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, Inc. (NASDAQ: SSKN), a medical technology firm focused on dermatologic treatments, will release its Q3 2022 financial results on November 9, 2022. A conference call will follow at 4:30 PM EST to discuss the results and provide updates. The company offers innovative products such as the XTRAC® and Pharos® excimer lasers and the TheraClear® X Acne Therapy System, utilizing a unique partnership program that streamlines treatment accessibility for dermatologists.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced its participation in two upcoming investor events: the Microcap Rodeo: Windy City Roundup 2022 on October 12, 2022, and the LD Micro Main Event XV on October 26, 2022. At these events, the company will showcase its innovative dermatology products, including the XTRAC® and TheraClear® systems, which target conditions like psoriasis, acne, and vitiligo, impacting over 31 million patients in the U.S. STRATA employs a unique Direct to Consumer advertising model to boost awareness and patient volume for its partner dermatology clinics.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced its participation in the Inaugural Gilmartin Group Emerging Growth Company Showcase on August 31, 2022, at 3:30 PM ET. The event will be virtual, and management will present innovative advancements in dermatologic treatment technologies. Interested individuals can access the presentation via a live webcast through a provided link, with an archived version available on the company’s website post-event. STRATA focuses on developing treatments for conditions such as psoriasis and acne, impacting millions across the U.S.
STRATA Skin Sciences (NASDAQ: SSKN) reported second-quarter 2022 revenues of $9.1 million, a 23% increase from the previous year. Global recurring revenues remained stable at $5.6 million. The company launched TheraClear®X targeting the $5.5 billion acne care market. However, gross profit decreased to $5.0 million (55% margin) from $4.8 million (65% margin) due to higher amortization costs. A net loss of $1.9 million was recorded, compared to a net income of $1.1 million in Q2 2021. For 2022, STRATA anticipates revenue of $33.0 million to $35.0 million, indicating 10% to 17% growth.
STRATA Skin Sciences (NASDAQ: SSKN) announced the upcoming Key Opinion Leader (KOL) Call hosted by Ladenburg Thalmann on August 16, 2022, at 11:00 AM ET. Dr. Benjamin Lockshin will discuss the growing markets for psoriasis and vitiligo, emphasizing the role of STRATA’s XTRAC Excimer Laser in treatment outcomes. The call aims to highlight the company's innovative technologies, which include the XTRAC and Pharos excimer lasers and TheraClear X Acne Therapy System. Registration details for the live call are available on STRATA's website.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) announced plans to release its second quarter 2022 financial results on August 10, 2022, at 4:30 p.m. ET. The company will host a conference call to discuss these results and provide a corporate update, which will be available via webcast. STRATA specializes in developing and marketing innovative medical technologies for dermatologic conditions, including psoriasis and acne. Their offerings include excimer lasers and the new TheraClear®X Acne Therapy System.
STRATA Skin Sciences (NASDAQ: SSKN) has launched TheraClearX, a non-invasive acne treatment system, aimed at the $5.5 billion acne care market. The device utilizes a combination of vacuum technology and intense broadband light to target mild to moderate acne types. CEO Bob Moccia expressed confidence that this innovation will provide both dermatologists and patients with promising new treatment options, while contributing to the company's growth through its Partnership Program.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN), a leader in dermatologic medical technology, will participate in the Lytham Partners Summer 2022 Investor Conference on June 21-22, 2022. This virtual event will include one-on-one meetings with management, aimed at enhancing investor engagement.
STRATA focuses on innovative treatment solutions for various skin conditions, including psoriasis and acne, through products like the XTRAC and TheraClear systems. The company’s unique business model emphasizes Direct to Consumer advertising to grow its partner dermatology clinics.
STRATA Skin Sciences, Inc. (NASDAQ: SSKN) has appointed Michael E. Goodman as its Head of International Sales, a newly created position aimed at enhancing the company's global market presence. Goodman, who has nearly two decades of experience in medical laser sales, will lead strategies across Europe, Asia, and Latin America. His role involves providing insights for successful international sales expansion. STRATA develops innovative dermatologic products, including excimer lasers for treating skin conditions affecting over 31 million U.S. patients.
STRATA Skin Sciences (NASDAQ: SSKN) reported Q1 2022 revenue of $7.0 million, a 21% increase from Q1 2021. Gross profit was $4.1 million (59% of revenues), down from 64% YoY. The company recorded a net loss of $2.5 million, equivalent to a loss of $0.07 per share. The installed base of XTRAC devices reached 903. Strata anticipates 2022 revenues between $33 million and $35 million, reflecting an expected 10%-17% growth. The company plans to launch a new FDA-approved product in Q3 2022 and expand into new markets globally.
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