2024 Q2 Form 10-Q Financial Statement

#000162828024022635 Filed on May 10, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q4
Revenue $34.38M $38.79M $49.54M
YoY Change -43.84% -29.46% -26.45%
Cost Of Revenue $26.73M $26.37M $43.30M
YoY Change -19.39% -12.28% 51.37%
Gross Profit $7.644M $12.42M $6.241M
YoY Change -72.75% -50.18% -83.89%
Gross Profit Margin 22.24% 32.01% 12.6%
Selling, General & Admin $24.99M $36.56M $45.99M
YoY Change -51.77% -13.02% 18.3%
% of Gross Profit 326.86% 294.37% 736.95%
Research & Development $4.463M $5.001M $4.564M
YoY Change -22.84% -22.68% -15.61%
% of Gross Profit 58.39% 40.27% 73.13%
Depreciation & Amortization $1.804M $1.991M $3.350M
YoY Change -54.8% -44.49% 229.08%
% of Gross Profit 23.6% 16.03% 53.68%
Operating Expenses $29.45M $31.85M $50.56M
YoY Change -48.86% -34.32% 14.16%
Operating Profit -$21.80M -$19.43M -$44.32M
YoY Change -26.16% -17.55% 700.51%
Interest Expense $1.025M $1.455M -$1.183M
YoY Change -52.96% -41.31% 158.86%
% of Operating Profit
Other Income/Expense, Net -$2.896M -$3.371M $1.038M
YoY Change 61.88% 186.89% -200.68%
Pretax Income -$24.70M -$22.80M -$44.46M
YoY Change -21.13% -7.84% 532.99%
Income Tax -$19.00K -$25.00K $769.0K
% Of Pretax Income
Net Earnings -$24.68M -$22.80M -$45.23M
YoY Change -22.0% -8.86% 480.77%
Net Earnings / Revenue -71.8% -58.77% -91.3%
Basic Earnings Per Share -$1.23 -$1.14 -$2.87
Diluted Earnings Per Share -$1.23 -$1.14 -$2.27
COMMON SHARES
Basic Shares Outstanding 20.07M shares 19.96M shares
Diluted Shares Outstanding 20.09M shares 19.99M shares

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q4
SHORT-TERM ASSETS
Cash & Short-Term Investments $83.12M $105.4M $143.6M
YoY Change -62.66% -60.6% -54.74%
Cash & Equivalents $83.12M $105.4M $143.6M
Short-Term Investments $0.00
Other Short-Term Assets $380.0K $365.0K $19.63M
YoY Change -98.52% 5114.29% -20.65%
Inventory $80.35M $73.47M $61.73M
Prepaid Expenses $4.559M $2.933M $3.819M
Receivables $34.55M $37.02M $43.37M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $211.0M $235.2M $268.3M
YoY Change -42.97% -43.79% -40.53%
LONG-TERM ASSETS
Property, Plant & Equipment $39.53M $44.00M $47.33M
YoY Change -48.59% -32.39% -11.03%
Goodwill $1.339M $1.339M $1.339M
YoY Change 0.0% 0.0% 3.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $8.916M $10.31M $38.17M
YoY Change -41.0% -28.1% 150.92%
Total Long-Term Assets $65.31M $76.77M $86.83M
YoY Change -30.43% -5.62% 24.5%
TOTAL ASSETS
Total Short-Term Assets $211.0M $235.2M $268.3M
Total Long-Term Assets $65.31M $76.77M $86.83M
Total Assets $276.3M $312.0M $355.2M
YoY Change -40.43% -37.58% -31.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $17.62M $13.32M $19.83M
YoY Change -48.55% -62.14% -41.22%
Accrued Expenses $30.36M $47.12M $54.37M
YoY Change -43.54% -19.67% -9.78%
Deferred Revenue $8.798M $9.038M $10.42M
YoY Change -11.98%
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $714.0K $744.0K $825.0K
YoY Change 54.21% 55.0% 70.1%
Total Short-Term Liabilities $60.15M $72.70M $84.62M
YoY Change -41.63% -33.17% -20.05%
LONG-TERM LIABILITIES
Long-Term Debt $420.6M $420.2M $418.7M
YoY Change 0.59% 0.59% 0.54%
Other Long-Term Liabilities $1.242M $1.122M $11.68M
YoY Change 116.0% 57.81% -15.8%
Total Long-Term Liabilities $1.242M $1.122M $430.4M
YoY Change 116.0% 57.81% 0.01%
TOTAL LIABILITIES
Total Short-Term Liabilities $60.15M $72.70M $84.62M
Total Long-Term Liabilities $1.242M $1.122M $430.4M
Total Liabilities $492.0M $504.6M $515.0M
YoY Change -7.69% -6.36% -3.95%
SHAREHOLDERS EQUITY
Retained Earnings -$350.8M -$326.1M -$303.3M
YoY Change 77.92% 97.02% 115.88%
Common Stock $135.1M $133.6M $131.5M
YoY Change 5.55% 5.56% 4.86%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity -$215.7M -$192.6M -$159.8M
YoY Change
Total Liabilities & Shareholders Equity $276.3M $312.0M $355.2M
YoY Change -40.43% -37.58% -31.83%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q4
OPERATING ACTIVITIES
Net Income -$24.68M -$22.80M -$45.23M
YoY Change -22.0% -8.86% 480.77%
Depreciation, Depletion And Amortization $1.804M $1.991M $3.350M
YoY Change -54.8% -44.49% 229.08%
Cash From Operating Activities -$20.24M -$37.63M -$33.77M
YoY Change -35.25% 1.53% 98.35%
INVESTING ACTIVITIES
Capital Expenditures $882.0K $335.0K $2.599M
YoY Change -94.02% -97.0% -69.75%
Acquisitions
YoY Change
Other Investing Activities $6.000K $57.00K $0.00
YoY Change -99.99% -99.92% -100.0%
Cash From Investing Activities -$876.0K -$278.0K -$2.599M
YoY Change -101.94% -100.46% -110.31%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.00K -$260.0K -232.0K
YoY Change -91.5% -89.22% -100.25%
NET CHANGE
Cash From Operating Activities -20.24M -$37.63M -33.77M
Cash From Investing Activities -876.0K -$278.0K -2.599M
Cash From Financing Activities -13.00K -$260.0K -232.0K
Net Change In Cash -21.13M -$38.17M -36.60M
YoY Change -252.85% -282.59% -136.59%
FREE CASH FLOW
Cash From Operating Activities -$20.24M -$37.63M -$33.77M
Capital Expenditures $882.0K $335.0K $2.599M
Free Cash Flow -$21.13M -$37.97M -$36.37M
YoY Change -54.09% -21.26% 41.98%

