STRATA Skin Sciences, Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>STRATA Skin Sciences, Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing financial activities and corporate history.</b>

AI Summary

STRATA Skin Sciences, Inc. (SSKN) filed a Quarterly Report (10-Q) with the SEC on May 15, 2024. STRATA Skin Sciences, Inc. filed a 10-Q report for the period ending March 31, 2024. The company's fiscal year ends on December 31. STRATA Skin Sciences, Inc. was formerly known as MELA SCIENCES, INC. and ELECTRO OPTICAL SCIENCES INC. The filing includes data related to various financial instruments and equity offerings. The company's principal business address is in Horsham, PA.

Why It Matters

For investors and stakeholders tracking STRATA Skin Sciences, Inc., this filing contains several important signals. This 10-Q filing provides investors with an updated view of STRATA Skin Sciences' financial performance and position as of Q1 2024. Understanding the details within this report is crucial for assessing the company's operational status, financial health, and any potential risks or opportunities.

Risk Assessment

Risk Level: medium — STRATA Skin Sciences, Inc. shows moderate risk based on this filing. The filing is a standard 10-Q, which typically contains detailed financial information but does not inherently signal significant positive or negative events without further analysis of the specific numbers and narrative sections.

Analyst Insight

Review the detailed financial statements and management discussion and analysis within the 10-Q to identify trends in revenue, expenses, and cash flow.

Key Numbers

• 2024-03-31 — Period of Report (10-Q filing)
• 2024-05-15 — Filing Date (10-Q filing)
• 1231 — Fiscal Year End (Company fiscal year)

Key Players & Entities

• STRATA Skin Sciences, Inc. (company) — Filer name
• MELA SCIENCES, INC. (company) — Former company name
• ELECTRO OPTICAL SCIENCES INC (company) — Former company name
• 2024-03-31 (date) — Period of report
• 2024-05-15 (date) — Filing date
• Horsham, PA (location) — Business address

FAQ

Industry Context

STRATA Skin Sciences operates in the medical devices sector, specifically focusing on dermatological treatments and technologies.

Regulatory Implications

Companies like STRATA Skin Sciences are subject to SEC regulations for financial reporting, including the timely filing of 10-Q forms.

What Investors Should Do

1. Analyze the financial statements within the 10-Q for revenue, net income, and cash flow trends.
2. Examine any disclosed risk factors or legal proceedings that could impact the company.
3. Compare the current quarter's performance to previous periods to identify significant changes.

Key Dates

• 2024-03-31: Period End Date — End of the reporting quarter for the 10-Q filing.
• 2024-05-15: Filing Date — Date the 10-Q was officially filed with the SEC.

Glossary

10-Q

A quarterly report required by the U.S. Securities and Exchange Commission (SEC). (Provides investors with an update on the company's financial performance and condition during the quarter.)

Year-Over-Year Comparison

This is the initial analysis of the 10-Q filing for the period ending March 31, 2024. Previous filings would need to be analyzed for direct comparison.

Key Financial Figures

• $0.001 — nge On Which Registered Common Stock, $0.001 Par Value SSKN The Nasdaq Stock Mar

Filing Documents

• ef20026312_10q.htm (10-Q) — 1173KB
• ef20026312_ex31-1.htm (EX-31.1) — 12KB
• ef20026312_ex31-2.htm (EX-31.2) — 12KB
• ef20026312_ex32-1.htm (EX-32.1) — 7KB
• 0001140361-24-026260.txt (&nbsp;) — 6752KB
• sskn-20240331.xsd (EX-101.SCH) — 54KB
• sskn-20240331_cal.xml (EX-101.CAL) — 54KB
• sskn-20240331_def.xml (EX-101.DEF) — 268KB
• sskn-20240331_lab.xml (EX-101.LAB) — 682KB
• sskn-20240331_pre.xml (EX-101.PRE) — 423KB
• ef20026312_10q_htm.xml (XML) — 1026KB

Financial Information

Part I. Financial Information: PAGE

Financial Statements

ITEM 1. Financial Statements: a. Condensed Consolidated Balance Sheets as of March 31, 2024 (unaudited) and December 31, 2023 1 b. Condensed Consolidated Statements of Operations for the Three Months Ended March 31, 2024 and 2023 (unaudited) 2 c. Condensed Consolidated Statements of Changes in Stockholders' Equity for the Three Months Ended March 31, 2024 and 2023 (unaudited) 3 d. Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2024 and 2023 (unaudited) 4 e. Notes to Condensed Consolidated Financial Statements (unaudited) 5

Management's Discussion and Analysis of Financial Condition and Results of Operations

ITEM 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 21

Quantitative and Qualitative Disclosure about Market Risk

ITEM 3. Quantitative and Qualitative Disclosure about Market Risk 28

Controls and Procedures

ITEM 4. Controls and Procedures 28

Other Information

Part II. Other Information:

Legal Proceedings

ITEM 1. Legal Proceedings 29

Risk Factors

ITEM 1A. Risk Factors 30

Unregistered Sales of Equity Securities and Use of Proceeds

ITEM 2. Unregistered Sales of Equity Securities and Use of Proceeds 30

Defaults Upon Senior Securities

ITEM 3. Defaults Upon Senior Securities 30

Mine Safety Disclosures

ITEM 4. Mine Safety Disclosures 30

Other Information

ITEM 5. Other Information 30

Exhibits

ITEM 6. Exhibits 30

Signatures

Signatures 31 Certifications E-31.1 Table of Contents

- Financial Information

PART I - Financial Information ITEM 1.

Financial Statements

Financial Statements STRATA Skin Sciences, Inc. and Subsidiary Condensed Consolidated Balance Sheets (in thousands, except share and per share data) March 31, 2024 December 31, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 5,237 $ 6,784 Restricted cash 1,334 1,334 Accounts receivable, net of allowance for credit losses of $ 306 and $ 222 at March 31, 2024 and December 31, 2023 , respectively 3,630 4,440 Inventories 2,695 2,673 Prepaid expenses and other current assets 343 312 Total current assets 13,239 15,543 Property and equipment, net 11,726 11,778 Operating lease right-of-use assets 1,508 626 Intangible assets, net 6,825 7,319 Goodwill 6,519 6,519 Other assets 231 231 Total assets $ 40,048 $ 42,016 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 3,592 $ 3,343 Accrued expenses and other current liabilities 6,269 6,306 Deferred revenues 2,366 2,120 Current portion of operating lease liabilities 300 352 Current portion of contingent consideration 61 53 Total current liabilities 12,588 12,174 Long-term debt, net 15,075 15,044 Deferred revenues and other liabilities 480 552 Deferred tax liability 186 186 Operating lease liabilities, net of current portion 1,166 237 Contingent consideration, net of current portion 1,121 1,135 Total liabilities 30,616 29,328 Commitments and contingencies (Note 13) Stockholders' equity: Series C convertible preferred stock, $ 0.10 par value; 10,000,000 shares authorized, no shares issued and outstanding — — Common stock, $ 0.001 par value; 150,000,000 shares authorized; 35,060,920 shares issued and outstanding at March 31, 2024 and December 31, 2023 35 35 Additional paid-in capital 250,823 250,711 Accumulated deficit ( 241,426 ) ( 238,058 ) Total stockholders' equity 9,432 12,688 Total liabilities and stockholders' eq

View Full Filing

View this 10-Q filing on SEC EDGAR