Cutera, Inc. Announces Fourth Quarter and Full-Year 2020 Financial Results

BRISBANE, Calif.–(BUSINESS WIRE)–Feb 17, 2021–
Cutera, Inc. (NASDAQ: CUTR ) (“Cutera” or the “Company”), a leading provider of laser and other energy-based aesthetic systems for practitioners worldwide, today reported financial results for the fourth quarter and full year ended December 31, 2020.
Fourth Quarter 2020 Financial and Operational Highlights

  • Revenue was $49.9 million in the fourth quarter, a decrease of 4% from the prior-year period and an increase of 28% sequentially. The year-over-year decline was solely attributed to lower levels of capital equipment purchases due to COVID-related disruptions, while patient traffic and energy-based treatment volumes were estimated to be at pre-COVID-19 levels during the quarter.
    • Capital Equipment revenue of $30.1 million declined 26% over the prior-year period, while increasing 25% sequentially over the third quarter of 2020.
    • Recurring revenue, defined as the combination of Service, Skincare and Consumable Product categories, was $19.8 million during the fourth quarter, growing 80% over the prior-year period and 32% sequentially over the third quarter of 2020.
      • Skincare revenue was $10.6 million during the quarter, compared to $2.3 million in the prior-year period, growth of 363%.
      • Consumable Product revenue was $3.0 million, growing 19% over the prior-year period and 31% sequentially from the third quarter of 2020, reflecting the continued recovery of energy-based treatment volumes.
      • Service revenue of $6.2 million was flat versus the prior-year period, despite decreased access to practices from COVID-related restrictions.
  • Gross Margin was 56.2% for fourth quarter 2020 compared to 55.6% in the prior-year period. Impacts from lower capital equipment production volumes and product mix shift were offset by reductions in fixed overhead and manufacturing efficiencies.
  • Operating Expense improvements provided a year-over-year reduction of $4.1 million in the quarter, driven by lower selling expenses, partially offset by legal expenses.
  • Net income was $2.2 million, or $0.12 per fully diluted share, as compared to a net loss of ($2.1) million, or ($0.15) per fully diluted share, in the prior-year period.

Full-Year 2020 Financial and Operational Highlights

  • Revenue was $147.7 million, compared to $181.7 million in 2019.
    • Capital Equipment revenue of $90.8 million decreased 35% over 2019.
    • Recurring Revenue of $56.9 million increased 38% over 2019, driven by Skincare increase of $16.5M over 2019.
  • Gross Margin was 51.3% for full-year 2020, as compared to 54.0% in 2019.
  • Operating Expenses decreased $11.6 million to $98.6 million, a decline of 11% over 2019.
  • Net loss was $23.9 million, or ($1.43) per fully diluted share, as compared to a net loss of $12.3 million, or ($0.88) per fully diluted share, in 2019.

