Preliminary, unaudited fourth quarter revenues in the range of $8.8 million to $8.85 million
Preliminary, unaudited fourth quarter recurring revenues in the range of $6.5 million to $6.55 million
Preliminary, unaudited fourth quarter revenues result in double digit growth
Domestic installed base increased by 36 placements in the fourth quarter, driven by strategic agreements with PE backed groups of clinics
HORSHAM, Pa., Jan. 13, 2020 (GLOBE NEWSWIRE) -- STRATA Skin Sciences, Inc. (NASDAQ:SSKN) (“STRATA” or the “Company”), a medical technology company in Dermatology and Plastic Surgery dedicated to developing, commercializing, and marketing innovative products for the treatment of dermatologic conditions, today reported its preliminary, unaudited fourth quarter 2019 revenues and key financial metrics.
- Preliminary, unaudited Q4 2019 revenues in the range of $8.8 million to $8.85 million, as compared to $8.0 million in the fourth quarter of 2018.
- Preliminary, unaudited Q4 2019 recurring revenue in the range of $6.5 million to $6.55 million as compared to $5.87 million in the fourth quarter of 2018.
- In Q4 2019, net XTRAC systems placed in domestic dermatologists’ offices was 36. Overall in the quarter, the Company placed 50 systems and removed 14 systems; 38 of the 50 placements were related to strategic agreements with private equity backed groups of clinics and 6 placements were comebacks of previous owners of excimer lasers (for a total of 19 comebacks in 2019).
- In Q4 2019, net XTRAC systems placed in international markets were 8, driven by the new distribution contract signed in Q3 2019.
- At December 31, 2019, total XTRAC systems placed domestically was 820, as compared to 746 systems placed as of December 31, 2018, a net increase of 74 systems. Total XTRAC systems placed internationally was 10, as compared to none as of December 31, 2018.
- Preliminary, unaudited cash and cash equivalents, including restricted cash was $15.6 million as of December 31, 2019, as compared to $16.2 million as of September 30, 2019. The decrease is primarily related to the refinancing and extinguishment of the Company’s existing term note and one-time legal and accounting expenses associated with the delinquent filings.