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Cutera, Inc. Announces Fourth Quarter and Full-Year 2019 Financial Results

February 26, 2020 GMT

BRISBANE, Calif.--(BUSINESS WIRE)--Feb 26, 2020--

Cutera, Inc. (NASDAQ: CUTR ) (“Cutera” or the “Company”), a leading provider of laser and other energy-based aesthetic systems for practitioners worldwide, today reported financial results for the fourth quarter and full year ended December 31, 2019.

Fourth Quarter 2019 Financial and Operational Highlights

  • 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.

Full-Year 2019 Financial and Operational Highlights

  • Revenue was $181.7 million, an increase of 12% over the prior-year period, driven by:
    • truSculpt portfolio revenue growth of 44%
    • Recurring revenue growth of 37%, and
    • International revenue growth of 24%.
  • Gross Margin was 54%, compared to 49% in the prior-year period, driven by commercial pricing discipline, favorable product mix and other cost of sales expense reductions.
  • Net loss was $12.3 million, or $0.88 per fully diluted share, as compared to a net loss of $30.8 million, or $2.23 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.”

2020 Financial Outlook

  • 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.

Conference Call

The Company’s management will host a conference call to discuss these results and related matters today at 1:30 p.m. PT (4:30 p.m. ET). Participating on the call will be Dave Mowry, Chief Executive Officer, Jason Richey, President, and Fuad Ahmad, Interim Chief Financial Officer.

To participate in the conference call, dial 1-877-705-6003 (domestic) or +1 201-493-6725 (international) and refer to the Conference Code: 13699205.

The call will also be webcast and can be accessed from the Investor Relations section of Cutera’s website at http://www.cutera.com/. The webcast replay of the call will be available at the same site approximately one hour after the end of the call.

About Cutera, Inc.

Brisbane, California-based Cutera is a leading provider of laser and other energy-based aesthetic systems for practitioners worldwide. Since 1998, Cutera has developed innovative, easy-to-use products that enable physicians and other qualified practitioners to offer safe and effective aesthetic treatments to their patients. For more information, call 1-888-4CUTERA or visit www.cutera.com.

*Use of Non-GAAP Financial Measures

In this press release, in order to supplement the Company’s condensed consolidated financial statements presented in accordance with Generally Accepted Accounting Principles, or GAAP, management has disclosed certain non-GAAP financial measures for the statement of operations and net income (loss) per diluted share. Non-GAAP adjustments include stock-based compensation, depreciation, amortization, executive separation costs, customer relationship management (“CRM”) and enterprise resource planning (“ERP”) system implementation costs, as well as the net tax impact of excluding these items. From time to time in the future, there may be other items that we may exclude if the Company believes that doing so is consistent with the goal of providing useful information to investors and management. The Company has provided a reconciliation of each non-GAAP financial measure used in this earnings release to the most directly comparable GAAP financial measure. The Company has not provided a reconciliation of non-GAAP guidance measures to the corresponding GAAP measures on a forward-looking basis due to the potential significant variability, limited visibility, unpredictability, or unique non-recurring nature of the items. Forward-looking non-GAAP measures include adjusted EBITDA. The Company defines adjusted EBITDA as earnings before interest, taxes, depreciation and amortization, stock-based compensation, executive separation costs, and charges related to CRM and ERP software implementation costs.

Company management uses these measurements as aids in monitoring the Company’s ongoing financial performance from quarter to quarter, and year to year, on a regular basis and for benchmarking against other similar companies. Non-GAAP financial measures used by the Company may be calculated differently from, and therefore may not be comparable to, similarly titled measures used by other companies. These non-GAAP financial measures should be considered along with, but not as alternatives to, the operating performance measure as prescribed by GAAP. Non-GAAP financial measures for the statement of operations and net income per diluted share exclude the following:

