allotment option, 1,500,000 Founder Shares are no longer subject to forfeiture.

Due from Sponsor

Advances from Related Party

The Sponsor paid for certain offering costs on behalf of the Company in connection with the Initial Public Offering. The outstanding balance of 229,886 under these advances was repaid subsequent to the closing of the Initial Public Offering, on October 6, 2020.

Promissory Note — Related Party

Administrative Support Agreement

The Company entered into an agreement, commencing on September 30, 2020 through the earlier of the Company’s consummation of a Business Combination and its liquidation, to pay an affiliate of the Company’s Chief Executive Officer, a total of up to $10,000 per month for office space and administrative support services. For the period from July 8, 2020 (inception) through December 31, 2020, the Company incurred and paid $30,000 in fees for these services.

Related Party Loans

LCP Edge Intermediate, Inc. [Member]

RELATED PARTY TRANSACTIONS

Note 13 – Related-Party Transactions

HydraFacial entered into management service agreements with two related parties, who are the Parent’s owners, to provide financial and management advisory services to HydraFacial. Both management services agreements provide for a quarterly monitoring fee in an amount equal to the product of the (a) the greater of (x) $0.1 million and (y) 1.25% of HydraFacial’s EBITDA for the twelve-month period ending on the last calendar day of the immediately preceding applicable calendar quarter, multiplied by (b) the pro rata proportion as defined in the agreement.

In addition, the management services agreement provides for other fees in relation to services that may be provided in connection with equity and/or debt financing, acquisition of any other business, company, product line or enterprise, or divestiture of any division, business, and product or material assets. The fees vary between 1% and 2% of the related transaction amount.

HydraFacial recorded approximately $0.1 million and $0.5 million of charges related to management services fees for the three months ended March 31, 2021 and 2020, respectively. These amounts are included in General and administrative expenses on the Condensed Consolidated Statements of Comprehensive Loss. There were $1.9 million and $0.5 million due to these related parties at March 31, 2021 and 2020 included in Accounts payable on the Condensed Consolidated Balance Sheets.

HydraFacial leases its office in Signal Hill, California, from an entity owned by minority stockholders of HydraFacial who are no longer active employees. Lease expense under this lease was $0.1 million and $0.1 million for the three months ended March 31, 2021 and 2020, respectively.

HydraFacial issued shares to a key member of management in exchange for a note receivable with a $0.6 million face value. Interest on the note accrues at a rate of 8% and matures in December 2022. Interest receivable is presented as a component of Other assets on the Condensed Consolidated Balance Sheets. As there is no intent for the issuer to pay the note within a reasonably short period of time, HydraFacial has presented the note as a deduction of stockholders’ deficit. The outstanding note receivable from stockholder was $0.5 million as of both March 31, 2021 and December 31, 2020. Subsequent to March 31, 2021, with the consummation of the Business Combination, the outstanding note receivable amount was settled.

On April 10, 2020, the Company’s existing Credit Agreement with a bank that is also a related party was amended to include a “PIK” interest component of 2% that accrues on the outstanding balances of the Term Loan and Revolver. Additionally, the Company is required to pay an early prepayment fee of 2.00% of the amount prepaid or repaid on the Term Loan prior to April 10, 2021, and 1.00% if prepaid between April 11, 2021 and April 10, 2022. As of March 31, 2021, the amount due to a related party was $191.4 million in connection with the Term Loan and Revolver. See Note 7 for additional information on the Term Loans.

On April 10, 2020, HydraFacial also entered into a second credit facility with a related party to provide for borrowings of $30.0 million under the Term A Loan. As of March 31, 2021, the amount due to the related party was $34.6 million in connection with the Term A Loan and related PIK Interest. See Note 7 for additional information on the Term A Loan. HydraFacial sells to a customer that is owned directly or indirectly by a key member of management. Sales for this related party and the outstanding accounts receivable balance are as follows for the periods indicated (in thousands):


	Three Months Ended
	March 31, 2021		March 31, 2020
Sales to related party	$	100	$	96
Accounts receivable	$	322	$	75

Note 15 – Related-Party Transactions

HydraFacial entered into management service agreements with two related parties who are the Parent’s owners to provide financial and management advisory services to HydraFacial.

Both management services agreements provide for a quarterly monitoring fee in an amount equal to the product of the (a) the greater of (x) $0.1 million and (y) 1.25% of HydraFacial’s EBITDA for the twelve-month period ending on the last calendar day of the immediately preceding applicable calendar quarter, multiplied by (b) the pro rata proportion as defined in the agreement.

HydraFacial recorded approximately $1.8 million, $1.8 million and $3.2 million of charges related to management services fees for each of the three years in the period ended December 31, 2020, respectively. There were no amounts due to these related parties at December 31, 2020 and 2019. These amounts are included in General and administrative expenses on the Consolidated Statements of Comprehensive Loss.

HydraFacial leases its office in Signal Hill, California, from an entity owned by minority stockholders of HydraFacial who are no longer active employees. See Note 12 for further details.

In 2016, HydraFacial issued shares to a key member of management in exchange for a note receivable with a $0.6 million face value. Interest on the note accrues at a rate of 8% and matures in December 2022. Interest receivable is presented as a component of Other assets on the Consolidated Balance Sheets. As there is no intent for the issuer to pay the note within a reasonably short period of time, HydraFacial has presented the note as a deduction of stockholders’ equity. As of December 31, 2020 and 2019, the outstanding note receivable amounts were as follows:


(in thousands)	2020		2019
Note receivable from stockholder	$	554	$	554

During August 2019, HydraFacial amended the Company’s existing Credit Agreement with a bank that is also a related party to provide an additional $10.0 million of Term Loans. On April 10, 2020, the Company further amended this to include a “PIK” interest component of 2% that accrues on the outstanding balances of the Term Loan and Revolver. Additionally, the Company is required to pay an early prepayment fee of 2.00% of the amount prepaid or repaid on the Term Loan prior to April 10, 2021, and 1.00% if prepaid between April 11, 2021 and April 10, 2022. As of December 31, 2020, the amount due to a related party was $186.0 million in connection with the Term Loan. See Note 8 for additional information on the Term Loans.

On April 10, 2020, HydraFacial also entered into a second credit facility with a related party to provide for borrowings of $30.0 million under the Term A Loan. As of December 31, 2020, the amount due to the related party was $33.4 million in connection with the Term A Loan and related PIK Interest. See Note 8 for additional information on the Term A Loan.

HydraFacial sells to a customer that is owned directly or indirectly by a key member of management. Sales to this related party and the outstanding accounts receivable balance are as follows for each of the three years in the period ended December 31, 2020:


(in thousands)	2020		2019		2018
Sales to related party	$	337	$	351	$	183
Accounts receivable	$	250	$	122	$	51

COMMITMENTS	3 Months Ended	12 Months Ended
COMMITMENTS	Mar. 31, 2021	Dec. 31, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS	NOTE 6. COMMITMENTS *Registration and Stockholder Rights Agreement* Pursuant to a registration and stockholder rights agreement entered into on September 29, 2020, the holders of the Founder Shares, Private Placement Warrants and warrants that may be issued upon conversion of Working Capital Loans (and any Class A common stock issuable upon the exercise of the Private Placement Warrants and warrants issued upon conversion of the Working Capital Loans) are entitled to registration rights. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to consummation of a Business Combination. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lockup period. The Company will bear the expenses incurred in connection with the filing of any such registration statements. *Underwriting Agreement* The underwriters are entitled to a deferred fee of $0.35 per Unit, or $16,100,000 in the aggregate. Subject to the terms of the underwriting agreement, (i) the deferred fee will be placed in the Trust Account and released to the underwriters only upon the completion of a Business Combination and (ii) the deferred fee will be waived by the underwriters in the event that the Company does not complete a Business Combination. The deferred fee was paid upon completion of the Business Combination described in Note 1. *Merger Agreement* On May 4, 2021 (the “Closing Date”), the registrant consummated the previously announced business combination pursuant to that certain Agreement and Plan of Merger, dated December 8, 2020, by and among Vesper Healthcare Acquisition Corp. (“Vesper Healthcare”), Hydrate Merger Sub I, Inc. (“Merger Sub I”), Hydrate Merger Sub II, LLC (“Merger Sub II”), LCP Edge Intermediate, Inc., the indirect parent of Edge Systems LLC d/b/a The HydraFacial Company (“HydraFacial”), and LCP Edge Holdco, LLC (“LCP,” and, in its capacity as the stockholders’ representative, the “Stockholders’ Representative”) (the “Merger Agreement”), which provided for: (a) the merger of Merger Sub I with and into HydraFacial, with HydraFacial continuing as the surviving corporation (the “First Merger”), and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of HydraFacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”). As a result of the First Merger, the registrant owns 100% of the outstanding common stock of HydraFacial and each share of common stock and preferred stock of HydraFacial has been cancelled and converted into the right to receive a portion of the consideration payable in connection with the Mergers. As a result of the Second Merger, the registrant owns 100% of the outstanding interests in Merger Sub II. In connection with the closing of the Business Combination (the “Closing”), the registrant owns, directly or indirectly, 100% of the stock of HydraFacial and its subsidiaries and the stockholders of HydraFacial as of immediately prior to the effective time of the First Merger (the “HydraFacial Stockholders”) hold a portion of the Class A Common Stock, par value $0.0001 per share, of the registrant (the “Class A Stock”). Pursuant to the terms of the Merger Agreement and customary adjustments set forth therein, the aggregate merger consideration paid to the HydraFacial Stockholders in connection with the Business Combination was approximately $975,000,000 less HydraFacial’s net indebtedness as of the Closing Date, and subject to further adjustments for transaction expenses, and net working capital relative to a target. The merger consideration included both cash consideration and consideration in the form of newly issued Class A Stock. The aggregate cash consideration paid to the HydraFacial Stockholders at the Closing was approximately $368 million, consisting of the Company’s cash and cash equivalents as of the Closing (including proceeds of $350 million from the Company’s private placement of an aggregate of 35,000,000 shares of Class A Stock (the “Private Placement”) with a limited number of accredited investors (as defined by Rule 501 of Regulation D) without any form of general solicitation or general advertising pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended (the “Securities Act”), and approximately $433 million of cash available to the Company from the trust account that held the proceeds from the Company’s initial public offering (the “Trust Account”) after giving effect to income and franchise taxes payable in respect of interest income earned in the Trust Account and redemptions that were elected by the Company’s public stockholders, minus approximately $224 million used to repay HydraFacial’s outstanding indebtedness at the Closing, minus approximately $94 million of transaction expenses of HydraFacial and the Company, minus $100 million. The remainder of the consideration paid to the HydraFacial Stockholders consisted of 35,501,743 newly issued shares of Class A Stock (the “Stock Consideration”). The foregoing consideration paid to the HydraFacial Stockholders may be further increased by up to $75.0 million payable as earn-out shares of Class A Stock upon the completion of certain acquisitions within one year of Closing pursuant to the terms of the Merger Agreement. All outstanding shares of Class B Stock were automatically converted into shares of Class A Stock on a one-for-one basis at the Closing and will continue to be subject to the transfer restrictions applicable to such shares of Class B Stock. In connection with the Merger Agreement, certain accredited investors (the “PIPE Investors”) entered into subscription agreements (the “PIPE Subscription Agreements”) pursuant to which the PIPE Investors agreed to purchase 35,000,000 shares (the “PIPE Shares”) of The Beauty Health Company Class A Common Stock at a purchase price per share of $10.00 and an aggregate purchase price of $350,000,000 (the “PIPE Investment”). The PIPE Investment was consummated substantially concurrently with the Closing. In connection with the Closing, holders of 2,672,690 shares of Class A Stock exercised their rights to redeem those shares for cash at an approximate price of $10.00 per share, for an aggregate of approximately $26,737,737, which was paid to such holders at Closing. Immediately after giving effect to the Merger and the PIPE Investment, there were 125,329,053 shares of The Beauty Health Company Class A Common Stock. In connection with the Closing, the registrant changed its name from “Vesper Healthcare Acquisition Corp.” to “The Beauty Health Company”.	NOTE 7. COMMITMENTS *Registration and Stockholder Rights Agreement* Pursuant to a registration and stockholder rights agreement entered into on September 29, 2020, the holders of the Founder Shares, Private Placement Warrants and warrants that may be issued upon conversion of Working Capital Loans (and any Class A common stock issuable upon the exercise of the Private Placement Warrants and warrants issued upon conversion of the Working Capital Loans) are entitled to registration rights. The holders of these securities are entitled to make up to three demands, excluding short form demands, that the Company register such securities. In addition, the holders have certain “piggy-back” registration rights with respect to registration statements filed subsequent to consummation of a Business Combination. However, the registration rights agreement provides that the Company will not permit any registration statement filed under the Securities Act to become effective until termination of the applicable lockup period. The Company will bear the expenses incurred in connection with the filing of any such registration statements. *Underwriting Agreement* The underwriters are entitled to a deferred fee of $0.35 per Unit, or $16,100,000 in the aggregate. Subject to the terms of the underwriting agreement, (i) the deferred fee will be placed in the Trust Account and released to the underwriters only upon the completion of a Business Combination and (ii) the deferred fee will be waived by the underwriters in the event that the Company does not complete a Business Combination. *Merger Agreement* On December 8, 2020, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, Merger Sub I, Merger Sub II, LCP Edge Intermediate, Inc., indirect parent of Edge Systems LLC d/b/a The HydraFacial Company (“HydraFacial”), and LCP Edge Holdco, LLC (“LCP” and, in its capacity as the stockholders’ representative, the “Stockholders’ Representative”), which provides for, among other things: (i) the merger of Merger Sub I with and into HydraFacial, with HydraFacial continuing as the surviving corporation (the “First Merger”); and (ii) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of HydraFacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers”). The transactions set forth in the Merger Agreement, including the Mergers, will constitute a “Business Combination”. Pursuant to the Merger Agreement, the aggregate merger consideration payable to the stockholders of HydraFacial will be paid in a combination of stock and cash equal to $975,000,000, subject to adjustments, (the “Merger Consideration”). The cash consideration will be an amount equal to the Company’s cash and cash equivalents as of the Closing (including proceeds in connection with the Private Placement and the funds in the Company’s Trust Account), minus HydraFacial’s outstanding indebtedness at the closing, minus transaction expenses of HydraFacial and the Company, minus $100,000,000. However, cash consideration, together with certain contractual fee payments, will be subject to a maximum of 60% of the aggregate Merger Consideration. The remainder of the Merger Consideration will be paid in a number of shares of newly issued Class A common stock of the Company (“Company Common Stock”) valued at $10.00 per share. In addition, the Company will pay off, or cause to be paid off, on behalf of HydraFacial and in connection with the Closing, HydraFacial’s outstanding indebtedness under its existing credit facilities. In addition to the consideration to be paid at the closing of the transactions contemplated by the Merger Agreement (the “Closing”), the stockholders of HydraFacial may be entitled to receive contingent consideration from the Company of up to $75,000,000, payable in shares of Company Common Stock, based upon revenues of certain identified acquisition targets if such acquisitions are consummated within one year of the Closing. The Business Combination will be consummated subject to the deliverables and provisions as further described in the Merger Agreement.

STOCKHOLDER'S EQUITY	3 Months Ended	12 Months Ended
STOCKHOLDER'S EQUITY	Mar. 31, 2021	Dec. 31, 2020
STOCKHOLDER'S EQUITY	NOTE 7. STOCKHOLDER’S EQUITY *Preferred Stock—The Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At March 31, 2021 and December 31, 2020, there were no shares of preferred stock issued or outstanding. Class* *A Common Stock—The Company is authorized to issue 200,000,000 shares of Class A common stock with a par value of $0.0001 per share. Holders of Class A common stock are entitled to one vote for each share. At March 31, 2021 and December 31, 2020, there were no shares of Class A common stock issued or outstanding, excluding 46,000,000 shares of Class A common stock subject to possible redemption. Class* *B Common Stock*—The Company is authorized to issue 20,000,000 shares of Class B common stock with a par value of $0.0001 per share. Holders of Class B common stock are entitled to one vote for each share. At March 31, 2021 and December 31, 2020, there were 11,500,000 shares of Class B common stock issued and outstanding. Holders of Class B common stock will have the right to elect all of the Company’s directors prior to a Business Combination. Holders of Class A common stock and Class B common stock will vote together as a single class on all other matters submitted to a vote of stockholders except as required by law. The shares of Class B common stock will automatically convert into shares of Class A common stock upon the consummation of a Business Combination at a ratio such that the number of shares of Class A common stock issuable upon conversion of all Founder Shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of shares of common stock issued and outstanding upon completion of the Initial Public Offering, plus (ii) the sum of (a) all shares of common stock issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities or deemed issued by the Company in connection with or in relation to the completion of a Business Combination, excluding (1) any shares of Class A common stock or equity-linked securities exercisable for or convertible into shares of Class A common stock issued, or to be issued, to any seller in a Business Combination and any (2) Private Placement Warrants issued to the Sponsor or any of its affiliates upon conversion of Working Capital Loans minus (b) the number of Public Shares redeemed by Public Stockholders in connection with a Business Combination. In no event will the shares of our Class B common stock convert into shares of our Class A common stock at a rate of less than one to one.	NOTE 8. STOCKHOLDERS’ EQUITY *Preferred Stock—The Company is authorized to issue 1,000,000 shares of preferred stock with a par value of $0.0001 per share with such designations, voting and other rights and preferences as may be determined from time to time by the Company’s board of directors. At December 31, 2020, there were no shares of preferred stock issued or outstanding. Class* *A Common Stock—The Company is authorized to issue 200,000,000 shares of Class A common stock with a par value of $0.0001 per share. Holders of Class A common stock are entitled to one vote for each share. At December 31, 2020, there were 8,351,205 shares of Class A common stock issued or outstanding, excluding 37,648,795 shares of Class A common stock subject to possible redemption. Class* *B Common Stock*—The Company is authorized to issue 20,000,000 shares of Class B common stock with a par value of $0.0001 per share. Holders of Class B common stock are entitled to one vote for each share. At December 31, 2020, there were 11,500,000 shares of Class B common stock issued and outstanding. Holders of Class B common stock will have the right to elect all of the Company’s directors prior to a Business Combination. Holders of Class A common stock and Class B common stock will vote together as a single class on all other matters submitted to a vote of stockholders except as required by law. The shares of Class B common stock will automatically convert into shares of Class A common stock upon the consummation of a Business Combination at a ratio such that the number of shares of Class A common stock issuable upon conversion of all Founder Shares will equal, in the aggregate, on an as-converted basis, 20% of the sum of (i) the total number of shares of common stock issued and outstanding upon completion of the Initial Public Offering, plus (ii) the sum of (a) all shares of common stock issued or deemed issued or issuable upon conversion or exercise of any equity-linked securities or deemed issued by the Company in connection with or in relation to the completion of a Business Combination, excluding (1) any shares of Class A common stock or equity-linked securities exercisable for or convertible into shares of Class A common stock issued, or to be issued, to any seller in a Business Combination and any (2) Private Placement Warrants issued to the Sponsor or any of its affiliates upon conversion of Working Capital Loans minus (b) the number of Public Shares redeemed by Public Stockholders in connection with a Business Combination. In no event will the shares of our Class B common stock convert into shares of our Class A common stock at a rate of less than one to one.
LCP Edge Intermediate, Inc. [Member]
STOCKHOLDER'S EQUITY	Note 14 – Stockholders’ Deficit Common Stock In October 2016, HydraFacial implemented a single class common stock structure by authorizing 60,000 shares of common stock in connection with the formation of LCP Edge Intermediate, Inc. As of March 31, 2021 and December 31, 2020, there was 54,358 Common Stock shares issued and outstanding. The Common Stock is entitled to one vote per share and all shares are outstanding. HydraFacial has not declared or paid any dividends with respect to its Common Stock. Preferred Stock Effective October 2016, the Board of Directors authorized the issuance of preferred stock, with a par value of $0.01 per share. As of March 31, 2021 and December 31, 2020, there were 1,500 shares of preferred stock authorized and 931 shares of preferred stock outstanding designated as non-voting Class A Preferred Stock. The Class A Preferred Stock shares are entitled to receive 8% per annum dividends based on the per share liquidation value of the preferred stock, calculated daily and compounded quarterly. HydraFacial’s governing documents do not provide for redemption of, conversion of, or participation in dividends paid on Class A common stock by the Class A Preferred Stock. However, the cumulative dividends must be paid on the preferred stock prior to paying dividends on the common stock. The Class A Preferred Stock is not callable and is not subject to any sinking fund or other mandatory redemption. On August 24, 2018, HydraFacial paid $13.7 million in 8% cumulative dividends earned through the date of payment, and modified the terms of the Class A Preferred Stock to pay a distribution of $85.0 million on the $100,000 per share liquidation value, for a total distribution of $98.7 million. As a result of the distribution, the aggregate liquidation preference was reduced to $8.5 million, on which 8% cumulative dividends are earned. Otherwise, HydraFacial has not declared or paid any dividends, or authorized or made any distributions upon or with respect to its Class A Preferred Stock.	Note 17 – Stockholders’ Equity (Deficit) Common Stock In October 2016, HydraFacial implemented a single class common stock structure by authorizing 60,000 shares of common stock in connection with the formation of HydraFacial. As of December 31, 2020, there were 54,358 Common Stock shares issued and outstanding. The Common Stock is entitled to one vote per share and all shares are outstanding for each of the years ended December 31, 2020 and 2019, respectively. HydraFacial has not declared or paid any dividends with respect to its Common Stock. Preferred Stock Effective October 2016, the Board of Directors authorized the issuance of preferred stock, with a par value of $0.01 per share. As of December 31, 2020, there were 1,500 shares of preferred stock authorized and 931 shares of preferred stock outstanding designated as non-voting Class A Preferred Stock. The Class A Preferred Stock shares are entitled to receive 8% per annum dividends based on the per share liquidation value of the preferred stock calculated daily and compounded quarterly. HydraFacial’s governing documents do not provide for redemption of, conversion of, or participation in dividends paid on Class A common stock by the Class A Preferred Stock. However, the cumulative dividends must be paid on the preferred stock prior to paying dividends on the common stock. The Class A Preferred Stock is not callable and is not subject to any sinking fund or other mandatory redemption. On August 24, 2018, HydraFacial paid $13.7 million related to the 8% cumulative dividends earned through the date of payment, and modified the terms of the Class A Preferred Stock to pay a distribution of $85.0 million on the $100,000 per share liquidation value, for a total distribution of $98.7 million. As a result of the distribution, the aggregate liquidation preference was reduced to $8.5 million, on which 8% cumulative dividends are earned. Otherwise, HydraFacial has not declared or paid any dividends, or authorized or made any distributions upon or with respect to its Class A Preferred Stock.

WARRANT LIABILITY

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Text Block [Abstract]

WARRANT LIABILITY

NOTE 8. WARRANT LIABILITY

Warrants—Public Warrants may only be exercised for a whole number of shares. No fractional shares will be issued upon exercise of the Public Warrants. The Public Warrants will become exercisable on the later of (a) 30 days after the completion of a Business Combination or (b) one year from the closing of the Initial Public Offering. The Public Warrants will expire five years after the completion of a Business Combination or earlier upon redemption or liquidation.

The Company will not be obligated to deliver any Class A common stock pursuant to the exercise of a warrant and will have no obligation to settle such warrant exercise unless a registration statement under the Securities Act with respect to the Class A common stock underlying the warrants is then effective and a prospectus relating thereto is current, subject to the Company satisfying its obligations with respect to registration, or a valid exemption from registration is available. No warrant will be exercisable and the Company will not be obligated to issue a share of Class A common stock upon exercise of a warrant unless the share of Class A common stock issuable upon such warrant exercise has been registered, qualified or deemed to be exempt under the securities laws of the state of residence of the registered holder of the warrants.

The Company has agreed that as soon as practicable, but in no event later than twenty business days after the closing of a Business Combination, the Company will use its commercially reasonable efforts to file with the SEC a registration statement for the registration, under the Securities Act, of the Class A common stock issuable upon exercise of the warrants. The Company will use its commercially reasonable efforts to cause the same to become effective and to maintain the effectiveness of such registration statement, and a current prospectus relating thereto, until the expiration or redemption of the warrants in accordance with the provisions of the warrant agreement. If a registration statement covering the issuance of the Class A common stock issuable upon exercise of the warrants is not effective by the 60th business day after the closing of a Business Combination, warrant holders may, until such time as there is an effective registration statement and during any period when the Company will have failed to maintain an effective registration statement, exercise warrants on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act or another exemption. In addition, if the Class A common stock is at the time of any exercise of a warrant not listed on a national securities exchange such that they satisfy the definition of a “covered security” under Section 18(b)(1) of the Securities Act, the Company may, at its option, require holders of Public Warrants who exercise their warrants to do so on a “cashless basis” in accordance with Section 3(a)(9) of the Securities Act and, in the event the Company elects to do so, it will not be required to file or maintain in effect a registration statement, but it will use its best efforts to register or qualify the shares under applicable blue sky laws to the extent an exemption is not available.

Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00. Once the Public Warrants become exercisable, the Company may redeem the Public Warrants (except with respect to the Private Placement Warrants):

•

in whole and not in part;

•

at a price of $0.01 per warrant;

•

upon not less than 30 days’ prior written notice of redemption to each warrant holder; and

•

if, and only if, the reported last reported sale price of the Class A common stock for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders (the “Reference Value”) equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like).

If and when the warrants become redeemable by the Company, the Company may exercise its redemption right even if the Company are unable to register or qualify the underlying securities for sale under all applicable state securities laws. However, in this case, the Company will not redeem the warrants unless an effective registration statement under the Securities Act covering the Class A common stock issuable upon exercise of the warrants is effective and a current prospectus relating to those shares of our Class A common stock is available throughout the 30-day redemption period.

Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00. Once the Public Warrants become exercisable, the Company may redeem the Public Warrants:

•

in whole and not in part;

•

at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares based on the redemption date and the fair market value of the Class A common stock;

•

if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like); and

•

if the Reference Value is less than $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above.

If the Company calls the Public Warrants for redemption, management will have the option to require all holders that wish to exercise the Public Warrants to do so on a “cashless basis,” as described in the warrant agreement. The exercise price and number of shares of Class A common stock issuable upon exercise of the warrants may be adjusted in certain circumstances including in the event of a stock dividend, or recapitalization, reorganization, merger or consolidation. However, except as described below, the warrants will not be adjusted for issuance of Class A common stock at a price below its exercise price. Additionally, in no event will the Company be required to net cash settle the warrants. If the Company is unable to complete a Business Combination within the Combination Period and the Company liquidates the funds held in the Trust Account, holders of warrants will not receive any of such funds with respect to their warrants, nor will they receive any distribution from the Company’s assets held outside of the Trust Account with the respect to such warrants. Accordingly, the warrants may expire worthless.

In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per Class A common (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s Class A common stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates a Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $10.00 and $18.00 per share redemption trigger prices will be adjusted (to the nearest cent) to be equal to 100% and 180% of the higher of the Market Value and the Newly Issued Price, respectively.

The Private Placement Warrants are identical to the Public Warrants underlying the Units sold in the Initial Public Offering, except that the Private Placement Warrants and the Class A common stock issuable upon the exercise of the Private Placement Warrants will not be transferable, assignable or salable until 30 days after the completion of a Business Combination, subject to certain limited exceptions. Additionally, the Private Placement Warrants will be exercisable on a cashless basis and be non-redeemable so long as they are held by the initial purchasers or their permitted transferees. If the Private Placement Warrants are held by someone other than the initial purchasers or their permitted transferees, the Private Placement Warrants will be redeemable by the Company and exercisable by such holders on the same basis as the Public Warrants.

NOTE 9. WARRANT LIABILITY

Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00. Once the Public Warrants become exercisable, the Company may redeem the Public Warrants (except with respect to the Private Placement Warrants):

•

in whole and not in part;

•

at a price of $0.01 per warrant;

•

upon not less than 30 days’ prior written notice of redemption to each warrant holder; and

•

Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00. Once the Public Warrants become exercisable, the Company may redeem the Public Warrants:

•

in whole and not in part;

•

if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like); and

•

See Note 11 for additional discussion regarding the applicable accounting treatment and valuation of the Public Warrants and Private Placement Warrants.

