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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, Inc. (NASDAQ: SSKN) announced it will release its fourth quarter 2022 financial results on March 28, 2023, at 4:30 PM EDT. A conference call will be conducted to discuss the results and provide a corporate update. Interested parties can join the call using the numbers provided or view the webcast. STRATA specializes in products for treating dermatologic conditions such as psoriasis and acne.
STRATA Skin Sciences (NASDAQ: SSKN) has confirmed it has no financial ties or exposure to Silicon Valley Bank, stating that it does not hold cash deposits or securities with the bank. The company is focused on developing and marketing innovative dermatologic treatment technologies, including the XTRAC® and Pharos® lasers, as well as the TheraClear®X Acne Therapy System. STRATA utilizes a Partnership Program to provide in-office treatment options, emphasizing a service-oriented approach over traditional equipment purchases.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced the launch of a new XTRAC® website on March 2, 2023. The site aims to enhance patient education about XTRAC excimer laser therapy for conditions like psoriasis and eczema. Key features include a Practice Finder tool, patient testimonials, and a Savings Program. CEO Bob Moccia emphasized the goal of increasing product awareness and improving patient access to treatment. The XTRAC device allows for targeted UVB light therapy, catering to a diverse patient base.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced on February 27, 2023, that it has regained compliance with Nasdaq's minimum bid price requirements under Rule 5550(a)(2). CEO Robert Moccia expressed optimism about the company's future growth prospects following this compliance notification. STRATA focuses on innovative products for dermatologic treatments, including the XTRAC and Pharos excimer lasers and the TheraClear X Acne Therapy System, employing a unique Partnership Program to facilitate treatment access. The company highlights its ongoing commitment to expand its product offerings and market presence.
HORSHAM, Pa., Feb. 16, 2023 - STRATA Skin Sciences (NASDAQ: SSKN) announced Dr. Joel L. Cohen will demonstrate the TheraClear®X device for acne treatment at the Winter Clinical Conference in Miami from February 17-20, 2023. The TheraClearX, FDA-cleared for mild to moderate acne, combines vacuum technology and intense broadband light to deliver results after just two treatments, with a recommended 4-6 sessions for optimal outcomes. STRATA's partnership program provides practices with a fee per treatment cost structure, including training and marketing support. Forward-looking statements about the product and market strategies highlight potential uncertainties affecting performance.
STRATA Skin Sciences (NASDAQ: SSKN) announced preliminary revenue for 2022 between $35-$36 million, a 17-19% increase from $30 million in 2021, exceeding previous guidance of $33-$35 million. The company attributed this growth to enhanced XTRAC® usage, refurbishing underutilized devices, and expanding international sales. CEO Bob Moccia expressed optimism about maintaining this growth momentum into 2023. These figures are unaudited and could be revised before the full financial results, expected in March 2023.
STRATA Skin Sciences (NASDAQ: SSKN) announced that a poster detailing the efficacy of its TheraClearX acne system was accepted for presentation at the ODAC Dermatology Conference from January 12-15, 2023. The study involved 10 patients with mild to moderate acne who underwent tailored photopneumatic therapy (PPT). All participants experienced visible reductions in acne lesions, with improvements noted in skin texture and pore size. Most responded positively after 2-3 sessions, showcasing the system's efficacy and safety. The findings reinforce STRATA's commitment to advancing treatment options for acne.
STRATA Skin Sciences (NASDAQ: SSKN) has entered an exclusive agreement with MINO Labs to distribute its dermatological products in Mexico for three years. This partnership aims to tap into a nearly $300 million market for treating acne, psoriasis, and vitiligo, addressing a significant need as 80% of the Mexican population suffers from acne. MINO Labs brings over 20 years of experience in the pharmaceutical sector, ensuring effective distribution through established sales channels. This collaboration is expected to expand treatment options for patients in Mexico.
HORSHAM, Pa., Dec. 02, 2022 – STRATA Skin Sciences, a medical technology company focused on dermatologic treatments, announced its presentation at the Cantor Medical & Aesthetic Dermatology Conference on December 8, 2022, at 1:45 PM EST. The session, titled Aesthetically Pleasing & Medically Necessary, will explore leading devices in the field. STRATA Skin Sciences specializes in innovative products for conditions like psoriasis and acne, offering solutions like XTRAC® and TheraClear® systems via a unique partnership program.
STRATA Skin Sciences reported strong Q3 2022 financial results, achieving revenues of $9.4 million, a 22% increase from Q3 2021. International sales soared to $3.3 million, marking an 82% rise year-over-year. The company launched the TheraClear®X acne therapy system, positioning itself in the $5.5 billion acne treatment market. Despite this growth, gross profit fell to 61.6% of revenues, down from 69.7% in the same quarter last year. STRATA reiterated its 2022 revenue guidance of $33 million to $35 million.
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