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, Inc. (NASDAQ: SSKN) is a leading medical technology company dedicated to developing, commercializing, and marketing innovative products for treating dermatologic conditions. With a focus on providing hope and assistance to dermatology patients, STRATA has introduced a range of cutting-edge products designed to improve patient outcomes and experiences.
The company's primary offerings include the XTRAC® excimer laser and VTRAC® lamp systems, which are widely utilized for the treatment of psoriasis, vitiligo, and other skin conditions. Recently, STRATA has expanded into the acne treatment market with the successful launch of the TheraClear®X Acne Therapy System. This system adds to their robust portfolio and addresses a significant market need, showcasing the company's commitment to innovation.
STRATA operates in two main segments: Dermatology Recurring Procedures and Dermatology Procedures Equipment. The Dermatology Recurring Procedures segment is the key revenue driver, generating income from the use of its equipment by dermatologists to perform XTRAC procedures. Conversely, the Dermatology Procedures Equipment segment derives revenue from the sale of equipment, such as lasers and lamp products.
In 2023, STRATA saw significant strategic growth, product innovation, and market expansion under the leadership of Dr. Dolev Rafaeli, Vice-Chairman, President, and CEO. The company reported $33.4 million in revenues for the full year, despite a challenging market environment. STRATA's recurring revenues and equipment sales were vital contributors to this performance.
Geographically, a majority of STRATA's revenue is derived from the United States, with significant contributions from international markets, particularly through long-standing exclusive distribution agreements in countries like China, Japan, and South Korea. These agreements highlight the global impact and reach of STRATA's innovative dermatological solutions.
STRATA's unique Partnership Program offers a compelling value proposition for dermatology clinics. This program includes a fee per treatment cost structure, installation and maintenance of the device, on-site training for personnel, and comprehensive customer support, ensuring that clinics can deliver the best possible care to their patients.
Looking ahead, STRATA aims to further drive utilization and placements of its XTRAC® and TheraClear®X systems, explore new geographic opportunities, and enhance patient-focused marketing to increase awareness and adoption of their treatments. STRATA is committed to improving the operating results and delivering value to shareholders, all while making a positive impact on dermatology patients worldwide.
Latest News:
- STRATA to host a conference call and webcast today, March 27, 2024, at 4:30 PM ET.
- Fourth Quarter and Full-Year 2023 revealed pivotal growth and product innovation despite a net loss of $3.8 million in Q4 2023.
- Exclusive distribution agreements maintained in China, Japan, and South Korea, contributing nearly a third of total revenue in 2023.
STRATA Skin Sciences (NASDAQ: SSKN), a medical technology company focused on dermatologic treatments, has announced its participation in the Benchmark Company 13th Annual Discovery Investor Conference. The event will take place on Wednesday, December 11, 2024, at the New York Athletic Club in New York City.
Dr. Dolev Rafaeli, President and Chief Executive Officer, will be available for one-on-one meetings with analysts and investors throughout the conference day. Interested attendees can arrange meetings through their Benchmark Company representative, and general conference registration is available online.
STRATA Skin Sciences (NASDAQ: SSKN) reported Q3 2024 revenue of $8.8 million, down 1% year-over-year. Global net recurring revenue increased 2% to $5.4 million. The company achieved its first non-GAAP operating profit of $128,000 since 2018, excluding a one-time $1.8 million tax accrual. Gross margin improved to 60.3% from 56.0% year-over-year. The domestic installed base reached 873 XTRAC® devices and 135 TheraClear®X devices. The company raised $2.1 million through a stock offering in July 2024. Net loss was $2.1 million or $0.53 per share, compared to a net loss of $1.1 million or $0.30 per share in Q3 2023.
STRATA Skin Sciences (NASDAQ: SSKN) announces a favorable court order in its complaint against LaserOptek, Monarch Laser Services, and The Pinnacle Health Group. The order, issued by the US District Court for Eastern Pennsylvania, enjoins LaserOptek and Pinnacle from marketing Pallas lasers with claims about CPT Codes 96920-96922 reimbursement and prohibits false statements about Pallas or STRATA lasers. The ruling follows STRATA's August 2024 complaint citing unfair competition. The company will continue pursuing claims for equitable and monetary relief, defending against what it describes as misleading practices regarding non-excimer laser reimbursement claims.