Non-cash expenses for stock-based compensation.The Company has excluded the effect of stock-based compensation expenses in calculating its non-GAAP operating expenses and net income measures. Although stock-based compensation is a key incentive offered to its employees, the Company continues to evaluate its business performance excluding stock-based compensation expenses. The Company records stock-based compensation expense related to grants of options, employee stock purchase plan, and performance and restricted stock. Depending upon the size, timing and the terms of the grants, this expense may vary significantly but will recur in future periods. The Company believes that excluding stock-based compensation better allows for comparisons to its peer companies;

Depreciation and amortization.The Company has excluded depreciation and amortization expense in calculating its non-GAAP operating expenses and net income measures. Depreciation and amortization are non-cash charges to current operations;

Executive separation.We have excluded costs associated with the resignation of our former Chief Executive Officer in calculating our non-GAAP operating expenses and net income measures. We exclude these non-recurring separation costs because we believe that these items do not reflect future operating expenses;

Customer Relationship Management.We have excluded CRM system costs related to direct and incremental costs incurred in connection with our multi-phase implementation of a new CRM solution and the related technology infrastructure costs. We exclude these costs because we believe that these items do not reflect future operating expenses and will be inconsistent in amounts and frequency making it difficult to contribute to a meaningful evaluation of our operating performance; and

Enterprise Resource Planning.We have excluded ERP system costs related to direct and incremental costs incurred in connection with our multi-phase implementation of a new ERP solution and the related technology infrastructure costs. We exclude these costs because we believe that these items do not reflect future operating expenses and will be inconsistent in amounts and frequency making it difficult to contribute to a meaningful evaluation of our operating performance.

The Company believes that excluding all of the items above allows users of its financial statements to better review and assess both current and historical results of operations.

Safe Harbor Statement

Certain statements in this press release, other than purely historical information, are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). These statements include, but are not limited to, Cutera’s plans, objectives, strategies, financial performance and outlook, CFO and other senior leadership searches, product launches and performance, trends, prospects or future events and involve known and unknown risks that are difficult to predict. As a result, the Company’s actual financial results, performance, achievements or prospects may differ materially from those expressed or implied by these forward-looking statements. In some cases, you can identify forward-looking statements by the use of words such as “may,” “could,” “seek,” “guidance,” “predict,” “potential,” “likely,” “believe,” “will,” “should,” “expect,” “anticipate,” “estimate,” “plan,” “intend,” “forecast,” “foresee” or variations of these terms and similar expressions, or the negative of these terms or similar expressions. Forward-looking statements are based on management’s current, preliminary expectations and are subject to risks and uncertainties, which may cause Cutera’s actual results to differ materially from the statements contained herein. These statements are not guarantees of future performance, and stockholders should not place undue reliance on forward-looking statements. There are a number of risks, uncertainties and other important factors, many of which are beyond the Company’s control, that could cause its actual results to differ materially from the forward-looking statements contained in this press release, including those described in the “Risk Factors” section of Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form 8-K, the Registration Statement on Form S-8 and other documents filed from time to time with the United States Securities and Exchange Commission by Cutera.

All information in this press release is as of the date of its release. Accordingly, undue reliance should not be placed on forward-looking statements. Cutera undertakes no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made, or to reflect the occurrence of unanticipated events. If the Company updates one or more forward-looking statements, no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements. Cutera’s financial performance for the fourth quarter and full year ended December 31, 2019, as discussed in this release, is preliminary and unaudited, and subject to adjustment.

CUTERA, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
(unaudited)
 

December 31,

 

 

December 31,

2019

 

 

2018 (1)(2)