“I am pleased with our overall results for the fourth quarter and by the efforts our team put forth over the entirety of 2020. Our team’s commitment to execution drove steady improvement during the second half of 2020, posting solid results despite the difficult operating environment,” commented Dave Mowry, Chief Executive Officer of Cutera, Inc. “Our focus and resiliency enabled us to make steady progress on our vital commercial and operational initiatives during 2020. As a result of these efforts, we enter 2021 well-positioned to accelerate growth and expand profitability as the impact of COVID-19 continues to wane. I am particularly excited about what lies ahead for Cutera, as we work to bring truly innovative products to market and continue to fortify our business with greater discipline to sustain our financial performance.”
2021 Outlook
Given the continued uncertainty surrounding the magnitude and duration of the COVID-19 pandemic, the wide range of outcomes for its impact on capital sales, and its potential to delay procedure volumes over the course of the year, the Company will not be providing formal guidance at this time.
Conference Call
The Company’s management will host a conference call to the discuss these results and related matters today at 1:30 p.m. PT (4:30 p.m. ET). Participating on the call will be Dave Mowry, Chief Executive Officer, Rohan Seth, Chief Financial Officer, and, Jason Richey, President.
To participate in the conference call, dial 1-877-705-6003 (domestic) or + 1-201-493-6725 (international) and refer to the Conference Code: 13715746.
The call will also be webcast and can be accessed from the Investor Relations section of Cutera’s website at http://www.cutera.com/. The webcast replay of the call will be available at the same site approximately one hour after the end of the call.
About Cutera, Inc.
Brisbane, California-based Cutera is a leading provider of laser and other energy-based aesthetic systems for practitioners worldwide. Since 1998, Cutera has developed innovative, easy-to-use products that enable physicians and other qualified practitioners to offer safe and effective aesthetic treatments to their patients. For more information, call 1-888-4CUTERA or visit www.cutera.com.
*Use of Non-GAAP Financial Measures
In this press release, in order to supplement the Company’s condensed consolidated financial statements presented in accordance with Generally Accepted Accounting Principles, or GAAP, management has disclosed certain non-GAAP financial measures for the statement of operations and net income (loss) per diluted share. Non-GAAP adjustments include stock-based compensation, depreciation, amortization, executive and other non-recurring separation costs, customer relationship management (“CRM”) and enterprise resource planning (“ERP”) system costs, and non-recurring legal and litigation costs, as well as the net tax impact of excluding these items. From time to time in the future, there may be other items that we may exclude if the Company believes that doing so is consistent with the goal of providing useful information to investors and management. The Company has provided a reconciliation of each non-GAAP financial measure used in this earnings release to the most directly comparable GAAP financial measure. Forward-looking non-GAAP measures include adjusted EBITDA. The Company defines adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, stock-based compensation, executive and other non-recurring separation costs, CRM and ERP system costs, and non-recurring legal and litigation costs.
Company management uses these measurements as aids in monitoring the Company’s ongoing financial performance from quarter to quarter, and year to year, on a regular basis and for benchmarking against other similar companies. Non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. These non-GAAP financial measures should be considered along with, but not as alternatives to, the operating performance measure as prescribed by GAAP. Non-GAAP financial measures for the statement of operations and net income per diluted share exclude the following:
Non-cash expenses for stock-based compensation.The Company has excluded the effect of stock-based compensation expenses in calculating its non-GAAP operating expenses and net income measures. Although stock-based compensation is a key incentive offered to its employees, the Company continues to evaluate its business performance excluding stock-based compensation expenses. The Company records stock-based compensation expense related to grants of options, employee stock purchase plan, and performance and restricted stock. Depending upon the size, timing and the terms of the grants, this expense may vary significantly but will recur in future periods. The Company believes that excluding stock-based compensation better allows for comparisons to its peer companies;
Depreciation and amortization.The Company has excluded depreciation and amortization expense in calculating its non-GAAP operating expenses and net income measures. Depreciation and amortization are non-cash charges to current operations;
Executive and other non-recurring separation costs.We have excluded costs associated with the resignation of our former Executive Officers in calculating our non-GAAP operating expenses and net income measures. We exclude these and other non-recurring employee separation costs because we believe that these items do not reflect future operating expenses;
Customer Relationship Management.We have excluded CRM system costs related to direct and incremental costs incurred in connection with our multi-phase implementation of a new CRM solution and the related technology infrastructure costs. We exclude these costs because we believe that these items do not reflect future operating expenses and will be inconsistent in amounts and frequency making it difficult to contribute to a meaningful evaluation of our operating performance;
Enterprise Resource Planning.We have excluded ERP system costs related to direct and incremental costs incurred in connection with our multi-phase implementation of a new ERP solution and the related technology infrastructure costs. We exclude these costs because we believe that these items do not reflect future operating expenses and will be inconsistent in amounts and frequency making it difficult to contribute to a meaningful evaluation of our operating performance; and
Non-recurring legal and litigation costs. We have excluded costs incurred related to third party litigation and disputes, that are of a non-recurring nature.
The Company believes that excluding all of the items above allows users of its financial statements to better review and assess both current and historical results of operations.
Safe Harbor Statement
Certain statements in this press release, other than purely historical information, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements include, but are not limited to, Cutera’s plans, objectives, strategies, financial performance and outlook, CFO and other senior leadership searches, product launches and performance, trends, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, the Company’s actual financial results, performance, achievements or prospects may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “seek,” “guidance,” “predict,” “potential,” “likely,” “believe,” “will,” “should,” “expect,” “anticipate,” “estimate,” “plan,” “intend,” “forecast,” “foresee” or variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements are based on management’s current, preliminary expectations and are subject to risks and uncertainties, which may cause Cutera’s actual results to differ materially from the statements contained herein. These statements are not guarantees of future performance, and stockholders should not place undue reliance on forward-looking statements. There are a number of risks, uncertainties and other important factors, many of which are beyond the Company’s control, that could cause its actual results to differ materially from the forward-looking statements contained in this press release, including those described in the “Risk Factors” section of Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, the Registration Statement on Form S-8 and other documents filed from time to time with the United States Securities and Exchange Commission by Cutera.
All information in this press release is as of the date of its release. Accordingly, undue reliance should not be placed on forward-looking statements. Cutera undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. Cutera’s financial performance for the fourth quarter and full year ended December 31, 2020, as discussed in this release, is preliminary and unaudited, and subject to adjustment.
The financial data presented for the year ended December 31, 2020 should be considered preliminary and could be subject to change, as the Company’s independent auditor has not completed their audit.

