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CUTR Nasdaq· Cutera Inc
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CUTR Nasdaq· Cutera Inc
Earnings report Q4 2023

CUTR's Revenue Decreases by 26% in Latest Quarter

Segments of revenue

In the quarter ended September 30, 2023, CUTR reported consolidated revenue of $46.5 million. This represents a significant decrease of 26% compared to the corresponding quarter of the previous fiscal year. However, it is important to note that these results are preliminary and subject to adjustment due to an inventory accounting issue.

Strengths

Despite the decrease in revenue, CUTR's management has not provided specific comments regarding the reasons behind this decline. It is possible that the inventory accounting issue mentioned in the report may have impacted the revenue figures. Once the issue is resolved, a clearer understanding of the company's performance can be obtained.

Challenges

The main weakness highlighted in the report is the inventory accounting issue, which resulted in a shortfall of inventory relative to the system of record in the range of $8 million. This issue has led to a delay in filing the Form 10-Q and the completion of financial statements. The company has acknowledged that additional time is required to address this matter and complete the necessary filings.

Noteworthy

The most noteworthy aspect of CUTR's performance in the latest quarter is the significant decrease in revenue compared to the previous year. However, it is important to consider the preliminary nature of these results and the potential impact of the inventory accounting issue. Once the issue is resolved and the financial statements are finalized, a more accurate assessment of the company's performance can be made.

Summary

CUTR experienced a 26% decrease in revenue in the latest quarter, which is subject to adjustment due to an inventory accounting issue. The company's management has not provided specific comments regarding the reasons behind this decline. The main challenge faced by CUTR is the inventory accounting issue, which has resulted in a delay in filing the Form 10-Q. Once this issue is resolved, a clearer understanding of the company's performance can be obtained.

Source documents

Form NT 10-Q  filed on Nov 13, 2023
60 pages scanned

Reference data

Company financials Q4 revenue 61.2M
Analyst estimates Q4 EPS beat by 27.93%
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