HORSHAM, PA — STRATA Skin Sciences, Inc. (NASDAQ: SSKN) this week reported preliminary, unaudited fourth quarter 2021 financial results.
Fourth Quarter and Full Year 2021 Financial Highlights
- Preliminary, unaudited total revenue is expected to range from $8.8 million to $9.2 million, compared to $6.7 million in the fourth quarter of 2020
- Preliminary, unaudited total revenue for the full year 2021 is expected to range from $29.7 million to $30.1 million, compared to $23.1 million for the full year 2020
- Cash and cash equivalents, including restricted cash was $12.5 million as of December 31, 2021, as compared to $18.1 million as of December 31, 2020
Fourth Quarter 2021 Operational Highlights
- Placed 34 domestic XTRAC systems, resulting in net systems placed in U.S. dermatologists’ offices of 890, of which 18 are comebacks from previous excimer device owners.
- Increased international partner XTRAC clinics to 54, up from 28 in 2020 and 10 in 2019
- Converted 17 Pharos systems acquired from Ra Medical’s U.S. dermatology business to STRATA’s recurring revenue model
- Hired Christopher Lesovitz as CFO
“We were pleased with the strong results our team delivered through the fourth quarter of 2021, which were bolstered by favorable year-end insurance claims and strong commercial execution by the entire STRATA team. Despite headwinds from the Delta and Omicron variants, STRATA continued to make meaningful progress on our strategic initiatives, which were reflected in the quality of our preliminary financial results,” said Robert Moccia, President & CEO of STRATA Skin Sciences.
“Subsequent to year end, we were also delighted to complete the acquisition of Theravant Corporation’s acne treatment device assets, enabling us to enter the $5.5 billion U.S. acne care market. The acquisition represents STRATA’s second strategic asset purchase in six months, both of which were executed under new leadership and further establish STRATA’s position as the global leader of clinical dermatology devices,” concluded Moccia.
The preliminary unaudited results described in the Company’s announcement are estimates and are subject to revision until the company reports its full financial results for the year ended December 2021, which is anticipated in mid-March.
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