INCOME TAX

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

INCOME TAX

NOTE 10. INCOME TAX

The Company’s net deferred tax assets are as follows:


	December 31, 2020
Deferred tax assets
Net operating loss carryforward	$	21,990
Startup/ Organizational Expenses		43,197
Unrealized gain on marketable securities		(20,625	)

Total deferred tax assets		44,562
Valuation Allowance		(44,562	)

Deferred tax assets, net of allowance	$	—

The provision for income taxes consists of the following:


	December 31, 2020
Federal
Current	$	—
Deferred		(44,562	)
State and Local
Current		—
Deferred		—

Change in valuation allowance		44,562

Income tax provision	$	—

As of December 31, 2020, the Company had $104,712 of U.S. federal net operating loss carryovers available to offset future taxable income.

In assessing the realization of the deferred tax assets, management considers whether it is more likely than not that some portion of all of the deferred tax assets will not be realized. The ultimate realization of deferred tax assets is dependent upon the generation of future taxable income during the periods in which temporary differences representing net future deductible amounts become deductible. Management considers the scheduled reversal of deferred tax liabilities, projected future taxable income and tax planning strategies in making this assessment. After consideration of all of the information available, management believes that significant uncertainty exists with respect to future realization of the deferred tax assets and has therefore established a full valuation allowance. For the period from July 8, 2020 (inception) through December 31, 2020, the change in the valuation allowance was $44,562.

A reconciliation of the federal income tax rate to the Company’s effective tax rate is as follows:


	December 31, 2020
Statutory federal income tax rate		21.0	%
State taxes, net of federal tax benefit		0.0	%
Business combination		(0.5	)%
Change in fair value of warrant liability		(19.8	)%
Offering costs allocated to warrant liability		(0.6	)%
Valuation allowance		(0.1	)%

Income tax provision		0.0	%

The Company files income tax returns in the U.S. federal jurisdiction and is subject to examination by the various taxing authorities. The Company’s tax returns for the year ended December 31, 2020 remain open and subject to examination. The Company considers Florida to be a significant state tax jurisdiction.

LCP Edge Intermediate, Inc. [Member]

INCOME TAX

Note 8 – Income Taxes

The income tax benefit for the three months ended March 31, 2021 and 2020 is $0.3 million and $2.6 million, respectively. The effective tax rate for the three months ended March 31, 2021 is 8.55%, which is lower than the federal statutory rate of 21.0% primarily due to the increase in valuation allowance and non-deductible expenses. The effective tax rate for the three months ended March 31, 2020 is 22.38%, which is greater than the federal statutory rate of 21.0% primarily due to the benefit for state taxes, partially offset by an increase in valuation allowance.

Additionally, the Company follows an accounting standard addressing the accounting for uncertainty in income taxes that prescribes rules for recognition, measurement and classification in the financial statements of tax positions taken or expected to be taken in a tax return. The Company has gross unrecognized tax benefits of $0.1 million for the three months ended March 31, 2021. The Company did not have any gross unrecognized tax benefits for the three months ended March 31, 2020.

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”) was signed into law. The CARES Act provides numerous tax provisions and other stimulus measures, including temporary changes regarding the prior and future utilization of net operating losses, temporary changes to the prior and future limitations on interest deductions, temporary suspension of certain payment requirements for the employer portion of Social Security taxes, the creation of certain refundable employee retention credits, and technical corrections from prior tax legislation for tax depreciation of certain qualified improvement property (“QIP”).

HydraFacial believes it will be able to obtain federal tax refunds by carrying back its net operating loss for the year ended December 31, 2020. HydraFacial estimates the net operating loss carryback will result in a federal refund of approximately $4.5 million.

On December 27, 2020, the United States enacted the Consolidated Appropriations Act which extended many of the benefits of the CARES Act that were scheduled to expire. The Company does not expect a material impact of Consolidated Appropriations Act on its Condensed Consolidated Financial Statements and related disclosures.

On March 11, 2021 the United States enacted the American Rescue Plan Act of 2021 (“American Rescue Plan”). The American Rescue Plan includes various income and payroll tax measures. The Company does not expect a material impact of the American Rescue Plan on its Condensed Consolidated Financial Statements and related disclosures.

In June 29, 2020, the State of California passed Assembly Bill 85 which suspends the California net operating loss deduction for the 2020-2022 tax years and the R&D credit usage for the same period (for credit usages in excess of $5.0 million). These suspensions were considered in preparation of the year ended December 31, 2020 and three months ended March 31, 2021 Condensed Consolidated Financial Statements.

Note 9 – Income Taxes

On December 22, 2017, the U.S. enacted the Tax Cuts and Jobs Act (the “Act”), which significantly changed U.S. tax law. The Act lowered HydraFacial’s U.S. statutory federal income tax rate from 35% to 21% effective January 1, 2018, while also imposing a deemed repatriation tax on previously deferred foreign income. The Act also created a new minimum tax on certain foreign earnings and limitation of the tax deduction for interest expense.

The following table presents domestic and foreign components of net income (loss) before income taxes is as follows for each of the three years in the period ended December 31, 2020.


(in thousands)	2020			2019			2018
Domestic	$	(40,135	)	$	(5,615	)	$	784
Foreign		1,652			2,680			(774	)

Total net income (loss) before taxes	$	(38,483	)	$	(2,935	)	$	10

The federal, state and foreign component of the income tax expense (benefit) are summarized as follows for each of the three years in the period ended December 31, 2020:


(in thousands)	2020			2019			2018
Current:
Federal	$	(5,760	)	$	2,294		$	2,404
State		79			305			938
Foreign		579			755			—

Total current tax expense (benefit)		(5,102	)		3,354			3,342
Deferred:
Federal		(2,690	)		(3,118	)		(2,425	)
State		(1,499	)		(1,387	)		(502	)
Foreign		(17	)		(146	)		(88	)

Total deferred tax benefit		(4,206	)		(4,651	)		(3,015	)

Total tax (benefit) expense	$	(9,308	)	$	(1,297	)	$	327

The effective tax rate of the provision for income tax differs from the federal statutory rate as follows for each of the three years in the period ended December 31, 2020:


	2020					2019					2018
Federal statutory income tax rate		(8,081	)	21.0	%		(616	)	21.0	%		2		21.0	%
State taxes, net of federal benefit		(1,155	)	3.0			(337	)	11.5			56		560.0
Incentive Stock Compensation		76		(0.2	)		45		(1.5	)		13		130.0
Meals and Entertainment		79		(0.2	)		135		(4.6	)		51		510.0
GILTI		—		—			708		(24.1	)		—		—
Section 250 Deduction		—		—			(486	)	16.6			—		—
Foreign Tax Credit		—		—			(62	)	2.1			—		—
Foreign Rate Differential		(6	)	—			88		(3.0	)		36		360.0
R&D Credit		(79	)	0.2			—		—			—		—
State Rate Change, net of federal effect		(465	)	1.2			(429	)	14.6			227		2,270.0
Tax Cuts and Jobs Act Benefit		—		—			—		—			(251	)	(2,510.0	)
Change in valuation allowance		409		(1.1	)		—		—			—		—
Other		(86	)	0.2			(343	)	11.7			192		1,920

Provision for taxes		(9,308	)	24.1	%		(1,297	)	44.2	%		327		3,261	%

Deferred income taxes reflect the net tax effects of temporary differences between the carrying amounts of assets and liabilities for financial reporting purposes and the amounts used for income tax purposes. A valuation allowance is established when necessary to reduce deferred tax assets to the amounts more likely than not to be realized. The components of the deferred tax assets are as follows for the years ended December 31, 2020 and 2019:


(in thousands):	2020			2019
Deferred tax assets
State taxes	$	19		$	93
Accrued expenses		1,318			283
Inventories		2,421			2,168
Unfavorable Leasehold Interest		—			107
Accounts receivable		499			184
Section 163(j) Limitation		2,426			2,346
Net Operating Loss Carryforwards		423			107
Other		54

Total deferred tax assets		7,160			5,288
Deferred tax liabilities
Goodwill and intangibles		(7,761	)		(11,323	)
Prepaid expenses		(166	)		(303	)
Property and equipment		(2,541	)		(1,720	)

Total deferred tax liabilities		(10,468	)		(13,346	)
Valuation allowance		(409	)		—

Net deferred tax liability	$	(3,717	)	$	(8,058	)

Our net deferred tax liability as presented in our consolidated balance sheet consist of the following items (in thousands):


(in thousands):	2020			2019
Deferred tax assets	$	270		$	232
Deferred tax liabilities		(3,987	)		(8,290	)

Net deferred tax liability	$	(3,717	)	$	(8,058	)

The Company has established a valuation allowance against a portion of its remaining deferred tax assets because it is more likely than not that certain deferred tax assets will not be realized. In determining whether deferred tax assets are realizable, the Company considered numerous factors including historical profitability, the amount of future taxable income and the existence of taxable temporary differences that can be used to realize deferred tax assets. The valuation allowance increased approximately $0.4 million in 2020 from 2019 primarily due to recognizing valuation allowances against deferred tax assets of certain state and foreign net operating loss carryforwards, state interest carryforwards, and deferred tax assets for credits.

At December 31, 2020, the Company had gross state and foreign net operating loss carryforwards of approximately $7.0 million and $0.4 million, respectively. The state losses expire beginning in 2025 and the foreign losses will carry forward indefinitely. The Company incurred a federal net operating loss in 2020 of $18.8 million, which will be carried back to prior tax years to claim refunds for federal taxes paid pursuant to the CARES Act (see below).

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) was enacted in response to the COVID-19 pandemic. The CARES Act, among other things, permits net operating loss (“NOL”) carryovers and carrybacks to offset 100% of taxable income for taxable years beginning before 2021. In addition, the CARES Act allows NOLs incurred in 2018, 2019, and 2020 to be carried back to each of the five preceding taxable years to generate a refund of previously paid income taxes. The Company has evaluated the impact of the CARES Act, and intends to carryback its 2020 federal loss to recover federal taxes paid in prior years under the NOL carryback provision of the CARES Act, which would result in a refund of approximately $4.1 million of federal income taxes.

The CARES Act also contains modifications on the limitation of business interest for tax years beginning in 2019 and 2020. The modifications to Section 163(j) increase the allowable business interest deduction from 30% of adjusted taxable income to 50% of adjusted taxable income. This modification would increase the allowable interest expense deduction of the Company and result in less taxable income for the year-ended 2019, resulting in less utilization of net operating losses in that year. The change in the interest expense limitation pursuant to the CARES Act will have an impact to the 2019 and 2020 interest limitation. As a result of the CARES Act, it is anticipated that the Company will benefit by increasing its 2019 interest expense utilization and also electing to use certain provisions to increase its 2020 interest limitations.

As of December 31, 2020 and December 31, 2019, the Company had recorded gross unrecognized tax benefits of approximately $0.3 million and none, respectively. All of the unrecognized tax benefits as of December 31, 2020, if recognized, would not materially impact the effective tax rate. The Company recognizes interest expense and penalties associated with uncertain tax positions as a component of income tax expense. The Company has not recognized any interest or penalties because of losses.

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows for the year ended December 31, 2020:


(in thousands)	2020
Unrecognized tax benefits at beginning of period	$	—
Increases for tax positions in prior periods		235
Decreases for tax positions in prior periods		—
Increases for tax positions in current period		35
Settlements/statute expirations		—

Unrecognized tax benefits at end of period	$	270

As of December 31, 2020, there were no unrecognized tax benefits that we expect would change significantly over the next 12 months.

The Company is subject to taxation and files income tax returns in the United States federal jurisdiction, many state and foreign jurisdictions. The Company is not currently under examination by income tax authorities in federal, state or other jurisdictions. The Company’s tax returns remain open for examination in the U.S for years 2018 through 2020. Our foreign subsidiaries are generally subject to examination three years following the year in which the tax obligation originated. The years subject to audit may be extended if the entity substantially understates corporate income tax.

APB 23 (codified as FASB ASC 740-10-25-3) allows an exception to the general rule that a U.S. multinational company must accrue U.S. taxes on foreign earnings of its controlled non-U.S. subsidiaries. The Company will continue to indefinitely reinvest earnings from its foreign subsidiaries, which are not significant.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References + Details

FAIR VALUE MEASUREMENTS

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

NOTE 9. FAIR VALUE MEASUREMENTS

The Company follows the guidance in ASC Topic 820 for its financial assets and liabilities that are re-measured and reported at fair value at each reporting period, and non-financial assets and liabilities that are re-measured and reported at fair value at least annually.

The fair value of the Company’s financial assets and liabilities reflects management’s estimate of amounts that the Company would have received in connection with the sale of the assets or paid in connection with the transfer of the liabilities in an orderly transaction between market participants at the measurement date. In connection with measuring the fair value of its assets and liabilities, the Company seeks to maximize the use of observable inputs (market data obtained from independent sources) and to minimize the use of unobservable inputs (internal assumptions about how market participants would price assets and liabilities). The following fair value hierarchy is used to classify assets and liabilities based on the observable inputs and unobservable inputs used in order to value the assets and liabilities:

Level 1:

Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2:

Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.

Level 3:

Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability.

The following table presents information about the Company’s assets and liabilities that are measured at fair value on a recurring basis at March 31, 2021 and December 31, 2020, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:


Description	Level		March 31, 2021		December 31, 2020
Assets:
Marketable securities held in Trust Account		1		460,184,400		460,098,212
Liabilities:
Warrant Liability – Public Warrants		1		31,893,332		40,633,332
Warrant Liability – Private Placement Warrants		3		19,599,999		25,013,332

The Warrants were accounted for as liabilities in accordance with ASC 815-40 and are presented within warrant liabilities on our consolidated balance sheet. The warrant liabilities are measured at fair value at inception and on a recurring basis, with changes in fair value presented within change in fair value of warrant liabilities in the consolidated statement of operations.

The Company established the initial fair value for the Warrants on October 2, 2020, the date of the Company’s Initial Public Offering, using a Monte Carlo simulation model for the warrants. The Company allocated the proceeds received from (i) the sale of Units (which is inclusive of one share of Class A common shares and one-third of one Public Warrant), (ii) the sale of Private Placement Warrants, and (iii) the issuance of Class B common shares, first to the Warrants based on their fair values as determined at initial measurement, with the remaining proceeds allocated to Class A common shares subject to possible redemption, Class A common shares and Class B common shares based on their relative fair values at the initial measurement date. The Warrants were classified as Level 3 at the initial measurement date due to the use of unobservable inputs.

Subsequently, the Warrants are measured at fair value on a recurring basis. The subsequent measurement of the Public Warrants as of December 31, 2020 is classified as Level 1 due to the use of an observable market quote in an active market.

The key inputs into the Monte Carlo simulation model for the Private Placement Warrants at March 31, 2021 were as follows:


Input	March 31, 2021
Risk-free interest rate		0.92	%
Expected term (years)		5.08
Expected volatility		14.9	%
Exercise price	$	11.50
Fair value of Units	$	10.03

The following table presents the changes in the fair value of warrant liabilities:


	Private Placement			Level		Public			Level		Warrant Liabilities
Fair value as of December 31, 2020	$	25,013,332				$	40,633,332				$	65,646,664
Change in valuation inputs or other assumptions		(5,413,333	)		3		(8,740,000	)		1		(14,153,333	)

Fair value as of March 31, 2021	$	19,599,999				$	31,893,332				$	51,493,331

Level 3 financial liabilities consist of the Private Placement Warrant liability for which there is no current market for these securities such that the determination of fair value requires significant judgment or estimation. Changes in fair value measurements categorized within Level 3 of the fair value hierarchy are analyzed each period based on changes in estimates or assumptions and recorded as appropriate.

NOTE 11. FAIR VALUE MEASUREMENTS


Level 1:		Quoted prices in active markets for identical assets or liabilities. An active market for an asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis.

Level 2:		Observable inputs other than Level 1 inputs. Examples of Level 2 inputs include quoted prices in active markets for similar assets or liabilities and quoted prices for identical assets or liabilities in markets that are not active.

Level 3:		Unobservable inputs based on our assessment of the assumptions that market participants would use in pricing the asset or liability.

The following table presents information about the Company’s assets that are measured at fair value on a recurring basis at December 31, 2020, and indicates the fair value hierarchy of the valuation inputs the Company utilized to determine such fair value:


Description	Level		December 31, 2020
Assets:
Marketable securities held in Trust Account		1		460,098,212
Liabilities:
Warrant Liability – Public Warrants		1		40,633,332
Warrant Liability – Private Placement Warrants		3		25,013,332

Initial Measurement

The key inputs into the Monte Carlo simulation model for the Private Placement Warrants and Public Warrants were as follows at initial measurement:


Input	October 2, 2020 (Initial Measurement)
Risk-free interest rate		0.34	%
Expected term (years)		5.57
Expected volatility		17.4	%
Exercise price	$	11.50
Fair value of Units	$	10.00

On October 2, 2020, the Private Placement Warrants and Public Warrants were determined to be $1.17 per warrant for aggregate values of $10.9 million and $17.9 million, respectively.

Subsequent Measurement

The Warrants are measured at fair value on a recurring basis. The subsequent measurement of the Public Warrants as of December 31, 2020 is classified as Level 1 due to the use of an observable market quote in an active market.

As of December 31, 2020, the aggregate values of the Private Placement Warrants and Public Warrants were $25.0 million and $40.6 million, respectively.

The following table presents the changes in the fair value of warrant liabilities:


	Private Placement		Level		Public		Level		Warrant Liabilities
Fair value as of July 8, 2020	$	—			$	—			$	—
Initial measurement on October 2, 2020		10,920,000		3		17,940,000		3		28,860,000
Change in valuation inputs or other assumptions		14,093,332		3		22,693,332		1		36,786,664

Fair value as of December 31, 2020	$	25,013,332			$	40,633,332			$	65,646,664

Due to the use of quoted prices in an active market (Level 1) to measure the fair value of the Public Warrants, subsequent to initial measurement, the Company had transfers out of Level 3 totaling $17,940,000 during the period from October 2, 2020 through December 31, 2020.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Subsequent Events	3 Months Ended	12 Months Ended
Subsequent Events	Mar. 31, 2021	Dec. 31, 2020
SUBSEQUENT EVENTS	NOTE 11. SUBSEQUENT EVENTS The Company evaluates subsequent events and transactions that occur after the balance sheet date up to the date that the consolidated financial statements were issued. Based upon this review, other than as described below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the consolidated financial statements. On April 19, 2021, Elstein v. Saunders et al., No. 21-3028CA01 (Fla. 11th Cir. Ct.) was voluntarily dismissed. On April 26, 2021, Purvance v. Vesper Healthcare Acquisition Corp., et al., Index No. 650365/2021 (N.Y. Sup. Ct.) was voluntarily discontinued. On May 12, 2021, Watkins v. Vesper Healthcare Acquisition Corp., et al., No. 1:21-cv-00713 (S.D.N.Y.) was voluntarily dismissed. On May 17, 2021, Ciccotelli v. Vesper Healthcare Acquisition Corp., et al., Index No. 650346/2021 (N.Y. Sup. Ct.) was voluntarily discontinued. On May 4, 2021, the Company completed the Business Combination and PIPE Investment as described in Note 1. On June 8, 2021 and July 1, 2021, the Company completed acquisitions of four international third-party distributors for HydraFacial. The total purchase price for the four distributors is approximately $28 million in cash and 590,099 shares of the Company’s Class A Common Stock. As a result of the closing of the acquisitions, the Company will also be required to issue up to 7.5 million shares of Class A Common Stock to the former owners of HydraFacial pursuant to the earnout provision in the Merger Agreement related to the Company’s Business Combination, which closed on May 4, 2021.	NOTE 12. SUBSEQUENT EVENTS The Company evaluates subsequent events and transactions that occur after the balance sheet date up to the date that the consolidated financial statements were issued. Based upon this review, other than as described in Note 2 and below, the Company did not identify any subsequent events that would have required adjustment or disclosure in the consolidated financial statements. A lawsuit was filed in the Supreme Court of the State of New York on January 18, 2021, and amended on March 24, 2021, by a purported Company stockholder in connection with the Business Combination: Ciccotelli v. Vesper Healthcare Acquisition Corp., et al., Index No. 650346/2021 (N.Y. Sup. Ct.). On January 18, 2021, a lawsuit was filed in the Supreme Court of the State of New York by a purported Company stockholder in connection with the Business Combination: Purvance v. Vesper Healthcare Acquisition Corp., et al., Index No. 650346/2021 (N.Y. Sup. Ct.). An additional lawsuit was filed by a different purported Company stockholder on January 19, 2021, and amended on March 22, 2021, in the Supreme Court of the State of New York in connection with the Business Combination: Purvance v. Vesper Healthcare Acquisition Corp., et al., Index No. 650365/2021 (N.Y. Sup. Ct.). On January 26, 2021, a lawsuit was filed in the United States District Court, Southern District of New York by a different purported Company stockholder in connection with the Business Combination: Watkins v. Vesper Healthcare Acquisition Corp., et al., No. 1:21-cv-00713 (S.D.N.Y.). On February 8, 2021, a lawsuit was filed in the Eleventh Judicial Circuit, in and for Miami-Dade County, Florida, by a different purported Company stockholder in connection with the Business Combination: Elstein v. Saunders et al., No. 21-3028CA01 (Fla. 11th Cir. Ct.). The complaints name the Company and some or all of the current members of the Board as defendants. The complaints allege, among other things, breach of fiduciary duty claims against the Board in connection with the Business Combination. The complaints also allege that the Preliminary Proxy Statement is misleading and/or omits material information concerning the Business Combination. The complaints generally seek, among other things, injunctive relief, damages, and an award of attorneys’ fees. On March 2, 2021, counsel for Jordan Rosenblatt, a purported The Beauty Health Company shareholder, sent a demand letter alleging that The Beauty Health Company and its board had breached their fiduciary duties and violated federal securities laws in connection with the Preliminary Proxy Statement. Also on March 2, 2021, counsel for Patrick Plumley, a purported The Beauty Health Company shareholder, sent a demand letter alleging that The Beauty Health Company and its board had breached their fiduciary duties and/or violated federal securities laws in connection with the Preliminary Proxy Statement. Both letters sought additional disclosures. The Company believes these allegations are without merit and intends to defend against them; however, the Company cannot predict with certainty the ultimate resolution of any proceedings that may be brought in connection with these allegations. On April 19, 2021, Elstein v. Saunders et al., No. 21-3028CA01 (Fla. 11th Cir. Ct.) was voluntarily dismissed. On April 26, 2021, Purvance v. Vesper Healthcare Acquisition Corp., et al., Index No. 650365/2021 (N.Y. Sup. Ct.) was voluntarily discontinued. On May 12, 2021, Watkins v. Vesper Healthcare Acquisition Corp., et al., No. 1:21-cv-00713 (S.D.N.Y.) was voluntarily dismissed. On May 17, 2021, Ciccotelli v. Vesper Healthcare Acquisition Corp., et al., Index No. 650346/2021 (N.Y. Sup. Ct.) was voluntarily discontinued. On May 4, 2021, the registrant consummated the previously announced business combination pursuant to that certain Agreement and Plan of Merger, dated December 8, 2020, by and among Vesper Healthcare Acquisition Corp., Hydrate Merger Sub I, Inc. (“Merger Sub I”), Hydrate Merger Sub II, LLC (“Merger Sub II”), LCP Edge Intermediate, Inc., the indirect parent of Edge Systems LLC d/b/a The HydraFacial Company (“HydraFacial”), and LCP Edge Holdco, LLC (the “Merger Agreement”), which provided for: (a) the merger of Merger Sub I with and into HydraFacial, with HydraFacial continuing as the surviving corporation (the “First Merger”), and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of HydraFacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”). As a result of the First Merger, the registrant owns 100% of the outstanding common stock of HydraFacial and each share of common stock and preferred stock of HydraFacial has been cancelled and converted into the right to receive a portion of the consideration payable in connection with the Mergers. As a result of the Second Merger, the registrant owns 100% of the outstanding interests in Merger Sub II. In connection with the closing of the Business Combination (the “Closing”), the registrant owns, directly or indirectly, 100% of the stock of HydraFacial and its subsidiaries and the stockholders of HydraFacial as of immediately prior to the effective time of the First Merger hold a portion of the Class A Common Stock, par value $0.0001 per share, of the registrant. In connection with the Closing, the registrant changed its name from “Vesper Healthcare Acquisition Corp.” to “The Beauty Health Company.”
LCP Edge Intermediate, Inc. [Member]
SUBSEQUENT EVENTS	Note 17 – Subsequent Events HydraFacial has evaluated subsequent events through July 9, 2021, which is the date the condensed consolidated financial statements were available to be issued. Acquisitions HydraFacial has entered into definitive agreements to acquire four distributors across Latin America, Europe and Asia to sell and distribute the HydraFacial line of products within their respective regions. One distributor acquisition has closed on June 4, 2021 with cash consideration of $5.7 million prior to working capital adjustments plus equity consideration consisting of 110,726 shares of Class A Common Stock of BeautyHealth. The remaining three acquisitions closed on July 1, 2021. Cash consideration expected to be paid in the aggregate, prior to any working capital adjustments, to acquire the three remaining distributors is $23.4 million plus equity consideration consisting of 479,373 shares of Class A Common Stock of BeautyHealth. The equity consideration for all four acquisitions will be issued by August 1, 2021. Merger On May 4, 2021, HydraFacial consummated the Merger Agreement with Vesper, pursuant to which Vesper acquired, directly or indirectly, 100% of the stock of HydraFacial and its subsidiaries. Upon closing, the surviving entity was renamed The Beauty Health Company and trades on the Nasdaq Capital Market under the ticker symbol “SKIN.” The transactions set forth in the Merger Agreement constitute a “Business Combination” as contemplated by Vesper’s Amended & Restated Certificate of Incorporation. Immediately after the completion of the Business Combination, the shareholders of HydraFacial exchanged their interests in HydraFacial for shares of common stock of the surviving entity. Pursuant to the terms of the Merger Agreement, the aggregate merger consideration paid to the HydraFacial stockholders in connection with the Business Combination was approximately $975.0 million less HydraFacial’s net indebtedness as of the Closing Date, transaction expenses, and net working capital relative to a target. In connection with the transaction, all of HydraFacial’s existing debt under its credit facilities were repaid and the note receivable from its stockholder was settled. The merger consideration included both cash consideration and consideration in the form of newly issued Class A Common Stock. The aggregate cash consideration paid to the former HydraFacial stockholders at the Closing was approximately $368.0 million, consisting of the Vesper’s cash and cash equivalents as of the closing of the Business Combination including proceeds of $350.0 million from Vesper’s Private Placement of an aggregate of 35,000,000 shares of Class A Common Stock, and approximately $433.0 million of cash available to Vesper from the trust account that held the proceeds from Vesper’s initial public offering (the “Trust Account”) after giving effect to income and franchise taxes payable in respect of interest income earned in the Trust Account and redemptions that were elected by Vesper’s public stockholders, minus approximately $224.0 million used to repay HydraFacial’s outstanding indebtedness at the Closing, minus approximately $94.0 million of transaction expenses of HydraFacial and Vesper, minus $100.0 million. The remainder of the consideration paid to the HydraFacial stockholders consisted of 35,501,743 newly issued shares of Class A Common Stock. The foregoing consideration paid to the HydraFacial stockholders will be further increased by the payment of 7.5 million earn-out shares of Class A Common Stock pursuant to the terms of the Merger Agreement and as a result of the consummation of the distributor acquisitions referenced above.	Note 20 – Subsequent Events HydraFacial has evaluated subsequent events through March 24, 2021, which is the date the consolidated financial statements were available to be issued. Acquisitions HydraFacial has signed a letter of intent to acquire four distributors across Latin America, Europe and Asia to sell and distribute the HydraFacial line of products within their respective regions. The transactions are expected to be completed during 2021. Total consideration expected to be paid to acquire these distributors, based on exchange rates as of December 31, 2020, is $36.6 million in the aggregate.

