XTRAC Devices Revolutionize Dermatology Industry with Impressive Financial Results

Malvern, Pennsylvania – STRATA Skin Sciences, Inc. held its Q1 2024 Results Conference Call on May 2, 2024, at 4:30 PM ET. During the call, Chief Executive Officer Dolev Rafaeli and Chief Financial Officer Chris Lesovitz shared updates on the company’s financial performance. STRATA Skin Sciences focuses on utilizing XTRAC for treating conditions such as psoriasis, vitiligo, and eczema, with a strategic emphasis on device placements and direct-to-consumer marketing to drive revenue growth.

One of the key strategies discussed during the call was the optimization of XTRAC device placements to enhance utilization rates, leading to higher recurring revenue per device. The company aims to increase DTC marketing efforts to drive patient appointments and expand into new geographic areas. By targeting underperforming clinics and repositioning devices to more promising markets, STRATA Skin Sciences hopes to increase average recurring revenue per device significantly.

Furthermore, the company highlighted the positive impact of its strategic initiatives on domestic business in the first quarter of 2024. With a focus on cost controls and operational efficiency, STRATA Skin Sciences managed to reduce its cash burn and operating expenses, signaling progress towards profitability. The company also emphasized the importance of international markets in its growth strategy, extending distribution agreements in key territories.

Looking ahead, STRATA Skin Sciences anticipates continued growth through its focus on DTC marketing, device utilization, and cost containment measures. By leveraging the strengths of XTRAC and TheraClearX technologies, the company aims to benefit patients, healthcare providers, and its own bottom line. With a commitment to operational excellence and strategic execution, STRATA Skin Sciences remains optimistic about its future prospects.

The conference call concluded with a question-and-answer session, where company representatives addressed inquiries from participants, providing further insights into their growth strategies and financial performance. The call ended with CEO Dolev Rafaeli expressing gratitude to investors and stakeholders for their support, highlighting the progress made and the company’s commitment to continued improvement.