(State or other jurisdiction of incorporation) | (Commission File Number) | (I.R.S. Employer Identification Number) |
Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Twelve Months Ended December 31, 2019 | |||||||||||||||||||||||||||||||||||
GAAP | Depreciation and Amortization | Stock-Based Compensation | CRM and ERP Implementation | Other Adjustments | Non-GAAP | ||||||||||||||||||||||||||||||
Net revenue | $ | 181,712 | — | — | — | — | $ | 181,712 | |||||||||||||||||||||||||||
Cost of revenue | 83,549 | (522) | (1,572) | — | — | 81,455 | |||||||||||||||||||||||||||||
Gross profit | 98,163 | 522 | 1,572 | — | — | 100,257 | |||||||||||||||||||||||||||||
Gross margin % | 54.0 | % | 55.2 | % | |||||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||
Sales and marketing | 71,109 | (3,627) | (4,510) | (325) | — | 62,647 | |||||||||||||||||||||||||||||
Research and development | 15,085 | (109) | (1,536) | — | — | 13,440 | |||||||||||||||||||||||||||||
General and administrative | 24,033 | (205) | (2,214) | (1,089) | (614) | 19,911 | |||||||||||||||||||||||||||||
Total operating expenses | 110,227 | (3,941) | (8,260) | (1,414) | (614) | 95,998 | |||||||||||||||||||||||||||||
Adjusted EBITDA | $ | (12,064) | $ | 4,463 | $ | 9,832 | $ | 1,414 | $ | 614 | $ | 4,259 |
Twelve Months Ended December 31, 2020 | |||||||||||||||||||||||||||||||||||||||||||||||
GAAP | Depreciation and Amortization | Stock-Based Compensation | CRM and ERP Implementatio/ write-off | Severance (RIF) | Legal/Former CFO Settlement/Lutronic | Other Adjustments | Non-GAAP | ||||||||||||||||||||||||||||||||||||||||
Net revenue | $ | 147,683 | — | — | — | — | — | — | $ | 147,683 | |||||||||||||||||||||||||||||||||||||
Cost of revenue | 71,911 | (591) | (1,665) | — | (318) | — | 275 | 69,612 | |||||||||||||||||||||||||||||||||||||||
Gross profit | 75,772 | 591 | 1,665 | — | 318 | — | (275) | 78,071 | |||||||||||||||||||||||||||||||||||||||
Gross margin % | 51.3 | % | 52.9 | % | |||||||||||||||||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||||
Sales and marketing | 52,766 | (3,136) | (3,384) | — | (274) | — | — | 45,972 | |||||||||||||||||||||||||||||||||||||||
Research and development | 14,322 | (149) | (1,670) | — | (130) | — | — | 12,373 | |||||||||||||||||||||||||||||||||||||||
General and administrative | 31,512 | (111) | (3,390) | (1,139) | (101) | (1,925) | (324) | 24,522 | |||||||||||||||||||||||||||||||||||||||
Total operating expenses | 98,600 | (3,396) | (8,444) | (1,139) | (505) | (1,925) | (324) | 82,867 | |||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | $ | (22,828) | $ | 3,987 | $ | 10,109 | $ | 1,139 | $ | 823 | $ | 1,925 | $ | 49 | $ | (4,796) |
Twelve Months Ended December 31 , 2021 | |||||||||||||||||||||||||||||||||||||||||||||||
GAAP | Depreciation and Amortization | Stock-Based Compensation | CRM and ERP Implementation Cost | Severance (RIF) | Legal - Lutronic | Other Adjustments | Non-GAAP | ||||||||||||||||||||||||||||||||||||||||
Net revenue | $ | 231,270 | — | — | — | — | — | — | $ | 231,270 | |||||||||||||||||||||||||||||||||||||
Cost of revenue | 98,165 | (526) | (1,408) | — | — | — | 791 | 97,022 | |||||||||||||||||||||||||||||||||||||||
Gross profit | 133,105 | 526 | 1,408 | — | — | — | (791) | 134,248 | |||||||||||||||||||||||||||||||||||||||