PRIOR PERIODS' FINANCIAL STATEMENT REVISION

3 Months Ended

Mar. 31, 2021

Accounting Changes and Error Corrections [Abstract]

PRIOR PERIODS' FINANCIAL STATEMENT REVISION

NOTE 10. PRIOR PERIODS’ FINANCIAL STATEMENT REVISION

The Company noted an error in its application of guidance associated with “ASC 480: Distinguishing Liabilities from Equity,” which needed to be modified to appropriately present the impact on the accounting treatment of the temporary equity as a result of the private investment in public equity transaction that is subject of the Subscription Agreements entered into by the Company with certain investors on December 8, 2021 (the “PIPE Investment”) in connection with the Company’s business combination with LCP Edge Intermediate, Inc., a Delaware corporation and indirect parent of Edge Systems LLC d/b/a The HydraFacial Company, and LCP Edge Holdco, LLC, as previously disclosed in the Company’s Form 10-K/A filed on May 27, 2021. This modification to the accounting treatment of equity required the Company’s common stock to be reclassified from permanent equity to temporary equity in the form of common stock subject to possible redemption. The Audit Committee, in consultation with the Company’s management, concluded that all Class A ordinary shares that were sold to the public in our IPO are to be classified as temporary equity, thereby correcting an error of classification within the Condensed Balance Sheet. In the financial statements filed in the Company’s Form 10-K/A, the Company incorrectly classified 8,351,205 Class A ordinary shares as permanent equity as of December 31, 2020, whereas no Class A ordinary shares should have been so classified. The 8,351,205 Class A ordinary shares that were originally incorrectly classified as permanent equity have been reclassified as temporary equity in our Form 10-Q, thereby yielding a total of 46,000,000 Class A ordinary shares (the shares sold to the public in our IPO, which are subject to redemption) as temporary equity.

The following tables present the effect of the correction of the misstatement that impacted the year ended December 31, 2020, as described in Note 1, and the related adjustments to reflect the revision on the Condensed Balance Sheet.


	As Previously Reported			Adjustments			As Revised
Balance sheet as of December 31, 2020 (audited)
Commitments
Number of Class A common shares at redemption value		37,648,795			8,351,205			46,000,000
Class A common stock subject to possible redemption	$	376,489,130		$	83,512,311		$	460,001,441
Stockholders’ Equity
Number of Class A common shares issued and outstanding		8,351,205			(8,351,205	)		—
Class A common shares	$	835		$	(835	)	$	—
Additional paid-in capital		43,911,821			(40,807,971	)		3,103,850
Accumulated deficit		(38,913,797	)		(42,703,505	)		(81,617,302	)
Total stockholders’ equity		5,000,009			(83,512,311	)		(78,512,302	)

Statement of operations for the period from July 8, 2020 (inception) through December 31, 2020 (as Restated)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption		41,438,497			1,165,717			42,604,214
Weighted average shares outstanding, basic and diluted		13,388,418			(651,643	)		12,736,775
Basic and diluted net loss per common share	$	(2.91	)	$	(0.15	)	$	(3.06	)

Statement of changes in stockholders’ equity for the period from July 8, 2020 (inception) through December 31, 2020
Class A common stock:
Shares of Class A common stock subject to possible redemption		(37,648,795	)		(8,351,205	)		(46,000,000	)
Class A common stock subject to possible redemption	$	(3,765	)	$	(835	)	$	(4,600	)
Additional Paid-in Capital:
Class A common stock subject to possible redemption		(376,485,365	)		(40,807,971	)		(417,293,336	)
Accumulated Deficit:
Net loss		(38,913,797	)		(42,703,505	)		(81,617,302	)
Total Stockholders’ Equity:
Class A common stock subject to possible redemption		(376,489,130	)		(40,808,806	)		(417,297,936	)
Net loss		(38,913,797	)		(42,703,505	)		(81,617,302	)

Nature of Business	12 Months Ended
Nature of Business	Dec. 31, 2020
LCP Edge Intermediate, Inc. [Member]
Nature of Business	Note 1 – Nature of Business LCP Edge Intermediate, Inc. (“The HydraFacial Company” or “HydraFacial” or the “Company”) and its subsidiaries design, develop, manufacture, market, and sell aesthetic technologies and products. HydraFacial is a wholly owned subsidiary of LCP Edge Holdco, LLC (“LCP Holdco” or “Parent”). HydraFacial offers hydradermabrasion systems that enhance the skin to cleanse, exfoliate, extract, and hydrate simultaneously; HydraFacial^® Daily Essentials, which provides detoxification, rejuvenation, and protection of skin; crystal microdermabrasion systems; and light emitting diode systems. The premiere system is the HydraFacial MD^® liquid based skin exfoliation system. Merger and Public Offering On December 8, 2020, HydraFacial entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Vesper Healthcare Acquisition Corp. (“Vesper”), which provides for, among other things, the merger with and into Vesper, with the combined entity continuing as the surviving entity. The transactions set forth in the Merger Agreement will constitute a “Business Combination” as contemplated by Vesper’s Amended & Restated Certificate of Incorporation. Immediately after the completion of the Business Combination, the shareholders of HydraFacial will exchange their interests in HydraFacial for shares of common stock of the combined entity. Additionally, certain investors have agreed to subscribe for and purchase an aggregate of $350.0 million of common stock of the combined company (“PIPE Financing”). The combined company will continue to operate under the HydraFacial management team, led by Chief Executive Officer Clint Carnell. The boards of directors of both Vesper and HydraFacial have approved the proposed transaction. Per the terms of the Merger Agreement, total aggregate base purchase price payable to the stockholders of HydraFacial is estimated to be $975.0 million. In addition to the consideration to be paid at the closing of the transactions contemplated by the Merger Agreement, the stockholders of HydraFacial may be entitled to receive contingent consideration from Vesper of up to $75.0 million. Liquidity The accompanying consolidated financial statements have been prepared on the going concern basis of accounting, which assumes HydraFacial will continue to operate as a going concern and which contemplates the realization of assets and the satisfaction of liabilities and commitments in the normal course of business. As described in Note 8, HydraFacial had approximately $216.5 million of outstanding indebtedness under its Credit Facility and other debt which are due to related parties as of December 31, 2020. HydraFacial’s Credit Facility, as amended, requires HydraFacial to maintain compliance with a monthly liquidity covenant, whereby beginning in 2021 HydraFacial must have liquidity in excess of $5 million based on cash on hand and availability under the revolving credit facility. In addition, beginning in 2021, HydraFacial is required to maintain quarterly compliance with a leverage ratio that is reduced each quarter. Based on HydraFacial’s current forecasts, HydraFacial anticipates that it will not violate either the liquidity covenant or the leverage covenant under the Credit Agreement through at least May 1, 2022. Forecasted compliance with HydraFacial’s covenants is based upon HydraFacial meeting its plan. With respect to the liquidity covenant, a relatively small decrease in forecasted revenues could result in non-compliance with the liquidity covenant, and if such an event were to occur, a shareholder has committed to provide financial support in an amount sufficient enough to prevent an event of non-compliance through May 1, 2022 or the close of the Business Combination. Separate from any supplemental financial support being provided, management could also take action and reduce anticipated costs related to additional planned investments to potentially mitigate an anticipated failure with the liquidity covenant.

Revenue Recognition

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Revenue Recognition

Note 3 – Revenue Recognition

HydraFacial has determined that each of its products is distinct and represents a separate performance obligation. The customer can benefit from each product on its own or together with other resources that are readily available to the customer. The products are separately identifiable from other promises in the contract. Control over HydraFacial’s products generally transfers to the customer upon shipment of the products from HydraFacial’s warehouse facility. Therefore, revenue associated with product purchases is recognized at a point in time upon shipment to the intended customer.

Disaggregated Revenue

HydraFacial generates revenue through manufacturing and selling HydraFacial and Perk Delivery Systems (the “Delivery Systems”). In conjunction with the sale of Delivery Systems, HydraFacial also sells its serum solutions and consumables (the “Consumables”). The Consumables are sold by HydraFacial and are available for purchase separately from the purchase of the Delivery System.

HydraFacial’s revenue disaggregated by major product line consists of the following for the periods indicated (in thousands):


	Three Months Ended
	March 31, 2021		March 31, 2020
Net Sales
Delivery Systems	$	25,672	$	14,081
Consumables		21,870		18,455

Total net sales	$	47,542	$	32,536

See Note 15 for revenue disaggregated by geographical region.

Note 3 – Revenue Recognition

HydraFacial’s primary source of revenue is derived from the following products:

Delivery Systems

HydraFacial manufactures HydraFacial and PERK branded hydradermabrasion systems that are compatible with HydraFacial’s consumables product line (“Consumables”), but can be used without the purchase of Consumables, which are sold separately. These products are used as a delivery system for the topical therapeutics contained in HydraFacial’s Consumables. Control over HydraFacial’s Delivery System products transfers to the customer upon shipment of the Delivery Systems from HydraFacial’s warehouse facility. Therefore, revenue associated with the Delivery Systems is recognized at a point in time upon shipment to the customer. The Delivery systems are sold on a stand-alone basis and are separate and distinct from the consumables discussed below.

Consumables

The HydraFacial and PERK Consumables are serum solutions and other consumables such as tools and treatment supplies to be used with the HydraFacial and PERK delivery systems. Consumables are sold exclusively by HydraFacial and are available for purchase separately from the purchase of the Delivery Systems. Control over HydraFacial’s Consumable products transfers to the customer upon shipment of the Consumables from HydraFacial’s warehouse facility. Therefore, revenue associated with Consumables is recognized at a point in time upon shipment to the customer.

Disaggregated Revenue

HydraFacial distributes products both through national and international retailers as well as direct-to-consumers through its e-commerce and stores channels. The marketing and consumer engagement benefits that the direct channels provide are integral to HydraFacial’s brand and product development strategy and drive sales across channels. As such, HydraFacial views its two primary distribution channels as components of one integrated business, as opposed to discrete revenue streams.

HydraFacial’s revenue disaggregated by major product line consists of the following for each of the three years in the period ended December 31, 2020:


(in thousands)	2020		2019		2018
Net Sales
Delivery Systems	$	53,372	$	81,467	$	57,067
Consumables		65,720		85,156		55,243

Total net Sales	$	119,092	$	166,623	$	112,310

See Note 18 for disaggregated revenue from contracts with customers by geographical market.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-URI http://asc.fasb.org/topic&trid=49130388

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 10
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130551-203045

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 13
-Subparagraph (b)(2)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130556-203045

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 9
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130550-203045

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (d)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 15
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130558-203045

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 12
-Subparagraph (c)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130554-203045

+ Details

Details of Certain Account Balances

12 Months Ended

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Details of Certain Account Balances

Note 4 – Details of Certain Account Balances

Prepaid expenses consist of the following at December 31, 2020 and 2019:


(in thousands)	2020		2019
Prepaid tradeshows	$	619	$	1,081
Prepaid insurance		11		285
Prepaid inventory		1,086		386
Other prepaid expenses		1,504		1,957

Total prepaid expenses	$	3,220	$	3,709

Other accrued expenses consisted of the following at December 31, 2020 and 2019:


(in thousands)	2020		2019
Sales tax payable	$	1,539	$	1,336
Deferred rent and leases payable		461		422
Other		458		1,188

Total other accrued expenses	$	2,458	$	2,946

Inventories

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Inventories

Note 4 – Inventories

Inventories consist of the following as of the periods indicated (in thousands):


	March 31, 2021		December 31, 2020
Raw materials	$	9,531	$	9,335
Finished goods		12,239		13,867

Total inventories	$	21,770	$	23,202

Note 5 – Inventories

Inventories consist of the following at December 31, 2020 and 2019:


(in thousands)	2020		2019
Raw materials	$	9,335	$	6,533
Work-in-progress		—		176
Finished goods		13,867		12,726

Total inventories	$	23,202	$	19,435

Property and Equipment, net

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Property and Equipment, net

Note 5 – Property and Equipment, net

Property and equipment consist of the following as of the periods indicated (in thousands):


	Useful life (years)		March 31, 2021			December 31, 2020
Furniture and fixtures		2-7	$	3,225		$	3,265
Computers and equipment		3-5		3,630			3,502
Autos and trucks		5		454			413
Tooling		5		1,150			1,150
Leasehold improvements		Shorter of remaining lease term or estimated useful life		4,443			4,097

Total Property and equipment				12,902			12,427

Less: accumulated depreciation and amortization				(5,023	)		(4,407	)
Construction-in-progress				267			1,171

Property and equipment, net			$	8,146		$	9,191

Depreciation expense was $0.7 million and $0.6 million for the three months ended March 31, 2021 and 2020, respectively. Of the total depreciation for the three months ended March 31, 2021 and 2020, $0.3 million and $0.3 million, respectively, were recorded in Cost of sales and $0.4 million and $0.3 million, respectively, were recorded in General and administrative expenses in the Condensed Consolidated Statements of Comprehensive Loss.

Note 6 – Property and Equipment, net

Property and equipment consist of the following at December 31, 2020 and 2019:


(in thousands)	Useful life (years)	2020			2019
Furniture and fixtures	2-7	$	3,265		$	2,542
Computers and equipment	3-5		3,502			2,755
Autos and trucks	5		413			308
Tooling	5		1,150			1,145
Leasehold improvements	Shorter of remaining lease term or estimated useful life		4,097			3,692

Total Property and equipment			12,427			10,442

Less: accumulated depreciation and amortization			(4,407	)		(2,237	)
Construction-in-progress			1,171			2,595

Property and equipment, net		$	9,191		$	10,800

Depreciation expense was $2.6 million, $1.4 million and $0.6 million for each of the three years in the period ended December 31, 2020,, respectively. Of the total depreciation for each of the three years in the period ended December 31, 2020, $1.2 million, $0.7 million and $0.3 million, respectively, were recorded in Cost of sales and $1.4 million, $0.7 million and $0.3 million, respectively, were recorded in General and administrative expenses in the Consolidated Statements of Comprehensive Loss.

Goodwill and Intangible Assets, net

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Goodwill and Intangible Assets, net

Note 6 – Goodwill and Intangible Assets, net

The gross carrying amount and accumulated amortization of HydraFacial’s intangible assets, net, as of March 31, 2021 were as follows (in thousands):


	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Estimated Useful Life (Years)
Trademarks	$	9,480	$	(2,934	)	$	6,546		15
Customer relationships		6,016		(2,455	)		3,561		5-10
Developed technology		70,900		(38,404	)		32,496		8
Patents		1,596		(173	)		1,423		4-19
Capitalized Software		8,208		(1,980	)		6,228		3-5

Total intangible assets	$	96,200	$	(45,946	)	$	50,254

The gross carrying amount and accumulated amortization of HydraFacial’s intangible assets, net, as of December 31, 2020 were as follows (in thousands):


	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Estimated Useful Life (Years)
Trademarks	$	9,480	$	(2,765	)	$	6,715		15
Customer relationships		6,003		(2,263	)		3,740		5-10
Developed technology		70,900		(36,189	)		34,711		8
Patents		1,423		(158	)		1,265		4-19
Capitalized Software		6,172		(1,668	)		4,504		3-5

Total intangible assets	$	93,978	$	(43,043	)	$	50,935

Amortization expense for the three months ended March 31, 2021 and 2020, was $2.9 million and $3.2 million, respectively. Of the total amortization expense for three months ended March 31, 2021 and 2020, $2.2 million and $2.7 million, respectively, were recorded in Cost of sales and $0.7 million and $0.5 million, respectively, were recorded in General and administrative expenses in the Condensed Consolidated Statements of Comprehensive Loss.

The changes in the carrying value of goodwill between December 31, 2020 and March 31, 2021 are from the effect of a foreign currency translation.

Note 7 – Goodwill and Intangible Assets, net

The gross carrying amount and accumulated amortization of HydraFacial’s intangible assets, net, as of December 31, 2020 were as follows:


(in thousands)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Estimated Useful Life (Years)
Trademarks	$	9,480	$	(2,765	)	$	6,715		15
Customer relationships		6,003		(2,263	)		3,740		5-10
Developed technology		70,900		(36,189	)		34,711		8
Patents		1,423		(158	)		1,265		4-19
Capitalized Software		6,172		(1,668	)		4,504		3-5

Total intangible assets	$	93,978	$	(43,043	)	$	50,935

The weighted average remaining useful life for the patents acquired during 2020 was 10 years. Amounts include the impact of foreign currency translation.

The gross carrying amount and accumulated amortization of HydraFacial’s intangible assets, net, as of December 31, 2019 were as follows:


(in thousands)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Estimated Useful Life (Years)
Trademarks	$	9,480	$	(2,088	)	$	7,392		15
Customer relationships		5,958		(1,642	)		4,316		5-10
Developed technology		70,900		(27,326	)		43,574		8
Patents		4,633		(2,617	)		2,016		4-19
Capitalized Software		3,572		(577	)		2,995		3-5

Total intangible assets	$	94,543	$	(34,250	)	$	60,293

The changes in the carrying value of goodwill for the years ended December 31, 2020 and 2019 are as follows:


(in thousands)	Amount
December 31, 2018	$	98,147

Acquisition of Consultingroom.com		347
Foreign currency translation impact		26

December 31, 2019	$	98,520

Foreign currency translation impact		11

December 31, 2020	$	98,531

Amortization expense for each of the three years in the period ended December 31, 2020, was $11.8 million, $12.4 million and $10.7 million, respectively. Of the total amortization expense for each of the three years in the period ended December 31, 2020, $9.5 million, $10.7 million and $9.6 million, respectively, were recorded in Cost of sales and $2.4 million, $1.7 million and $1.1 million, respectively, were recorded in General and administrative expenses in the Consolidated Statements of Comprehensive Loss.

The following table shows the expected future amortization expense for intangible assets at December 31, 2020:


(in thousands)	Expected Future Amortization Expense
2021		11,588
2022		11,529
2023		11,529
2024		10,232
2025		1,132
Thereafter		4,925

Total	$	50,935

Long-Term Debt

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Long-Term Debt

Note 7 – Long-term Debt

HydraFacial’s long-term debt consists of the following as of the periods indicated (in thousands):


	March 31, 2021			December 31, 2020
Revolver	$	5,000		$	—
Current portion of Term Loan		1,772			1,772
Current portion of deferred financing costs		(1,575	)		(1,260	)

Current portion of long-term debt, net		5,197			512
Term Loan, net of current portion		184,661			184,175
Term A Loan		34,648			33,395
Long-term portion of deferred financing costs		(837	)		(1,546	)

Long-term debt, net		218,472			216,024

Total debt, net	$	223,669		$	216,536

Deferred financing costs amortization expense for the three months ended March 31, 2021 and 2020 amounted to $0.4 million and $0.3 million, respectively, and is included in Interest expense, net on the Condensed Consolidated Statements of Comprehensive Loss.

Revolver and Term Loans

HydraFacial has a credit agreement (the “Credit Agreement”) with a bank that is a related party holding less than 5% interest in HydraFacial, which originally provided for $65 million of term loans (the “Term Loans”) and a revolving line of credit (the “Revolver”) of $5.0 million. During August 2018, the Credit Agreement was amended to provide an additional $113.0 million of Term Loans and to increase the capacity under the Revolver to $15.0 million. During August 2019, HydraFacial further amended the Credit Agreement to provide an additional $10.0 million of Term Loans.

Borrowings under the Credit Agreement bear interest at a Base Rate plus an Applicable Margin (“Base Rate Loan”) or a specified London Inter-Bank Offering Rate (LIBOR) plus an Applicable Margin. (“LIBOR Loan”). There was no interest on the Revolver in 2020, as there is no outstanding balance as of December 31, 2020. Interest is due on Base Rate Loans in arrears on the first day of each calendar month, and on the last day of the applicable interest period for LIBOR Loans. Principal on the Term Loan is due in installments of approximately $0.5 million at the end of each calendar quarter and the remaining principal is due upon maturity. The Credit Agreement matures on August 24, 2022, at which time the outstanding balances under the Revolver and Term Loans are due.

As of March 31, 2021 and December 31, 2020, there was an outstanding balance of $186.4 million and $185.9 million on the term loan, respectively. As of March 31, 2021, there was $5.0 million outstanding on the Revolver and as of December 31, 2020, there was no outstanding balance on the Revolver. As of March 31, 2021 and December 31, 2020, available borrowing capacity under the Revolver was $10.0 million and $15.0 million, respectively. Commitment fees on the revolving line of credit undrawn initial committed amount of $5.0 million is 1.50% per annum. The interest rate on the Revolver under the Credit Agreement was 8.75% for the three months ended March 31, 2021.

On April 10, 2020, the Credit Agreement was amended to include a “PIK” interest component of 2% that accrues on the outstanding balances of the Term Loan and the Revolver. Additionally, HydraFacial is required to pay an early prepayment fee of 2.00% of the amount prepaid or repaid on the Term Loan prior to April 10, 2021, and 1.00% if prepaid between April 11, 2021 and April 10, 2022. The interest rates on the Term Loan borrowings under the Credit Agreement including PIK was 8.75% for the three months ended March 31, 2021.

HydraFacial’s initial Credit Agreement is collateralized by all assets of HydraFacial. The Term Loan and the Revolver contain customary covenants that restrict the ability of HydraFacial and its consolidated subsidiaries to, among other things, incur additional indebtedness, sell certain assets, guarantee obligations of third parties, pay cash dividends except to HydraFacial’s subsidiary or direct parent or make certain other distributions, and undergo a merger or consolidation or certain other transactions without the lenders’ consent. The Credit Agreement is also subject to certain financial covenants, requiring HydraFacial to maintain compliance with certain leverage ratios. HydraFacial was in compliance with its financial covenants as of March 31, 2021 and December 31, 2020.

Term A Loan

On April 10, 2020, HydraFacial entered into a second credit agreement with related parties to provide for term loan borrowings of $30.0 million (“Term A Loan”). Borrowings accrue interest at a rate of 15.0% and the agreement matures on August 24, 2023. Accrued interest is due quarterly which will be paid by increasing the amount of principal outstanding under the Term A Loan (“PIK Interest”). The PIK Interest shall be payable in cash upon maturity or acceleration of the Term A Loan in the event of default or change in control. The outstanding principal and interest on the Term A Loan is payable upon maturity. Term Loan A accrued $1.3 million in PIK interest for the three months ended March 31, 2021.

HydraFacial is required to pay an early prepayment fee of 2.00% of the amount of the Term A Loan prepaid or repaid prior to April 10, 2021, and 1.00% if prepaid between April 11, 2021 and April 10, 2022. Similar to the HydraFacial existing credit agreement, the Term A Loan is also subject to certain customary financial covenants and restrictions including to maintain quarterly consolidated profitability and debt-service ratios. These financial covenants are less restrictive than those of the initial Credit Agreement. The Term A loan is collateralized by all assets of HydraFacial and is subordinated to HydraFacial’s existing first lien borrowings under the Credit Agreement.

Subsequent to March 31, 2021, in connection with the consummation of the Business Combination, all outstanding debt was repaid.

Note 8 – Long-Term Debt

HydraFacial’s long-term debt consists of the following at December 31, 2020 and 2019:


(in thousands)	2020			2019
Revolver	$	—		$	8,500
Current portion of Term Loan		1,772			1,772
Current portion of deferred financing costs		(1,260	)		(1,345	)

Current portion of long-term debt, net		512			8,927
Term Loan, net of current portion		184,175			183,222
Term A Loan		33,395			—
Long-term portion of deferred financing costs		(1,546	)		(2,372	)

Long-term debt, net		216,024			180,850

Total debt, net	$	216,536		$	189,777

Revolver and Term Loans

Deferred financing cost amortization expense for each of the three years in the period ended December 31, 2020, amounted to $1.5 million, $1.4 million and $0.7 million, respectively, and is included in Interest expense, net on the Consolidated Statements of Comprehensive Loss.

Borrowings under the Credit Agreement bear interest at a Base Rate plus an Applicable Margin (“Base Rate Loan”) or a specified London Inter-Bank Offering Rate (LIBOR) plus an Applicable Margin (“LIBOR Loan”). The interest rate on the Term Loan borrowings under the credit agreement was 7.695% as of December 31, 2019. The interest rate on the Revolver was 7.695% as of December 31, 2019. There was no interest on the Revolver in 2020, as there is no outstanding balance as of December 31, 2020. Interest is due on Base Rate Loans in arrears on the first day of each calendar month, and on the last day of the applicable interest period for LIBOR Loans. Principal on the Term Loan is due in installments at the end of each calendar quarter of $0.5 million for the first eight quarters beginning in the first quarter of 2017, $0.9 million for the following eleven quarters, and the remaining principal is due upon maturity. The Credit Agreement matures on August 24, 2022, at which time any outstanding balances under the Revolver and Term Loans are due.

As of December 31, 2020 and 2019, there was an outstanding balance of $186.0 million and $185.0 million on the Term Loans, respectively. As of December 31, 2020, there was no outstanding balance on the Revolver. As of December 31, 2019 there was $8.5 million in borrowings outstanding on the Revolver. As of December 31, 2020 and 2019, available borrowing capacity under the Revolver was $15.0 million and $6.5 million, respectively. Commitment fees on the revolving line of credit undrawn initial committed amount of $5.0 million is 1.50% per annum.

On April 10, 2020, the Credit Agreement was amended to include a “PIK” interest component of 2% that accrues on the outstanding balances of the Term Loan and the Revolver. Additionally HydraFacial is required to pay an early prepayment fee of 2.00% of the amount prepaid or repaid on the Term Loan prior to April 10, 2021, and 1.00% if prepaid between April 11, 2021 and April 10, 2022. The interest rates on the Term Loan borrowings under the credit agreement including PIK was 8.750% as of December 31, 2020. The Term loan accrued $2.7 million in PIK interest for the year ended December 31, 2020.

Term A Loan

On April 10, 2020, HydraFacial entered into a second credit agreement with related parties to provide for term loan borrowings of $30.0 million (“Term A Loan”). Borrowings accrue interest at a rate of 15.0% and the agreement matures on August 24, 2023. Accrued interest is due quarterly which will be paid by increasing the amount of principal outstanding under the Term A Loan (“PIK Interest”). The PIK Interest shall be payable in cash upon maturity or acceleration of the Term A Loan in the event of default or change in control. The outstanding principal and interest on the Term A Loan is payable upon maturity. Term Loan A accrued $3.4 million in PIK interest for the year ended December 31, 2020.

HydraFacial is required to pay an early prepayment fee of 2.00% of the amount of the Term A Loan prepaid or repaid prior to April 10, 2021, and 1.00% if prepaid between April 11, 2021 and April 10, 2022. Similar to the HydraFacial existing credit agreement, the Term A Loan is also subject to certain customary financial covenants and restrictions including to maintain quarterly consolidated profitability and debt-service ratios. These financial covenants are less restrictive than those of the existing credit agreement. The Term A loan is collateralized by all assets of HydraFacial and is subordinated to HydraFacial’s existing first lien borrowings under the Credit Agreement.

Scheduled Debt Maturities

Scheduled payments of principal on Hydrafacial’s long-term debt, excluding deferred financing costs for the future years ending December 31, are as follows:


(in thousands)	Scheduled Payments
2021	$	1,772
2022		184,175
2023		33,395
2024		—
2025		—

Total	$	219,342

Employee Benefit Plan	3 Months Ended	12 Months Ended
Employee Benefit Plan	Mar. 31, 2021	Dec. 31, 2020
LCP Edge Intermediate, Inc. [Member]
Employee Benefit Plan	Note 9 – Employee Benefit Plan HydraFacial sponsors a defined contribution 401(k) and profit sharing plan that all regular employees are eligible to participate in after one year of service. The Plan is administered by a third-party administrator. Contributions to the plans were $0.2 million and $0.3 million for the three months ended March 31, 2021 and 2020, respectively.	Note 10 – Employee Benefit Plan HydraFacial sponsors a defined contribution 401(k) and profit sharing plan that all regular employees are eligible to participate in after one year of service. The Plan is administered by a third-party administrator. Contributions to the plans were $0.8 million, $0.9 million and $0.4 million for each of the three years in the period ended December 31, 2020, respectively.

Equity-Based Compensation

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Equity-Based Compensation

Note 10 – Equity-Based Compensation

2016 Equity Incentive Award Plan

HydraFacial had approximately 1,509 time vested stock options and 5,082 performance based stock options outstanding as of December 31, 2019 under its 2016 Equity Incentive Award Plan (the “2016 Plan”). These awards were subsequently canceled by HydraFacial during 2020 and replaced with new incentive units of LCP Holdco.

Incentive Units

As of March 31, 2021, there were 318 Time Vesting Units and 4,033 Performance Vesting Units issued and outstanding at LCP level.

Stock-based Compensation Expense

Stock-based compensation expense for the Incentive Units is recorded by HydraFacial as it has been determined that the economic interest holder, LCP Holdco, has made a capital contribution to HydraFacial, who will make stock-based payments to its employees in exchange for services rendered. The total net stock-based compensation is attributable to the granting of, and the remaining requisite service periods of, Option Awards and Incentive Units.

Compensation expense attributable to stock-based compensation was immaterial for the three months ended March 31, 2021 and 2020, respectively.

