The following is a summary of the STRATA Skin Sciences, Inc. (SSKN) Q2 2024 Earnings Call Transcript:
Financial Performance:
STRATA reported Q2 2024 total revenue of $8.4 million, up 2% year-over-year.
Net loss from operations improved, decreasing by $1.5 million to approximately $500,000.
Gross profit increased to $4.9 million with a gross margin of 58.5%, up from 52.3% in Q2 2023.Equipment revenue grew 11% year-over-year to $3.1 million, driven by strategic redeployment of XTRAC devices.
Business Progress:
Expanded Direct-To-Consumer (DTC) marketing from four to 28 areas nationally, decreasing cost per lead and appointment, and growing patient appointments for XTRAC treatments.
Reduced total operating expenses by approximately $860,000 or 14% year-over-year.
Continued efforts to optimize XTRAC device deployment, reducing the installed base from 907 to 881 units to enhance utilization rates and equipment revenue.
Growing TheraClearX device installations for acne treatment, with an increase to 117 devices.
Opportunities:
Increased focus on DTC marketing is likely to continue enhancing patient awareness and appointments for XTRAC treatments in more areas.
Strategic redeployment of XTRAC devices expected to improve procedural volume and equipment revenue further.
Expansion of TheraClearX devices in national dermatology clinic groups and high acne volume accounts offers a significant opportunity in the acne treatment market.
Risks:
Decline in gross domestic recurring billing by 6% year-over-year, continuing from a 3% decline in Q1 following a trend of more significant declines in previous years.
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