CUTERA, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
 
December 31,   December 31,
Reporting Unit Balance Sheet 2020   2019
Assets
Current assets:
Cash and cash equivalents $ 47,047   $ 26,316
Marketable investments       7,605
Accounts receivable, net   22,645     21,556
Inventories   28,508     33,921
Other current assets and prepaid expenses   8,096     5,648
Total current assets   106,296     95,046
     
Property and equipment, net   2,299     2,817
Deferred tax asset   643     423
Goodwill   1,339     1,339
Operating lease right-of-use assets   17,076     7,702
Other long-term assets   5,080     6,411
Total assets $ 132,733   $ 113,738
     
Liabilities and Stockholders’ Equity      
Current liabilities:      
Accounts payable $ 6,684   $ 12,685
Accrued liabilities   31,079     30,307
Operating leases liabilities   2,260     2,800
Extended warranty liabilities   1,216     1,999
Deferred revenue   9,489     10,831
Total current liabilities   50,728     58,622
     
Deferred revenue, net of current portion   1,748     3,391
Income tax liability       93
PPP Loan payable   7,185    
Operating lease liabilities, net of current portion   15,950     5,112
Other long-term liabilities   242     578
Total liabilities   75,853     67,796
     
Stockholders’ equity:      
Common stock   18     14
Additional paid-in capital   117,097     82,346
Accumulated deficit   (60,235)     (36,358)
Accumulated other comprehensive loss       (60)
Total stockholders’ equity   56,880     45,942
Total liabilities and stockholders’ equity $ 132,733   $ 113,738
CUTERA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
 
Three Months Ended   Twelve Months Ended
             
December 31,   December 31,   December 31,   December 31,
2020   2019   2020   2019
 
Products $ 43,723   $ 45,593     125,113   $ 158,638
Service   6,220     6,202     22,570     23,074
Total net revenue   49,943     51,795     147,683     181,712
             
Products   17,999     18,415     58,325     64,693
Service   3,878     4,590     13,586     18,856
Total cost of revenue   21,877     23,005     71,911     83,549
Gross profit   28,066     28,790     75,772     98,163
Gross margin %   56%     56%     51%     54%
             
Operating expenses:              
Sales and marketing   14,656     20,323     52,766     71,109
Research and development   4,029     4,463     14,322     15,085
General and administrative   7,938     5,933     31,512     24,033
Total operating expenses   26,623     30,719     98,600     110,227
Income (Loss) from operations   1,443     (1,929)     (22,828)     (12,064)
Interest and other income (expense), net   7     (20)     (579)     (199)
Income (Loss) before income taxes   1,450     (1,949)     (23,407)     (12,263)
Income tax expense (benefit)   (738)     139     470     85
Net Income (loss) $ 2,188   $ (2,088)   $ (23,877)   $ (12,348)
             
Net Income (loss) per share:              
Basic $ 0.12   $ (0.15)   $ (1.43)   $ (0.88)
Diluted $ 0.12   $ (0.15)   $ (1.43)   $ (0.88)
 
