Wed, May 15, 8:44 PM (72 days ago)
Strata Skin Sciences, Inc. reported a net loss of $3,368 for Q1 2024, reflecting a significant increase from the $2,835 loss in Q1 2023. Revenues decreased by 10.8% to $6,754, driven by declines in both dermatology recurring procedures and equipment sales. Gross profit fell to $3,080, down from $4,388, due to lower deferred revenue, reduced service billings, and higher depreciation costs. Operating expenses decreased slightly, with selling and marketing expenses dropping by 19.3% due to a reduced sales force. Interest expense increased to $524 due to higher rates and additional borrowings. Cash and equivalents stood at $6,571, down from $8,118 at year-end 2023. The company remains focused on managing liquidity amid ongoing challenges from COVID-19, geopolitical conflicts, and supply chain disruptions.