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Cutera (CUTR - Free Report) reported fourth-quarter 2020 adjusted earnings of 31 cents per share, which comfortably surpassed the Zacks Consensus Estimate of a loss of 3 cents. Moreover, the figure surged 121.4% year over year.
Revenues of $49.9 million fell 3.6% year over year but beat the consensus mark by 14.8%. The year-over-year decline was primarily attributed to lower levels of capital equipment purchases due to the coronavirus-induced disruptions. Capital Equipment revenues of $30.1 million declined 26% year over year.
Moreover, geographically, U.S. revenues fell 32.7% year over year to $21.1 million. International revenues surged 40.7% to $28.9 million.
Quarter Details
Recurring revenues, defined as the combination of Service, Skincare and Consumable product categories, were $19.8 million, up 80% year over year.
Skincare revenues jumped 362.5% to $10.6 million. Consumables increased 19.1% year over year to $3 million, driven by the continued recovery of energy-based treatment volumes.
3D Systems is set to report its quarterly results on Feb 24. Zoom and CrowdStrike are set to report the same on Mar 1 and 16, respectively.
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The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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Cutera (CUTR) Q4 Earnings Beat, COVID-19 Hurts Top-Line Growth
Cutera (CUTR - Free Report) reported fourth-quarter 2020 adjusted earnings of 31 cents per share, which comfortably surpassed the Zacks Consensus Estimate of a loss of 3 cents. Moreover, the figure surged 121.4% year over year.
Revenues of $49.9 million fell 3.6% year over year but beat the consensus mark by 14.8%. The year-over-year decline was primarily attributed to lower levels of capital equipment purchases due to the coronavirus-induced disruptions. Capital Equipment revenues of $30.1 million declined 26% year over year.
Moreover, geographically, U.S. revenues fell 32.7% year over year to $21.1 million. International revenues surged 40.7% to $28.9 million.
Quarter Details
Recurring revenues, defined as the combination of Service, Skincare and Consumable product categories, were $19.8 million, up 80% year over year.
Skincare revenues jumped 362.5% to $10.6 million. Consumables increased 19.1% year over year to $3 million, driven by the continued recovery of energy-based treatment volumes.
Cutera, Inc. Price, Consensus and EPS Surprise
Cutera, Inc. price-consensus-eps-surprise-chart | Cutera, Inc. Quote
Moreover, Service revenues were up 0.3% to $6.2 million.
Product revenues decline 4.1% year over year to $43.7 million.
Non-GAAP gross profit declined 3.8% year over year to $28.3 million. Gross margin was unchanged at 56.7%.
Research & development, and sales & marketing expenses decreased 7.5% and 26% year over year to $3.7 million and $13.2 million, respectively.
However, general & administration expenses increased 22.2% year over year to $6.7 million.
Operating income was $4.7 million, up 124.8% year over year. Operating margin expanded 540 basis points to 9.4% in the reported quarter.
Balance Sheet
As of Dec 31, 2020, cash and cash equivalents were $47 million.
Net cash provided by operating activities in the fourth quarter was $3.8 million compared with $4 million at the end of the year-ago quarter.
Zacks Rank & Stocks to Consider
Cutera currently has a Zacks Rank #4 (Sell).
Better-ranked stocks in the broader technology sector are 3D Systems (DDD - Free Report) , Zoom (ZM - Free Report) and CrowdStrike Holdings (CRWD - Free Report) . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
3D Systems is set to report its quarterly results on Feb 24. Zoom and CrowdStrike are set to report the same on Mar 1 and 16, respectively.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>