Assets
Current assets:
Cash and cash equivalents

$

26,316

$

26,052

Marketable investments

7,605

9,523

Accounts receivable, net

21,556

19,637

Inventories

33,921

28,014

Other current assets and prepaid expenses

5,648

3,972

Total current assets

95,046

87,198

 
Property and equipment, net

2,817

2,672

Deferred tax asset

423

457

Goodwill

1,339

1,339

Operating lease right-of-use assets

7,702

-

Other long-term assets

6,411

5,971

Total assets

$

113,738

$

97,637

 
Liabilities and Stockholders' Equity
Current liabilities:
Accounts payable

$

12,685

$

11,279

Accrued liabilities

30,307

23,300

Operating leases liabilities

24

-

Extended warranty liabilities

1,999

3,159

Deferred revenue

10,831

9,882

Total current liabilities

55,846

47,620

 
Deferred revenue, net of current portion

3,391

2,684

Income tax liability

93

394

Operating lease liabilities, net of current portion

7,888

-

Other long-term liabilities

578

553

Total liabilities

67,796

51,251

 
Stockholders’ equity:
Common stock

14

14

Additional paid-in capital

82,346

70,451

Accumulated deficit

(36,358)

(24,010)

Accumulated other comprehensive loss

(60)

(69)

Total stockholders' equity

45,942

46,386

Total liabilities and stockholders' equity

$

113,738

$

97,637

(1) As of January 1, 2019, the Company adopted the requirements of ASC 842 Leases using the modified retrospective method, and as a result, there is a lack of comparability to the prior periods presented.
(2) As of April 1, 2019, the Company adopted the requirements of ASU 2018-15 Intangible - Goodwill and Other - Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract on a prospective basis, and as a result, there is a lack of comparability to the prior periods presented.
CUTERA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
 
Three Months EndedTwelve Months Ended

December 31,

 

December 31,

 

December 31,

 

December 31,

2019

 

2018

 

2019

 

2018

 
Products

$

45,593

 

39,946

 

158,638

 

142,535

 

Service

 

6,202

 

5,523

 

23,074

 

20,185

 

Total net revenue

 

51,795

 

45,469

 

181,712

 

162,720

 

 
Products

 

18,415

 

19,967

 

64,693

 

66,843

 

Service

 

4,590

 

6,716

 

18,856

 

15,495

 

Total cost of revenue

 

23,005

 

26,683

 

83,549

 

82,338

 

Gross profit

 

28,790

 

18,786

 

98,163

 

80,382

 

Gross margin %

 

56%

41%

54%

49%

 
Operating expenses:
Sales and marketing

 

20,323

 

15,318

 

71,109

 

58,420

 

Research and development

 

4,463

 

3,464

 

15,085

 

14,359

 

General and administrative

 

5,933

 

5,494

 

24,033

 

20,995

 

Total operating expenses

 

30,719

 

24,276

 

110,227

 

93,774

 

Loss from operations

 

(1,929

)

(5,490

)

(12,064

)

(13,392

)

Interest and other expense, net

 

(20

)

(44

)

(199

)

(123

)

Loss before income taxes

 

(1,949

)

(5,534

)

(12,263

)

(13,515

)

Income tax expense (benefit)

 

139

 

20,759

 

85

 

17,255

 

Net loss

 

(2,088

)

(26,293

)

(12,348

)

(30,770

)

 
Net loss per share:
Basic

 

(0.15

)

(1.89

)

(0.88

)

(2.23

)

Diluted

 

(0.15

)

(1.89

)

(0.88

)

(2.23

)

 
Weighted-average number of shares used in per share calculations:
Basic

 

14,261

 

13,932

 

14,096

 

13,771

 

Diluted

 

14,261

 

13,932

 

14,096

 

13,771

 

CUTERA, INC.
CONSOLIDATED FINANCIAL HIGHLIGHTS
(in thousands, except percentage data)
(unaudited)
 
Three Months Ended% ChangeTwelve Months Ended% Change

December 31,

 

December 31,

 

2019 Vs

 

December 31,

 

December 31,

 

2019 Vs

2019

 

2018

 

2018

 

2019

 

2018

 