HydraFacial estimates the fair value of the Incentive Units using a Monte Carlo simulation model. Stock-based compensation expense is recognized for the Time Vesting Units as service is provided, and stock-based compensation expense is recognized for the Performance Vesting units that are expected to vest upon the achievement of the performance condition. A change in control event is not deemed probable until consummated. As of March 31, 2021, achievement of the performance condition was not probable. Total unrecognized compensation related to unvested Time Vesting Units as of March 31, 2021 was approximately $0.3 million, and the total unrecognized compensation related to Performance Vesting Units was $1.1 million.

Note 11 – Equity-Based Compensation

2016 Equity Incentive Award Plan

In December 2016, HydraFacial established its 2016 Plan, the purpose of which was to provide incentives to selected officers and employees, to secure and retain their services, and to strengthen their commitment to HydraFacial. The maximum number of shares available for grant under the plan is approximately 6,679 shares. The Plan provides for grants of time vesting (“Time Vesting Options”) and performance-based equity awards (“Performance Vesting Options”) to Company employees (together the “Options”). The vesting of these Options varies based on whether they are Time Vesting Options or Performance Vesting Options as described in the grant agreements.

The Time Vesting Options vest in five equal annual installments as long as the grantee remains continuously employed by HydraFacial. If the grantee remains employed by HydraFacial upon the consummation of a qualified sale (“Qualified Sale”) of HydraFacial in connection with a change of control as defined in the award agreement (“Change of Control”), then 100% of the unvested time awards will immediately vest. Change of Control events include any merger, consolidation, reorganization, combination, sale or transfer of the capital stock that provides the acquirer with the voting power to elect a majority of the board of directors or all or substantially all of the assets of HydraFacial or Parent determined on a consolidated basis. The options may be exercised during continued employment or within 3 months of terminating employment. The options expire ten years after the date of grant.

As of December 31, 2019 and 2018, 1,509 of these awards were issued and outstanding, respectively, with a weighted average exercise price of $417 per share and a remaining contractual term of 7.3 years as of December 31, 2019. The grant date fair value of these awards and the related share-based compensation expense related to these awards is not material to the financial statements. These awards were subsequently canceled by HydraFacial during 2020 and replaced with new incentive units of LCP.

The Performance Vesting Options vest based on the achievement of certain financial performance targets upon the consummation of a Qualified Sale of HydraFacial in connection with a Change of Control. The awards are also subject to the grantee being continuously employed by HydraFacial through the vesting date. As of December 31, 2019 and 2018, 5,082 of these awards were issued and outstanding, respectively, with a weighted average exercise price of $383 per share and a remaining contractual term of 7.1 years as of December 31, 2019. The grant date fair value of these awards was not material, and no share-based compensation expense has been recognized for these awards because the performance conditions were not deemed to be probable of occurring. These awards were subsequently cancelled and replaced by HydraFacial during 2020 with new incentive units of LCP.

Incentive Units

During May 2020, HydraFacial canceled 1,295 of the time vested stock options and 4,440 of the performance-based stock options outstanding under the 2016 Plan (“Option Awards”) and replaced these awards with 1,295 of new time vested incentive units (“Time Vesting Units”) and 4,440 of performance based incentive units (“Performance Vesting Units”) of LCP Holdco (the “Incentive Units”) for certain members of management pursuant to the LCP Holdco LLC Agreement. The Incentive Units were intended to constitute profits interests and were granted for purposes of enabling such individuals to participate in the long-term growth and financial success of HydraFacial and were issued in exchange for services to be performed. The replacement was treated as a grant of a new award in exchange for cancellation of an old award, and, therefore, was accounted for as a modification. The Incentive Units retain the same vesting schedule that existed under the 2016 Plan, and the remainder of the vesting terms remained materially unchanged with all of the incentive units. As a result, all of the incentive units immediately vest upon a Qualified Sale that constitutes a change of control which includes a reverse recapitalization. Subsequent to May 2020, Company employees were granted an additional 178 of Time Vesting Units, for a total of 1,473, and 533 of Performance Incentive Units for a total of 4,973, together with the Time Vesting Units and Option Awards, the “Equity Awards”). The incentive units granted during May 2020 have a profit sharing threshold of $100 per unit, and the incentive units granted during September 2020 and October 2020 have a weighted average profit sharing threshold of $3,323 per unit. The performance condition related to the Performance Vesting Units is based upon the amount of proceeds received in connection with a qualified sale related to a liquidity event, which can include a reverse recapitalization.

A summary of non-vested Time Vesting Units activity is as follows for the year ended December 31, 2020:


	Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2019		—		$	—
Granted		1,473			373.88
Forfeited		(174	)		261.98
Vested		(926	)		271.51

Outstanding at December 31, 2020		373		$	680.62

A summary of non-vested Performance Vesting Units activity is as follows for the year ended December 31, 2020:


	Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2019		—		$	—
Granted		4,973			252.77
Forfeited		(940	)		153.45

Outstanding at December 31, 2020		4,033		$	275.85

As of the date of the modification, approximately 684 of the Time Vesting Units were vested, with the remaining Time Vesting Units vesting over 5 years. In May 2020, HydraFacial recognized $0.2 million of incremental share-based compensation expense related to the replacement Incentive Units. As of December 31, 2020, there were 926 vested and 373 unvested and expected to vest Time-Vesting Units.

Share-based Compensation Expense

Share-based compensation expense for the Incentive Units is recorded by HydraFacial as it has been determined that the economic interest holder, LCP Holdco, has made a capital contribution to HydraFacial, who will make share-based payments to its employees in exchange for services rendered. The total net stock-based compensation is attributable to the granting of, and the remaining requisite service periods of Option Awards and Incentive Units.

As noted above, during May 2020, HydraFacial recognized $0.2 million of incremental share-based compensation expense related to the replacement Incentive Units based on the fair value of the awards on the date of the modification. Compensation expense attributable to stock-based compensation is $0.4 million for the period ended December 31, 2020. Share-based compensation expense for the period ended December 31, 2019 and 2018 is not material to the financial statements.

HydraFacial estimates the fair value of the Incentive Units using a Monte Carlo simulation model. Stock-based compensation expense is recognized for the Time Vesting Units as service is provided, and stock-based compensation expense is recognized for the Performance Vesting Units that are expected to vest upon the achievement of the performance condition. A change in control event is not deemed probable until consummated. As of December 31, 2020, achievement of the performance condition was not probable. Total unrecognized compensation related to unvested Time Vesting Units as of December 31, 2020 was approximately $0.3 million, and the total unrecognized compensation related to Performance Vesting Units was $1.1 million.

Commitments and Contingencies

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Commitments and Contingencies

Note 11 – Commitments and Contingencies

Litigation – From time to time HydraFacial is involved in claims, legal actions and governmental proceedings that arise from its business operations. As of March 31, 2021 and December 31, 2020, HydraFacial was not party to any legal proceedings or threatened legal proceedings, the adverse outcome of which, individually or in the aggregate, it believes would have a material adverse effect on its business, financial condition or results of operations.

Note 12 – Commitments and Contingencies

Litigation – From time to time HydraFacial is involved in claims, legal actions and governmental proceedings that arise from its business operations. As of December 31, 2020, HydraFacial was not party to any legal proceedings or threatened legal proceedings, the adverse outcome of which, individually or in the aggregate, it believes would have a material adverse effect on its business, financial condition or results of operations.

Operating leases – HydraFacial leases its office, production, warehouse facilities and certain equipment under operating leases expiring through November 2024. The leases require HydraFacial to pay maintenance expenses, property taxes, and insurance and include annual rent increases based upon the contractual lease rates. Total rent expense was $3.7 million, $1.9 million and $1.3 million for the years ended December 31, 2020, 2019 and 2018, respectively. Rent expense incurred with related-parties for each of the three years in the period ended December 31, 2020, was $0.3 million, $0.5 million and $0.4 million, respectively. See Note 15.

Minimum payments under non-cancelable operating leases for future years ending December 31, are as follows:


	Related Party		Unrelated Party		Total
2021	$	448		2,169		2,617
2022		189		2,243		2,432
2023		—		2,114		2,114
2024		—		2,048		2,048
2025		—		669		669

Total	$	637	$	9,243	$	9,880

Software Licenses – HydraFacial has entered into software license agreements whereby it is contractually obligated to make periodic payments totaling $1.2 million for the year ended December 31, 2021, and $3.1 million thereafter through July 2025. These amounts are not included in the consolidated financial statements.

License Agreement	12 Months Ended
License Agreement	Dec. 31, 2020
LCP Edge Intermediate, Inc. [Member]
License Agreement	Note 13 – License Agreement Prior to 2018, HydraFacial entered into an exclusive license agreement with a patent holder for the use of certain patents for skin treatment technology and techniques. Under the terms of the agreement, HydraFacial was required to pay certain royalty fees. During 2018, HydraFacial purchased the patent for $3.6 million from the holder, which relieved HydraFacial from future payments under the agreement. The patent is included within Intangible assets, net on the Consolidated Balance Sheets. Total royalty expense is included in cost of sales and was $0.3 million for the year ended December 31, 2018. There was no royalty expense for the years ended December 31, 2020 and 2019.

Concentrations

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Concentrations

Note 12 – Concentrations

Purchases from major suppliers amount to as follows for the periods indicated (in thousands):


	Three Months Ended March 31, 2021
	Amount		% of Total Purchases
Supplier A	$	1,803		28.3	%
Supplier B		1,119		17.6
Supplier C		681		10.7

Total	$	3,603		56.6	%

Included in Accounts payable at March 31, 2021, was $1.4 million payable to these vendors.

Purchases from major suppliers amount to as follows for the periods indicated (in thousands):


	Three Months Ended March 31, 2020
	Amount		% of Total Purchases
Supplier A	$	2,275		22.4	%
Supplier B		1,152		11.4
Supplier C		1,025		10.1

Total	$	4,452		43.9	%

Included in Accounts payable as of December 31, 2020 was $1.0 million payable to these vendors.

As of March 31, 2021, HydraFacial had no customers that accounted for 10% or more of the Accounts receivable balance.

As of December 31, 2020, HydraFacial had one customer that accounted for 10% or more of the Accounts receivable balance. This customer accounted for 10.5%, or $1.9 million, of the Accounts receivable balance.

No single customer accounted for 10% or more of consolidated Net sales during the three months ended March 31, 2021 and 2020.

Note 14 – Concentrations

Purchases from major suppliers amount to as follows for the year ended December 31, 2020:


	2020
(in thousands)	Amount		% of Total Purchases
Supplier A	$	6,195		21	%
Supplier B		4,908		16

Total	$	11,103		37	%

Included in Accounts payable on the Consolidated Balance Sheets at December 31, 2020, was $1.0 million payable to these vendors.

Purchases from major suppliers amount to as follows for the year ended December 31, 2019:


	2019
(in thousands)	Amount		% of Total Purchases
Supplier A	$	6,077		17	%
Supplier B		4,173		12
Supplier C		4,101		12

Total	$	14,351		41	%

Included in Accounts payable on the Consolidated Balance Sheets at December 31, 2019, was $1.5 million payable to these vendors.

Purchases from major suppliers amount to as follows for the year ended December 31, 2018:


	2018
(in thousands)	Amount		% of Total Purchases
Supplier A	$	3,449		12	%
Supplier B		2,928		10

Total	$	6,377		22	%

Included in Accounts payable on the Consolidated Balance Sheets at December 31, 2018, was $0.9 million payable to these vendors.

As of December 31, 2020, HydraFacial had one customer that accounted for 10% or more of the accounts receivable balance. This customer accounted for 10.5%, or $1.9 million, of the accounts receivable balance.

Business Acquisition

12 Months Ended

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Business Acquisition

Note 16 – Business Acquisition

On September 27, 2019, HydraFacial purchased substantially all assets of Consultingroom.com Limited, a distributor in the United Kingdom (UK). The fair value of the consideration transferred to the selling members was approximately $2.9 million of initial and deferred cash payments. HydraFacial paid the deferred payment of $0.9 million in September 2020. HydraFacial incurred certain costs related to this transaction including legal and accounting totaling approximately $0.2 million, which was recognized as transaction costs within general and administrative expenses on the statement of comprehensive loss during the year ended December 31, 2019.

HydraFacial applied the acquisition method of accounting and established a new basis of accounting on the date of the acquisition. The assets acquired by HydraFacial are accordingly measured at their estimated fair values.

The following table summarizes the estimated fair values assigned to the assets acquired at the date of acquisition:


(in thousands)	Estimated Fair Value
Inventory	$	1,193
Property and equipment		23
Intangible assets		1,359

Net assets acquired	$	2,575
Goodwill		347

Total consideration	$	2,922

The primary purpose of the acquisition was to expand HydraFacial’s operations in the UK market. The goodwill arising from the acquisition consists largely of the business reputation of the acquired Company in the marketplace and its assembled workforce. The goodwill is deductible for income tax purposes.

Intangible assets consist of customer relationships with a weighted average amortization period of 4 years. The valuation of the acquired intangible asset was estimated by performing projections of discounted cash flows, whereby revenues and costs associated with each intangible asset are forecasted to derive expected cash flow which is discounted to present value at discount rates commensurate with perceived risk. The valuation and projection process is inherently subjective and relies on significant unobservable inputs (Level 3 inputs).

Segment Reporting

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Segment Reporting

Note 15 – Segment Reporting

HydraFacial 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, decides how to allocate resources and assess performance, reviews financial information presented on a consolidated basis for purposes of making operating decisions, allocates resources and evaluates financial performance.

Net sales by geographic region were as follows for the periods indicated (in thousands):


	Three Months Ended
	March 31, 2021		March 31, 2020
Americas	$	31,280	$	23,913
EMEA		7,471		6,888
Asia Pacific		8,791		1,735

Total net sales	$	47,542	$	32,536

As of March 31, 2021 and December 31, 2020, substantially all of HydraFacial’s property and equipment, net was held in the United States.

Note 18 – Segment Reporting

For each of the three years in the period ended December 31, 2020, net sales by geographic region were as follows:


(in thousands)	2020		2019		2018
Americas	$	81,453	$	122,396	$	88,689
EMEA		23,175		28,425		17,358
Asia Pacific		14,464		15,802		6,263

Total net sales	$	119,092	$	166,623	$	112,310

As of December 31, 2020 and 2019, substantially all of HydraFacial’s property, plant and equipment was held in the United States.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 31
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8924-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 34
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8981-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 21
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8721-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Section 50
-Paragraph 32
-Subparagraph (f)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Subparagraph (e)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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+ Details

Net Loss Attributable to Common Shareholders

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Net Loss Attributable to Common Shareholders

Note 16 – Net Loss Attributable to Common Shareholders

Net loss attributable to common stockholders is computed by deducting both the dividend distributions declared in the period on preferred stock and the dividends accumulated for the period on cumulative preferred stock from net income (“Basic EPS”). Diluted net loss per share (“Diluted EPS”) is computed by dividing net loss attributable to common stockholders by the total of the weighted-average common stock outstanding shares outstanding during the period.

Diluted EPS for the three months ended March 31, 2020 exclude the dilutive effect of stock option shares because their inclusion would be anti-dilutive for all periods. All stock options were cancelled during 2020.

The following table sets forth the calculation of both basic and diluted net loss per share as follows for the periods indicated (in thousands, except share and per share amounts):


	Three Months Ended
	March 31, 2021			March 31, 2020
Basic and Diluted Net loss per share:
Net loss	$	(3,274	)	$	(9,070	)
Less: Cumulative preferred dividends		(201	)		(188	)

Net loss attributable to common shareholders	$	(3,475	)	$	(9,258	)

Shares used in computation:
Weighted-average common shares outstanding		54,358			49,205

Basic and Diluted Net loss per share:	$	(63.92	)	$	(188.17	)

The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive for the periods indicated:


	Three Months Ended
	March 31, 2021		March 31, 2020
Stock Options		—		1,509

Note 19 – Net Loss Attributable to Common Shareholders

Computation of Diluted EPS for each of the three years in the period ended December 31, 2020, respectively exclude the dilutive effect of stock option shares because their inclusion would be anti-dilutive for all periods.

The following table sets forth the calculation of both basic and diluted net loss per share as follows:


(in thousands, except share and per share amounts)	2020			2019			2018
Basic and Diluted Net loss per share:
Net loss	$	(29,175	)	$	(1,638	)	$	(317	)
Less: Distributions to preferred stockholders		—			—			(85,021	)
Less: Cumulative preferred dividends		(740	)		(721	)		(5,591	)

Net loss attributable to common shareholders	$	(29,915	)	$	(2,359	)	$	(90,929	)

Shares used in computation:
Weighted-average common shares outstanding		52,494			49,205			49,151

Basic and Diluted Net loss per share:	$	(569.87	)	$	(47.94	)	$	(1,849.99	)

The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive for each of the three years in the period ended December 31, 2020:


	2020		2019		2018
Stock Options		542		1,509		1,473

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Basis of Presentation

Basis of Presentation

Emerging Growth Company

Emerging Growth Company

Further, Section 102(b)(1) of the JOBS Act exempts emerging growth companies from being required to comply with new or revised financial accounting standards until private companies (that is, those that have not had a Securities Act registration statement declared effective or do not have a class of securities registered under the Exchange Act) are required to comply with the new or revised financial accounting standards. The JOBS Act provides that a company can elect to opt out of the extended transition period and comply with the requirements that apply to non-emerging growth companies but any such election to opt out is irrevocable. The Company has elected not to opt out of such extended transition period which means that when a standard is issued or revised and it has different application dates for public or private companies, the Company, as an emerging growth company, can adopt the new or revised standard at the time private companies adopt the new or revised standard. This may make comparison of the Company’s consolidated financial statements with another public company which is neither an emerging growth company nor an emerging growth company which has opted out of using the extended transition period difficult or impossible because of the potential differences in accounting standards used.

Use of Estimates

Use of Estimates

Cash and Cash Equivalents

Cash and Cash Equivalents

Marketable Securities Held in Trust Account

Marketable Securities Held in Trust Account

Warrant Liability

Warrant Liability

For issued or modified warrants that meet all of the criteria for equity classification, the warrants are required to be recorded as a component of additional paid-in capital at the time of issuance. For issued or modified warrants that do not meet all the criteria for equity classification, the warrants are required to be recorded at their initial fair value on the date of issuance, and each balance sheet date thereafter. Changes in the estimated fair value of the warrants are recognized as a non-cash gain or loss on the statements of operations. The fair value of the warrants issued in the IPO has been estimated using a Monte Carlo simulation methodology as of the date of the IPO and such warrants’ quoted market price as of December 31, 2020. The private placement warrants were valued using a Monte Carlo simulation methodology (see Note 9).

Class A Common Stock Subject to Possible Redemption

Class A Common Stock Subject to Possible Redemption

Income Taxes

Income Taxes

Offering Costs associated with the Initial Public Offering

Offering Costs associated with the Initial Public Offering

Net Income (Loss) Per Share

Net Income Per Common Share

The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):


	For the Three Months ended March 31, 2021
Common stock subject to possible redemption
Numerator: Earnings allocable to Common stock subject to possible redemption
Interest earned on marketable securities held in Trust Account	$	72,209
Unrealized gain on marketable securities held in Trust Account		878
Less: Company’s portion available to pay taxes		(42,400	)

Net Income allocable to shares subject to redemption	$	30,687

Denominator: Weighted Average Class A common stock subject to possible redemption
Basic and diluted weighted average shares outstanding		46,000,000

Basic and diluted net income per share	$	0.00

Non-Redeemable Common Stock
Numerator: Net income minus Net Earnings
Net income	$	13,637,202
Less: Net income allocable to Class A common stock subject to possible redemption		(30,687	)

Non-Redeemable Net Income	$	13,606,515

Denominator: Weighted Average Non-Redeemable Common Stock
Basic and diluted weighted average shares outstanding		11,500,000

Basic and diluted net income per share	$	1.18

Net Income (Loss) Per Share

The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):


	For the Period from July 8, 2020 (Inception) through December 31, 2020
Common stock subject to possible redemption
Numerator: Earnings allocable to Common stock subject to possible redemption
Interest earned on marketable securities held in Trust Account	$	73,770
Unrealized gain on marketable securities held in Trust Account		6,617
Less: Company’s portion available to pay taxes		(79,207	)

Net Income allocable to shares subject to redemption	$	1,180

Denominator: Weighted Average Class A common stock subject to possible redemption
Basic and diluted weighted average shares outstanding		41,438,497

Basic and diluted net income per share	$	0.00

Non-Redeemable Common Stock
Numerator: Net Loss minus Net Earnings
Net loss	$	(38,913,797	)
Less: Net income allocable to Class A common stock subject to possible redemption		(1,180	)

Non-Redeemable Net Loss	$	(38,914,977	)

Denominator: Weighted Average Non-Redeemable Common Stock
Basic and diluted weighted average shares outstanding		13,388,418

Basic and diluted net loss per share	$	(2.91	)

Concentration of Credit Risk

Concentration of Credit Risk

Fair Value of Financial Instruments

Fair Value of Financial Instruments

The fair value of the Company’s assets and liabilities, which qualify as financial instruments under ASC Topic 820, “Fair Value Measurement,” approximates the carrying amounts represented in the consolidated balance sheet, primarily due to their short-term nature.

Fair Value Measurements

Fair Value Measurements

•

Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

•

Fair Value Measurements

•

Level 1, defined as observable inputs such as quoted prices (unadjusted) for identical instruments in active markets;

•

Derivative Financial Instruments

Derivative Financial Instruments

Recent Accounting Standards

Recent Accounting Standards

LCP Edge Intermediate, Inc. [Member]

Basis of Presentation

Use of Estimates

Cash and Cash Equivalents

Income Taxes

Net Income (Loss) Per Share

Concentration of Credit Risk

Fair Value Measurements

Level 1 – Quoted prices in active markets for identical assets or liabilities.

Level 3 – Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

Recent Accounting Standards

Recently issued accounting pronouncements

Recently Adopted Accounting Pronouncements

Accounting Pronouncements Not Yet Adopted

Recently issued accounting pronouncements

2020 Adoption

Accounting Pronouncements Not Yet Adopted

Income Taxes. In December 2019, the FASB issued ASU No. 2019-12, Income Taxes (Topic 740): Simplifying the Accounting for Income Taxes (“ASU 2019-12”). The amendments in this ASU 2019-12 simplify the accounting for income taxes by removing certain exceptions to the general principles in Topic 740. The amendments also improve consistent application of and simplify GAAP for other areas of Topic 740 by clarifying and amending existing guidance. The update is effective for all entities for fiscal years beginning after December 15, 2021, and interim periods within fiscal years beginning after December 15, 2022. Early adoption is permitted and is effective for HydraFacial beginning on January 1, 2021. HydraFacial is evaluating the impact of ASU 2019-12 on its consolidated financial statements.

Accounts receivable


	2020			2019
Allowance for doubtful accounts, beginning balance	$	732		$	188
Provision for doubtful account		1,442			659
Amounts written off		(142	)		(115	)

Allowance for doubtful accounts, ending balance	$	2,032		$	732

Inventories

Property and equipment

Capitalized software

Impairment of long-lived assets

Intangible assets

Goodwill

HydraFacial performed a qualitative assessment as of December 31, 2020 and 2019. Based on this assessment, HydraFacial determined that it was not more-likely-than-not that the goodwill was impaired.

Deferred Transaction Costs

Deferred loan costs

Share-based compensation

Revenue recognition

In accordance with ASU 2014-09, HydraFacial determines the amount of revenue to be recognized through application of the following steps:

•

Identify the customer contract;

•

Identify the performance obligations in the contract;

•

Determine the transaction price;

•

Allocate the transaction price to the performance obligations in the contract; and

•

Recognize revenue as the performance obligations are satisfied.

Identify the Customer Contract

Identify the Performance Obligations in the Contract and Recognize Revenue

Determine and Allocate the Transaction Price to the Performance Obligations in the Contract

Costs to Obtain and Fulfill a Contract with a Customer

Practical expedients

As noted above, HydraFacial elected to recognize the incremental costs of obtaining contracts, such as sales commissions, as an expense when incurred. These costs are included in operating expenses.

Shipping and handling costs

Advertising costs

Research and development

Foreign currency translation

Comprehensive loss

Comprehensive loss – Comprehensive loss consists of net loss and foreign currency translation adjustments and is presented in the Consolidated Statements of Comprehensive Loss.

Preferred stock

Preferred stock – HydraFacial has issued Class A Preferred Stock. Holders are entitled to receive cumulative dividends, receive liquidation preference, and have no voting rights.

