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Cutera (CUTR) Misses Q4 EPS by 24c, Revenues Beat; Offers FY20 Revenue Mid-Point Guidance Above Consensus

February 26, 2020 5:08 PM EST

Cutera (NASDAQ: CUTR) reported Q4 EPS of ($0.15), $0.24 worse than the analyst estimate of $0.09. Revenue for the quarter came in at $51.8 million versus the consensus estimate of $50.76 million.

  • Revenue was $51.8 million, an increase of 14% over the prior-year period, driven by:
    • truSculpt portfolio revenue growth of 52%
    • Recurring revenue growth of 28%, and
    • International revenue growth of 19%.
  • Gross Margin was 56%, compared to 41% in the prior-year period, driven by commercial discipline, favorable product mix and period cost improvements.
  • Net loss was $2.1 million, or $0.15 per fully diluted share, as compared to a net loss of $26.3 million, or $1.89 per fully diluted share, in the prior-year period.

“Our strong fourth quarter results reflect the entire organization’s commitment to the execution of our commercial and operational initiatives,” commented Dave Mowry, Chief Executive Officer. “The Cutera team delivered solid results across multiple commercial segments, with particular strength in our Body Sculpting franchise, the International business, and recurring revenue, which saw continued expansion during the fourth quarter. Additionally, the team has established a strong foundation for sustained gross margin expansion and improved profitability moving forward. As we move into 2020, we look to build upon the solid momentum created in 2019 with focus, energy, and a commitment to excellence.”

GUIDANCE:

Cutera sees FY2020 revenue of $194-200 million, versus the consensus of $194.85 million.

  • Full-year 2020 revenue is expected in the range of $194 million to $200 million, an increase of 7% to 10% over 2019.
  • Full-year 2020 non-GAAP* gross margin is expected to improve over the-full year 2019 non-GAAP gross margin.
  • Full-year 2020 adjusted EBITDA* is expected in the range of $6 million to $7 million.

For earnings history and earnings-related data on Cutera (CUTR) click here.



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