2018

Revenue By Geography:
United States

$

31,271

$

28,265

+11%

$

106,243

$

101,862

+4%

International

20,524

17,204

+19%

75,469

60,858

+24%

Total Net Revenue

$

51,795

$

45,469

+14%

$

181,712

$

162,720

+12%

International as a percentage of total revenue

40%

38%

42%

37%

 
Revenue By Product Category:
Systems
- North America

$

28,526

$

26,519

+8%

$

96,718

$

93,977

+3%

- Rest of World

12,246

10,349

+18%

43,760

38,618

+13%

Total Systems

40,772

36,868

+11%

140,478

132,595

+6%

Consumables

2,539

1,281

+98%

9,648

4,162

+132%

Skincare

2,282

1,797

+27%

8,512

5,778

+47%

Total Products

45,593

39,946

+14%

158,638

142,535

+11%

 
Service

6,202

5,523

+12%

23,074

20,185

+14%

Total Net Revenue

$

51,795

$

45,469

+14%

$

181,712

$

162,720

+12%

 
 
 
Three Months EndedTwelve Months Ended

December 31,

 

December 31,

 

 

 

December 31,

 

December 31,

2019

 

2018

 

 

 

2019

 

2018

Pre-tax Stock-Based Compensation Expense:
Cost of revenue

$

469

$

167

$

1,572

$

743

Sales and marketing

1,430

360

4,510

2,105

Research and development

460

208

1,536

824

General and administrative

469

897

2,214

3484

$

2,828

$

1,632

$

9,832

$

7,156

CUTERA, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
(unaudited)
 
Three Months EndedTwelve Months Ended

December 31,

 

December 31,

 

December 31,

 

December 31,

2019

 

2018

 

2019

 

2018

Cash flows from operating activities:
Net loss

$

(2,088)

$

(26,293)

$

(12,348)

$

(30,770)

Adjustments to reconcile net loss to net cash used in operating activities:
Stock-based compensation

2,828

1,632

9,832

7,156

Depreciation of tangible assets

364

360

1,548

1,209

Amortization of contract acquisition costs

746

530

2,915

1,834

Change in deferred tax asset

36

20,945

34

17,438

Provision for doubtful accounts receivable

(57)

380

590

1,257

Other

72

26

127

241

Changes in assets and liabilities:
Accounts receivable

1,723

5,427

(2,509)

(117)

Inventories

121

3,308

(5,907)

768

Other current assets and prepaid expenses

(339)

(273)

(1,762)

(1,070)

Other long-term assets

(747)

(453)

(3,355)

(2,754)

Accounts payable

(1,455)

(2,042)

1,406

4,277

Accrued liabilities

2,257

396

7,157

(3,781)

Extended warranty liabilities

(233)

3,159

(1,160)

3,159

Other long-term liabilities

-

35

(140)

140

Deferred revenue

749

1,247

1,656

1,305

Income tax liability

-

42

(301)

15

Net cash provided by (used in) operating activities

3,977

8,426

(2,217)

307

 
Cash flows from investing activities:
Acquisition of property, equipment and software

(467)

(274)

(991)

(1,488)

Disposal of property and equipment

-

-

45

41

Proceeds from sales of marketable investments

-

-

-

13,044

Proceeds from maturities of marketable investments

3,250

2,000

14,700

10,050

Purchase of marketable investments

(4,383)

(6,484)

(12,687)

(10,874)

Net cash provided by (used in) investing activities

(1,600)

(4,758)

1,067

10,773

 
Cash flows from financing activities:
Proceeds from exercise of stock options and employee stock purchase plan

1,294

796

2,894

4,399

Taxes paid related to net share settlement of equity awards

(81)

(157)

(831)

(3,128)

Payments on finance lease obligations

(153)

(121)

(649)

(483)

Net cash provided by financing activities

1,060

518

1,414

788

 
Net increase in cash and cash equivalents

3,437

4,186

264

11,868

Cash and cash equivalents at beginning of period

22,879

21,866

26,052

14,184

Cash and cash equivalents at end of period

$

26,316

$

26,052

$

26,316

$

26,052

CUTERA, INC.
RECONCILIATION OF GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
TO NON-GAAP CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in thousands, except per share data)
(unaudited)
 