Gross margin % | 57.6 | % | 58.0 | % | |||||||||||||||||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||||
Sales and marketing | 76,762 | (2,420) | (3,160) | (182) | (638) | — | — | 70,362 | |||||||||||||||||||||||||||||||||||||||
Research and development | 21,568 | (182) | (2,784) | — | — | — | — | 18,602 | |||||||||||||||||||||||||||||||||||||||
General and administrative | 32,945 | (60) | (5,820) | (1,316) | — | (1,201) | — | 24,548 | |||||||||||||||||||||||||||||||||||||||
Total operating expenses | 131,275 | 131275 | (2,662) | (11,764) | (1,498) | (638) | (1,201) | — | 113,512 | ||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | $ | 1,830 | $ | 3,188 | $ | 13,172 | $ | 1,498 | $ | 638 | $ | 1,201 | $ | (791) | $ | 20,736 |
Nine Months Ended September 30, 2022 | |||||||||||||||||||||||||||||||||||||||||||||||
GAAP | Depreciation and Amortization | Stock-Based Compensation | CRM and ERP Implementatio/ write-off | Legal - Lutronic | Severence | Other Adjustments | Non-GAAP | ||||||||||||||||||||||||||||||||||||||||
Net revenue | $ | 185,046 | — | — | — | — | — | — | $ | 185,046 | |||||||||||||||||||||||||||||||||||||
Cost of revenue | 83,966 | (596) | (1,430) | — | — | (26) | 290 | 82,204 | |||||||||||||||||||||||||||||||||||||||
Gross profit | 101,080 | 596 | 1,430 | — | — | 26 | (290) | 102,842 | |||||||||||||||||||||||||||||||||||||||
Gross margin % | 54.6 | % | 55.6 | % | |||||||||||||||||||||||||||||||||||||||||||
Operating expenses: | |||||||||||||||||||||||||||||||||||||||||||||||
Sales and marketing | 78,433 | (2,328) | (3,855) | — | — | (262) | — | 71,988 | |||||||||||||||||||||||||||||||||||||||
Research and development | 19,747 | (180) | (2,513) | — | — | (88) | — | 16,966 | |||||||||||||||||||||||||||||||||||||||
General and administrative | 35,554 | (238) | (5,223) | (7,712) | (1,062) | (39) | — | 21,280 | |||||||||||||||||||||||||||||||||||||||
Total operating expenses | 133,734 | (2,746) | (11,591) | (7,712) | (1,062) | (389) | — | 110,234 | |||||||||||||||||||||||||||||||||||||||
Adjusted EBITDA | $ | (32,654) | $ | 3,342 | $ | 13,021 | $ | 7,712 | $ | 1,062 | $ | 415 | $ | (290) | $ | (7,392) |
Exhibit No. | Description | |||||||
104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
CUTERA, INC. | |||||
Date: December 7, 2022 | /s/ David H. Mowry | ||||
David H. Mowry | |||||
Chief Executive Officer |
Cover |
Aug. 04, 2022 |
---|---|
Cover [Abstract] | |
Document Type | 8-K |
Document Period End Date | Dec. 07, 2022 |
Entity Registrant Name | Cutera, Inc. |
Entity Incorporation, State or Country Code | DE |
Entity File Number | 000-50644 |
Entity Tax Identification Number | 77-0492262 |
Entity Address, Address Line One | 3240 Bayshore Blvd. |
Entity Address, City or Town | Brisbane |
Entity Address, State or Province | CA |
Entity Address, Postal Zip Code | 94005 |
City Area Code | 415 |
Local Phone Number | 657-5500 |
Title of 12(b) Security | Common Stock ($0.001 par value) |
Trading Symbol | CUTR |
Security Exchange Name | NASDAQ |
Written Communications | false |
Soliciting Material | false |
Pre-commencement Tender Offer | false |
Pre-commencement Issuer Tender Offer | false |
Entity Emerging Growth Company | false |
Entity Central Index Key | 0001162461 |
Amendment Flag | false |
-8?2
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