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Forward-Looking Statements
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This presentation also contains estimates and other statistical data made by independent parties and by us relating to market size and growth and other data about our industry. This data involves a number of assumptions and limitations, and you are cautioned not to give undue weight to such estimates. Management bases all estimates as to events that may occur in the future upon their best judgment as of the date of this presentation. Whether or not such estimates may be achieved will depend upon us achieving our overall business objectives and the availability of funds. Actual results will vary from the estimates, and such variations may be material. Neither we nor any other person makes any representation as to the accuracy or completeness of such data or undertakes any obligation to update such data after the date of this presentation. In addition, projections, assumptions and estimates of our future performance and for the market in which we operate are subject to a high degree of risk and uncertainty. By attending or receiving this presentation you acknowledge that you will be solely responsible for your own assessment of the market and our market position and that you will conduct your own analysis and be solely responsible for forming your own view of the potential future performance of our business.
Use of Non-GAAP Financial Measures
This presentation includes the non-GAAP financial measure of non-GAAP Operating Income, which differs from financial measures calculated in accordance with U.S. generally accepted accounting principles ("GAAP"). Non-GAAP Operating Income in this presentation represents earnings before interest, taxes, depreciation and amortization, stock-based compensation, executive and other non-recurring separation costs, enterprise resource planning system costs, non-recurring legal and litigation costs, Board of Director legal and advisory fees, and expenses related to the termination of a manufacturing agreement. Non- GAAP Operating Income is presented because we believe it is a useful indicator of operating performance. We use this financial measure as a measure of our Company's operating performance and for planning purposes, including financial projections. We believe this measure is useful to investors as supplemental information because it is frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We believe non-GAAP Operating Income is useful to us and investors as a measure of comparative operating performance from period to period. Non-GAAP Operating Income is a non-GAAP financial measure and should not be considered as an alternative to, or superior to, net income or loss as a measure of financial performance or cash flows from operations as a measure of liquidity, or any other performance measure derived in accordance with GAAP, and it should not be construed to imply that our Company's future results will be unaffected by unusual or non-recurring items. In addition, the measure is not intended to be a measure of free cash flow for our management's discretionary use, as it does not reflect certain cash requirements such as debt service requirements, capital expenditures and other cash costs that may recur in the future. Non-GAAP Operating Income contains certain other limitations, including the failure to reflect our cash expenditures, cash requirements for working capital needs and other potential cash requirements. In evaluating non-GAAP Operating Income, you should be aware that in the future we may incur expenses that are the same or similar to some of the adjustments in this presentation. Our presentation of non-GAAP Operating Income should not be construed to imply that its future results will be unaffected by any such adjustments. We compensate for these limitations by primarily relying on our GAAP results in addition to using non-GAAP Operating Income on a supplemental basis. Our definition of this measure is not necessarily comparable to other similarly titled captions of other companies due to different methods of calculation.
2
A New Energy in Aesthetics
Mission | Vision |
Improve lives through medical aesthetic | To be the premier |
technologies that are driven by science | provider of medical |
and powered through partnerships | aesthetic technologies |
PICO Values
Passion
Innovation
Communication
Ownership
31. Source: Custom market insights 2023 Acne Treatment Market Size, Trends and Insights By Product Type report 1. Source: Custom market insights 2023 Acne Treatment Market Size, Trends and Insights By Product Type report
Shaping aesthetics & dermatology with innovation
Demographics powering | Decades of innovation = |
solid market growth | technological leadership |
$5B+ global market for foundational platforms benefitting from Millennials and men increasingly seeking treatment
Differentiated product platforms are advancing skin and body care globally
Launching first acne innovation in decades
Commercializing a durable solution for the treatment of acne - a $14B+ market1 in need of new treatment options
Organizational recalibration underway
New leadership with deep industry experience focused on operational excellence, right-sizing cost structure & proven strategies to unlock value
4 4 | 1. Source: Custom market insights 2023 Acne Treatment Market Size, Trends and Insights By Product Type report |
Leadership with Track Records of Success
Deep aesthetics and med-tech expertise
Taylor Harris | Michael Karavitis | Stuart Drummond | Jeff Jones |
CEO | CTO | Interim CFO | COO |
Stephana Patton | Steve Kreider | Brent Hauser | TJ Huffman |
Chief Legal | SVP, Global | President, | VP, NA Sales |
Officer | Marketing | International |
BOD members | Kevin Cameron | Taylor Harris | Sheila Hopkins | Nicholas Lewin | Keith Sullivan |
Board Chairperson | Director | Director | Director | Director | |
5
Expanding Global Footprint
Clinically-Focused and Robust Sales Infrastructure
Direct Sales Distributors | 40+ |
Countries
% Revenue1
EMEA
20K+
Devices shipped
APAC
66 Source: (1) As of 2023; source: company filings
North
America
Comprehensive Portfolio of Energy-basedSolutions for Aesthetic Providers & Dermatologists
Skin tightening Fat reduction Muscle sculpting
$2B+
Body contouring1
Skin revitalization Vascular Pigment Scar revision
Tattoo removal
5 % C A G R T O 2 0 2 7
$3B+
Face & skin revitalization1
5 % C A G R T O 2 0 2 7
$14B+ Acne2
7 % C A G R T O 2 0 3 2
Source: (1) Medical Insight, Inc. 2024 Global Aesthetic Market Study | 2. Custom market insights
7 2023 Acne Treatment Market Size, Trends and Insights By Product Type report
Well-Established, Robust Franchises Support Continued Innovation & Entry into Acne Vertical
Face & skin | Body | Acne | |
revitalization | contouring | ||
AviClear® | |||
SkinSuite excel® V & V+ | TruBody | truSculpt® | |
Secret TM | truFlex TM |
xeo®
Other
enlighten® excel® HR
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Established Leader in
Professional Face & Skin
Revitalization Market
70% | ~90% |
of patients are bothered by | of pregnant women, 70% of |
lines, wrinkles, skin texture, | adolescent females and 40% of |
and / or discoloration1 | adolescent males have stretch marks2 |
56% | 40% |
of consumers are considering | of active acne patients |
treatments to help smooth | have scars3 |
wrinkles or tighten skin1 |
9 | Sources: 1. American Society for Dermatologic Surgery. ASDS survey on dermatologic procedures. | 2. Karia, U. K., Padhiar, B. B., & Shah, B. J. (2016). Evaluation of Various Therapeutic Measures in Striae Rubra. Journal of cutaneous and aesthetic |
surgery, 9(2), 101-105. | 3. Dréno, B., Tan, J., Kang, S., Rueda, M. J., Torres Lozada, V., Bettoli, V., & Layton, A. M. (2016). How People with Facial Acne Scars are Perceived in Society: an Online Survey. Dermatology and therapy, 6(2), 207-218. | |
Skin revitalization Skin resurfacing Pigmented lesions
Vascular lesions
Hair removal
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Introducing xeo+®
Key Features
- Customizable, multi-application laser- and light- based modular, expandable platform
- Treats the industry's widest range of common non- surgical aesthetic concerns
- +20 years on the market
- Features Cutera's legacy in Nd:YAG technology, Laser GenesisTM, and 3 IPL handpiece options
- High practice ROI
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Cutera Inc. published this content on 15 April 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 15 April 2024 23:42:02 UTC.