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1. Company Snapshot

1.a. Company Description

Cutera, Inc., a medical device company, researches, develops, manufactures, markets, and services laser and energy-based aesthetics systems for practitioners worldwide.The company offers Secret PRO, a device that utilizes fractional CO2 for skin resurfacing and radio frequency (RF) microneedling for deep dermal remodeling; truSculpt flex, a bio-electrical muscle stimulation device to treat patients at all fitness levels; excel V+, a vascular and benign pigmented lesion treatment platform; truSculpt iD, for the non-surgical body sculpting market; and Secret RF, a fractional RF microneedling system for tissue coagulation and hemostasis.It also provides enlighten platform, a laser system that is used for tattoo removal, as well as to treat benign pigmented lesions and acne scars; excel HR platform, a hair removal solution for various skin types; and xeo platform, a multi-application platform on which a customer purchases hand piece applications for the removal of unwanted hair, treatment of vascular lesions, and skin revitalization by treating discoloration, fine lines, and laxity.


In addition, the company distributes skincare products; and offers post-warranty services through extended service contracts or direct billing.Further, it provides pulsed light hand pieces for the treatment of discoloration, hair removal, and vascular treatments; and Pearl and Pearl Fractional hand pieces, as well as sells hand piece refills, cycle refills, consumable tips, and marketing brochures through the company's website.The company markets and sells its products through direct sales force to plastic surgeons, dermatologists, gynecologists, family practitioners, primary care physicians, and other qualified practitioners, as well as for physicians performing aesthetic treatments in non-medical offices.


Cutera, Inc.was incorporated in 1988 and is headquartered in Brisbane, California.

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1.b. Last Insights on CUTR

Cutera Inc.'s recent performance was negatively impacted by the company's debt burden and need for restructuring. In an effort to strengthen its financial foundation, Cutera initiated a restructuring transaction to reduce its debt by nearly $400 million and raise $65 million in new capital. This move is expected to position the company for long-term success. However, the company faces intense competition in the dermatology devices market, which is projected to grow at a CAGR of 15.4% driven by heightened awareness of skin health and a rise in dermatological condition prevalence.

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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Cutera® Successfully Completes Restructuring Transaction and Moves Forward with Enhanced Capital Structure

May -01

Source: businesswire.com

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Cutera Announces Voluntarily Delisting from Nasdaq

Mar -10

Source: businesswire.com

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Cutera Takes Steps to Strengthen Financial Foundation and Position the Company for Long-Term Success

Mar -05

Source: businesswire.com

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Dermatology Devices Market Report 2025, with Key Player Profiles for Cutera, Lumenis, Alma Lasers, Solta Medical and Aesthetic Group

Feb -11

Source: globenewswire.com

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Aesthetic Medicine Market Expected To Reach USD 170.41 Billion by 2032, Growing at CAGR 8.40% | Allergan, Alma Lasers, Cutera, Cynosure

Jan -15

Source: globenewswire.com

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Cutera® Announces Partnership with the Adaptive Training Foundation

Nov -12

Source: businesswire.com

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Cutera, Inc. (CUTR) Q3 2024 Earnings Call Transcript

Nov -10

Source: seekingalpha.com

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Cutera (CUTR) Reports Q3 Loss, Misses Revenue Estimates

Nov -07

Source: zacks.com

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (5.74%)

6. Segments

Systems

Expected Growth: 5.5%

Cutera, Inc.'s 5.5% growth is driven by increasing demand for its aesthetic devices, particularly in the body contouring and skin revitalization segments. Expanding product portfolio, strategic partnerships, and growing adoption in emerging markets also contribute to growth. Additionally, the company's focus on innovation, customer loyalty, and effective sales and marketing strategies support its growth momentum.

Skincare

Expected Growth: 5.8%

Cutera's skincare segment growth of 5.8% is driven by increasing demand for non-invasive aesthetic treatments, growing adoption of laser-based solutions, and expanding distribution channels. Additionally, the company's strategic partnerships, innovative product launches, and strong brand recognition contribute to its market share gain.