RESTATEMENT OF PREVIOUSLY ISSUED FINANCIAL STATEMENTS (Tables)

12 Months Ended

Dec. 31, 2020

Text Block [Abstract]

Summary of effect of the restatement on each financial statement

The following table summarizes the effect of the restatement on each financial statement line item as of the dates, and for the period, indicated:


	As Previously Reported			Adjustments			As Restated
Balance sheet as of October 2, 2020 (audited)
Warrant Liability	$	—		$	28,860,000		$	28,860,000
Common Shares Subject to Possible Redemption		443,244,970			(28,860,000	)		414,384,970
Class A Common Shares		168			288			456
Additional Paid-in Capital		5,000,853			1,015,507			6,016,360
Accumulated Deficit		(2,163	)		(1,015,795	)		(1,017,958	)
Balance sheet as of December 31, 2020 (audited)
Warrant Liability	$	—		$	65,646,664		$	65,646,664
Common Shares Subject to Possible Redemption		442,135,795			(65,646,665	)		376,489,130
Class A Common Shares		179			656			835
Additional Paid-in Capital		6,110,017			37,801,804			43,911,821
Accumulated Deficit		(1,111,338	)		(37,802,459	)		(38,913,797	)
Shareholders’ Equity		5,000,008			1			5,000,009
Period from July 8, 2020 (inception) to December 31, 2020 (audited)
Change in fair value of warrant liability	$	—		$	(36,786,664	)	$	(36,786,664	)
Offering costs allocated to warrant liability		—			(1,015,795	)		(1,015,795	)
Net loss		(1,111,338	)		(37,802,459	)		(38,913,797	)
Basic and diluted weighted average shares outstanding, common stock subject to possible redemption		44,324,497			(2,886,000	)		41,438,497
Basic and diluted net loss per common share, common stock subject to possible redemption		—			—			—
Basic and diluted weighted average shares outstanding, non-redeemable common stock		11,775,126			1,613,292			13,388,418
Basic and diluted net loss per common share, non-redeemable common stock		(0.09	)		(2.82	)		(2.91	)
Statement of cash flows for the period from July 8, 2020 (inception) through December 31, 2020
Cash Flows from Operating Activities:
Net loss	$	(1,111,338	)	$	(37,802,459	)	$	(38,913,797	)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of warrant liabilities		—			36,786,664			36,786,664
Non-Cash Investing and Financing Activities:
Initial measurement of warrants issued in connection with the Initial Public Offering accounted for as liabilities		—			28,860,000			28,860,000
Statement of changes in stockholders’ equity for the period from July 8, 2020 (inception) through December 31, 2020
Class A common stock:
Shares of Class A common stock subject to possible redemption		(44,213,441	)		6,564,646			(37,648,795	)
Class A common stock subject to possible redemption	$	(4,421	)	$	656		$	(3,765	)
Additional Paid-in Capital:
Sale of 46,000,000 Units, net of underwriting discounts		434,217,541			(16,924,205	)		417,293,336
Contribution in excess of fair value of Private Placement Warrants		—			3,080,000			3,080,000
Sale of 9,333,333 Private Placement Warrants		14,000,000			(14,000,000	)		—
Class A common stock subject to possible redemption		(442,131,374	)		65,646,009			(376,485,365	)
Accumulated Deficit:
Net loss		(1,111,338	)		(37,802,459	)		(38,913,797	)
Total Stockholders’ Equity:
Sale of 46,000,000 Units, net of underwriting discounts		434,222,141			(16,924,205	)		417,297,936
Contribution in excess of fair value of Private Placement Warrants		—			3,080,000			3,080,000
Sale of 9,333,333 Private Placement Warrants		14,000,000			(14,000,000	)		—
Class A common stock subject to possible redemption		(442,135,795	)		65,646,665			(376,489,130	)
Net loss		(1,111,338	)		(37,802,459	)		(38,913,797	)

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Schedule of basic and diluted loss per common share

The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):


	For the Three Months ended March 31, 2021
Common stock subject to possible redemption
Numerator: Earnings allocable to Common stock subject to possible redemption
Interest earned on marketable securities held in Trust Account	$	72,209
Unrealized gain on marketable securities held in Trust Account		878
Less: Company’s portion available to pay taxes		(42,400	)

Net Income allocable to shares subject to redemption	$	30,687

Denominator: Weighted Average Class A common stock subject to possible redemption
Basic and diluted weighted average shares outstanding		46,000,000

Basic and diluted net income per share	$	0.00

Non-Redeemable Common Stock
Numerator: Net income minus Net Earnings
Net income	$	13,637,202
Less: Net income allocable to Class A common stock subject to possible redemption		(30,687	)

Non-Redeemable Net Income	$	13,606,515

Denominator: Weighted Average Non-Redeemable Common Stock
Basic and diluted weighted average shares outstanding		11,500,000

Basic and diluted net income per share	$	1.18

The following table reflects the calculation of basic and diluted net income (loss) per common share (in dollars, except per share amounts):


	For the Period from July 8, 2020 (Inception) through December 31, 2020
Common stock subject to possible redemption
Numerator: Earnings allocable to Common stock subject to possible redemption
Interest earned on marketable securities held in Trust Account	$	73,770
Unrealized gain on marketable securities held in Trust Account		6,617
Less: Company’s portion available to pay taxes		(79,207	)

Net Income allocable to shares subject to redemption	$	1,180

Denominator: Weighted Average Class A common stock subject to possible redemption
Basic and diluted weighted average shares outstanding		41,438,497

Basic and diluted net income per share	$	0.00

Non-Redeemable Common Stock
Numerator: Net Loss minus Net Earnings
Net loss	$	(38,913,797	)
Less: Net income allocable to Class A common stock subject to possible redemption		(1,180	)

Non-Redeemable Net Loss	$	(38,914,977	)

Denominator: Weighted Average Non-Redeemable Common Stock
Basic and diluted weighted average shares outstanding		13,388,418

Basic and diluted net loss per share	$	(2.91	)

LCP Edge Intermediate, Inc. [Member]

Schedule of basic and diluted loss per common share

The following table sets forth the calculation of both basic and diluted net loss per share as follows for the periods indicated (in thousands, except share and per share amounts):


	Three Months Ended
	March 31, 2021			March 31, 2020
Basic and Diluted Net loss per share:
Net loss	$	(3,274	)	$	(9,070	)
Less: Cumulative preferred dividends		(201	)		(188	)

Net loss attributable to common shareholders	$	(3,475	)	$	(9,258	)

Shares used in computation:
Weighted-average common shares outstanding		54,358			49,205

Basic and Diluted Net loss per share:	$	(63.92	)	$	(188.17	)

The following table sets forth the calculation of both basic and diluted net loss per share as follows:


(in thousands, except share and per share amounts)	2020			2019			2018
Basic and Diluted Net loss per share:
Net loss	$	(29,175	)	$	(1,638	)	$	(317	)
Less: Distributions to preferred stockholders		—			—			(85,021	)
Less: Cumulative preferred dividends		(740	)		(721	)		(5,591	)

Net loss attributable to common shareholders	$	(29,915	)	$	(2,359	)	$	(90,929	)

Shares used in computation:
Weighted-average common shares outstanding		52,494			49,205			49,151

Basic and Diluted Net loss per share:	$	(569.87	)	$	(47.94	)	$	(1,849.99	)

Schedule of Change in the Allowance for Doubtful Accounts

The following table presents the change in the allowance for doubtful accounts (in thousands):


	2020			2019
Allowance for doubtful accounts, beginning balance	$	732		$	188
Provision for doubtful account		1,442			659
Amounts written off		(142	)		(115	)

Allowance for doubtful accounts, ending balance	$	2,032		$	732

INCOME TAX (Tables)

12 Months Ended

Dec. 31, 2020

Schedule of Deferred Tax Assets and Liabilities

The Company’s net deferred tax assets are as follows:


	December 31, 2020
Deferred tax assets
Net operating loss carryforward	$	21,990
Startup/ Organizational Expenses		43,197
Unrealized gain on marketable securities		(20,625	)

Total deferred tax assets		44,562
Valuation Allowance		(44,562	)

Deferred tax assets, net of allowance	$	—

Component of the Income Tax Expense

The provision for income taxes consists of the following:


	December 31, 2020
Federal
Current	$	—
Deferred		(44,562	)
State and Local
Current		—
Deferred		—

Change in valuation allowance		44,562

Income tax provision	$	—

Schedule of reconciliation of federal income tax rate

A reconciliation of the federal income tax rate to the Company’s effective tax rate is as follows:


	December 31, 2020
Statutory federal income tax rate		21.0	%
State taxes, net of federal tax benefit		0.0	%
Business combination		(0.5	)%
Change in fair value of warrant liability		(19.8	)%
Offering costs allocated to warrant liability		(0.6	)%
Valuation allowance		(0.1	)%

Income tax provision		0.0	%

LCP Edge Intermediate, Inc. [Member]

Schedule of Deferred Tax Assets and Liabilities

The components of the deferred tax assets are as follows for the years ended December 31, 2020 and 2019:


(in thousands):	2020			2019
Deferred tax assets
State taxes	$	19		$	93
Accrued expenses		1,318			283
Inventories		2,421			2,168
Unfavorable Leasehold Interest		—			107
Accounts receivable		499			184
Section 163(j) Limitation		2,426			2,346
Net Operating Loss Carryforwards		423			107
Other		54

Total deferred tax assets		7,160			5,288
Deferred tax liabilities
Goodwill and intangibles		(7,761	)		(11,323	)
Prepaid expenses		(166	)		(303	)
Property and equipment		(2,541	)		(1,720	)

Total deferred tax liabilities		(10,468	)		(13,346	)
Valuation allowance		(409	)		—

Net deferred tax liability	$	(3,717	)	$	(8,058	)

Component of the Income Tax Expense

The federal, state and foreign component of the income tax expense (benefit) are summarized as follows for each of the three years in the period ended December 31, 2020:


(in thousands)	2020			2019			2018
Current:
Federal	$	(5,760	)	$	2,294		$	2,404
State		79			305			938
Foreign		579			755			—

Total current tax expense (benefit)		(5,102	)		3,354			3,342
Deferred:
Federal		(2,690	)		(3,118	)		(2,425	)
State		(1,499	)		(1,387	)		(502	)
Foreign		(17	)		(146	)		(88	)

Total deferred tax benefit		(4,206	)		(4,651	)		(3,015	)

Total tax (benefit) expense	$	(9,308	)	$	(1,297	)	$	327

Summary of Domestic and Foreign Components of Net Income (Loss) Before Income Taxes

The following table presents domestic and foreign components of net income (loss) before income taxes is as follows for each of the three years in the period ended December 31, 2020.


(in thousands)	2020			2019			2018
Domestic	$	(40,135	)	$	(5,615	)	$	784
Foreign		1,652			2,680			(774	)

Total net income (loss) before taxes	$	(38,483	)	$	(2,935	)	$	10

Effective Income Tax Rate

The effective tax rate of the provision for income tax differs from the federal statutory rate as follows for each of the three years in the period ended December 31, 2020:


	2020					2019					2018
Federal statutory income tax rate		(8,081	)	21.0	%		(616	)	21.0	%		2		21.0	%
State taxes, net of federal benefit		(1,155	)	3.0			(337	)	11.5			56		560.0
Incentive Stock Compensation		76		(0.2	)		45		(1.5	)		13		130.0
Meals and Entertainment		79		(0.2	)		135		(4.6	)		51		510.0
GILTI		—		—			708		(24.1	)		—		—
Section 250 Deduction		—		—			(486	)	16.6			—		—
Foreign Tax Credit		—		—			(62	)	2.1			—		—
Foreign Rate Differential		(6	)	—			88		(3.0	)		36		360.0
R&D Credit		(79	)	0.2			—		—			—		—
State Rate Change, net of federal effect		(465	)	1.2			(429	)	14.6			227		2,270.0
Tax Cuts and Jobs Act Benefit		—		—			—		—			(251	)	(2,510.0	)
Change in valuation allowance		409		(1.1	)		—		—			—		—
Other		(86	)	0.2			(343	)	11.7			192		1,920

Provision for taxes		(9,308	)	24.1	%		(1,297	)	44.2	%		327		3,261	%

Significant Components of the Deferred Tax Liabilities

Our net deferred tax liability as presented in our consolidated balance sheet consist of the following items (in thousands):


(in thousands):	2020			2019
Deferred tax assets	$	270		$	232
Deferred tax liabilities		(3,987	)		(8,290	)

Net deferred tax liability	$	(3,717	)	$	(8,058	)

Schedule of Reconciliation of the beginning and ending balances of unrecognized tax benefits

A reconciliation of the beginning and ending balances of unrecognized tax benefits is as follows for the year ended December 31, 2020:


(in thousands)	2020
Unrecognized tax benefits at beginning of period	$	—
Increases for tax positions in prior periods		235
Decreases for tax positions in prior periods		—
Increases for tax positions in current period		35
Settlements/statute expirations		—

Unrecognized tax benefits at end of period	$	270

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of fair value on a recurring basis


Description	Level		March 31, 2021		December 31, 2020
Assets:
Marketable securities held in Trust Account		1		460,184,400		460,098,212
Liabilities:
Warrant Liability – Public Warrants		1		31,893,332		40,633,332
Warrant Liability – Private Placement Warrants		3		19,599,999		25,013,332


Description	Level		December 31, 2020
Assets:
Marketable securities held in Trust Account		1		460,098,212
Liabilities:
Warrant Liability – Public Warrants		1		40,633,332
Warrant Liability – Private Placement Warrants		3		25,013,332

Summary of quantitative information regarding fair value measurements of warrants

The key inputs into the Monte Carlo simulation model for the Private Placement Warrants at March 31, 2021 were as follows:


Input	March 31, 2021
Risk-free interest rate		0.92	%
Expected term (years)		5.08
Expected volatility		14.9	%
Exercise price	$	11.50
Fair value of Units	$	10.03

The key inputs into the Monte Carlo simulation model for the Private Placement Warrants and Public Warrants were as follows at initial measurement:


Input	October 2, 2020 (Initial Measurement)
Risk-free interest rate		0.34	%
Expected term (years)		5.57
Expected volatility		17.4	%
Exercise price	$	11.50
Fair value of Units	$	10.00

Summary of reconciliation of warrant liabilities measured at fair value

The following table presents the changes in the fair value of warrant liabilities:


	Private Placement			Level		Public			Level		Warrant Liabilities
Fair value as of December 31, 2020	$	25,013,332				$	40,633,332				$	65,646,664
Change in valuation inputs or other assumptions		(5,413,333	)		3		(8,740,000	)		1		(14,153,333	)

Fair value as of March 31, 2021	$	19,599,999				$	31,893,332				$	51,493,331

The following table presents the changes in the fair value of warrant liabilities:


	Private Placement		Level		Public		Level		Warrant Liabilities
Fair value as of July 8, 2020	$	—			$	—			$	—
Initial measurement on October 2, 2020		10,920,000		3		17,940,000		3		28,860,000
Change in valuation inputs or other assumptions		14,093,332		3		22,693,332		1		36,786,664

Fair value as of December 31, 2020	$	25,013,332			$	40,633,332			$	65,646,664

PRIOR PERIODS' FINANCIAL STATEMENT REVISION (Tables)

3 Months Ended

Mar. 31, 2021

Accounting Changes and Error Corrections [Abstract]

Schedule of error correction and prior period adjustment


	As Previously Reported			Adjustments			As Revised
Balance sheet as of December 31, 2020 (audited)
Commitments
Number of Class A common shares at redemption value		37,648,795			8,351,205			46,000,000
Class A common stock subject to possible redemption	$	376,489,130		$	83,512,311		$	460,001,441
Stockholders’ Equity
Number of Class A common shares issued and outstanding		8,351,205			(8,351,205	)		—
Class A common shares	$	835		$	(835	)	$	—
Additional paid-in capital		43,911,821			(40,807,971	)		3,103,850
Accumulated deficit		(38,913,797	)		(42,703,505	)		(81,617,302	)
Total stockholders’ equity		5,000,009			(83,512,311	)		(78,512,302	)

Statement of operations for the period from July 8, 2020 (inception) through December 31, 2020 (as Restated)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption		41,438,497			1,165,717			42,604,214
Weighted average shares outstanding, basic and diluted		13,388,418			(651,643	)		12,736,775
Basic and diluted net loss per common share	$	(2.91	)	$	(0.15	)	$	(3.06	)

Statement of changes in stockholders’ equity for the period from July 8, 2020 (inception) through December 31, 2020
Class A common stock:
Shares of Class A common stock subject to possible redemption		(37,648,795	)		(8,351,205	)		(46,000,000	)
Class A common stock subject to possible redemption	$	(3,765	)	$	(835	)	$	(4,600	)
Additional Paid-in Capital:
Class A common stock subject to possible redemption		(376,485,365	)		(40,807,971	)		(417,293,336	)
Accumulated Deficit:
Net loss		(38,913,797	)		(42,703,505	)		(81,617,302	)
Total Stockholders’ Equity:
Class A common stock subject to possible redemption		(376,489,130	)		(40,808,806	)		(417,297,936	)
Net loss		(38,913,797	)		(42,703,505	)		(81,617,302	)

Revenue Recognition (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Revenue disaggregated by major product line

HydraFacial’s revenue disaggregated by major product line consists of the following for the periods indicated (in thousands):


	Three Months Ended
	March 31, 2021		March 31, 2020
Net Sales
Delivery Systems	$	25,672	$	14,081
Consumables		21,870		18,455

Total net sales	$	47,542	$	32,536

HydraFacial’s revenue disaggregated by major product line consists of the following for each of the three years in the period ended December 31, 2020:


(in thousands)	2020		2019		2018
Net Sales
Delivery Systems	$	53,372	$	81,467	$	57,067
Consumables		65,720		85,156		55,243

Total net Sales	$	119,092	$	166,623	$	112,310

Details of Certain Account Balances (Tables) - LCP Edge Intermediate, Inc. [Member]

12 Months Ended

Dec. 31, 2020

Schedule Of Prepaid Expenses

Prepaid expenses consist of the following at December 31, 2020 and 2019:


(in thousands)	2020		2019
Prepaid tradeshows	$	619	$	1,081
Prepaid insurance		11		285
Prepaid inventory		1,086		386
Other prepaid expenses		1,504		1,957

Total prepaid expenses	$	3,220	$	3,709

Schedule of Other Accrued Expenses

Other accrued expenses consisted of the following at December 31, 2020 and 2019:


(in thousands)	2020		2019
Sales tax payable	$	1,539	$	1,336
Deferred rent and leases payable		461		422
Other		458		1,188

Total other accrued expenses	$	2,458	$	2,946

Inventories (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Inventories

Inventories consist of the following as of the periods indicated (in thousands):


	March 31, 2021		December 31, 2020
Raw materials	$	9,531	$	9,335
Finished goods		12,239		13,867

Total inventories	$	21,770	$	23,202

Inventories consist of the following at December 31, 2020 and 2019:


(in thousands)	2020		2019
Raw materials	$	9,335	$	6,533
Work-in-progress		—		176
Finished goods		13,867		12,726

Total inventories	$	23,202	$	19,435

Property and Equipment, net (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Schedule of Property, Plant, and Equipment

Property and equipment consist of the following as of the periods indicated (in thousands):


	Useful life (years)		March 31, 2021			December 31, 2020
Furniture and fixtures		2-7	$	3,225		$	3,265
Computers and equipment		3-5		3,630			3,502
Autos and trucks		5		454			413
Tooling		5		1,150			1,150
Leasehold improvements		Shorter of remaining lease term or estimated useful life		4,443			4,097

Total Property and equipment				12,902			12,427

Less: accumulated depreciation and amortization				(5,023	)		(4,407	)
Construction-in-progress				267			1,171

Property and equipment, net			$	8,146		$	9,191

Property and equipment consist of the following at December 31, 2020 and 2019:


(in thousands)	Useful life (years)	2020			2019
Furniture and fixtures	2-7	$	3,265		$	2,542
Computers and equipment	3-5		3,502			2,755
Autos and trucks	5		413			308
Tooling	5		1,150			1,145
Leasehold improvements	Shorter of remaining lease term or estimated useful life		4,097			3,692

Total Property and equipment			12,427			10,442

Less: accumulated depreciation and amortization			(4,407	)		(2,237	)
Construction-in-progress			1,171			2,595

Property and equipment, net		$	9,191		$	10,800

Goodwill and Intangible Assets, net (Tables) - LCP Edge Intermediate, Inc. [Member]

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Schedule of Intangible Assets

The gross carrying amount and accumulated amortization of HydraFacial’s intangible assets, net, as of March 31, 2021 were as follows (in thousands):


	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Estimated Useful Life (Years)
Trademarks	$	9,480	$	(2,934	)	$	6,546		15
Customer relationships		6,016		(2,455	)		3,561		5-10
Developed technology		70,900		(38,404	)		32,496		8
Patents		1,596		(173	)		1,423		4-19
Capitalized Software		8,208		(1,980	)		6,228		3-5

Total intangible assets	$	96,200	$	(45,946	)	$	50,254

The gross carrying amount and accumulated amortization of HydraFacial’s intangible assets, net, as of December 31, 2020 were as follows (in thousands):


	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Estimated Useful Life (Years)
Trademarks	$	9,480	$	(2,765	)	$	6,715		15
Customer relationships		6,003		(2,263	)		3,740		5-10
Developed technology		70,900		(36,189	)		34,711		8
Patents		1,423		(158	)		1,265		4-19
Capitalized Software		6,172		(1,668	)		4,504		3-5

Total intangible assets	$	93,978	$	(43,043	)	$	50,935

The gross carrying amount and accumulated amortization of HydraFacial’s intangible assets, net, as of December 31, 2020 were as follows:


(in thousands)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Estimated Useful Life (Years)
Trademarks	$	9,480	$	(2,765	)	$	6,715		15
Customer relationships		6,003		(2,263	)		3,740		5-10
Developed technology		70,900		(36,189	)		34,711		8
Patents		1,423		(158	)		1,265		4-19
Capitalized Software		6,172		(1,668	)		4,504		3-5

Total intangible assets	$	93,978	$	(43,043	)	$	50,935

The gross carrying amount and accumulated amortization of HydraFacial’s intangible assets, net, as of December 31, 2019 were as follows:


(in thousands)	Gross Carrying Value		Accumulated Amortization			Net Carrying Value		Estimated Useful Life (Years)
Trademarks	$	9,480	$	(2,088	)	$	7,392		15
Customer relationships		5,958		(1,642	)		4,316		5-10
Developed technology		70,900		(27,326	)		43,574		8
Patents		4,633		(2,617	)		2,016		4-19
Capitalized Software		3,572		(577	)		2,995		3-5

Total intangible assets	$	94,543	$	(34,250	)	$	60,293

Schedule of Goodwill

The changes in the carrying value of goodwill for the years ended December 31, 2020 and 2019 are as follows:


(in thousands)	Amount
December 31, 2018	$	98,147

Acquisition of Consultingroom.com		347
Foreign currency translation impact		26

December 31, 2019	$	98,520

Foreign currency translation impact		11

December 31, 2020	$	98,531

Schedule of future amortization expense

The following table shows the expected future amortization expense for intangible assets at December 31, 2020:


(in thousands)	Expected Future Amortization Expense
2021		11,588
2022		11,529
2023		11,529
2024		10,232
2025		1,132
Thereafter		4,925

Total	$	50,935

Long-Term Debt (Tables) - LCP Edge Intermediate, Inc. [Member]

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Schedule of Long-term debt

HydraFacial’s long-term debt consists of the following as of the periods indicated (in thousands):


	March 31, 2021			December 31, 2020
Revolver	$	5,000		$	—
Current portion of Term Loan		1,772			1,772
Current portion of deferred financing costs		(1,575	)		(1,260	)

Current portion of long-term debt, net		5,197			512
Term Loan, net of current portion		184,661			184,175
Term A Loan		34,648			33,395
Long-term portion of deferred financing costs		(837	)		(1,546	)

Long-term debt, net		218,472			216,024

Total debt, net	$	223,669		$	216,536

HydraFacial’s long-term debt consists of the following at December 31, 2020 and 2019:


(in thousands)	2020			2019
Revolver	$	—		$	8,500
Current portion of Term Loan		1,772			1,772
Current portion of deferred financing costs		(1,260	)		(1,345	)

Current portion of long-term debt, net		512			8,927
Term Loan, net of current portion		184,175			183,222
Term A Loan		33,395			—
Long-term portion of deferred financing costs		(1,546	)		(2,372	)

Long-term debt, net		216,024			180,850

Total debt, net	$	216,536		$	189,777

Scheduled debt principal payment

Scheduled payments of principal on Hydrafacial’s long-term debt, excluding deferred financing costs for the future years ending December 31, are as follows:


(in thousands)	Scheduled Payments
2021	$	1,772
2022		184,175
2023		33,395
2024		—
2025		—

Total	$	219,342

Equity-Based Compensation (Tables) - LCP Edge Intermediate, Inc. [Member]

12 Months Ended

Dec. 31, 2020

Time Vesting Options [Member]

Summary of Non-vested incentive plan

A summary of non-vested Time Vesting Units activity is as follows for the year ended December 31, 2020:


	Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2019		—		$	—
Granted		1,473			373.88
Forfeited		(174	)		261.98
Vested		(926	)		271.51

Outstanding at December 31, 2020		373		$	680.62

Performance Vesting Options [Member]

Summary of Non-vested incentive plan

A summary of non-vested Performance Vesting Units activity is as follows for the year ended December 31, 2020:


	Shares			Weighted Average Grant Date Fair Value
Outstanding at December 31, 2019		—		$	—
Granted		4,973			252.77
Forfeited		(940	)		153.45

Outstanding at December 31, 2020		4,033		$	275.85

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Schedule of Future Minimum Rental Payments for Operating Leases

Minimum payments under non-cancelable operating leases for future years ending December 31, are as follows:


	Related Party		Unrelated Party		Total
2021	$	448		2,169		2,617
2022		189		2,243		2,432
2023		—		2,114		2,114
2024		—		2,048		2,048
2025		—		669		669

Total	$	637	$	9,243	$	9,880

Concentrations (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Schedule of Purchases from Major Suppliers

Purchases from major suppliers amount to as follows for the periods indicated (in thousands):


	Three Months Ended March 31, 2021
	Amount		% of Total Purchases
Supplier A	$	1,803		28.3	%
Supplier B		1,119		17.6
Supplier C		681		10.7

Total	$	3,603		56.6	%

Purchases from major suppliers amount to as follows for the periods indicated (in thousands):


	Three Months Ended March 31, 2020
	Amount		% of Total Purchases
Supplier A	$	2,275		22.4	%
Supplier B		1,152		11.4
Supplier C		1,025		10.1

Total	$	4,452		43.9	%

Purchases from major suppliers amount to as follows for the year ended December 31, 2020:


	2020
(in thousands)	Amount		% of Total Purchases
Supplier A	$	6,195		21	%
Supplier B		4,908		16

Total	$	11,103		37	%

Included in Accounts payable on the Consolidated Balance Sheets at December 31, 2020, was $1.0 million payable to these vendors.

Purchases from major suppliers amount to as follows for the year ended December 31, 2019:


	2019
(in thousands)	Amount		% of Total Purchases
Supplier A	$	6,077		17	%
Supplier B		4,173		12
Supplier C		4,101		12

Total	$	14,351		41	%

RELATED PARTY TRANSACTIONS (Tables) - LCP Edge Intermediate, Inc. [Member]

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

Schedule of Outstanding Note Receivable

As of December 31, 2020 and 2019, the outstanding note receivable amounts were as follows:


(in thousands)	2020		2019
Note receivable from stockholder	$	554	$	554

Sales for this related party and the outstanding accounts receivable balance are as follows for the periods indicated (in thousands):


	Three Months Ended
	March 31, 2021		March 31, 2020
Sales to related party	$	100	$	96
Accounts receivable	$	322	$	75


(in thousands)	2020		2019		2018
Sales to related party	$	337	$	351	$	183
Accounts receivable	$	250	$	122	$	51

Business Acquisition (Tables)

12 Months Ended

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Summary of Estimated Fair Values Assigned to Assets

The following table summarizes the estimated fair values assigned to the assets acquired at the date of acquisition:


(in thousands)	Estimated Fair Value
Inventory	$	1,193
Property and equipment		23
Intangible assets		1,359

Net assets acquired	$	2,575
Goodwill		347

Total consideration	$	2,922

Segment Reporting (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Summary of Business Sales Segmentation

Net sales by geographic region were as follows for the periods indicated (in thousands):


	Three Months Ended
	March 31, 2021		March 31, 2020
Americas	$	31,280	$	23,913
EMEA		7,471		6,888
Asia Pacific		8,791		1,735

Total net sales	$	47,542	$	32,536

For each of the three years in the period ended December 31, 2020, net sales by geographic region were as follows:


(in thousands)	2020		2019		2018
Americas	$	81,453	$	122,396	$	88,689
EMEA		23,175		28,425		17,358
Asia Pacific		14,464		15,802		6,263

Total net sales	$	119,092	$	166,623	$	112,310

Net Loss Attributable to Common Shareholders (Tables)

3 Months Ended

12 Months Ended

Mar. 31, 2021

Dec. 31, 2020

LCP Edge Intermediate, Inc. [Member]

Schedule of Potentially Dilutive Shares Not Included in Calculation of Diluted Shares Outstanding

The following potentially dilutive shares were not included in the calculation of diluted shares outstanding as the effect would have been anti-dilutive for the periods indicated:


