The Beauty Tech Group sells LED masks, hair-removal lasers and other beauty devices that people use at home, mostly online and under its own brands. It listed in London in October 2025 after starting as a niche online marketplace in 2009. Since then it has raised guidance repeatedly, but about 89% of revenue comes from one brand, and the fourth quarter decides each year.
Clinic technology, sold to people at home
The group makes and sells devices built on technologies long used in professional clinics: LED light, radio frequency, microcurrent and laser. It sells through its own websites and some selected international retailers. It has three brands. CurrentBody Skin makes LED masks for anti-ageing and hair regrowth and brought in £71.1m of H1 2026 revenue, 89.2% of the group. ZIIP Beauty (microcurrent) made £7.0m. Tria Laser (hair removal) made £1.6m.
The United States and Canada are the largest region at 41.4% of revenue, and the UK and Ireland make up 17.9%. The group serves customers in over 90 countries. It manufactures in China, the US, India and Thailand, so it can shift output as tariffs change. In H1 2026, 85.4% of revenue came from shoppers searching for its brands by name, which management says lets it avoid discounting. 17 Sep 2026 16 Apr 2026
“I started this business on a simple belief: that clinical devices would eventually be miniaturised and used safely and effectively in people’s own homes.” 17 Sep 2026
From online marketplace to own-brand maker
CEO Laurence Newman and co-founder Andrew Showman, the chief technology officer, began in 2009 with what Newman calls a niche online marketplace. Over sixteen years it became a multi-brand device group. The final step was to drop third-party products by design and sell only its own brands.
That shift lifted the gross margin from 56.8% in 2024 to 62.7% in 2025. Own-brand revenue grew 60% to £140.9m. Management names the Series 2 LED mask as the main driver at CurrentBody Skin. ZIIP was redesigned in what the company calls a foundation year. Tria came into the group with only £2.0m of legacy product sales. 16 Apr 2026
The IPO clears the debt
The shares were priced at 271p on 3 October 2025 and began trading on 8 October. The offer totalled £106.5m and valued the company at about £300m. Only about £29m of that was new money for the company. The rest came from existing holders selling.
The new money repaid all external debt. Net debt of £27.1m at the end of 2024 became net cash of £40.8m a year later. That also ended £6.3m of annual pre-IPO interest. The listing cost £8.0m of one-off charges in 2025. The shares closed October 2025 at 265p. 3 Oct 2025 16 Apr 2026
Three upgrades, then a bigger year
The company raised 2025 guidance in November 2025, to at least £128m revenue and £32m adjusted EBITDA (earnings before interest, tax, depreciation and one-offs). In January it lifted the figures again to £136m and £35.5m. Final results were £141.0m and £37.5m.
In April 2026 it guided 2026 revenue in line with the market's £160m and profit ahead. On 7 July it set 2026 guidance of at least £170m revenue and £45m adjusted EBITDA. The shares fell to 240p in March 2026, then reached 465p by the end of September. 19 Nov 2025 8 Jan 2026 16 Apr 2026 7 Jul 2026
Margin gains, with one brand and one season carrying the year
Management links the margin gains to dropping third-party sales and to selling without discounts. Marketing spend as a share of revenue still rose to 18.6% in H1 2026 from 16.7%. Management cites channel mix and timing.
The business depends heavily on the fourth quarter, when Black Friday and Christmas gifting concentrate demand. In 2025 the first half produced 39.2% of revenue and 37.2% of adjusted EBITDA. Management expects this first half to be a bigger share of the year. The half-year earnings also include a tariff refund, which management says flatters the comparison.
ZIIP and Tria are still small and still being rebuilt. Management says each follows CurrentBody Skin's path: fix the supply chain, then the product, then spend on marketing. 17 Sep 2026 16 Apr 2026
“The first half of FY2026 is likely to represent a larger share of the year than in H1 FY2025.” 17 Sep 2026
Founders who run it, and have started to sell
Newman, the founder, is chief executive, and Showman is chief technology officer. Sam Glynn is chief financial and chief operating officer. The company says it is founder-led and intends to stay so. Several directors bought 53,210 shares at about 280p in November 2025.
Dr Marnie Millard joined the board on 1 July 2026 as senior independent director, replacing Simon Cooper, who left on 31 August. Pre-IPO shareholders sold 8.8m shares at 300p in May 2026. On 9 October Newman and Showman each sold 750,000 shares at 400p, their first sales since the IPO. Holdings after the sale were 3.9% and 4.1%. They agreed not to sell more for 90 days.
On guidance, the company has raised it each time and its results have beaten it. 26 Nov 2025 7 May 2026 30 Jun 2026 9 Oct 2026 17 Sep 2026
Growth in every region, £52m net cash
In the six months to June 2026, revenue grew 44.3% to £79.7m. Adjusted EBITDA rose 53.0% to £21.3m, a 26.7% margin. Every region and every brand grew. Net cash was £52.0m with no debt. Free cash flow was £11.5m, held down because the stock build falls in the second half.
The group started its own European warehouse, replacing a third-party provider. It also began building a research laboratory for early 2027. On 17 September it announced a buyback of up to £20m. A first reverse accelerated bookbuild, in which the company buys shares from sellers at a set price, bought 287,338 shares at 400p. The rest is to follow on the market. No interim dividend is proposed. The latest close was 432p on 9 October 2026. 17 Sep 2026 29 Sep 2026 1 Oct 2026
Launches, a bigger EBITDA target and the buyback
Guidance for 2026 is revenue of at least £170m, first stated on 7 July. Adjusted EBITDA was first guided at £45m on 7 July and raised on 17 September to at least £48.5m.
The second half brings the third-generation LED range after two years of development, and a renewed ZIIP range. The European warehouse is due to be fully operational. ZIIP marketing spend is planned from 2027, which management calls the year ZIIP should have the right product and supply chain. For Tria, management says the next two years are about supply chain and product pipeline.
Management expects to depend less on the fourth quarter over time, but not this year. The company has not set a date for finishing the buyback. 17 Sep 2026 7 Jul 2026 16 Apr 2026 1 Oct 2026
Written by AI from The Beauty Tech Group PLC's own announcements since Oct 2023 · every paragraph links to its sources