STRATA Skin Sciences (SSKN) Company Report

STRATA Skin Sciences, Inc. (SSKN) reported Q3 2025 total revenue of $6.9 million, a 21% year-over-year decrease, primarily due to challenging international markets, while global net recurring revenue increased by 3% to $5.5 million.
As of September 30, 2025, the company held $7.1 million in cash. Cash from operations in 2024 was $0.2 million, with an underlying cash from operations of $1.3 million after adjustments for one-time income and interest payments.
A CPT code expansion, effective January 2027, is projected to more than triple the XTRAC addressable patient population to over 30 million by including approximately 30 new indications for inflammatory and autoimmune skin disorders.
In November 2024, Strata was granted an injunction against LaserOptek in a lawsuit over false advertising and unfair competition, which could result in substantial damages.

Dec 17, 2025, 9:31 PM

8-K

STRATA Skin Sciences Highlights Product Adoption and Revenue Potential at TeraCILAD 2025

SSKN

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

STRATA Skin Sciences showcased its XTRAC® excimer laser and TheraclearX® acne therapy system at the 2025 Ibero-Latin American Congress of Dermatology (TeraCILAD).
The company anticipates having over 12 new recurring TheraclearX® accounts in Mexico by the end of 2025, reflecting growing adoption of this innovative acne treatment.
CEO Dolev Rafaeli noted that fully developed partner clinics with XTRAC placements in other countries can realize upwards of $30,000 in annual revenue per clinic.

Dec 9, 2025, 1:15 PM

Press Release

STRATA Skin Sciences Reports Q3 2025 Financial Results and Operational Updates

SSKN

Earnings

Legal Proceedings

Demand Weakening

STRATA Skin Sciences reported total revenue of $6.9 million for Q3 2025, a 20% decrease compared to Q3 2024, primarily attributed to challenging international environments. Despite this, global recurring revenue increased 3% year over year to $5.5 million.
The company recorded a net loss of $1.6 million, or negative $0.36 EPS, for Q3 2025, an improvement from a net loss of $2.1 million (negative $0.51 EPS) in Q3 2024. Adjusted EBITDA was slightly positive in Q3 2025, compared to negative $240,000 in the prior year period.
A significant future growth driver is the expansion of CPT codes for XTRAC 308 nanometer excimer laser treatments, effective January 1, 2027, which is expected to triple the total addressable market to over 30 million patients by expanding reimbursement eligibility to multiple inflammatory and autoimmune skin conditions.
Operational improvements include an 8.5% increase in average gross billings per device to $5,981 for Q3 2025, the highest since Q4 2022, driven by increased utilization through the Elevate 360 program and removal of non-productive devices.
The company achieved regulatory approval and initial commercial placement for TheraClearX in Mexico, with a goal to deploy closer to 200 devices by the end of 2025. Ongoing litigation against LaserOptic has also resulted in over 20 former LaserOptic buyers partnering with STRATA, representing over $1 million in annual capital and recurring revenue.

Nov 13, 2025, 9:30 PM

Transcript

STRATA Skin Sciences Reports Q3 2025 Financial Results and Corporate Updates

SSKN

Earnings

Legal Proceedings

New Projects/Investments

STRATA Skin Sciences reported Q3 2025 revenue of $6.9 million, a 21% decrease year-over-year, but achieved a net loss of $1.6 million (EPS of negative $0.36), an improvement from a $2.1 million net loss in Q3 2024. Non-GAAP adjusted EBITDA was $10 thousand for Q3 2025, up from negative $240 thousand in Q3 2024.
The company made progress toward historic expansion of CPT codes for reimbursement, potentially tripling the covered patient population, and secured COFEPRIS clearance for TheraClearX in Mexico with first commercial placements.
Average gross billings per device increased 8.5% to $5,981 over the comparable prior-year period. The U.S. install base of XTRAC devices declined by 6 to 838 during Q3 2025.
Positive developments in the lawsuit against LaserOptek included adding new defendants, and the company reported cash and cash equivalents of $7.1 million as of September 30, 2025.

Nov 13, 2025, 9:16 PM

8-K

STRATA Skin Sciences Announces CMS Confirmation of Excimer Laser Reimbursement and Future Code Expansion

SSKN

New Projects/Investments

Revenue Acceleration/Inflection

The Centers for Medicare & Medicaid Services (CMS) confirmed continued reimbursement for excimer laser treatments under CPT codes 96920, 96921, and 96922, with an approximately 3.5% increase in payment for calendar year 2026 compared to 2025.
The current CPT codes remain exclusive to excimer laser technology until at least January 1, 2027, when expanded code descriptors will include additional inflammatory and autoimmune skin conditions beyond psoriasis.
CMS will incorporate extensive clinical and real-world cost data submitted by STRATA and other stakeholders into its CY 2027 rulemaking process, acknowledging the upcoming expansion of indications.