	Three Months Ended
	March 31, 2021		March 31, 2020
Stock Options		—		1,509


	2020		2019		2018
Stock Options		542		1,509		1,473

Description of Organization and Business Operations (Detail) - USD ($)			1 Months Ended	3 Months Ended	6 Months Ended
	May 04, 2021	Oct. 02, 2020	Oct. 02, 2020	Mar. 31, 2021	Dec. 31, 2020
Description of Organization and Business Operations (Details) [Line Items]
Proceeds from issuance of private placement					$ 14,000,000
Offering costs allocated to warrant liability					$ 1,015,795
Aggregate fair market value least percentage					80.00%
Business acquisition percentage					50.00%
Public shares price per share (in Dollars per share)					$ 10.00
Minimum net tangible assets to required business combination					$ 5,000,001
Redemption percentage					15.00%
Interest to pay dissolution expenses			$ 100,000
Business combination, description					the Company has discussed entering into a transaction agreement, reduce the amount of funds in the Trust Account to below (1) $10.00 per Public Share or (2) the actual amount per Public Share held in the Trust Account as of the date of the liquidation of the Trust Account due to reductions in the value of the trust assets, in each case net of the interest which may be withdrawn to pay our taxes. This liability will not apply with respect to any claims by a third party who executed a waiver of any and all rights to seek access to the Trust Account and will not apply to any claims under the Company’s indemnity of the underwriters of the Initial Public Offering against certain liabilities, including liabilities under the Securities Act of 1933, as amended (the “Securities Act”). Moreover, in the event that an executed waiver is deemed to be unenforceable against a third party, the Sponsor will not be responsible to the extent of any liability for such third-party claims. The Company will seek to reduce the possibility that the Sponsor will have to indemnify the Trust Account due to claims of creditors by endeavoring to have all vendors, service providers (except the Company’s independent registered public accounting firm), prospective target businesses or other entities with which the Company does business, execute agreements with the Company waiving any right, title, interest or claim of any kind in or to monies held in the Trust Account.
Agreement, description					Pursuant to the Merger Agreement, the aggregate merger consideration payable to the stockholders of HydraFacial will be paid in a combination of stock and cash equal to $975,000,000, subject to adjustments, (the “Merger Consideration”). The cash consideration will be an amount equal to the Company’s cash and cash equivalents as of the Closing (including proceeds in connection with the Private Placement and the funds in the Company’s Trust Account), minus HydraFacial’s outstanding indebtedness at the closing, minus transaction expenses of HydraFacial and the Company, minus $100,000,000. However, cash consideration, together with certain contractual fee payments, will be subject to a maximum of 60% of the aggregate Merger Consideration. The remainder of the Merger Consideration will be paid in a number of shares of newly issued Class A common stock of the Company (“Company Common Stock”) valued at $10.00 per share.
Proceeds from issuance of stock					$ 25,000
Cash				$ 2,753,154	3,265,075
Marketable securities held in Trust Account				460,184,400	460,098,212
Total Current Liabilities				$ 813,471	$ 765,497
Subsequent Event [Member] \| PIPE Subscription Agreement [Member] \| PIPE Investor [Member] \| PIPE Investment [Member]
Description of Organization and Business Operations (Details) [Line Items]
Proceeds from issuance of stock	$ 350,000,000
Hydra Facial [Member] \| Subsequent Event [Member]
Description of Organization and Business Operations (Details) [Line Items]
Proceeds from issuance of private placement	$ 350,000,000
Business acquisition percentage	100.00%
Business acquisition, description	(a) the merger of Merger Sub I with and into HydraFacial, with HydraFacial continuing as the surviving corporation (the “First Merger”), and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of HydraFacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”).			(a) the merger of Merger Sub I with and into HydraFacial, with HydraFacial continuing as the surviving corporation (the “First Merger”), and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of HydraFacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”).
Agreement, description	Pursuant to the terms of the Merger Agreement and customary adjustments set forth therein, the aggregate merger consideration paid to the HydraFacial Stockholders in connection with the Business Combination was approximately $975,000,000 less HydraFacial’s net indebtedness as of the Closing Date, and subject to further adjustments for transaction expenses, and net working capital relative to a target. The merger consideration included both cash consideration and consideration in the form of newly issued Class A Stock.
Aggregate merger consideration	$ 975,000,000
Aggregate cash consideration	368,000,000
Cash available in trust account	433,000,000
Amount used to repay of indebtedness	224,000,000
Transaction expenses of Hydrafacial	94,000,000
Other expenses amount	$ 100,000,000
Hydra Facial [Member] \| Subsequent Event [Member] \| First Merger [Member]
Description of Organization and Business Operations (Details) [Line Items]
Business acquisition percentage	100.00%
Hydra Facial [Member] \| Subsequent Event [Member] \| Second Merger [Member]
Description of Organization and Business Operations (Details) [Line Items]
Business acquisition percentage	100.00%
HydraFacial And Subsidiaries [Member] \| Subsequent Event [Member]
Description of Organization and Business Operations (Details) [Line Items]
Business acquisition percentage	100.00%
Sponsor [Member]
Description of Organization and Business Operations (Details) [Line Items]
Public shares redemption percentage					100.00%
Initial Public Offering [Member]
Description of Organization and Business Operations (Details) [Line Items]
Consummated sale of units (in Shares)			46,000,000
Transaction costs				$ 25,777,859	$ 25,777,859
Underwriting fees				9,200,000	9,200,000
Deferred underwriting fee				16,100,000	16,100,000
Other offering costs				$ 477,859	477,859
Stock Issued, Issuance Costs					24,762,064
Offering costs allocated to warrant liability					$ 1,015,795
Initial public offering price per unit (in Dollars per share)					$ 10.00
Price per share		$ 10.00	$ 10.00
Over-Allotment Option [Member]
Description of Organization and Business Operations (Details) [Line Items]
Consummated sale of units (in Shares)			6,000,000
Stock price per unit (in Dollars per share)		10.00	$ 10.00
Private Placement [Member]
Description of Organization and Business Operations (Details) [Line Items]
Proceeds from issuance of initial public offering			$ 460,000,000
Private Placement Warrants [Member]
Description of Organization and Business Operations (Details) [Line Items]
Consummated sale of units (in Shares)			9,333,333
Stock price per unit (in Dollars per share)		$ 1.50	$ 1.50	$ 1.50	$ 1.50
Proceeds from issuance of private placement		$ 4,800,000		$ 14,000,000	$ 14,000,000
Class A Common Stock
Description of Organization and Business Operations (Details) [Line Items]
Common stock par value (in Dollars per share)				$ 0.0001	$ 0.0001
Exercise of right to redeem shares for cash					46,000,000
Price per share		$ 11.50	$ 11.50	$ 11.50	$ 11.50
Common stock, shares outstanding				0	0
Class A Common Stock \| After Merger and PIPE Investment [Member]
Description of Organization and Business Operations (Details) [Line Items]
Common stock, shares outstanding				125,329,053
Class A Common Stock \| Subsequent Event [Member]
Description of Organization and Business Operations (Details) [Line Items]
Common stock conversion basis	one-for-one
Exercise of right to redeem shares for cash	2,672,690
Redemption price per share	$ 10.00
Payments for repurchase of stock	$ 26,737,737
Common stock, shares outstanding	125,329,053
Class A Common Stock \| Subsequent Event [Member] \| PIPE Subscription Agreement [Member] \| PIPE Investor [Member]
Description of Organization and Business Operations (Details) [Line Items]
Stock price per unit (in Dollars per share)	$ 10.00
Class A Common Stock \| Hydra Facial [Member] \| Subsequent Event [Member]
Description of Organization and Business Operations (Details) [Line Items]
Stock consideration	35,501,743
Class A Common Stock \| HydraFacial And Subsidiaries [Member] \| Subsequent Event [Member]
Description of Organization and Business Operations (Details) [Line Items]
Common stock par value (in Dollars per share)	$ 0.0001
Class A Common Stock \| Initial Public Offering [Member]
Description of Organization and Business Operations (Details) [Line Items]
Consummated sale of units (in Shares)			46,000,000
Class A Common Stock \| Private Placement [Member] \| Hydra Facial [Member] \| Subsequent Event [Member]
Description of Organization and Business Operations (Details) [Line Items]
Stock issued during period shares new shares	35,000,000
Earn Out Shares of Class A Common Stock [Member] \| Hydra Facial [Member] \| Subsequent Event [Member]
Description of Organization and Business Operations (Details) [Line Items]
Increase in foregoing consideration payment	$ 75,000,000
PIPE Shares [Member] \| Subsequent Event [Member] \| PIPE Subscription Agreement [Member] \| PIPE Investor [Member]
Description of Organization and Business Operations (Details) [Line Items]
Stock issued during period shares new shares	35,000,000
Price per share	$ 10.00

Restatement of Previously Issued Financial Statements (Detail)	Dec. 31, 2020
Restatement Of Previously Issued Financial Statements [Abstract]
Percent of exchange offer made to and accepted by holders	50.00%

Restatement of Previously Issued Financial Statements - Summary of Effect of the Restatement on Each Financial Statement (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Oct. 02, 2020	Jul. 07, 2020
Balance sheet
Warrant liability	$ 51,493,331	$ 65,646,664
Additional paid-in capital	3,103,850	3,103,850
Accumulated deficit	(68,016,288)	(81,617,302)
Shareholders' Equity	(64,911,288)	(78,512,302)		$ 0
Income Statement [Abstract]
Change in fair value of warrant liability	14,153,333	(36,786,664)
Offering costs allocated to warrant liability		(1,015,795)
Net loss	$ 13,637,202	$ (81,617,302)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)	46,000,000	42,604,214
Basic and diluted net loss per common share, common stock subject to possible redemption	$ 0.00	$ 0.00
Basic and diluted weighted average shares outstanding, non-redeemable common stock	11,500,000	12,736,775
Basic and diluted net loss per common share, non-redeemable common stock	$ 1.18	$ (3.06)
Cash Flows from Operating Activities:
Net loss	$ 13,637,202	$ (81,617,302)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of warrant liabilities	(14,153,333)	36,786,664
Non-Cash Investing and Financing Activities:
Initial measurement of warrants issued in connection with the Initial Public Offering accounted for as liabilities		28,860,000
Statement of changes in stockholders' equity
Net loss	13,637,202	(81,617,302)
Sale of 46,000,000 Units, net of underwriting discounts		417,297,936
Contribution in excess of fair value of Private Placement Warrants		3,080,000
Class A common stock subject to possible redemption	(36,188)	(417,297,936)
Additional Paid-in Capital
Balance sheet
Shareholders' Equity	3,103,850	3,103,850		0
Statement of changes in stockholders' equity
Sale of 46,000,000 Units, net of underwriting discounts		417,293,336
Contribution in excess of fair value of Private Placement Warrants		3,080,000
Class A common stock subject to possible redemption		(417,293,336)
Accumulated Deficit
Balance sheet
Shareholders' Equity	(68,016,288)	(81,617,302)		0
Income Statement [Abstract]
Net loss	13,637,202	(81,617,302)
Cash Flows from Operating Activities:
Net loss	13,637,202	(81,617,302)
Statement of changes in stockholders' equity
Net loss	13,637,202	$ (81,617,302)
Class A common stock subject to possible redemption	$ (36,188)
Class A Common Stock
Balance sheet
Shareholders' Equity				$ 0
Statement of changes in stockholders' equity
Shares of Class A common stock subject to possible redemption		(46,000,000)
Sale of 46,000,000 Units, net of underwriting discounts		$ 4,600
Class A common stock subject to possible redemption		(4,600)
Previously Reported [Member]
Balance sheet
Additional paid-in capital		43,911,821
Accumulated deficit		(38,913,797)
Shareholders' Equity		5,000,009
Income Statement [Abstract]
Net loss		$ (38,913,797)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)		41,438,497
Basic and diluted weighted average shares outstanding, non-redeemable common stock		13,388,418
Basic and diluted net loss per common share, non-redeemable common stock		$ (2.91)
Cash Flows from Operating Activities:
Net loss		$ (38,913,797)
Statement of changes in stockholders' equity
Net loss		(38,913,797)
Class A common stock subject to possible redemption		(376,489,130)
Previously Reported [Member] \| Additional Paid-in Capital
Balance sheet
Shareholders' Equity		43,911,821
Statement of changes in stockholders' equity
Class A common stock subject to possible redemption		(376,485,365)
Previously Reported [Member] \| Accumulated Deficit
Balance sheet
Shareholders' Equity		(38,913,797)
Income Statement [Abstract]
Net loss		(38,913,797)
Cash Flows from Operating Activities:
Net loss		(38,913,797)
Statement of changes in stockholders' equity
Net loss		(38,913,797)
Previously Reported [Member] \| Class A Common Stock
Balance sheet
Common stock value		835
Shareholders' Equity		$ 835
Statement of changes in stockholders' equity
Shares of Class A common stock subject to possible redemption		(37,648,795)
Class A common stock subject to possible redemption		$ (3,765)
Adjustments [Member]
Balance sheet
Additional paid-in capital		(40,807,971)
Accumulated deficit		(42,703,505)
Shareholders' Equity		(83,512,311)
Income Statement [Abstract]
Net loss		$ (42,703,505)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)		1,165,717
Basic and diluted weighted average shares outstanding, non-redeemable common stock		(651,643)
Basic and diluted net loss per common share, non-redeemable common stock		$ (0.15)
Cash Flows from Operating Activities:
Net loss		$ (42,703,505)
Statement of changes in stockholders' equity
Net loss		(42,703,505)
Class A common stock subject to possible redemption		(40,808,806)
Adjustments [Member] \| Additional Paid-in Capital
Statement of changes in stockholders' equity
Class A common stock subject to possible redemption		(40,807,971)
Adjustments [Member] \| Accumulated Deficit
Income Statement [Abstract]
Net loss		(42,703,505)
Cash Flows from Operating Activities:
Net loss		(42,703,505)
Statement of changes in stockholders' equity
Net loss		(42,703,505)
Adjustments [Member] \| Class A Common Stock
Balance sheet
Common stock value		$ (835)
Statement of changes in stockholders' equity
Shares of Class A common stock subject to possible redemption		(8,351,205)
Class A common stock subject to possible redemption		$ (835)
Reported On Prior Period Financial Statement [Member] \| Previously Reported [Member]
Balance sheet
Common Shares Subject to Possible Redemption		442,135,795	$ 443,244,970
Additional paid-in capital		6,110,017	5,000,853
Accumulated deficit		(1,111,338)	(2,163)
Shareholders' Equity		5,000,008
Income Statement [Abstract]
Net loss		$ (1,111,338)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)		44,324,497
Basic and diluted net loss per common share, common stock subject to possible redemption		$ 0
Basic and diluted weighted average shares outstanding, non-redeemable common stock		11,775,126
Basic and diluted net loss per common share, non-redeemable common stock		$ (0.09)
Cash Flows from Operating Activities:
Net loss		$ (1,111,338)
Statement of changes in stockholders' equity
Net loss		(1,111,338)
Sale of 46,000,000 Units, net of underwriting discounts		434,222,141
Sale of 9,333,333 Private Placement Warrants		14,000,000
Class A common stock subject to possible redemption		(442,135,795)
Reported On Prior Period Financial Statement [Member] \| Previously Reported [Member] \| Additional Paid-in Capital
Statement of changes in stockholders' equity
Sale of 46,000,000 Units, net of underwriting discounts		434,217,541
Sale of 9,333,333 Private Placement Warrants		14,000,000
Class A common stock subject to possible redemption		(442,131,374)
Reported On Prior Period Financial Statement [Member] \| Previously Reported [Member] \| Accumulated Deficit
Income Statement [Abstract]
Net loss		(1,111,338)
Cash Flows from Operating Activities:
Net loss		(1,111,338)
Statement of changes in stockholders' equity
Net loss		(1,111,338)
Reported On Prior Period Financial Statement [Member] \| Previously Reported [Member] \| Class A Common Stock
Balance sheet
Common stock value		$ 179	168
Statement of changes in stockholders' equity
Shares of Class A common stock subject to possible redemption		(44,213,441)
Class A common stock subject to possible redemption		$ (4,421)
Reported On Prior Period Financial Statement [Member] \| Adjustments [Member]
Balance sheet
Warrant liability		65,646,664	28,860,000
Common Shares Subject to Possible Redemption		(65,646,665)	(28,860,000)
Additional paid-in capital		37,801,804	1,015,507
Accumulated deficit		(37,802,459)	(1,015,795)
Shareholders' Equity		1
Income Statement [Abstract]
Change in fair value of warrant liability		(36,786,664)
Offering costs allocated to warrant liability		(1,015,795)
Net loss		$ (37,802,459)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)		(2,886,000)
Basic and diluted net loss per common share, common stock subject to possible redemption		$ 0
Basic and diluted weighted average shares outstanding, non-redeemable common stock		1,613,292
Basic and diluted net loss per common share, non-redeemable common stock		$ (2.82)
Cash Flows from Operating Activities:
Net loss		$ (37,802,459)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of warrant liabilities		36,786,664
Non-Cash Investing and Financing Activities:
Initial measurement of warrants issued in connection with the Initial Public Offering accounted for as liabilities		28,860,000
Statement of changes in stockholders' equity
Net loss		(37,802,459)
Sale of 46,000,000 Units, net of underwriting discounts		(16,924,205)
Contribution in excess of fair value of Private Placement Warrants		3,080,000
Sale of 9,333,333 Private Placement Warrants		(14,000,000)
Class A common stock subject to possible redemption		65,646,665
Reported On Prior Period Financial Statement [Member] \| Adjustments [Member] \| Additional Paid-in Capital
Statement of changes in stockholders' equity
Sale of 46,000,000 Units, net of underwriting discounts		(16,924,205)
Contribution in excess of fair value of Private Placement Warrants		3,080,000
Sale of 9,333,333 Private Placement Warrants		(14,000,000)
Class A common stock subject to possible redemption		65,646,009
Reported On Prior Period Financial Statement [Member] \| Adjustments [Member] \| Accumulated Deficit
Income Statement [Abstract]
Net loss		(37,802,459)
Cash Flows from Operating Activities:
Net loss		(37,802,459)
Statement of changes in stockholders' equity
Net loss		(37,802,459)
Reported On Prior Period Financial Statement [Member] \| Adjustments [Member] \| Class A Common Stock
Balance sheet
Common stock value		$ 656	288
Statement of changes in stockholders' equity
Shares of Class A common stock subject to possible redemption		6,564,646
Class A common stock subject to possible redemption		$ 656
Reported On Prior Period Financial Statement [Member] \| Restated [Member]
Balance sheet
Warrant liability		65,646,664	28,860,000
Common Shares Subject to Possible Redemption		376,489,130	414,384,970
Additional paid-in capital		43,911,821	6,016,360
Accumulated deficit		(38,913,797)	(1,017,958)
Shareholders' Equity		5,000,009
Income Statement [Abstract]
Change in fair value of warrant liability		(36,786,664)
Offering costs allocated to warrant liability		(1,015,795)
Net loss		$ (38,913,797)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption (in Shares)		41,438,497
Basic and diluted net loss per common share, common stock subject to possible redemption		$ 0
Basic and diluted weighted average shares outstanding, non-redeemable common stock		13,388,418
Basic and diluted net loss per common share, non-redeemable common stock		$ (2.91)
Cash Flows from Operating Activities:
Net loss		$ (38,913,797)
Adjustments to reconcile net loss to net cash used in operating activities:
Change in fair value of warrant liabilities		36,786,664
Non-Cash Investing and Financing Activities:
Initial measurement of warrants issued in connection with the Initial Public Offering accounted for as liabilities		28,860,000
Statement of changes in stockholders' equity
Net loss		(38,913,797)
Sale of 46,000,000 Units, net of underwriting discounts		417,297,936
Contribution in excess of fair value of Private Placement Warrants		3,080,000
Class A common stock subject to possible redemption		(376,489,130)
Reported On Prior Period Financial Statement [Member] \| Restated [Member] \| Additional Paid-in Capital
Statement of changes in stockholders' equity
Sale of 46,000,000 Units, net of underwriting discounts		417,293,336
Contribution in excess of fair value of Private Placement Warrants		3,080,000
Class A common stock subject to possible redemption		(376,485,365)
Reported On Prior Period Financial Statement [Member] \| Restated [Member] \| Accumulated Deficit
Income Statement [Abstract]
Net loss		(38,913,797)
Cash Flows from Operating Activities:
Net loss		(38,913,797)
Statement of changes in stockholders' equity
Net loss		(38,913,797)
Reported On Prior Period Financial Statement [Member] \| Restated [Member] \| Class A Common Stock
Balance sheet
Common stock value		$ 835	$ 456
Statement of changes in stockholders' equity
Shares of Class A common stock subject to possible redemption		(37,648,795)
Class A common stock subject to possible redemption		$ (3,765)

Restatement of Previously Issued Financial Statements - Summary of Effect of the Restatement on Each Financial Statement (Parenthetical) (Detail) - Reported On Prior Period Financial Statement [Member]	6 Months Ended
	Dec. 31, 2020 shares
Disclosure of Effect Of The Restatement On Each Financial Statement [Line Items]
Sale of Units, net of underwriting discounts	46,000,000
Sale of Private Placement Warrants	9,333,333
Additional Paid-in Capital
Disclosure of Effect Of The Restatement On Each Financial Statement [Line Items]
Sale of Units, net of underwriting discounts	46,000,000
Sale of Private Placement Warrants	9,333,333

Summary of Significant Accounting Policies (Detail) - USD ($)	3 Months Ended	6 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Mar. 31, 2020
Subsidiary, Sale of Stock [Line Items]
Offering costs allocated to warrant liability		$ 1,015,795
Effect of warrants sold in initial public offering and private placement to purchase shares of common stock	24,666,666	24,666,666
Federal depository insurance coverage	$ 250,000	$ 250,000	$ 250,000
Initial Public Offering [Member]
Subsidiary, Sale of Stock [Line Items]
Transaction costs	25,777,859	25,777,859
Underwriting fees	9,200,000	9,200,000
Deferred underwriting fee	16,100,000	16,100,000
Other offering costs	477,859	477,859
Stock Issued, Issuance Costs		24,762,064
Offering costs allocated to warrant liability		1,015,795
LCP Edge Intermediate, Inc. [Member]
Subsidiary, Sale of Stock [Line Items]
Property and equipment, estimated useful lives description			Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to seven years.
Amortization method for capitalized software			Capitalized software is stated at cost less accumulated amortization. Amortization is computed using the straight-line method over the estimated useful lives of the assets, generally three to five years.
Impairment loss long-lived assets			$ 0
Deferred capitalized costs		2,400,000	2,400,000
Unrecognized tax benefits	$ 100,000	$ 270,000	$ 270,000	$ 0		$ 0
Minimum percentage of Likely hood of tax benefit being realized upon settlement			HydraFacial recognizes the largest amount of tax benefit that is more than 50 percent likely to be realized upon ultimate settlement with the related tax authority.
Payment term for revenue recognition			Revenue is recognized at a point in time when control of the products are transferred to the customer. Typical payment terms provide that HydraFacial's customers pay within 30 to 120 days of the invoice.
LCP Edge Intermediate, Inc. [Member] \| Revenue Benchmark [Member] \| Customer Concentration Risk [Member]
Subsidiary, Sale of Stock [Line Items]
Customer concentration			One customer representing greater than 10% of HydraFacial's receivables
Concentration risk, percentage			10.00%
LCP Edge Intermediate, Inc. [Member] \| Accounts Receivable [Member]
Subsidiary, Sale of Stock [Line Items]
Concentration risk, percentage			10.50%
LCP Edge Intermediate, Inc. [Member] \| Accounts Receivable [Member] \| Customer Concentration Risk [Member]
Subsidiary, Sale of Stock [Line Items]
Customer concentration				No customers representing greater than 10% of HydraFacial's receivables
Concentration risk, percentage				10.00%	10.00%
LCP Edge Intermediate, Inc. [Member] \| Selling and Marketing Expense [Member]
Subsidiary, Sale of Stock [Line Items]
Advertising cost			$ 2,900,000	$ 4,700,000	$ 3,300,000
LCP Edge Intermediate, Inc. [Member] \| Shipping and Handling [Member]
Subsidiary, Sale of Stock [Line Items]
Cost of sales			$ 3,000,000	$ 3,400,000	$ 1,800,000

Summary of Significant Accounting Policies - Schedule of basic and diluted loss per common share (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Numerator: Earnings allocable to Common stock subject to possible redemption
Interest earned on marketable securities held in Trust Account	$ 72,209	$ 73,770
Unrealized gain on marketable securities held in Trust Account	878	6,617
Less: Company's portion available to pay taxes	(42,400)	(79,207)
Net Income allocable to shares subject to redemption	$ 30,687	$ 1,180
Denominator: Weighted Average Class A common stock subject to possible redemption
Basic and diluted weighted average shares outstanding	46,000,000	42,604,214
Basic and diluted net income per share	$ 0.00	$ 0.00
Numerator: Net income minus Net Earnings
Net income (loss)	$ 13,637,202	$ (81,617,302)
Less: Net income allocable to Class A common stock subject to possible redemption	(30,687)	(1,180)
Non-Redeemable Net Income	$ 13,606,515	$ (38,914,977)
Denominator: Weighted Average Non-Redeemable Common Stock
Basic and diluted weighted average shares outstanding	11,500,000	12,736,775
Basic and diluted net income per share	$ 1.18	$ (3.06)
Previously Reported [Member]
Denominator: Weighted Average Class A common stock subject to possible redemption
Basic and diluted weighted average shares outstanding		41,438,497
Numerator: Net income minus Net Earnings
Net income (loss)		$ (38,913,797)
Denominator: Weighted Average Non-Redeemable Common Stock
Basic and diluted weighted average shares outstanding		13,388,418
Basic and diluted net income per share		$ (2.91)

Initial Public Offering (Detail) - $ / shares	1 Months Ended
Initial Public Offering (Detail) - $ / shares	Oct. 02, 2020	Mar. 31, 2021	Dec. 31, 2020
Initial Public Offering [Member]
Initial Public Offering (Details) [Line Items]
Sale of stock units	46,000,000
Additional purchase units	6,000,000
Sale price per unit	$ 10.00
Class A Common Stock
Initial Public Offering (Details) [Line Items]
Additional purchase units	1
Sale price per unit	$ 11.50	$ 11.50	$ 11.50
Public warrants common stock exercise price per share	$ 11.50
Class A Common Stock \| Initial Public Offering [Member]
Initial Public Offering (Details) [Line Items]
Sale of stock units	46,000,000

Private Placement (Detail) - USD ($)		3 Months Ended	6 Months Ended
Private Placement (Detail) - USD ($)	Oct. 02, 2020	Mar. 31, 2021	Dec. 31, 2020
Private Placement (Details) [Line Items]
Aggregate purchase price amount (in Dollars)			$ 14,000,000
Contribution in excess of fair value of Private Placement Warrants			$ 3,080,000
Private Placement Warrants [Member]
Private Placement (Details) [Line Items]
Aggregate purchase (in Shares)		9,333,333	9,333,333
Warrant price	$ 1.50	$ 1.50	$ 1.50
Aggregate purchase price amount (in Dollars)	$ 4,800,000	$ 14,000,000	$ 14,000,000
Fair value per warrant			$ 1.17
Contribution in excess of fair value of Private Placement Warrants			$ 3,080,000
Class A Common Stock
Private Placement (Details) [Line Items]
Price per share	$ 11.50	$ 11.50	$ 11.50

Related Party Transactions - Additional Information (Detail) - USD ($)				1 Months Ended			3 Months Ended		6 Months Ended	12 Months Ended
	Oct. 02, 2020	Aug. 05, 2020	Apr. 10, 2020	Oct. 06, 2020	Sep. 30, 2020	Aug. 31, 2019	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2016	Jul. 23, 2020
Related Party Transactions (Details) [Line Items]
Ownership percentage		20.00%
Founder shares, description							The Sponsor has agreed that, subject to certain limited exceptions, the Founder Shares will not be transferred, assigned, sold or released from escrow until the earlier of (A) one year after the completion of a Business Combination or (B) the date subsequent to the Company’s initial Business Combination on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property. Notwithstanding the foregoing, if the last reported sale price of the shares of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination, the converted Class A common stock will be released from the lock-up.		The Sponsor has agreed that, subject to certain limited exceptions, the Founder Shares will not be transferred, assigned, sold or released from escrow until the earlier of (A) one year after the completion of a Business Combination or (B) the date subsequent to the Company’s initial Business Combination on which the Company completes a liquidation, merger, capital stock exchange or other similar transaction that results in all of the Company’s stockholders having the right to exchange their shares of common stock for cash, securities or other property. Notwithstanding the foregoing, if the last reported sale price of the shares of our Class A common stock equals or exceeds $12.00 per share (as adjusted for stock splits, stock capitalizations, reorganizations, recapitalizations and the like) for any 20 trading days within any 30-trading day period commencing at least 150 days after a Business Combination, the converted Class A common stock will be released from the lock-up.
Proceeds from sale of Private Placement Warrants									$ 14,000,000
Outstanding advance amount				$ 229,886
Repayment of promissory note				$ 261,386
Sponsor services fee							$ 30,000		30,000
Working capital loans							$ 1,500,000		$ 1,500,000	$ 1,500,000
Convertible warrant price per share (in Dollars per share)							$ 1.50		$ 1.50	$ 1.50
Credit facility with related party to provide for borrowings									$ 229,886
Administrative Support Agreement [Member]
Related Party Transactions (Details) [Line Items]
Sponsor services fee					$ 10,000
Private Placement Warrants [Member]
Related Party Transactions (Details) [Line Items]
Proceeds from sale of Private Placement Warrants	$ 4,800,000						$ 14,000,000		14,000,000
Initial Public Offering [Member]
Related Party Transactions (Details) [Line Items]
Aggregate principal amount														$ 300,000
LCP Edge Intermediate, Inc. [Member]
Related Party Transactions (Details) [Line Items]
Management services agreements quarterly monitoring fee							$ 100,000			$ 100,000
Related party management service agreement							Both management services agreements provide for a quarterly monitoring fee in an amount equal to the product of the (a) the greater of (x) $0.1 million and (y) 1.25% of HydraFacial's EBITDA for the twelve-month period ending on the last calendar day of the immediately preceding applicable calendar quarter, multiplied by (b) the pro rata proportion as defined in the agreement.			Both management services agreements provide for a quarterly monitoring fee in an amount equal to the product of the (a) the greater of (x) $0.1 million and (y) 1.25% of HydraFacial's EBITDA for the twelve-month period ending on the last calendar day of the immediately preceding applicable calendar quarter, multiplied by (b) the pro rata proportion as defined in the agreement.
Note receivable from stockholder													$ 600,000
Interest on note receivable													8.00%
Note receivable maturity date													Dec. 31, 2022
LCP Edge Intermediate, Inc. [Member] \| General and Administrative Expense [Member]
Related Party Transactions (Details) [Line Items]
Charges related to management services fees							$ 500,000	$ 100,000		$ 3,200,000	$ 1,800,000	$ 1,800,000
LCP Edge Intermediate, Inc. [Member] \| Minority Stockholders [Member]
Related Party Transactions (Details) [Line Items]
Lease expense							100,000	100,000
LCP Edge Intermediate, Inc. [Member] \| Accounts Payable [Member]
Related Party Transactions (Details) [Line Items]
Due to related parties							$ 500,000	$ 1,900,000	0	$ 0	0
LCP Edge Intermediate, Inc. [Member] \| Term Loans And Revolver [Member]
Related Party Transactions (Details) [Line Items]
Related party, additional term loans						$ 10,000,000
Early prepayment fee, interest							The Company is required to pay an early prepayment fee of 2.00% of the amount prepaid or repaid on the Term Loan prior to April 10, 2021, and 1.00% if prepaid between April 11, 2021 and April 10, 2022.			Additionally, the Company is required to pay an early prepayment fee of 2.00% of the amount prepaid or repaid on the Term Loan prior to April 10, 2021, and 1.00% if prepaid between April 11, 2021 and April 10, 2022.
Due to related party							$ 191,400,000		186,000,000	$ 186,000,000
LCP Edge Intermediate, Inc. [Member] \| Term Loans And Revolver [Member] \| Payment in Kind (PIK) Note [Member]
Related Party Transactions (Details) [Line Items]
Interest rate			2.00%
LCP Edge Intermediate, Inc. [Member] \| Term A Loan [Member]
Related Party Transactions (Details) [Line Items]
Due to related party							$ 34,600,000		33,400,000	$ 33,400,000
Credit facility with related party to provide for borrowings			$ 30,000,000
LCP Edge Intermediate, Inc. [Member] \| Minimum [Member]
Related Party Transactions (Details) [Line Items]
Related party transaction rate							1.00%			1.00%
LCP Edge Intermediate, Inc. [Member] \| Maximum [Member]
Related Party Transactions (Details) [Line Items]
Related party transaction rate							2.00%			2.00%
LCP Edge Intermediate, Inc. [Member] \| Receivables from Stockholder [Member]
Related Party Transactions (Details) [Line Items]
Note receivable from stockholder							$ 554,000		$ 554,000	$ 554,000	$ 554,000
Class B Common Stock \| Founder Share [Member]
Related Party Transactions (Details) [Line Items]
Aggregate of shares purchased (in Shares)		11,500,000
Aggregate purchase price		$ 25,000
Founder shares (in Shares)		1,500,000