Weighted-average number of shares used in per share calculations:
Basic   17,653     14,261     16,691     14,096
Diluted   17,840     14,261     16,691     14,096
CUTERA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
 
Three Months Ended   Twelve Months Ended
December 31,   December 31,   December 31,   December 31,
2020   2019   2020   2019
Cash flows from operating activities:
Net income (loss) $ 2,188 $ (2,088) $ (23,877) $ (12,348)
Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation   2,052   2,828   10,109   9,832
Depreciation of tangible assets   338   364   1,394   1,548
Amortization of contract acquisition costs   579   746   2,593   2,915
Impairment of capitalized cloud computing costs       805  
Change in deferred tax asset   (143)   36   (220)   34
Provision for credit losses   394   (57)   2,144   590
Loss on sale of marketable investments, net     60  
Change in right-of-use asset/liability due to modification   705     955  
Other   183   72   453   127
Changes in assets and liabilities:
Accounts receivable   (5,442)   1,723   (3,233)   (2,509)
Inventories   825   121   5,413   (5,907)
Other current assets and prepaid expenses   (1,208)   (339)   (2,481)   (1,762)
Other long-term assets   (1,009)   (747)   (2,067)   (3,355)
Accounts payable   (148)   (1,455)   (6,034)   1,406
Accrued liabilities   5,450   2,257   891   7,157
Extended warranty liabilities   (281)   (233)   (783)   (1,160)
Other long-term liabilities         (140)
Deferred revenue   (587)   749   (2,985)   1,656
Income tax liability   (93)     (93)   (301)
Net cash provided by (used in) operating activities   3,803   3,977   (16,956)   (2,217)
 
Cash flows from investing activities:
Acquisition of property, equipment and software   (505)   (467)   (1,279)   (991)
Disposal of property and equipment   30     30   45
Proceeds from sales of marketable investments   5,648     5,648  
Proceeds from maturities of marketable investments   9,050   3,250   28,050   14,700
Purchase of marketable investments   (1,649)   (4,383)   (26,060)   (12,687)
Net cash provided by (used in) investing activities   12,574   (1,600)   6,389   1,067
 
Cash flows from financing activities:
Proceeds from exercise of stock options and employee stock purchase plan   723   1,294   1,579   2,894
Proceeds from long-term debt       7,167  
Gross proceeds from equity offering       28,798  
Offering costs on the equity offering       (2,303)  
Taxes paid related to net share settlement of equity awards   (88)   (81)   (3,428)   (831)
Payments on finance lease obligations   (2)   (153)   (515)   (649)
Net cash provided by financing activities   633   1,060   31,298   1,414
 
Net increase in cash and cash equivalents   17,010   3,437   20,731   264
Cash and cash equivalents at beginning of period   29,394   22,879   26,316   26,052
Cash and cash equivalents at end of period $ 46,404 $ 26,316 $ 47,047 $ 26,316
CUTERA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(in thousands, except percentage data)
(unaudited)
 
Three Months Ended   % Change   Twelve Months Ended   % Change
December 31,   December 31,   2020 Vs   December 31,   December 31,   2020 Vs
2020   2019   2019   2020   2019   2019
Revenue By Geography:
United States $ 21,060   $ 31,271   -33%   $ 61,202   $ 106,243   -42%
International   28,883     20,524   +41%     86,481     75,469   +15%
Total Net Revenue $ 49,943   $ 51,795   -4%   $ 147,683   $ 181,712   -19%
International as a percentage of total revenue   58%     40%         59%     42%    
                     
Revenue By Product Category:                      
Systems                      
– North America $ 18,426   $ 28,526   -35%   $ 50,721   $ 96,718   -48%
– Rest of World   11,719     12,246   -4%     40,045     43,760   -8%
Total Systems   30,145     40,772   -26%     90,766     140,478   -35%
Consumables   3,023     2,539   +19%     9,286     9,648   -4%
Skincare   10,555     2,282   +363%     25,061     8,512   +194%
Total Products   43,723     45,593   -4%     125,113     158,638   -21%
                     
