Welcome to our dedicated page for Strata Skin Sciences news (Ticker: SSKN), a resource for investors and traders seeking the latest updates and insights on Strata Skin Sciences stock.
STRATA Skin Sciences reports company developments around dermatology medical devices for in-office treatment of psoriasis, vitiligo, acne and other dermatologic conditions. Updates commonly address the XTRAC® 308 nm excimer laser, VTRAC® lamp systems, the TheraClear®X Acne Therapy System, clinical evidence for targeted UVB and photopneumatic therapies, and customer adoption by dermatology practices and academic medical centers.
Company news also covers financial results, recurring revenue and equipment sales, reimbursement and CPT coding for excimer laser treatments, international regulatory clearances such as COFEPRIS for TheraClearX in Mexico, and corporate-status events. In 2026, STRATA confirmed suspension of its common stock from The Nasdaq Capital Market and SEC filings to remove and terminate Exchange Act registration.
STRATA Skin Sciences reported a 11% decline in Q1 2024 revenue to $6.8 million from $7.6 million in Q1 2023. Global net recurring revenue also decreased by 10% to $4.7 million. Despite these declines, gross domestic recurring billings fell only 3%, showing signs of stabilization. Operating expenses decreased by 14% to $6.0 million, while the domestic installed base of XTRAC® devices decreased to 907 units. The company renewed agreements with exclusive distributors in China and Japan and amended its credit agreement with MidCap Financial Trust. The net loss increased to $3.4 million from $2.8 million in Q1 2023. Cash reserves stood at $6.6 million as of March 31, 2024.
STRATA Skin Sciences (NASDAQ: SSKN), a medical technology company, announced that its TheraClear®X devices surpassed 100 domestic installations by March 31, 2024. The company is expanding within existing XTRAC® partner clinics, including private equity-backed dermatology clinics like California Skin Institute and Aqua Dermatology. Pennsylvania Dermatology Partners, with 35 clinics, is also a strategic account. The Palo Alto Medical Foundation marked a comeback win. STRATA partnered with 48 private equity-backed dermatology groups, with a total of 2,482 locations, deploying 386 XTRAC® and 62 TheraClear®X devices. CEO Dr. Dolev Rafaeli emphasized the effectiveness of TheraClear®X in treating acne, combining vacuum and pulsed broadband light technology, offering a reimbursable treatment option for dermatologists.
STRATA Skin Sciences (NASDAQ: SSKN), a medical technology firm specializing in dermatologic treatments, will participate in the Benchmark Healthcare House Call Virtual 1x1 Investor Conference on May 21-22, 2024. The event will feature Dr. Dolev Rafaeli, CEO, and Christopher Lesovitz, CFO, who will be available for one-on-one meetings. Interested investors can register on Benchmark’s website or contact IR@strataskin.com to arrange a meeting. This participation aims to provide insights into the company's current activities and future plans.
STRATA Skin Sciences, Inc. will report its first quarter 2024 financial results on May 15, 2024, following the market close. The company specializes in developing and marketing products for dermatologic conditions. A conference call will be held to discuss financial results and corporate updates.
STRATA Skin Sciences, Inc. announces the placement of six XTRAC® devices with dermatology clinics in the first quarter of 2024 that are considered 'comebacks.' These placements represent clinics rejoining STRATA's partner program after previously terminating their relationship, showcasing the value proposition of the program. With a focus on expanding device utilization and regaining lapsed customers, STRATA aims to grow its average revenue per device through increased marketing activities.
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