Commitments - Additional Information (Detail) - USD ($)		3 Months Ended	6 Months Ended
Commitments - Additional Information (Detail) - USD ($)	May 04, 2021	Mar. 31, 2021	Dec. 31, 2020
Commitment And Contingencies [Line Items]
Deferred fee per unit price (in Dollars per share)			$ 0.35
Deferred fee amount			$ 16,100,000
Agreement, description			Pursuant to the Merger Agreement, the aggregate merger consideration payable to the stockholders of HydraFacial will be paid in a combination of stock and cash equal to $975,000,000, subject to adjustments, (the “Merger Consideration”). The cash consideration will be an amount equal to the Company’s cash and cash equivalents as of the Closing (including proceeds in connection with the Private Placement and the funds in the Company’s Trust Account), minus HydraFacial’s outstanding indebtedness at the closing, minus transaction expenses of HydraFacial and the Company, minus $100,000,000. However, cash consideration, together with certain contractual fee payments, will be subject to a maximum of 60% of the aggregate Merger Consideration. The remainder of the Merger Consideration will be paid in a number of shares of newly issued Class A common stock of the Company (“Company Common Stock”) valued at $10.00 per share.
Payment of common stock			$ 75,000,000
Business acquisition, percentage of voting interests			50.00%
Proceeds from issuance of private placement			$ 14,000,000
Proceeds from issuance of stock			$ 25,000
Class A Common Stock
Commitment And Contingencies [Line Items]
Common stock par value (in Dollars per share)		$ 0.0001	$ 0.0001
Exercise of right to redeem shares for cash			46,000,000
Common stock, shares outstanding		0	0
Class B Common Stock
Commitment And Contingencies [Line Items]
Common stock par value (in Dollars per share)		$ 0.0001	$ 0.0001
Stock issued during period shares new shares			11,500,000
Common stock, shares outstanding		11,500,000	11,500,000
Subsequent Event [Member] \| Class A Common Stock
Commitment And Contingencies [Line Items]
Common stock conversion basis	one-for-one
Exercise of right to redeem shares for cash	2,672,690
Redemption price per share	$ 10.00
Payments for repurchase of stock	$ 26,737,737
Common stock, shares outstanding	125,329,053
Subsequent Event [Member] \| Class A Common Stock \| PIPE Subscription Agreement [Member] \| PIPE Investor [Member]
Commitment And Contingencies [Line Items]
Share price	$ 10.00
Subsequent Event [Member] \| Class A Common Stock \| Merger Agreement [Member]
Commitment And Contingencies [Line Items]
Exercise of right to redeem shares for cash	2,672,690
Redemption price per share	$ 10.00
Payments for repurchase of stock	$ 26,737,737
Subsequent Event [Member] \| Class B Common Stock
Commitment And Contingencies [Line Items]
Common stock conversion basis	one-for-one
Subsequent Event [Member] \| PIPE Shares [Member] \| PIPE Investment [Member]
Commitment And Contingencies [Line Items]
Proceeds from issuance of stock	$ 350,000,000
Subsequent Event [Member] \| PIPE Shares [Member] \| PIPE Subscription Agreement [Member] \| PIPE Investor [Member]
Commitment And Contingencies [Line Items]
Stock issued during period shares new shares	35,000,000
Subsequent Event [Member] \| Hydra Facial [Member]
Commitment And Contingencies [Line Items]
Agreement, description	Pursuant to the terms of the Merger Agreement and customary adjustments set forth therein, the aggregate merger consideration paid to the HydraFacial Stockholders in connection with the Business Combination was approximately $975,000,000 less HydraFacial’s net indebtedness as of the Closing Date, and subject to further adjustments for transaction expenses, and net working capital relative to a target. The merger consideration included both cash consideration and consideration in the form of newly issued Class A Stock.
Business acquisition, description	(a) the merger of Merger Sub I with and into HydraFacial, with HydraFacial continuing as the surviving corporation (the “First Merger”), and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of HydraFacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”).	(a) the merger of Merger Sub I with and into HydraFacial, with HydraFacial continuing as the surviving corporation (the “First Merger”), and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of HydraFacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”).
Business acquisition, percentage of voting interests	100.00%
Aggregate merger consideration	$ 975,000,000
Aggregate cash consideration	368,000,000
Proceeds from issuance of private placement	350,000,000
Cash available in trust account	433,000,000
Amount used to repay of indebtedness	224,000,000
Transaction expenses of Hydrafacial	94,000,000
Other expenses amount	$ 100,000,000
Subsequent Event [Member] \| Hydra Facial [Member] \| Class A Common Stock
Commitment And Contingencies [Line Items]
Stock consideration	35,501,743
Subsequent Event [Member] \| Hydra Facial [Member] \| Earn Out Shares of Class A Common Stock [Member] \| Merger Agreement [Member]
Commitment And Contingencies [Line Items]
Increase in foregoing consideration payment	$ 75,000,000
Subsequent Event [Member] \| Hydra Facial [Member] \| Private Placement [Member] \| Class A Common Stock
Commitment And Contingencies [Line Items]
Stock issued during period shares new shares	35,000,000
Subsequent Event [Member] \| HydraFacial And Subsidiaries [Member]
Commitment And Contingencies [Line Items]
Business acquisition, percentage of voting interests	100.00%
Subsequent Event [Member] \| HydraFacial And Subsidiaries [Member] \| Class A Common Stock
Commitment And Contingencies [Line Items]
Common stock par value (in Dollars per share)	$ 0.0001

Stockholders' Equity - Additional Information (Detail) - USD ($)		3 Months Ended	12 Months Ended
	Aug. 24, 2018	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Oct. 31, 2016
Stockholders' Equity (Details) [Line Items]
Preferred stock authorized, number		1,000,000	1,000,000
Par value of preferred stock		$ 0.0001	$ 0.0001
Preferred stock, shares issued		0	0
Preferred stock outstanding, number		0	0
Over-Allotment Option [Member]
Stockholders' Equity (Details) [Line Items]
Aggregate conversion basis percentage		20.00%
Class A Common Stock
Stockholders' Equity (Details) [Line Items]
Common stock, shares authorized		200,000,000	200,000,000
Common stock par value (in Dollars per share)		$ 0.0001	$ 0.0001
Common stock, shares issued		0	0
Common Stock, shares, outstanding		0	0
Common stock subject to possible redemption, at redemption value		46,000,000	46,000,000
Class A Common Stock \| Restated [Member]
Stockholders' Equity (Details) [Line Items]
Common stock, shares issued			8,351,205
Common Stock, shares, outstanding			8,351,205
Common stock subject to possible redemption, at redemption value			37,648,795
Class B Common Stock
Stockholders' Equity (Details) [Line Items]
Common stock, shares authorized		20,000,000	20,000,000
Common stock par value (in Dollars per share)		$ 0.0001	$ 0.0001
Common stock, shares issued		11,500,000	11,500,000
Common Stock, shares, outstanding		11,500,000	11,500,000
LCP Edge Intermediate, Inc. [Member]
Stockholders' Equity (Details) [Line Items]
Common stock, shares authorized		60,000	60,000	60,000	60,000
Common stock par value (in Dollars per share)		$ 0.01	$ 0.01	$ 0.01
Common stock, shares issued		54,358	54,358	54,538
Common Stock, shares, outstanding		54,358	54,358	49,205
LCP Edge Intermediate, Inc. [Member] \| Common Stock
Stockholders' Equity (Details) [Line Items]
Dividends declared			$ 0
Dividends paid			$ 0
LCP Edge Intermediate, Inc. [Member] \| Class A Common Stock
Stockholders' Equity (Details) [Line Items]
Dividends paid on preferred shares	$ 13,700,000
LCP Edge Intermediate, Inc. [Member] \| Preferred Class A [Member]
Stockholders' Equity (Details) [Line Items]
Preferred stock authorized, number		1,500	1,500	1,500
Par value of preferred stock		$ 0.01	$ 0.01	$ 0.01
Preferred stock, shares issued		935	935	935
Preferred stock outstanding, number		931	931	935
Dividends on preferred stock		8.00%	8.00%
Aggregate liquidation preference on preferred stock	$ 8,465,000	$ 8,465,000	$ 8,465,000	$ 8,499,000
Per value of modified preferred liquidation preference	$ 100,000
Modified aggregate liquidation preference on preferred stock	$ 85,000,000
Modified total distribution of preferred liquidation preference amount	$ 98,700,000

Warrant Liability - Additional Information (Detail)	3 Months Ended	6 Months Ended
Warrant Liability - Additional Information (Detail)	Mar. 31, 2021	Dec. 31, 2020
Class of Warrant or Right [Line Items]
Business combination, description	In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per Class A common (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s Class A common stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates a Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $10.00 and $18.00 per share redemption trigger prices will be adjusted (to the nearest cent) to be equal to 100% and 180% of the higher of the Market Value and the Newly Issued Price, respectively.	In addition, if (x) the Company issues additional shares of Class A common stock or equity-linked securities for capital raising purposes in connection with the closing of a Business Combination at an issue price or effective issue price of less than $9.20 per Class A common (with such issue price or effective issue price to be determined in good faith by the Company’s board of directors and, in the case of any such issuance to the Sponsor or its affiliates, without taking into account any Founder Shares held by the Sponsor or such affiliates, as applicable, prior to such issuance) (the “Newly Issued Price”), (y) the aggregate gross proceeds from such issuances represent more than 60% of the total equity proceeds, and interest thereon, available for the funding of a Business Combination on the date of the consummation of a Business Combination (net of redemptions), and (z) the volume weighted average trading price of the Company’s Class A common stock during the 20 trading day period starting on the trading day prior to the day on which the Company consummates a Business Combination (such price, the “Market Value”) is below $9.20 per share, the exercise price of the warrants will be adjusted (to the nearest cent) to be equal to 115% of the higher of the Market Value and the Newly Issued Price, and the $10.00 and $18.00 per share redemption trigger prices will be adjusted (to the nearest cent) to be equal to 100% and 180% of the higher of the Market Value and the Newly Issued Price, respectively.
Private Placement Warrants [Member]
Class of Warrant or Right [Line Items]
Description of warrants for redemption	Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00. Once the Public Warrants become exercisable, the Company may redeem the Public Warrants (except with respect to the Private Placement Warrants): ● in whole and not in part; ● at a price of $0.01 per warrant; ● upon not less than 30 days’ prior written notice of redemption to each warrant holder; and ● if, and only if, the reported last reported sale price of the Class A common stock for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders (the “Reference Value”) equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like).	Redemption of warrants when the price per share of Class A common stock equals or exceeds $18.00. Once the Public Warrants become exercisable, the Company may redeem the Public Warrants (except with respect to the Private Placement Warrants): ● in whole and not in part; ● at a price of $0.01 per warrant; ● upon not less than 30 days’ prior written notice of redemption to each warrant holder; and ● if, and only if, the reported last reported sale price of the Class A common stock for any 20 trading days within a 30-trading day period ending three business days before the Company sends the notice of redemption to the warrant holders (the “Reference Value”) equals or exceeds $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like).
Public Warrants [Member]
Class of Warrant or Right [Line Items]
Description of warrants for redemption	Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00. Once the Public Warrants become exercisable, the Company may redeem the Public Warrants: ● in whole and not in part; ● at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares based on the redemption date and the fair market value of the Class A common stock; ● if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like); and ● if the Reference Value is less than $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above.	Redemption of warrants when the price per share of Class A common stock equals or exceeds $10.00. Once the Public Warrants become exercisable, the Company may redeem the Public Warrants: ● in whole and not in part; ● at $0.10 per warrant upon a minimum of 30 days’ prior written notice of redemption; provided that holders will be able to exercise their warrants on a cashless basis prior to redemption and receive that number of shares based on the redemption date and the fair market value of the Class A common stock; ● if, and only if, the Reference Value equals or exceeds $10.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like); and ● if the Reference Value is less than $18.00 per share (as adjusted for stock splits, stock dividends, reorganizations, recapitalizations and the like), the Private Placement Warrants must also be concurrently called for redemption on the same terms as the outstanding Public Warrants, as described above.
Warrant [Member]
Class of Warrant or Right [Line Items]
Initial public offering closing period	1 year	1 year
Public warrants expire period	5 years	5 years

Income Tax - Schedule of Net Deferred Tax Liabilities (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Schedule of net deferred tax liabilities [Abstract]
Net operating loss carryforward	$ 21,990
Startup/ Organizational Expenses	43,197
Unrealized gain on marketable securities	(20,625)
Total deferred tax assets	44,562
Valuation Allowance	(44,562)
Deferred tax assets, net of allowance	0
LCP Edge Intermediate, Inc. [Member]
Schedule of net deferred tax liabilities [Abstract]
State taxes	19,000	$ 93,000
Accrued expenses	1,318,000	283,000
Inventories	2,421,000	2,168,000
Unfavorable Leasehold Interest		107,000
Accounts receivable	499,000	184,000
Section 163(j) Limitation	2,426,000	2,346,000
Net operating loss carryforward	423,000	107,000
Other	54,000
Total deferred tax assets	7,160,000	5,288,000
Goodwill and intangibles	(7,761,000)	(11,323,000)
Prepaid expenses	(166,000)	(303,000)
Property and equipment	(2,541,000)	(1,720,000)
Total deferred tax liabilities	(10,468,000)	(13,346,000)
Valuation Allowance	(409,000)
Net deferred tax liability	(3,717,000)	(8,058,000)
Deferred tax assets, net of allowance	$ 270,000	$ 232,000

Income Tax - Schedule of Income Tax Provision (Detail) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components Of Income Tax Expense Benefit [Line Items]
Federal, current
State and Local, current
Federal, deferred			(44,562)
State and Local, deferred
Change in valuation allowance			44,562
Income tax provision
LCP Edge Intermediate, Inc. [Member]
Components Of Income Tax Expense Benefit [Line Items]
Federal, current				$ (5,760,000)	$ 2,294,000	$ 2,404,000
State and Local, current				79,000	305,000	938,000
Foreign, current				579,000	755,000
Total current tax expense (benefit)				(5,102,000)	3,354,000	3,342,000
Federal, deferred				(2,690,000)	(3,118,000)	(2,425,000)
State and Local, deferred				(1,499,000)	(1,387,000)	(502,000)
Foreign, deferred				(17,000)	(146,000)	(88,000)
Total deferred tax benefit				(4,206,000)	(4,651,000)	(3,015,000)
Income tax provision	$ (306,000)	$ (2,614,000)		$ (9,308,000)	$ (1,297,000)	$ 327,000

Income Tax - Additional Information (Detail) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
Income Tax - Additional Information (Detail) - USD ($)	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Foreign net operating loss carryforwards			$ 104,712	$ 104,712
Change in the valuation allowance			44,562
Income tax provision (benefit)
Effective tax rate			0.00%
Federal statutory rate			21.00%
LCP Edge Intermediate, Inc. [Member]
Income Tax Disclosure [Abstract]
Foreign net operating loss carryforwards			$ 400,000	400,000
Change in the valuation allowance				409,000
Statutory federal income tax rate						21.00%	35.00%
State operating loss carryforwards, gross			7,000,000	7,000,000
Federal income taxes refund, under the NOL carryback provision of the CARES Act	$ 4,500,000		4,100,000	4,100,000
Gross unrecognized tax benefits	100,000	$ 0	270,000	270,000	$ 0
Unrecognized tax benefits that we expect would change significantly over the next 12 months			0	0
Income tax provision (benefit)	$ 306,000	$ 2,614,000		$ 9,308,000	$ 1,297,000	$ (327,000)
Effective tax rate	8.55%	22.38%		24.10%	44.20%	3261.00%
Federal statutory rate	21.00%	21.00%		21.00%	21.00%	21.00%
LCP Edge Intermediate, Inc. [Member] \| State and Local Jurisdiction [Member]
Income Tax Disclosure [Abstract]
State operating loss carryforwards				2025
LCP Edge Intermediate, Inc. [Member] \| State and Local Jurisdiction [Member] \| Maximum [Member]
Income Tax Disclosure [Abstract]
State of California, R&D credit usage	$ 5,000,000
LCP Edge Intermediate, Inc. [Member] \| Domestic Tax Authority [Member]
Income Tax Disclosure [Abstract]
Net operating loss carryback			$ 18,800,000	$ 18,800,000

Income Tax - Schedule of reconciliation of federal income tax rate (Detail) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule of reconciliation of federal income tax rate [Abstract]
Change in valuation allowance			$ 44,562
Income tax provision
Federal statutory income tax rate			21.00%
State taxes, net of federal benefit			0.00%
Business combination			(0.50%)
Change in fair value of warrant liability			(19.80%)
Offering costs allocated to warrant liability			(0.60%)
Change in valuation allowance			(0.10%)
Income tax provision			0.00%
LCP Edge Intermediate, Inc. [Member]
Federal statutory income tax rate				$ (8,081,000)	$ (616,000)	$ 2,000
Schedule of reconciliation of federal income tax rate [Abstract]
State taxes, net of federal benefit				(1,155,000)	(337,000)	56,000
Incentive Stock Compensation				76,000	45,000	13,000
Meals and Entertainment				79,000	135,000	51,000
GILTI					708,000
Section 250 Deduction					(486,000)
Foreign Tax Credit					(62,000)
Foreign Rate Differential				(6,000)	88,000	36,000
R&D Credit				(79,000)
State Rate Change, net of federal effect				(465,000)	(429,000)	227,000
Tax Cuts and Jobs Act Benefit						(251,000)
Change in valuation allowance				409,000
Other				(86,000)	(343,000)	192,000
Income tax provision	$ (306,000)	$ (2,614,000)		$ (9,308,000)	$ (1,297,000)	$ 327,000
Federal statutory income tax rate	21.00%	21.00%		21.00%	21.00%	21.00%
State taxes, net of federal benefit				3.00%	11.50%	560.00%
Incentive Stock Compensation				(0.20%)	(1.50%)	130.00%
Meals and Entertainment				(0.20%)	(4.60%)	510.00%
GILTI					(24.10%)
Section 250 Deduction					16.60%
Foreign Tax Credit					2.10%
Foreign Rate Differential					(3.00%)	360.00%
R&D Credit				0.20%
State Rate Change, net of federal effect				1.20%	14.60%	2270.00%
Tax Cuts and Jobs Act Benefit						(2510.00%)
Change in valuation allowance				(1.10%)
Other				0.20%	11.70%	1920.00%
Income tax provision	8.55%	22.38%		24.10%	44.20%	3261.00%

Fair Value Measurement - Schedule of fair value on a recurring basis (Detail) - Fair Value, Recurring [Member] - USD ($)	Mar. 31, 2021	Dec. 31, 2020
Level 1 [Member]
Assets:
Marketable securities held in Trust Account	$ 460,184,400	$ 460,098,212
Level 1 [Member] \| Public Warrants [Member]
Liabilities:
Warrant Liability	31,893,332	40,633,332
Level 3 [Member] \| Private Placement Warrants [Member]
Liabilities:
Warrant Liability	$ 19,599,999	$ 25,013,332

Fair Value Measurements - Summary of quantitative information regarding fair value measurements of warrants (Detail) - Level 3 [Member] - yr	Mar. 31, 2021	Oct. 02, 2020
Risk-free interest rate [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding percentage	0.92%	0.34%
Expected term (years) [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding, term	5 years 29 days	5 years 6 months 25 days
Expected volatility [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding percentage	14.90%	17.40%
Exercise price [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding, measurement input	11.50	11.50
Fair value of Units [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Warrants and rights outstanding, measurement input	10.03	10.00

Fair Value Measurements - Additional Information (Detail) - USD ($)	3 Months Ended
	Dec. 31, 2020	Oct. 02, 2020
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value, measurement with unobservable inputs reconciliation, liability, transfers out of level 3	$ 17,940,000
Private Placement Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants exercise price		$ 1.17
Warrants outstanding value	25,000,000	$ 10,900,000
Public Warrants [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Warrants exercise price		$ 1.17
Warrants outstanding value	$ 40,600,000	$ 17,900,000

Fair Value Measurements - Summary of reconciliation of warrant liabilities measured at fair value (Detail) - Fair Value, Recurring [Member] - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, beginning	$ 65,646,664	$ 0
Initial measurement on October 2, 2020		28,860,000
Change in valuation inputs or other assumptions	(14,153,333)	36,786,664
Fair value , ending	51,493,331	65,646,664
Private Placement Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, beginning	25,013,332	0
Fair value , ending	19,599,999	25,013,332
Public Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Fair value, beginning	40,633,332	0
Fair value , ending	31,893,332	40,633,332
Level 1 [Member] \| Public Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Change in valuation inputs or other assumptions	(8,740,000)	22,693,332
Level 3 [Member] \| Private Placement Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Initial measurement on October 2, 2020		10,920,000
Change in valuation inputs or other assumptions	$ (5,413,333)	14,093,332
Level 3 [Member] \| Public Warrants [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Initial measurement on October 2, 2020		$ 17,940,000

Subsequent Events - Additional Information (Detail)					3 Months Ended	6 Months Ended	12 Months Ended
Subsequent Events - Additional Information (Detail)	Jul. 01, 2021 USD ($) shares	Jun. 08, 2021 USD ($) Distributors shares	Jun. 04, 2021 USD ($) shares	May 04, 2021 USD ($) $ / shares shares	Mar. 31, 2021 $ / shares	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2020 USD ($) $ / shares	Dec. 31, 2019 $ / shares
Subsequent Event [Line Items]
Business acquisition, percentage of voting interests						50.00%	50.00%
Total Consideration expected to be paid to acquire						$ 460,000,000
Agreement, description						Pursuant to the Merger Agreement, the aggregate merger consideration payable to the stockholders of HydraFacial will be paid in a combination of stock and cash equal to $975,000,000, subject to adjustments, (the “Merger Consideration”). The cash consideration will be an amount equal to the Company’s cash and cash equivalents as of the Closing (including proceeds in connection with the Private Placement and the funds in the Company’s Trust Account), minus HydraFacial’s outstanding indebtedness at the closing, minus transaction expenses of HydraFacial and the Company, minus $100,000,000. However, cash consideration, together with certain contractual fee payments, will be subject to a maximum of 60% of the aggregate Merger Consideration. The remainder of the Merger Consideration will be paid in a number of shares of newly issued Class A common stock of the Company (“Company Common Stock”) valued at $10.00 per share.
Cash and cash equivalents acquired						$ 14,000,000
LCP Edge Intermediate, Inc. [Member]
Subsequent Event [Line Items]
Common stock par value (in Dollars per share) \| $ / shares					$ 0.01	$ 0.01	$ 0.01	$ 0.01
Hydra Facial [Member] \| LCP Edge Intermediate, Inc. [Member]
Subsequent Event [Line Items]
Total Consideration expected to be paid to acquire							$ 36,600,000
Class A Common Stock
Subsequent Event [Line Items]
Common stock par value (in Dollars per share) \| $ / shares					$ 0.0001	$ 0.0001	$ 0.0001
Subsequent Event [Member] \| Hydra Facial [Member]
Subsequent Event [Line Items]
Business acquisition, percentage of voting interests				100.00%
Business acquisition, description				(a) the merger of Merger Sub I with and into HydraFacial, with HydraFacial continuing as the surviving corporation (the “First Merger”), and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of HydraFacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”).	(a) the merger of Merger Sub I with and into HydraFacial, with HydraFacial continuing as the surviving corporation (the “First Merger”), and (b) immediately following the First Merger and as part of the same overall transaction as the First Merger, the merger of HydraFacial with and into Merger Sub II, with Merger Sub II continuing as the surviving entity (the “Second Merger” and, together with the First Merger, the “Mergers” and, together with the other transactions contemplated by the Merger Agreement, the “Business Combination”).
Number of Distributors Acquired \| Distributors		4
Total Consideration expected to be paid to acquire		$ 28,000,000
Aggregate merger consideration				$ 975,000,000
Agreement, description				Pursuant to the terms of the Merger Agreement and customary adjustments set forth therein, the aggregate merger consideration paid to the HydraFacial Stockholders in connection with the Business Combination was approximately $975,000,000 less HydraFacial’s net indebtedness as of the Closing Date, and subject to further adjustments for transaction expenses, and net working capital relative to a target. The merger consideration included both cash consideration and consideration in the form of newly issued Class A Stock.
Aggregate cash consideration paid				$ 368,000,000
Cash and cash equivalents acquired				350,000,000
Cash held in trust account				433,000,000
Repayment of debt				224,000,000
Transaction expenses				94,000,000
Other expenses amount				$ 100,000,000
Subsequent Event [Member] \| Hydra Facial [Member] \| LCP Edge Intermediate, Inc. [Member]
Subsequent Event [Line Items]
Equity method investment, Ownership percentage				100.00%
Aggregate merger consideration				$ 975,000,000
Agreement, description				Pursuant to the terms of the Merger Agreement, the aggregate merger consideration paid to the HydraFacial stockholders in connection with the Business Combination was approximately $975.0 million less HydraFacial's net indebtedness as of the Closing Date, transaction expenses, and net working capital relative to a target. In connection with the transaction, all of HydraFacial's existing debt under its credit facilities were repaid and the note receivable from its stockholder was settled.
Aggregate cash consideration paid				$ 368,000,000
Cash and cash equivalents acquired				350,000,000
Cash held in trust account				433,000,000
Repayment of debt				224,000,000
Transaction expenses				94,000,000
Other expenses amount				$ 100,000,000
Subsequent Event [Member] \| Hydra Facial [Member] \| One distributor acquisition \| LCP Edge Intermediate, Inc. [Member]
Subsequent Event [Line Items]
Total Consideration expected to be paid to acquire			$ 5,700,000
Subsequent Event [Member] \| Hydra Facial [Member] \| Three Remaining Distributors Acquisition \| LCP Edge Intermediate, Inc. [Member]
Subsequent Event [Line Items]
Cash consideration expected to be paid to aquire	$ 23,400,000
Subsequent Event [Member] \| HydraFacial And Subsidiaries [Member]
Subsequent Event [Line Items]
Business acquisition, percentage of voting interests				100.00%
Subsequent Event [Member] \| Class A Common Stock \| Hydra Facial [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Share Issued \| shares		590,099
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares				35,501,743
Subsequent Event [Member] \| Class A Common Stock \| Hydra Facial [Member] \| Maximum [Member]
Subsequent Event [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares		7,500,000
Subsequent Event [Member] \| Class A Common Stock \| Hydra Facial [Member] \| Private Placement [Member]
Subsequent Event [Line Items]
Stock issued during period shares new shares \| shares				35,000,000
Subsequent Event [Member] \| Class A Common Stock \| Hydra Facial [Member] \| LCP Edge Intermediate, Inc. [Member]
Subsequent Event [Line Items]
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares \| shares				35,501,743
Business combination earn-out consideration shares \| shares				7,500,000
Subsequent Event [Member] \| Class A Common Stock \| Hydra Facial [Member] \| LCP Edge Intermediate, Inc. [Member] \| Private Placement [Member]
Subsequent Event [Line Items]
Stock issued during period shares new shares \| shares				35,000,000
Subsequent Event [Member] \| Class A Common Stock \| Hydra Facial [Member] \| One distributor acquisition \| LCP Edge Intermediate, Inc. [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Share Issued \| shares			110,726
Subsequent Event [Member] \| Class A Common Stock \| Hydra Facial [Member] \| Three Remaining Distributors Acquisition \| LCP Edge Intermediate, Inc. [Member]
Subsequent Event [Line Items]
Business Combination, Consideration Share Issued \| shares	479,373
Subsequent Event [Member] \| Class A Common Stock \| HydraFacial And Subsidiaries [Member]
Subsequent Event [Line Items]
Common stock par value (in Dollars per share) \| $ / shares				$ 0.0001