Service   6,220     6,202   +0%     22,570     23,074   -2%
Total Net Revenue $ 49,943   $ 51,795   -4%   $ 147,683   $ 181,712   -19%
 
 
 
Three Months Ended       Twelve Months Ended
December 31,   December 31,       December 31,   December 31,
2020   2019       2020   2019
Pre-tax Stock-Based Compensation Expense:
Cost of revenue $ 306   $ 469       $ 1,665   $ 1,572
Sales and marketing   767     1,430         3,385     4,510
Research and development   325     460         1,669     1,536
General and administrative   654     469         3,390     2,214
$ 2,052   $ 2,828       $ 10,109   $ 9,832
CUTERA, INC.
RECONCILIATION OF GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
TO NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
 
 
Three Months Ended December 31, 2020 Three Months Ended December 31, 2019
GAAP Depreciation
and
Amortization
Stock-Based
Compensation
Legal – Former CFO
Settlement/Lutronic
Taxes and
Other Adjustments
Non-GAAP GAAP Depreciation
and
Amortization
Stock-Based
Compensation
CRM and ERP
Implementation/
write-off
Taxes and
Other Adjustments
Non-GAAP
 
Net revenue $ 49,943             $ 49,943   $ 51,795                   $ 51,795  
Cost of revenue   21,877     (174 )   (306 )       275     21,672     23,005     (136 )   (469 )           22,400  
Gross profit   28,066     174     306         (275 )   28,271     28,790     136     469             29,395  
Gross margin %   56 %           57 %   56 %           57 %
                       
Operating expenses:                        
Sales and marketing   14,656     (682 )   (767 )           13,207     20,323     (910 )   (1,430 )   (124 )       17,859  
Research and development   4,029     (34 )   (325 )           3,670     4,463     (35 )   (460 )           3,968  
General and administrative   7,938     (27 )   (654 )   (566 )       6,691     5,933     (29 )   (469 )   41         5,476  
Total operating expenses   26,623     (743 )   (1,746 )   (566 )       23,568     30,719     (974 )   (2,359 )   (83 )       27,303  
Income (loss) from operations   1,443     917     2,052     566     (275 )   4,703     (1,929 )   1,110     2,828     83         2,092  
Interest and other expense, net   7                     7     (20 )                   (20 )
Income (loss) before income taxes   1,450     917     2,052     566     (275 )   4,710     (1,949 )   1,110     2,828     83         2,072  
Provision (benefit) for income taxes   (738 )                   (738 )   139                 (201 )   (62 )
Net income (loss) $ 2,188   $ 917   $ 2,052   $ 566   $ (275 ) $ 5,448   $ (2,088 ) $ 1,110   $ 2,828   $ 83   $ 201   $ 2,134  
                       
Net income (loss) per share:                        
Basic $ 0.12           $ 0.31   $ (0.15 )         $ 0.15  
Diluted $ 0.12           $ 0.31   $ (0.15 )         $ 0.14  
                       
Weighted-average number of shares used in per share calculations:                        
Basic   17,653             17,653     14,261             14,261  
Diluted   17,840             17,840     14,261             14,904  
 
 
Operating expenses as a % of net revenue GAAP Non-GAAP GAAP Non-GAAP
Sales and marketing   29.2 %           26.4 %   39.2 %           34.5 %
Research and development   8.1 %           7.2 %   8.6 %           7.7 %
General and administrative   15.9 %           13.4 %   11.5 %           10.6 %
  53.3 %           47.2 %   59.3 %           52.7 %
CUTERA, INC.
RECONCILIATION OF GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
TO NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
 
 
Twelve Months Ended December 31, 2020 Twelve Months Ended December 31, 2019
GAAP Depreciation
and
Amortization
Stock-Based
Compensation
CRM and ERP
Implementation/write-off
Severance (RIF) Legal -Former CFO Settlement/Lutronic Taxes and
Other Adjustments
Non-GAAP GAAP Depreciation
and
Amortization
Stock-Based
Compensation
CRM and ERP
Implementation/ write-off
Taxes and
Other Adjustments
Non-GAAP
 
