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) announced its acquisition of Ra Medical's U.S. dermatology business for approximately $3.7 million. This strategic move positions STRATA as a leading provider in the $6 billion U.S. chronic skin disease treatment market.
The acquisition adds over 400 dermatology practices to STRATA's customer base, significantly enhancing its potential for recurring revenue growth. STRATA expects to see an increase in service contract revenue while integrating Ra Medical's customers into its business model.
STRATA Skin Sciences (NASDAQ: SSKN) plans to announce its Q2 2021 financial results on August 16, 2021, after market close. A conference call will follow at 4:30 p.m. ET to discuss the results and provide a corporate update. STRATA focuses on innovative dermatology technologies, including the XTRAC® excimer laser for treating conditions like psoriasis and vitiligo, affecting over 31 million patients in the U.S. DTC advertising and in-house support teams help drive patient volume for its partner clinics.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) has appointed Brent Cowgill as Vice President of Marketing, enhancing its focus on dermatology products. With over 20 years of experience in healthcare marketing, Cowgill aims to expand STRATA’s market presence and build on the success of its leading XTRAC excimer laser technology. This strategic hire aligns with STRATA’s priority to boost commercial execution and strengthen marketing efforts for its innovative dermatological solutions, which serve over 31 million patients in the U.S.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced its participation in the Oppenheimer MedTech, Tools & Diagnostics Summit on May 26, 2021. The presentation will be available on-demand, showcasing the company's innovative dermatologic treatment technologies like the XTRAC® excimer laser and VTRAC® lamp systems. These products target conditions affecting over 31 million patients in the U.S., including psoriasis and vitiligo. STRATA employs a Direct to Consumer advertising model to boost awareness and support its partner dermatology clinics.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) reported Q1 2021 financial results with total revenue of $5.8 million, down 13.4% from Q1 2020. Recurring revenue decreased 17.9% to $4.7 million. Gross margins also fell 1.7% to 63.7%. Cash reserves slightly decreased to $17.5 million from $18.1 million at year-end 2020. The company's CEO noted ongoing impacts from COVID-19 affecting patient access and revenue recognition. Notably, the global recurring revenue installed base grew to 871 XTRAC devices.
STRATA Skin Sciences (NASDAQ: SSKN) plans to announce its Q1 2021 financial results on May 12, 2021, after market close. A conference call will follow at 4:30 p.m. ET to discuss the results and provide corporate updates. The call will be webcasted, and details will be available on their website. STRATA specializes in innovative dermatological treatments, including the XTRAC excimer laser and VTRAC lamp systems, which target conditions like psoriasis and vitiligo affecting over 31 million patients in the U.S.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced the appointment of William D. Humphries to its Board of Directors. With over 34 years in the pharmaceutical industry, Humphries aims to bolster STRATA's growth in dermatology. He previously led Ortho Dermatologics and served as CEO of Merz’s North American business. STRATA focuses on innovative dermatologic treatments, including the patented XTRAC excimer laser, benefiting over 31 million patients in the U.S. This leadership change is expected to enhance the company's strategic direction and innovation.
STRATA Skin Sciences (SSKN) reported Q4 2020 revenues of $6.7 million, a 24.5% drop from Q4 2019. Global recurring revenue fell by 22.7% to $5.1 million, though it showed a 32.4% increase from Q3 2020. Gross profit margin was 67.6%, down from 68.8% year-over-year. For the full year, total revenue declined to $23.1 million from $31.6 million in 2019, with a net loss widening to $4.4 million. The company ended the year with $18.1 million in cash and a 30-device increase in its XTRAC device base to 860.
STRATA Skin Sciences, a leader in dermatology tech, announced its participation in the Lytham Partners Spring 2021 Investor Conference on March 30 at 3:30 p.m. ET. The event will include management presentations and virtual one-on-one meetings from March 30 to April 1, 2021. Interested parties can access the presentation via the company's website. STRATA specializes in innovative products for dermatologic conditions, including the XTRAC® excimer laser. With over 832 partner clinics and a global device base exceeding 2,300, STRATA aims to revolutionize skin disease treatment.
STRATA Skin Sciences (NASDAQ: SSKN) announced a study revealing effective vitiligo treatment using its XTRAC excimer laser, achieving satisfactory repigmentation in five sessions. Conducted in Japan, the study published in November 2020 indicates improved results over traditional therapies like UVB light. The XTRAC's higher irradiation rate was highlighted, along with reduced treatment burdens. STRATA aims to address the unmet need in Japan for vitiligo treatment, bolstered by positive clinical outcomes supporting its innovative technology.
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