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Strata Skin Sciences Inc. (SSKN) has filed its annual report on Form 10-K for the fiscal year ended December 31, 2024. filing
The report details the company's financial performance, including revenues of $33.6 million, a slight increase from $33.4 million in the previous year. The company's cost of revenues decreased to $14.5 million from $14.9 million, resulting in a gross profit of $19.1 million.
Operating expenses increased to $28.3 million from $27.1 million, driven by higher general and administrative costs and goodwill impairment charges. The company reported a net loss of $10.1 million, compared to a net loss of $10.8 million in the prior year.
Strata Skin Sciences' cash and cash equivalents totaled $8.6 million as of December 31, 2024. The company maintains a credit facility with MidCap Financial Trust, with $15.0 million in borrowings outstanding.
The company continues to face challenges related to the COVID-19 pandemic, supply chain disruptions, and geopolitical tensions, including the Russia-Ukraine War and Middle East conflict.
Strata Skin Sciences operates in two segments: Dermatology Recurring Procedures and Dermatology Procedures Equipment. The recurring procedures segment generated $21.2 million in revenues, while the equipment segment generated $12.4 million.
The company has ongoing legal proceedings related to state sales and use tax assessments, with total assessments of $5.2 million from New York and California.
Strata Skin Sciences is focused on expanding its market presence and increasing direct-to-patient advertising to drive growth in its recurring procedures segment.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Strata Skin Sciences Inc. annual 10-K report dated March 28, 2025. To report an error, please email earnings@qz.com.