Q2 2024 STRATA Skin Sciences Inc Earnings Call Transcript
Key Points
- Total revenue grew 2% year-over-year to $8.4 million.
- Operating expenses declined by approximately $850,000 or 14% year-over-year.
- Loss from operations decreased significantly by $1.5 million to roughly $500,000.
- Gross profit increased to $4.9 million from $4.3 million year-over-year, with gross profit margin improving to 58.5%.
- Successful expansion of DTC marketing efforts from 4 to 28 active marketing areas, leading to lower cost per lead and appointment metrics.
- Global net recurring revenue declined to $5.3 million from $5.5 million year-over-year.
- XTRAC gross domestic recurring billings were down 6% year-over-year.
- The installed base of XTRAC devices declined from 907 units to 881 units, indicating a reduction in active devices.
- Gross domestic recurring billing saw a decline for two consecutive quarters, with a 6% drop in Q2 2024.
- Despite improvements, the gross margin of 58.5% is still below the pre-COVID levels of nearly 70%.
Ladies and gentlemen, thank you for standing by. Good afternoon, and welcome to the STRATA Skin Sciences, Inc., Second Quarter 2024 Financial Results and Corporate Update Conference Call. (Operator Instructions)
I would now like to turn the call over to Joey Delahousse of Core IR, the company's Investor Relations firm.
Good afternoon, and thank you for participating in today's conference call. Earlier this afternoon, the company released its financial results for the quarter ended June 30, 2024. A copy of that press release can be found on the company's website at www.strataskinsciences.com under the Investors tab. Joining me on today's earnings call from STRATA Skin Sciences' management team are Dr. Dolev Rafaeli, Chief Executive Officer; and Chris Lesovitz, Chief Financial Officer.
During this call, management will be making forward-looking statements, including statements that address STRATA Skin Sciences'
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