Revenue Performance - Revenue for Q4 2024 was $9.6 million, a 10% increase from $8.7 million in Q4 2023[2] - Full year 2024 revenue was $33.6 million, slightly up from $33.4 million in 2023[11] - Total revenues for the year ended December 31, 2024, were $33,562,000, a slight increase of 0.6% compared to $33,358,000 in 2023[31] Recurring and Equipment Revenue - Global recurring revenue in Q4 2024 was $5.8 million, compared to $5.6 million in the prior year[7] - Equipment revenue for Q4 2024 was $3.8 million, up 23% from $3.1 million in Q4 2023[2] Gross Margin and Profit - Gross margin improved to 60.1% in Q4 2024, up 480 basis points from 55.3% in Q4 2023[2] - Gross profit for 2024 was $19,081,000, representing a gross margin of approximately 56.8%, up from $18,461,000 in 2023[31] International Sales - International sales in Q4 2024 reached $4.1 million, a 41% increase year-over-year[6] Operating Expenses - Operating expenses for 2024 were $22.7 million, an 8.5% decrease from $24.8 million in 2023[2] - Operating expenses totaled $28,336,000 in 2024, an increase from $27,065,000 in 2023, driven by higher general and administrative costs[31] Net Loss - Net loss for Q4 2024 was $4.5 million, compared to a net loss of $3.8 million in Q4 2023[9] - The net loss for 2024 was $10,086,000, a decrease from a net loss of $10,830,000 in 2023, resulting in a net loss per share of $2.65 compared to $3.10 in the previous year[31] Cash and Liquidity - Cash and cash equivalents at December 31, 2024, were $8.6 million[10] - Cash and cash equivalents at the end of 2024 were $7,261,000, up from $6,784,000 in 2023, indicating improved liquidity[29] Assets and Liabilities - Total current assets increased to $16,595,000 in 2024 from $15,543,000 in 2023, primarily driven by an increase in accounts receivable[29] - Total liabilities rose to $31,185,000 in 2024, compared to $29,328,000 in 2023, with current liabilities increasing significantly due to accrued expenses[29] Impairment and Challenges - The company reported an impairment of goodwill of $3,861,000 in 2024, compared to $2,284,000 in 2023, reflecting challenges in asset valuation[31] Cash Flow from Operations - The company generated net cash provided by operating activities of $188,000 in 2024, a recovery from a net cash used of $519,000 in 2023[33] Future Plans - The company plans to focus on developing social media marketing campaigns and expanding its dermatology and aesthetics franchise, although specific financial projections were not provided[26]
STRATA Skin Sciences(SSKN) - 2024 Q4 - Annual Results