Consumables

Expected Growth: 6.2%

Cutera's Consumables segment growth of 6.2% is driven by increasing adoption of its aesthetic treatment platforms, particularly in the non-invasive body contouring and skin revitalization markets. Strong demand for its proprietary consumable tips and cartridges, as well as growth in the number of installed systems, contribute to this upward trend.

Service

Expected Growth: 6.5%

Cutera's 6.5% growth is driven by increasing demand for aesthetic treatments, particularly in the laser hair removal and body contouring segments. Expanding product portfolio, strategic partnerships, and growing adoption in emerging markets also contribute to growth. Additionally, the company's focus on innovation, customer loyalty, and effective marketing strategies further support its growth momentum.

7. Detailed Products

Laser Hair Removal

Cutera's laser hair removal systems use advanced technology to target and eliminate unwanted hair, providing long-term hair reduction and smooth skin.

Skin Revitalization

Cutera's skin revitalization systems utilize non-invasive, non-surgical treatments to improve skin texture, tone, and appearance, reducing fine lines, wrinkles, and hyperpigmentation.

Vein Therapy

Cutera's vein therapy systems use advanced laser technology to treat spider veins, reticular veins, and rosacea, providing effective and long-lasting results.

Body Contouring

Cutera's body contouring systems use advanced technology to target and reduce unwanted fat, providing a more toned and sculpted appearance.

Skin Tightening

Cutera's skin tightening systems use advanced technology to stimulate collagen production, improving skin elasticity and firmness.

8. Cutera, Inc.'s Porter Forces

Forces Ranking

Threat Of Substitutes

Cutera, Inc. operates in the medical aesthetics industry, where there are limited substitutes for its products and services. However, the company faces competition from other companies offering similar products and services, which could lead to a moderate threat of substitutes.

Bargaining Power Of Customers

Cutera, Inc. has a diverse customer base, including physicians, medical spas, and other healthcare professionals. The company's products and services are specialized, and customers may not have significant bargaining power to negotiate prices or terms.

Bargaining Power Of Suppliers

Cutera, Inc. has a diversified supply chain, and the company is not heavily dependent on a single supplier. The company's suppliers may not have significant bargaining power to negotiate prices or terms.

Threat Of New Entrants

The medical aesthetics industry is highly competitive, and new entrants may pose a significant threat to Cutera, Inc.'s market share. The company faces competition from established companies and new startups, which could lead to a high threat of new entrants.

Intensity Of Rivalry

The medical aesthetics industry is highly competitive, and Cutera, Inc. faces intense competition from established companies and new entrants. The company must differentiate its products and services to maintain its market share and competitive edge.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 168.70%
Debt Cost 3.95%
Equity Weight -68.70%
Equity Cost 11.14%
WACC -1.00%
Leverage -245.57%

11. Quality Control: Cutera, Inc. passed 4 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Hyperfine

A-Score: 4.7/10

Value: 6.8

Growth: 7.4

Quality: 4.0

Yield: 0.0

Momentum: 9.0

Volatility: 0.7

1-Year Total Return ->

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Paragon 28

A-Score: 4.5/10

Value: 6.6

Growth: 1.7

Quality: 4.6

Yield: 0.0

Momentum: 10.0

Volatility: 4.3

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Treace Medical Concepts

A-Score: 4.4/10

Value: 7.4

Growth: 3.3

Quality: 4.6

Yield: 0.0

Momentum: 8.0

Volatility: 3.0

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AdaptHealth

A-Score: 4.3/10

Value: 8.0

Growth: 6.4

Quality: 3.7

Yield: 0.0

Momentum: 4.0

Volatility: 3.7

1-Year Total Return ->

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Apyx Medical

A-Score: 3.9/10

Value: 6.8

Growth: 2.9

Quality: 3.6

Yield: 0.0

Momentum: 9.5

Volatility: 0.7

1-Year Total Return ->

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Stock-Card
Cutera

A-Score: 2.8/10

Value: 10.0

Growth: 1.6

Quality: 5.2

Yield: 0.0

Momentum: 0.0

Volatility: 0.0

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

0.1$

Current Price

0.1$

Potential

0.00%

Expected Cash-Flows