Nov 6, 2025, 1:00 PM

Press Release

STRATA Skin Sciences Secures COFEPRIS Clearance for TheraClearX® in Mexico

SSKN

Product Launch

New Projects/Investments

Revenue Acceleration/Inflection

STRATA Skin Sciences (SSKN) has secured COFEPRIS regulatory clearance for its TheraClearX® acne treatment system in Mexico, valid through November 2029, marking a significant step in its international expansion.
The company has begun its commercial rollout in Mexico, partnering with MINO Labs, and has completed the first placement of the TheraClearX® system with Dr. Melissa Lomelí Canedo in Mexico City.
STRATA will leverage a usage-based partnership model for TheraClearX® in Mexico, similar to its U.S. strategy, to capitalize on a professional acne medication market projected to nearly double by 2030.

Oct 28, 2025, 12:00 PM

Press Release

STRATA Skin Sciences Provides Litigation and Market Share Update

SSKN

Legal Proceedings

Revenue Acceleration/Inflection

New Projects/Investments

The U.S. District Court partially granted STRATA's preliminary injunction against LaserOptek and affiliates, prohibiting them from falsely claiming reimbursement eligibility for Pallas laser systems under CPT Codes 96920–96922 and from making misleading statements about STRATA's products. LaserOptek Korea was also added as a defendant.
STRATA has successfully engaged over 20 dermatology clinics that previously used LaserOptek Pallas, leading to over $1 million in annualized capital and recurring revenue from new XTRAC excimer laser partnerships.
As of June 30, 2025, STRATA's XTRAC and Pharos devices are used by all approximately 1,200 U.S. dermatology clinics utilizing excimer laser therapy for specific CPT codes, with 844 of these clinics participating in STRATA's partnership program.
The American Medical Association CPT Board reaffirmed exclusive use of excimer lasers under codes 96920–96922 until January 1, 2027, with plans to broaden these codes to include up to 30 dermatologic conditions, potentially expanding the patient population four-fold.

Oct 20, 2025, 12:00 PM

Press Release

STRATA Skin Sciences Announces Positive Clinical Study for XTRAC Excimer Laser in Rare Lymphoma Subtype

SSKN

New Projects/Investments

Revenue Acceleration/Inflection

STRATA Skin Sciences announced a clinical case study demonstrating the successful use of its XTRAC 308-nm excimer laser to treat poikilodermatous mycosis fungoides (pMF), a rare subtype of cutaneous T-cell lymphoma.
This peer-reviewed study, published in Case Reports in Oncology, represents the first English-language report validating excimer laser therapy as a safe and effective option for this difficult-to-treat condition.
The company's President and CEO noted that the Centers for Medicare and Medicaid Services (CMS) have significantly expanded reimbursement codes for a wider variety of inflammatory skin conditions, including MF and pMF, due to the XTRAC's versatility.
A 2022 systematic review also concluded that the 308-nm excimer laser is a safe and effective treatment for early-stage mycosis fungoides, with 73.6% of patients achieving a complete clinical response.

Oct 14, 2025, 12:17 PM

Press Release

STRATA Skin Sciences Highlights XTRAC® Excimer Laser for Atopic Dermatitis

SSKN

New Projects/Investments

STRATA Skin Sciences highlights the XTRAC® Excimer Laser as a safe and highly effective treatment for localized atopic dermatitis, supported by peer-reviewed clinical evidence.
The American Medical Association (AMA) has expanded excimer laser's indications to inflammatory and autoimmune skin diseases, clearing the way for Medicare, Medicaid, and private payer reimbursement for atopic dermatitis treatment.
Clinical studies demonstrate the XTRAC® Excimer Laser's efficacy, with one study showing a 69% reduction in disease severity and 87% of patients achieving clear or almost clear skin for severe chronic hand and foot eczema.
The XTRAC® Excimer Laser offers benefits such as targeted therapy, effectiveness for difficult areas, lower UV exposure, convenience, and being steroid-sparing.

Oct 3, 2025, 2:50 PM

Press Release

STRATA Skin Sciences Announces New Study Validating XTRAC Excimer Laser Treatment

SSKN

New Projects/Investments

A new peer-reviewed study published in Lasers in Medical Science validates that STRATA Skin Sciences' XTRAC 308nm Excimer Laser combined with 0.1% tacrolimus ointment significantly improves outcomes for plaque-type psoriasis patients compared to topical monotherapy.
The retrospective observational study, involving 100 adult patients, showed the combination therapy group's mean PASI dropped from 18.36 to 3.30, a statistically significant improvement over the monotherapy group.
This research reinforces the company's commitment to personalized medicine through individualized laser dosing and supports the XTRAC system's integration with other therapies.
STRATA's President and CEO, Dr. Dolev Rafaeli, stated that this publication adds weight to their case with CMS to expand reimbursement for Excimer therapy.