STRATA Skin Sciences (NASDAQ: SSKN), a medical technology company focused on dermatologic treatments, announces its upcoming third quarter 2024 financial results release on November 13, 2024, after market close. Management will host a conference call at 4:30 p.m. ET the same day, including a Q&A session. U.S. participants can dial 1-844-481-2523, while international callers should use 1-412-317-0552. A webcast replay will be available until May 13, 2025, and a telephonic replay until November 20, 2024, using access code 4851779.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced that its Japanese distributor, JMEC Co., , sponsored a seminar featuring two lectures on XTRAC® excimer devices at the 75th Annual Meeting of the Chubu Branch of the Japanese Dermatological Association in Nagoya, Japan on October 12, 2024. The seminar, chaired by Professor Kazutoshi Harada of Tokyo Medical University, included presentations by:
1. Dr. Nobuhiro Nouchi from Nouchi Dermatology Clinic, discussing successful treatment of vitiligo and alopecia areata using XTRAC® excimer laser.
2. Dr. Osamu Norisugi from Keyaki Dermatology Clinic, sharing his clinic's experience in treating psoriasis, vitiligo, and alopecia areata with XTRAC® excimer laser since 2020.
This event highlights the growing recognition and use of STRATA's XTRAC® technology in the Japanese dermatology market.
STRATA Skin Sciences (NASDAQ: SSKN), a medical technology company focused on dermatologic treatments, announces its participation in the 2024 Maxim Healthcare Virtual Summit. President and CEO Dr. Dolev Rafaeli will engage in a fireside chat with Maxim's Director of Research and Senior Healthcare Analyst Anthony Vendetti on Wednesday, October 16, 2024, at 11:30am ET.
The virtual conference runs from October 15 to 17, 2024. Investors can access the fireside chat via webcast at https://m-vest.com/events/healthcare-10152024. Additionally, Dr. Rafaeli and STRATA V.P. Finance John Gillings will be available for one-on-one meetings with registered conference investors.
STRATA Skin Sciences (NASDAQ: SSKN), a medical technology company focused on dermatologic conditions, announces its participation in the iAccess Alpha - Buyside Best Ideas Fall Conference 2024. The virtual event is scheduled for September 24-25, 2024.
Key details:
- President and CEO Dr. Dolev Rafaeli will present a corporate overview on September 24, 2024, at 12:30 PM ET
- Presentation webcast available at: https://www.webcaster4.com/Webcast/Page/3064/51242
- Dr. Rafaeli and V.P. Finance John Gillings will be available for one-on-one meetings with registered investors
- Investors can register and schedule meetings at: https://www.iaccessalpha.com/signup
This presentation offers an opportunity for investors to gain insights into STRATA's innovative products and market strategy in the dermatology sector.
STRATA Skin Sciences (NASDAQ: SSKN), a medical technology company focused on dermatologic treatments, has announced its participation in the Lake Street Capital Markets 8th Annual Best Ideas Growth Conference. The event is scheduled for September 12, 2024, at the Yale Club in Midtown Manhattan, New York City.
Dr. Dolev Rafaeli, President and CEO of STRATA, will represent the company at the conference. STRATA will be hosting one-on-one investor meetings throughout the event, providing an opportunity for investors to engage directly with the company's leadership. Interested parties can schedule meetings through their Lake Street representatives.
This participation underscores STRATA's commitment to investor relations and its ongoing efforts to showcase its innovative products in the dermatologic field to potential investors and industry professionals.
STRATA Skin Sciences (NASDAQ: SSKN), a medical technology company focused on dermatologic treatments, announces its participation in the H.C. Wainwright 26th Annual Global Investment Conference. The event will take place from September 9-11, 2024 at the Lotte New York Palace Hotel.
Key points:
- President and CEO Dr. Dolev Rafaeli will present a corporate overview
- Presentation will be available on-demand starting September 9, 2024, at 7:00 am ET
- Investors can register for the conference at https://hcwevents.com/annualconference/
- Dr. Rafaeli and V.P. Finance John Gillings will be available for one-on-one meetings with registered investors
STRATA Skin Sciences (NASDAQ: SSKN) has filed a complaint against LaserOptek, Monarch Laser Services (MLS), and The Pinnacle Health Group for unfair competition and false advertising regarding the marketing and sales of Pallas laser devices. The lawsuit, filed in the U.S. District Court for the Eastern District of Pennsylvania, alleges that the defendants:
- Misrepresented the reimbursement eligibility of Pallas lasers for psoriasis treatments
- Made false claims about the equivalence and superiority of Pallas lasers to STRATA's XTRAC® devices
- Misused FDA clearance to make misleading statements
- Caused harm to public interest through fraudulent reimbursement practices
STRATA seeks injunctive relief, damages, and legal cost reimbursement to protect its 4,000 partners and patients using their proven excimer devices for dermatology treatments.
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