STRATA Skin Sciences Files Q3 2024 10-Q

TL;DR

STRATA Skin Sciences dropped their Q3 2024 10-Q. Check financials.

AI Summary

STRATA Skin Sciences, Inc. filed a 10-Q for the period ending September 30, 2024. The company, formerly known as MELA SCIENCES, INC., reported financial results for the third quarter of 2024. The filing details their financial position and operational activities.

Why It Matters

This filing provides investors with the latest financial performance and operational updates for STRATA Skin Sciences, Inc., crucial for understanding the company's current health and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company, STRATA Skin Sciences, Inc. is subject to market fluctuations and regulatory requirements, making its risk level medium.

Key Numbers

• 10-Q — Form Type (Quarterly report filed with the SEC)
• 20240930 — Reporting Period End Date (The end date for the financial information presented)

Key Players & Entities

• STRATA Skin Sciences, Inc. (company) — Filer of the 10-Q
• MELA SCIENCES, INC. (company) — Former name of STRATA Skin Sciences, Inc.
• 20240930 (date) — End of the reporting period
• 20241114 (date) — Filing date

FAQ

Key Financial Figures

• $0.001 — nge On Which Registered Common Stock, $0.001 Par Value SSKN The Nasdaq Stock Mar
• $7 — gible employers could qualify for up to $7 of credit for each employee based on qu

Filing Documents

• ef20034537_10q.htm (10-Q) — 1657KB
• ef20034537_ex31-1.htm (EX-31.1) — 16KB
• ef20034537_ex32-1.htm (EX-32.1) — 8KB
• 0001140361-24-046521.txt ( ) — 8365KB
• sskn-20240930.xsd (EX-101.SCH) — 58KB
• sskn-20240930_cal.xml (EX-101.CAL) — 59KB
• sskn-20240930_def.xml (EX-101.DEF) — 292KB
• sskn-20240930_lab.xml (EX-101.LAB) — 733KB
• sskn-20240930_pre.xml (EX-101.PRE) — 456KB
• ef20034537_10q_htm.xml (XML) — 1468KB

Financial Statements

Financial Statements: Condensed Consolidated Balance Sheets as of September 30, 2024 (unaudited) and December 31, 2023 1 Condensed Consolidated Statements of Operations for the three and nine Months Ended September 30, 2024 and 2023 (unaudited) 2 Condensed Consolidated Statements of Changes in Stockholders' Equity for the three and nine Months Ended September 30, 2024 and 2023 (unaudited) 3 Condensed Consolidated Statements of Cash Flows for the nine Months Ended September 30, 2024 and 2023 (unaudited) 4 Notes to Condensed Consolidated Financial Statements (unaudited) 5 Item 2.

Management's Discussion and Analysis

Management's Discussion and Analysis of Financial Condition and Results of Operations 21 Item 3. Quantitative and Qualitative Disclosure about Market Risk 30 Item 4.

Controls and Procedures

Controls and Procedures 30 Part II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 31 Item 1A.

Risk Factors

Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32 Item 3. Defaults Upon Senior Securities 32 Item 4. Mine Safety Disclosures 32 Item 5. Other Information 32 Item 6. Exhibits 33

Signatures

Signatures 33 Certifications 33 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) September 30, 2024 December 31, 2023 (unaudited) Assets Current assets: Cash and cash equivalents $ 7,062 $ 6,784 Restricted cash 1,334 1,334 Accounts receivable, net of allowance for credit losses of $ 159 and $ 222 at September 30, 2024 and December 31, 2023 , respectively 4,443 4,440 Inventories 2,744 2,673 Prepaid expenses and other current assets 297 312 Total current assets 15,880 15,543 Property and equipment, net 10,387 11,778 Operating lease right-of-use assets 1,348 626 Intangible assets, net 5,840 7,319 Goodwill 6,519 6,519 Other assets 231 231 Total assets $ 40,205 $ 42,016 Liabilities and Stockholders' Equity Current liabilities: Accounts payable $ 1,749 $ 3,343 Accrued expenses and other current liabilities 8,524 6,306 Deferred revenues 2,421 2,120 Current portion of operating lease liabilities 322 352 Current portion of contingent consideration 1,030 53 Total current liabilities 14,046 12,174 Long-term debt, net 15,153 15,044 Deferred revenues and other liabilities 379 552 Deferred tax liability 186 186 Operating lease liabilities, net of current portion 1,002 237 Contingent consideration, net of current portion 96 1,135 Total liabilities 30,862 29,328 Commitments and contingencies (Note 14) 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; 4,171,161 and 3,506,025 shares issued and outstanding at September 30, 2024 and December 31, 2023 , respectively 4 4 Additional paid-in capital 252,986 250,742 Accumulated deficit ( 243,647 ) ( 238,058 ) Total stockholders' equity 9,343 12,688 To

financial statements

financial statements . Recent Accounting Pronouncements Not Yet Adopted In November 2023, the FASB issued ASU 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures , which will primarily require enhanced disclosures about significant segment expenses and information used to assess segment performance and enhanced disclosures in interim periods. The guidance in this ASU will be applied retrospectively and is effective for fiscal years beginning after December 15, 2023 and interim reporting periods in fiscal years beginning after December 15, 2024. Early adoption is permitted. The Company is currently evaluating the effect this ASU will have on its condensed consolidated financial statements . 8 Table of Contents STRATA Skin Sciences, Inc. and Subsidiary Notes to Condensed Consolidated Financial Statements (in thousands, except share and per share amounts and number of lasers) (unaudited) In Dec

View Full Filing

View this 10-Q filing on SEC EDGAR