Net revenue $ 147,683                   $ 147,683   $ 181,712   $   $   $   $   $ 181,712  
Cost of revenue   71,911     (591 )   (1,665 )       (318 )       275     69,612     83,549     (522 )   (1,572 )           81,455  
Gross profit   75,772     591     1,665         318         (275 )   78,071     98,163     522     1,572             100,257  
Gross margin %   51 %   53 %   54 %   55 %
 
Operating expenses:
Sales and marketing   52,766     (3,136 )   (3,384 )       (274 )         $ 45,972     71,109     (3,627 )   (4,510 )   (325 )       62,647  
Research and development   14,322     (149 )   (1,670 )       (130 )           12,373     15,085     (109 )   (1,536 )           13,440  
General and administrative   31,512     (111 )   (3,390 )   (1,139 )   (101 )   (1,925 )   (324 )   24,522     24,033     (205 )   (2,214 )   (1,089 )   (614 )   19,911  
Total operating expenses   98,600     (3,396 )   (8,444 )   (1,139 )   (505 )   (1,925 )   (324 )   82,867     110,227     (3,941 )   (8,260 )   (1,414 )   (614 )   95,998  
Income (loss) from operations   (22,828 )   3,987     10,109     1,139     823     1,925     49     (4,796 )   (12,064 )   4,463     9,832     1,414     614     4,259  
Interest and other expense, net   (579 )                       (579 )   (199 )                   (199 )
Income (loss) before income taxes   (23,407 )   3,987     10,109     1,139     823     1,925     49     (5,375 )   (12,263 )   4,463     9,832     1,414     614     4,060  
Provision (benefit) for income taxes   470                         9     479     85                 87     172  
Net income (loss) $ (23,877 ) $ 3,987   $ 10,109   $ 1,139   $ 823   $ 1,925   $ 40   $ (5,854 ) $ (12,348 ) $ 4,463   $ 9,832   $ 1,414   $ 527   $ 3,888  
 
Net income (loss) per share:
Basic $ (1.43 ) $ (0.35 ) $ (0.88 ) $ 0.28  
Diluted $ (1.43 ) $ (0.35 ) $ (0.88 ) $ 0.27  
 
Weighted-average number of shares used in per share calculations:
Basic   16,691     16,691     14,096     14,096  
Diluted   16,691     16,691     14,096     14,512  
 
 
 
Operating expenses as a % of net revenue GAAP Non-GAAP GAAP Non-GAAP
Sales and marketing   35.7 %   31.1 %   39.1 %   34.5 %
Research and development   9.6 %   8.3 %   8.3 %   7.4 %
General and administrative   21.3 %   16.6 %   13.2 %   11.0 %
  66.8 %   56.1 %   60.7 %   52.8 %
CUTERA, INC.
RECONCILIATION OF LOSS TO ADJUSTED EBITDA
(in thousands)
(unaudited)
 
 
Three Months Ended Twelve Months Ended
December 31, 2020
 
Net income (loss) $ 2,188   $ (23,877 )
Adjustments:
Stock-based compensation   2,052     10,109  
Depreciation and amortization   917     3,987  
CRM and ERP implementation costs       1,139  
Severance (RIF)       823  
Legal -Former CFO Settlement/Lutronic   566     1,925  
Other adjustments   (275 )   49  
Interest and other expense, net   (7 )   23,407  
Provision (benefit) for income taxes   (738 )   (23,407 )
Total adjustments $ 2,515   $ 18,032  
 
Adjusted EBITDA $ 4,703   $ (5,845 )

 
View source version on businesswire.com:https://www.businesswire.com/news/home/20210217005757/en/
CONTACT: Cutera, Inc.
Anne Werdan
Director, Investor Relations
415-657-5500
awerdan@cutera.com
KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA
INDUSTRY KEYWORD: GENERAL HEALTH HEALTH OTHER HEALTH MEDICAL DEVICES
SOURCE: Cutera, Inc.
Copyright Business Wire 2021.
PUB: 02/17/2021 04:01 PM/DISC: 02/17/2021 04:01 PM
http://www.businesswire.com/news/home/20210217005757/en