 
Three Months Ended December 31, 2019Three Months Ended December 31, 2018

GAAP

 

Depreciation
and
Amortization

 

Stock-Based
Compensation

 

CRM and ERP
Implementation

 

Taxes and
Other

Adjustments

 

Non-GAAP

 

GAAP

 

Depreciation
and
Amortization

 

Stock-Based
Compensation

 

CRM and ERP
Implementation

 

Taxes and
Other

Adjustments

 

Non-GAAP

 
Net revenue

$

51,795

-

-

-

-

$

51,795

$

45,469

-

-

-

-

$

45,469

Cost of revenue

 

23,005

(136)

(469)

-

-

 

22,400

 

26,683

(94)

(167)

-

(4,956)

 

21,466

Gross profit

 

28,790

136

469

-

-

 

29,395

 

18,786

94

167

-

4,956

 

24,003

Gross margin %

 

56%

 

57%

 

41%

 

53%

 
Operating expenses:
Sales and marketing

 

20,323

(910)

(1,430)

(124)

-

 

17,859

 

15,318

(692)

(360)

-

-

 

14,266

Research and development

 

4,463

(35)

(460)

-

-

 

3,968

 

3,464

(23)

(208)

-

-

 

3,233

General and administrative

 

5,933

(29)

(469)

41

-

 

5,476

 

5,494

(81)

(897)

(216)

-

 

4,300

Total operating expenses

 

30,719

(974)

(2,359)

(83)

-

 

27,303

 

24,276

(796)

(1,465)

(216)

-

 

21,799

Income (loss) from operations

 

(1,929)

1,110

2,828

83

-

 

2,092

 

(5,490)

890

1,632

216

4,956

 

2,204

Interest and other expense, net

 

(20)

-

-

-

-

 

(20)

 

(44)

-

-

-

-

 

(44)

Income (loss) before income taxes

 

(1,949)

1,110

2,828

83

-

 

2,072

 

(5,534)

890

1,632

216

4,956

 

2,160

Provision (benefit) for income taxes

 

139

-

-

-

(201)

 

(62)

 

20,759

-

-

-

(17,037)

 

3,722

Net income (loss)

$

(2,088)

1,110

2,828

83

201

$

2,134

$

(26,293)

890

1,632

216

21,993

$

(1,562)

 
Net income (loss) per share:
Basic

$

(0.15)

$

0.15

$

(1.89)

$

(0.11)

Diluted

$

(0.15)

$

0.14

$

(1.89)

$

(0.11)

 
Weighted-average number of shares used in per share calculations:
Basic

 

14,261

 

14,261

 

13,932

 

13,932

Diluted

 

14,261

 

14,904

 

13,932

 

13,932

 
 
 
 
Operating expenses as a % of net revenueGAAPNon-GAAPGAAPNon-GAAP
Sales and marketing

 

39.2%

 

34.5%

 

33.7%

 

31.4%

Research and development

 

8.6%

 

7.7%

 

7.6%

 

7.1%

General and administrative

 

11.5%

 

10.6%

 

12.1%

 

9.5%

 

59.3%

 

52.7%

 

53.4%

 

47.9%

(in thousands, except per share data)
(unaudited)
 
 
Twelve Months Ended December 31, 2019Twelve Months Ended December 31, 2018

GAAP

 

Depreciation
and
Amortization

 

Stock-Based
Compensation

 

CRM and ERP
Implementation

 

Taxes and
Other

Adjustments

 

 

Non-GAAP

 

GAAP

 

Depreciation
and
Amortization

 

Stock-Based
Compensation

 

CRM and ERP
Implementation

 

Taxes and
Other

Adjustments

 

Non-GAAP

 
Net revenue

$

181,712

-

-

-

-

$

181,712

$

162,720

-

-

-

-

$

162,720

Cost of revenue

 

83,549

(522)

(1,572)

-

-

 

81,455

 

82,338

(319)