Prior Periods' Financial Statement Revision - Summary of prior period correction (Detail) - USD ($)	3 Months Ended	6 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Jul. 07, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Class A common stock subject to possible redemption	$ 460,037,629	$ 460,001,441
Additional paid-in capital	3,103,850	3,103,850
Accumulated deficit	(68,016,288)	(81,617,302)
Total stockholders' equity	$ (64,911,288)	$ (78,512,302)	$ 0
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption	46,000,000	42,604,214
Weighted average shares outstanding, basic and diluted	11,500,000	12,736,775
Basic and diluted net loss per common share	$ 1.18	$ (3.06)
Class A common stock subject to possible redemption	$ (36,188)	$ (417,297,936)
Net loss	13,637,202	(81,617,302)
Additional Paid-in Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total stockholders' equity	3,103,850	3,103,850	0
Class A common stock subject to possible redemption		(417,293,336)
Accumulated Deficit
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total stockholders' equity	(68,016,288)	(81,617,302)	0
Class A common stock subject to possible redemption	(36,188)
Net loss	$ 13,637,202	$ (81,617,302)
Class A Common Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of Class A common shares at redemption value	46,000,000	46,000,000
Number of Class A common shares issued	0	0
Number of Class A common shares outstanding	0	0
Total stockholders' equity			$ 0
Shares of Class A common stock subject to possible redemption		(46,000,000)
Class A common stock subject to possible redemption		$ (4,600)
Previously Reported [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Class A common stock subject to possible redemption		376,489,130
Additional paid-in capital		43,911,821
Accumulated deficit		(38,913,797)
Total stockholders' equity		$ 5,000,009
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption		41,438,497
Weighted average shares outstanding, basic and diluted		13,388,418
Basic and diluted net loss per common share		$ (2.91)
Class A common stock subject to possible redemption		$ (376,489,130)
Net loss		(38,913,797)
Previously Reported [Member] \| Additional Paid-in Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total stockholders' equity		43,911,821
Class A common stock subject to possible redemption		(376,485,365)
Previously Reported [Member] \| Accumulated Deficit
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total stockholders' equity		(38,913,797)
Net loss		$ (38,913,797)
Previously Reported [Member] \| Class A Common Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of Class A common shares at redemption value		37,648,795
Number of Class A common shares issued		8,351,205
Number of Class A common shares outstanding		8,351,205
Class A common shares		$ 835
Total stockholders' equity		$ 835
Shares of Class A common stock subject to possible redemption		(37,648,795)
Class A common stock subject to possible redemption		$ (3,765)
Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Class A common stock subject to possible redemption		83,512,311
Additional paid-in capital		(40,807,971)
Accumulated deficit		(42,703,505)
Total stockholders' equity		$ (83,512,311)
Basic and diluted weighted average shares outstanding, Common stock subject to possible redemption		1,165,717
Weighted average shares outstanding, basic and diluted		(651,643)
Basic and diluted net loss per common share		$ (0.15)
Class A common stock subject to possible redemption		$ (40,808,806)
Net loss		(42,703,505)
Adjustments [Member] \| Additional Paid-in Capital
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Class A common stock subject to possible redemption		(40,807,971)
Adjustments [Member] \| Accumulated Deficit
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Net loss		$ (42,703,505)
Adjustments [Member] \| Class A Common Stock
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of Class A common shares at redemption value		8,351,205
Number of Class A common shares issued		(8,351,205)
Number of Class A common shares outstanding		(8,351,205)
Class A common shares		$ (835)
Shares of Class A common stock subject to possible redemption		(8,351,205)
Class A common stock subject to possible redemption		$ (835)

Prior Periods' Financial Statement Revision (Detail) - Class A Common Stock - shares	Mar. 31, 2021	Dec. 31, 2020
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of Class A common shares at redemption value	46,000,000	46,000,000
Adjustments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Number of Class A common shares at redemption value		8,351,205

Nature of Operations - Additional information (Details) (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Mar. 31, 2021	Dec. 08, 2020	Dec. 31, 2019
Nature Of Business [Line Items]
Amounts investors agreed to subscribe for and purchase common stock			$ 350,000
Aggregate purchase price payable to stockholders of HydraFacial			975,000
Stockholders of HydraFacial entitled to receive contingent consideration from Vesper			$ 75,000
Outstanding indebtedness under credit facility	$ 216,024	$ 218,472		$ 180,850
Liquidity covenant required to maintain HydraFacial's Credit Facility	$ 5,000

Summary of Significant Accounting Policies - Schedule of Change in the Allowance for Doubtful Accounts (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Accounts Receivables [Line Items]
Allowance for doubtful accounts, beginning balance	$ 2,032	$ 732	$ 732	$ 188
Provision for doubtful account	$ 19	$ 183	1,442	659	$ 96
Amounts written off			(142)	(115)
Allowance for doubtful accounts, ending balance			$ 2,032	$ 732	$ 188

Revenues Recognition - Schedule of Revenues Disaggregated by Major Product Line (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Disaggregation of Revenue [Line Items]
Total net sales	$ 47,542	$ 32,536	$ 119,092	$ 166,623	$ 112,310
Delivery Systems [Member]
Disaggregation of Revenue [Line Items]
Total net sales	25,672	14,081	53,372	81,467	57,067
Consumables [Member]
Disaggregation of Revenue [Line Items]
Total net sales	$ 21,870	$ 18,455	$ 65,720	$ 85,156	$ 55,243

- Definition

Amount, excluding tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value added and excise.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 30
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8906-108599

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 40
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9031-108599

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 41
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9038-108599

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 32
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8933-108599

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 4
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130543-203045

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 22
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
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-Section 50
-Paragraph 22
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e8736-108599

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 280
-SubTopic 10
-Section 50
-Paragraph 42
-URI http://asc.fasb.org/extlink&oid=120311839&loc=d3e9054-108599

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 606
-SubTopic 10
-Section 50
-Paragraph 5
-URI http://asc.fasb.org/extlink&oid=121604090&loc=SL49130545-203045

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 924
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SAB Topic 11.L)
-URI http://asc.fasb.org/extlink&oid=6472922&loc=d3e499488-122856

+ Details

Details of Certain Account Balances - Schedule Of Prepaid Expenses (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Prepaid tradeshows	$ 619	$ 1,081
Prepaid insurance	11	285
Prepaid inventory	1,086	386
Other prepaid expenses	1,504	1,957
Total prepaid expenses	$ 3,220	$ 3,709

Details of Certain Account Balances - Schedule of Other Accrued Expenses (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	Dec. 31, 2020	Dec. 31, 2019
Sales tax payable	$ 1,539	$ 1,336
Deferred rent and leases payable	461	422
Other	458	1,188
Total other accrued expenses	$ 2,458	$ 2,946

Inventories - Schedule of Inventory (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Raw materials	$ 9,531	$ 9,335	$ 6,533
Work-in-progress		0	176
Finished goods	12,239	13,867	12,726
Total inventories	$ 21,770	$ 23,202	$ 19,435

Property and Equipment, net - Schedule of Property, Plant, and Equipment (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Mar. 31, 2201	Dec. 31, 2019
Property, Plant and Equipment [Line Items]
Useful life		Depreciation is computed using the straight-line method over the estimated useful lives of the assets, generally three to seven years.
Total Property and equipment		$ 12,427	$ 12,902	$ 10,442
Less: accumulated depreciation and amortization		(4,407)	(5,023)	(2,237)
Construction-in-progress		1,171	267	2,595
Property and equipment, net	$ 8,146	9,191	8,146	10,800
Furniture and Fixtures [Member]
Property, Plant and Equipment [Line Items]
Total Property and equipment		$ 3,265	3,225	2,542
Furniture and Fixtures [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	2 years	2 years
Furniture and Fixtures [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life		7 years
Computer and Equipment [Member]
Property, Plant and Equipment [Line Items]
Total Property and equipment		$ 3,502	3,630	2,755
Computer and Equipment [Member] \| Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	3 years	3 years
Computer and Equipment [Member] \| Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life		5 years
Autos And Trucks [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years	5 years
Total Property and equipment		$ 413	454	308
Tooling [Member]
Property, Plant and Equipment [Line Items]
Useful life	5 years	5 years
Total Property and equipment		$ 1,150	1,150	1,145
Leasehold Improvements [Member]
Property, Plant and Equipment [Line Items]
Useful life		Shorter of remaining lease term or estimated useful life
Total Property and equipment		$ 4,097	$ 4,443	$ 3,692

Property and Equipment, net - Additional Information (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Depreciation expense	$ 0.7	$ 0.6	$ 2.6	$ 1.4	$ 0.6
Cost of Sales [Member]
Depreciation expense	0.3	0.3	1.2	0.7	0.3
General and Administrative Expense [Member]
Depreciation expense	$ 0.4	$ 0.3	$ 1.4	$ 0.7	$ 0.3

Schedule of Intangible Assets (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 96,200	$ 93,978	$ 94,543
Accumulated Amortization	(45,946)	(43,043)	(34,250)
Net Carrying Value	50,254	50,935	60,293
Trademarks [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	9,480	9,480	9,480
Accumulated Amortization	(2,934)	(2,765)	(2,088)
Net Carrying Value	$ 6,546	$ 6,715	$ 7,392
Estimated Useful Life (Years)	15 years	15 years	15 years
Customer Relationships [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 6,016	$ 6,003	$ 5,958
Accumulated Amortization	(2,455)	(2,263)	(1,642)
Net Carrying Value	$ 3,561	$ 3,740	$ 4,316
Customer Relationships [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	5 years	5 years	5 years
Customer Relationships [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	10 years	10 years	10 years
Developed Technology Rights [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 70,900	$ 70,900	$ 70,900
Accumulated Amortization	(38,404)	(36,189)	(27,326)
Net Carrying Value	$ 32,496	$ 34,711	$ 43,574
Estimated Useful Life (Years)	8 years	8 years	8 years
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 1,596	$ 1,423	$ 4,633
Accumulated Amortization	(173)	(158)	(2,617)
Net Carrying Value	$ 1,423	$ 1,265	$ 2,016
Patents [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	4 years	4 years	4 years
Patents [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	19 years	19 years	19 years
Capitalized Software [Member]
Finite-Lived Intangible Assets [Line Items]
Gross Carrying Value	$ 8,208	$ 6,172	$ 3,572
Accumulated Amortization	(1,980)	(1,668)	(577)
Net Carrying Value	$ 6,228	$ 4,504	$ 2,995
Capitalized Software [Member] \| Minimum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	3 years	3 years	3 years
Capitalized Software [Member] \| Maximum [Member]
Finite-Lived Intangible Assets [Line Items]
Estimated Useful Life (Years)	5 years	5 years	5 years

Goodwill and Intangible Assets, net - Additional Information (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 2.9	$ 3.2	$ 11.8	$ 12.4	$ 10.7
Patents [Member]
Finite-Lived Intangible Assets [Line Items]
Weighted average remaining useful life			10 years
Cost of Sales [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	2.2	2.7	$ 9.5	10.7	9.6
General and Administrative Expense [Member]
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 0.7	$ 0.5	$ 2.4	$ 1.7	$ 1.1

Goodwill and Intangible Assets, net - Schedule of Goodwill (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Beginning Balance	$ 98,520	$ 98,147
Acquisition of Consultingroom.com		347
Foreign currency translation impact	11	26
Ending Balance	$ 98,531	$ 98,520

Goodwill and Intangible Assets, net - Schedule of future amortization expense (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
2021		$ 11,588
2022		11,529
2023		11,529
2024		10,232
2025		1,132
Thereafter		4,925
Total	$ 50,254	$ 50,935	$ 60,293

Long-Term Debt - Summary of Long Term Debt (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Current portion of debt	$ 5,197	$ 512	$ 8,927
Term Loan, net of current portion	218,472	216,024	180,850
Long-term debt, net	223,669	216,536	189,777
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolver	5,000	0	8,500
Term Loans [Member]
Debt Instrument [Line Items]
Current portion of debt	1,772	1,772	1,772
Term Loan And Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Current portion of deferred financing costs	(1,575)	(1,260)	(1,345)
Current portion of debt	5,197	512	8,927
Term Loan, net of current portion	184,661	184,175	183,222
Term A Loan [Member]
Debt Instrument [Line Items]
Debt, outstanding balance	34,648	33,395
Long-term portion of deferred financing costs	(837)	(1,546)	(2,372)
Long-term debt, net	$ 218,472	$ 216,024	$ 180,850

Long-Term Debt - Additional Information (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($)		3 Months Ended		12 Months Ended
	Apr. 10, 2020	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Aug. 31, 2019	Aug. 31, 2018	Jul. 31, 2018
Debt Instrument [Line Items]
Deferred financing cost amortization expense		$ 394,000	$ 349,000	$ 1,515,000	$ 1,365,000	$ 708,000
Debt, outstanding balance				219,342,000
PIK interest		2,182,000	$ 0	$ 6,119,000	$ 0	$ 0
Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Revolving line of credit									$ 5,000,000
Revolver capacity increase								$ 15,000,000
Interest rate on revolver loan				0.00%	7.695%
Revolver credit outstanding		$ 5,000,000		$ 0	$ 8,500,000
Line of Credit Facility, Expiration Date		Aug. 24, 2020		Aug. 24, 2022
Borrowing capacity under revolver		$ 10,000,000		$ 15,000,000	$ 6,500,000
Commitment fees		$ 0.0150		$ 5,000,000
Commitment fees percentage per annum		8.75%		1.50%
PIK interest percent		2.00%		2.00%
Term Loans [Member]
Debt Instrument [Line Items]
Debt Instrument, face Amount									$ 65,000,000
Additional term loan							$ 10,000,000	$ 113,000,000
Interest rate		8.75%		8.75%	7.695%
Debt, maturity date		Aug. 24, 2022		Aug. 24, 2022
Debt, outstanding balance				$ 186,000,000	$ 185,000,000
PIK interest percent		2.00%		2.00%
PIK interest				$ 2,700,000
Term loan, outstanding		$ 186,400,000		185,900,000
Term Loans [Member] \| First eight quarters beginning in the first quarter of 2017 [Member]
Debt Instrument [Line Items]
Debt, installment		500,000		500,000
Term Loans [Member] \| Following eleven quarters [Member]
Debt Instrument [Line Items]
Debt, installment		$ 900,000		$ 900,000
Term Loans [Member] \| Prior to April 10, 2021 [Member]
Debt Instrument [Line Items]
Debt, prepayment fee percent		2.00%		2.00%
Term Loans [Member] \| Between April 11, 2021 and April 10, 2022 [Member]
Debt Instrument [Line Items]
Debt, prepayment fee percent		1.00%		1.00%
Term A Loan [Member]
Debt Instrument [Line Items]
Debt Instrument, face Amount	$ 30,000,000
Debt, maturity date	Aug. 24, 2023
PIK interest		$ 1,300,000		$ 3,400,000
Debt, stated interest rate	15.00%
Term A Loan [Member] \| Prior to April 10, 2021 [Member]
Debt Instrument [Line Items]
Debt, prepayment fee percent		2.00%		2.00%
Term A Loan [Member] \| Between April 11, 2021 and April 10, 2022 [Member]
Debt Instrument [Line Items]
Debt, prepayment fee percent		1.00%		1.00%
Bank, Related Party [Member]
Debt Instrument [Line Items]
Related party holding interest percentage		5.00%		5.00%

Long-Term Debt - Scheduled Debt Maturities (Detail) - LCP Edge Intermediate, Inc. [Member] $ in Thousands	Dec. 31, 2020 USD ($)
Debt Instrument [Line Items]
2021	$ 1,772
2022	184,175
2023	33,395
2024	0
2025	0
Total	$ 219,342

Income Taxes - Summary of Domestic and Foreign Components of Net Income (Loss) Before Income Taxes (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Components Of Income Tax Expense Benefit [Line Items]
Domestic	$ (40,135)	$ (5,615)	$ 784
Foreign	1,652	2,680	(774)
Total net income (loss) before taxes	$ (38,483)	$ (2,935)	$ 10

Income Taxes - Significant Components of the Deferred Tax Liabilities (Detail) - USD ($)	Dec. 31, 2020	Dec. 31, 2019
Components Of Income Tax Expense Benefit [Line Items]
Deferred tax assets	$ 0
LCP Edge Intermediate, Inc. [Member]
Components Of Income Tax Expense Benefit [Line Items]
Deferred tax assets	270,000	$ 232,000
Deferred tax liabilities	(3,987,000)	(8,290,000)
Net deferred tax liability	$ (3,717,000)	$ (8,058,000)

Income Taxes - Schedule of Reconciliation of the Beginning and Ending Balances of Unrecognized Tax Benefits (Detail) - LCP Edge Intermediate, Inc. [Member] $ in Thousands	12 Months Ended
	Dec. 31, 2020 USD ($)
Components Of Income Tax Expense Benefit [Line Items]
Unrecognized tax benefits at beginning of period	$ 0
Increases for tax positions in prior periods	235
Decreases for tax positions in prior periods	0
Increases for tax positions in current period	35
Settlements/statute expirations	0
Unrecognized tax benefits at end of period	$ 270

Employee Benefit Plan - Additional Information (Detail) - USD ($) $ in Millions	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
LCP Edge Intermediate, Inc. [Member]
Defined Contribution Plan Disclosure [Line Items]
Contributions to the plan	$ 0.2	$ 0.3	$ 0.8	$ 0.9	$ 0.4

Equity Based Compensation - Additional Information (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ / shares in Units, $ in Millions	1 Months Ended	12 Months Ended
	May 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Mar. 31, 2021	Sep. 30, 2020	Mar. 31, 2020	Dec. 31, 2018	Dec. 31, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Profit on incentive unit	$ 100
Weighted average profit on incentive unit					$ 3,323
Share based compensation expense	$ 0.2
Vested time vesting units		926
Unvested time vesting units		373
Compensation expense		$ 0.4
Time Vesting Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share outstanding	1,295	373	0			318
Time vesting units granted	178	1,473
Time vesting units vested		684
vesting units vesting time		5 years
Total unrecognized compensation related expense		$ 0.3		$ 0.3
Performance Vesting Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share outstanding	4,440	4,033	0			4,033
Time vesting units granted		4,973
Performance incentive units	533
Total unrecognized compensation related expense		$ 1.1		$ 1.1
2016 Equity Incentive Award Plan [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant								6,679
2016 Equity Incentive Award Plan [Member] \| Time Vesting Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share outstanding			1,509				1,509
Weighted average exercise price			$ 417				$ 417
Weighted average contactual term			7 years 3 months 19 days
Stock options cancelled	1,295
2016 Equity Incentive Award Plan [Member] \| Performance Vesting Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share outstanding			5,082				5,082
Weighted average exercise price			$ 383				$ 383
Weighted average contactual term			7 years 1 month 6 days
Stock options cancelled	4,440

Equity Based Compensation - Summary of Non-vested incentive Plan (Detail) - LCP Edge Intermediate, Inc. [Member] - $ / shares	1 Months Ended	12 Months Ended
	May 31, 2020	Dec. 31, 2020
Time Vesting Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at December 31, 2019		0
Granted	178	1,473
Forfeited		(174)
Vested		(926)
Outstanding at December 31, 2020	1,295	373
Weighted average grant date fair value, Outstanding at December 31, 2019		$ 0.00
Weighted average grant date fair value, Granted		373.88
Weighted average grant date fair value, Forfeited		261.98
Weighted average grant date fair value, Vested		271.51
Weighted average grant date fair value, Outstanding at December 31, 2020		$ 680.62
Performance Vesting Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Outstanding at December 31, 2019		0
Granted		4,973
Forfeited		(940)
Outstanding at December 31, 2020	4,440	4,033
Weighted average grant date fair value, Outstanding at December 31, 2019		$ 0.00
Weighted average grant date fair value, Granted		252.77
Weighted average grant date fair value, Forfeited		153.45
Weighted average grant date fair value, Outstanding at December 31, 2020		$ 275.85

Commitments and Contingencies - Additional Information (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Commitments And Contingencies Disclosure [Line Items]
Rent expense	$ 3.7	$ 1.9	$ 1.3
Software License Agreement [Member]
Commitments And Contingencies Disclosure [Line Items]
Contractual obligation, next twelve months	1.2
Contractual obligation, after fifth year	3.1
Bank, Related Party [Member]
Commitments And Contingencies Disclosure [Line Items]
Rent expense	$ 0.3	$ 0.5	$ 0.4

Commitments and Contingencies - Schedule of Future Minimum Rental Payments for Operating Leases (Detail) - LCP Edge Intermediate, Inc. [Member] $ in Thousands	Dec. 31, 2020 USD ($)
Operating lease liabilities payments due
2021	$ 2,617
2022	2,432
2023	2,114
2024	2,048
2025	669
Total	9,880
Bank, Related Party [Member]
Operating lease liabilities payments due
2021	448
2022	189
Total	637
Unrelated Party [Member]
Operating lease liabilities payments due
2021	2,169
2022	2,243
2023	2,114
2024	2,048
2025	669
Total	$ 9,243

License Agreement - Additional Information (Detail) - LCP Edge Intermediate, Inc. [Member] $ in Millions	12 Months Ended
	Dec. 31, 2018 USD ($)
License Agreement [Line Items]
Patent	$ 3.6
Total royalty expense	$ 0.3

Concentrations - Schedule of Purchases from Major Suppliers (Detail) - LCP Edge Intermediate, Inc. [Member] - Supplier Concentration Risk [Member] - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Supplies expense	$ 3,603	$ 4,452	$ 11,103	$ 14,351	$ 6,377
% of Total purcahses	56.60%	43.90%	37.00%	41.00%	22.00%
Supplier A [Member]
Concentration Risk [Line Items]
Supplies expense	$ 1,803	$ 2,275	$ 6,195	$ 6,077	$ 3,449
% of Total purcahses	28.30%	22.40%	21.00%	17.00%	12.00%
Supplier B [Member]
Concentration Risk [Line Items]
Supplies expense	$ 1,119	$ 1,152	$ 4,908	$ 4,173	$ 2,928
% of Total purcahses	17.60%	11.40%	16.00%	12.00%	10.00%
Supplier C [Member]
Concentration Risk [Line Items]
Supplies expense	$ 681	$ 1,025		$ 4,101
% of Total purcahses	10.70%	10.10%		12.00%

Concentrations - Additional Information (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($)	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Concentration Risk [Line Items]
Amount payable	$ 22,415,000		$ 18,485,000	$ 14,257,000
Accounts Receivable [Member]
Concentration Risk [Line Items]
Accounts receivable			$ 1.9
Percentage risk concentration			10.50%
Supplier Concentration Risk [Member]
Concentration Risk [Line Items]
Amount payable	$ 1,400,000		$ 1,000,000	$ 1,500,000	$ 900,000
Percentage risk concentration	56.60%	43.90%	37.00%	41.00%	22.00%

Related Party Transactions - Schedule of Outstanding Note Receivable (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2016
Related Party Transactions (Details) [Line Items]
Note receivable from stockholder				$ 600
Receivables from Stockholder [Member]
Related Party Transactions (Details) [Line Items]
Note receivable from stockholder	$ 554	$ 554	$ 554

Related Party Transactions - Schedule of Related Party Sales and Outstanding Accounts Receivable Balance (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Related Party Transactions (Details) [Line Items]
Sales to related party	$ 100	$ 96	$ 337	$ 351	$ 183
Accounts receivable	$ 322	$ 75	$ 250	$ 122	$ 51

Business Acquisitions - Additional Information (Detail) - LCP Edge Intermediate, Inc. [Member] - Consulting Room [Member] - USD ($) $ in Millions		12 Months Ended
	Sep. 27, 2019	Dec. 31, 2020	Dec. 31, 2019
Business Acquisition [Line Items]
Consideration transferred amount	$ 2.9
Business combination, deferred payment	$ 0.9
Business combination, cost related to transaction			$ 0.2
Intangible assets consist of customer relationships with weighted average amortization period		4 years

Business Acquisitions - Summary of Estimated Fair Values Assigned to Assets (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	Mar. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Sep. 27, 2019	Dec. 31, 2018
Business Acquisition [Line Items]
Goodwill	$ 98,535	$ 98,531	$ 98,520		$ 98,147
Consulting Room [Member]
Business Acquisition [Line Items]
Inventory				$ 1,193
Property and equipment				23
Intangible assets				1,359
Net assets acquired				2,575
Goodwill				347
Total consideration				$ 2,922

Segment Reporting - Additional Information (Detail) - LCP Edge Intermediate, Inc. [Member] - Segment	3 Months Ended	12 Months Ended
	Mar. 31, 2021	Dec. 31, 2020
Number of operating segment	1	1
Number of reportable segment	1	1

Segment Reporting - Summary of Business Sales Segmentation (Detail) - LCP Edge Intermediate, Inc. [Member] - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Segment Information [Line Items]
Total net sales	$ 47,542	$ 32,536	$ 119,092	$ 166,623	$ 112,310
Americas [Member]
Segment Information [Line Items]
Total net sales	31,280	23,913	81,453	122,396	88,689
EMEA [Member]
Segment Information [Line Items]
Total net sales	7,471	6,888	23,175	28,425	17,358
Asia Pacific [Member]
Segment Information [Line Items]
Total net sales	$ 8,791	$ 1,735	$ 14,464	$ 15,802	$ 6,263

- Definition

+ References

+ Details

Net Loss Attributable to Common Shareholders - Schedule of Computation of Net Loss per Share on Basic and Diluted Basis (Detail) - USD ($)	3 Months Ended		6 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Basic and Diluted Net loss per share:
Net Income allocable to shares subject to redemption	$ 30,687		$ 1,180
Shares used in computation:
Weighted-average common shares outstanding	11,500,000		12,736,775
Basic and Diluted Net loss per share:	$ 1.18		$ (3.06)
LCP Edge Intermediate, Inc. [Member]
Basic and Diluted Net loss per share:
Net loss	$ (3,274,000)	$ (9,070,000)		$ (29,175,000)	$ (1,638,000)	$ (317,000)
Less: Distributions to preferred stockholders						(85,021,000)
Less: Cumulative preferred dividends	(201,000)	(188,000)		(740,000)	(721,000)	(5,591,000)
Net Income allocable to shares subject to redemption	$ (3,475,000)	$ (9,258,000)		$ (29,915,000)	$ (2,359,000)	$ (90,929,000)
Shares used in computation:
Weighted-average common shares outstanding	54,358	49,205		52,494	49,205	49,151
Basic and Diluted Net loss per share:	$ (63.92)	$ (188.17)		$ (569.87)	$ (47.94)	$ (1,849.99)

- Definition

Amount, after deduction of tax, noncontrolling interests, dividends on preferred stock and participating securities; of income (loss) available to common shareholders.

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The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Net Loss Attributable to Common Shareholders - Schedule of Potentially Dilutive Shares Not Included in Calculation of Diluted Shares Outstanding (Detail) - shares	3 Months Ended		6 Months Ended	12 Months Ended
	Mar. 31, 2021	Mar. 31, 2020	Dec. 31, 2020	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Schedule Of Earnings Per Share [Line Items]
Stock Options	24,666,666		24,666,666
LCP Edge Intermediate, Inc. [Member] \| Equity Option [Member]
Schedule Of Earnings Per Share [Line Items]
Stock Options		1,509		542	1,509	1,473