(743)

-

(4,956)

 

76,320

Gross profit

 

98,163

522

1,572

-

-

 

100,257

 

80,382

319

743

-

4,956

 

86,400

Gross margin %

 

54%

 

55%

 

49%

 

53%

 
Operating expenses:
Sales and marketing

 

71,109

(3,627)

(4,510)

(325)

-

 

62,647

 

58,420

(2,458)

(2,104)

-

-

 

53,858

Research and development

 

15,085

(109)

(1,536)

-

-

 

13,440

 

14,359

(74)

(825)

-

-

 

13,460

General and administrative

 

24,033

(205)

(2,214)

(1,089)

(614)

(a)

 

19,911

 

20,995

(192)

(3,484)

(216)

-

 

17,103

Total operating expenses

 

110,227

(3,941)

(8,260)

(1,414)

(614)

 

95,998

 

93,774

(2,724)

(6,413)

(216)

-

 

84,421

Income (loss) from operations

 

(12,064)

4,463

9,832

1,414

614

 

4,259

 

(13,392)

3,043

7,156

216

4,956

 

1,979

Interest and other expense, net

 

(199)

-

-

-

-

 

(199)

 

(123)

-

-

-

-

 

(123)

Income (loss) before income taxes

 

(12,263)

4,463

9,832

1,414

614

 

4,060

 

(13,515)

3,043

7,156

216

4,956

 

1,856

Provision (benefit) for income taxes

 

85

-

-

-

87

 

172

 

17,255

-

-

-

(16,906)

 

349

Net income (loss)

$

(12,348)

4,463

9,832

1,414

527

$

3,888

$

(30,770)

3,043

7,156

216

21,862

$

1,507

 
Net income (loss) per share:
Basic

$

(0.88)

$

0.28

$

(2.23)

$

0.11

Diluted

$

(0.88)

$

0.27

$

(2.23)

$

0.11

 
Weighted-average number of shares used in per share calculations:
Basic

 

14,096

 

14,096

 

13,771

 

13,771

Diluted

 

14,096

 

14,512

 

13,771

 

14,305

 

a) Other adjustment of $614 related to Executive separation costs.

 
 
Operating expenses as a % of net revenueGAAPNon-GAAPGAAPNon-GAAP
Sales and marketing

 

39.1%

 

34.5%

 

35.9%

 

33.1%

Research and development

 

8.3%

 

7.4%

 

8.8%

 

8.3%

General and administrative

 

13.2%

 

11.0%

 

12.9%

 

10.5%

 

60.7%

 

52.8%

 

57.6%

 

51.9%

CUTERA, INC.
RECONCILIATION OF LOSS TO ADJUSTED EBITDA
(in thousands)
(unaudited)
 
 
Three Months
Ended
Twelve
Months Ended
December 31, 2019
 
Net loss

$

(2,088)

$

(12,348)

Adjustments:
Stock-based compensation

 

2,828

 

9,832

Depreciation and amortization

 

1,110

 

4,463

CRM and ERP implementation costs

 

83

 

1,414

Other adjustments

 

-

 

614

(a)
Interest and other expense, net

 

20

 

199

Provision (benefit) for income taxes

 

139

 

85

Total adjustments

$

4,180

$

16,607

 
Adjusted EBITDA

$

2,092

$

4,259

 

a) Other adjustment of $614 related to Executive separation costs.

 

View source version on businesswire.com:https://www.businesswire.com/news/home/20200226005932/en/

CONTACT: Cutera, Inc.

Anne Werdan

Director, Investor Relations

415-657-5500

awerdan@cutera.com

KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA

INDUSTRY KEYWORD: GENERAL HEALTH HEALTH OTHER HEALTH MEDICAL DEVICES

SOURCE: Cutera, Inc.

Copyright Business Wire 2020.

PUB: 02/26/2020 04:10 PM/DISC: 02/26/2020 04:10 PM

http://www.businesswire.com/news/home/20200226005932/en