Facts In Submission

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NetCashProvidedByUsedInOperatingActivities
-37018000 usd
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
335000 usd
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
10353000 usd
CY2024Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
57000 usd
CY2023Q1 us-gaap Proceeds From Sale Of Property Plant And Equipment
ProceedsFromSaleOfPropertyPlantAndEquipment
0 usd
CY2024Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
0 usd
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
94154000 usd
CY2024Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
0 usd
CY2023Q1 us-gaap Payments To Acquire Marketable Securities
PaymentsToAcquireMarketableSecurities
23467000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-278000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
60334000 usd
CY2024Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
0 usd
CY2023Q1 us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans Including Stock Options
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions
109000 usd
CY2024Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
64000 usd
CY2023Q1 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
2397000 usd
CY2024Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
196000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
124000 usd
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-260000 usd
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2412000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-38168000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
20904000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
143612000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
146624000 usd
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
105444000 usd
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
167528000 usd
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
0 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Finance Lease Liability
RightOfUseAssetObtainedInExchangeForFinanceLeaseLiability
33000 usd
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
2749000 usd
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
57000 usd
CY2024Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
0 usd
CY2023Q1 us-gaap Noncash Or Part Noncash Acquisition Fixed Assets Acquired1
NoncashOrPartNoncashAcquisitionFixedAssetsAcquired1
6894000 usd
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
817000 usd
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
778000 usd
CY2024Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
804000 usd
CY2023Q1 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
483000 usd
CY2024Q1 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
38 country
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
-22800000 usd
CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Reclassification</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company reclassified the interest expense portion previously recorded in interest income (expense), net to other income (expense), net on the condensed consolidated statement of operations. Corresponding reclassifications of prior period amounts have been made in the Company's condensed consolidated statement of operations to conform to the current period presentation. These reclassifications had no effect on the reported net loss.</span></div>
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of condensed consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the amounts reported of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements and the accompanying notes, and the reported amounts of revenue and expenses during the reported periods. Actual results could differ materially from those estimates.</span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On an ongoing basis, management evaluates its estimates, including those related to warranty obligations, sales commissions, allowance for credit losses, sales allowances, fair value of investments, valuation of inventories, fair value of goodwill, useful lives of property and equipment, impairment testing for long-lived assets, implicit and incremental borrowing rates related to the Company’s leases, variables used in calculating the fair value of the Company's equity awards, expected achievement of performance-based vesting criteria and management performance bonuses, assumptions used in operating and sales-type lease classifications, the standalone selling price of the Company's products and services, the period of benefit used to capitalize and amortize contract acquisition costs, variable considerations, contingent liabilities, recoverability of deferred tax assets, residual value of leased equipment, lease term and effective income tax rates. Management bases estimates on historical experience and on various other assumptions that are believed to be reasonable, the results of which form the basis for making judgments about the carrying values of assets and liabilities.</span></div>
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Distribution of Third-Party Products </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company generated revenue from the distribution of skincare products, which were manufactured by ZO Skin Health, Inc. (“ZO”), and sold in the Japanese market. In the three months ended March 31, 2024, and 2023, revenue from the distribution of skincare products was $4.2 million and $8.1 million, respectively, representing 11% and 15% of the Company’s consolidated revenue, respectively. </span></div><div style="margin-top:10pt;text-align:justify"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">On February 28, 2024, the Company and its Japanese subsidiary, Cutera KK, entered into a termination agreement (the “Termination Agreement”) with ZO USA and its Japanese subsidiary, ZO Skin Health GK (“ZO Japan” and together with ZO USA and their affiliates, “ZO”), which, among other things, (i) terminates all agreements related to the distribution by the Company of ZO’s products in Japan effective immediately, (ii) provides for the orderly transition of the distribution of ZO products to ZO, (iii) transfers certain Company employees dedicated to the distribution of ZO products to ZO, (iv) transfers certain customer contracts related to ZO products from the Company to ZO and (v) transfers certain inventory and assets related to the distribution of ZO products from the Company to ZO. The Termination Agreement requires ZO to pay the Company $5.75 million within three business days of the execution of the Termination Agreement and make a second payment of $5.75 million, less any offsets under the Termination Agreement (including, but not limited to, 42.2% of the Company’s net revenue for sales of ZO products under the Distribution Agreement between January 1, 2024 and February 28, 2024), upon the earlier of (a) the completion the transition of regulatory and distribution activities such that ZO is able to fulfill product orders by customers in Japan, as determined by ZO and the Company, and (b) June 14, 2024. The Company received the first payment of $5.75 million on February 29, 2024, and received a second payment of $2.37 million on April 1, 2024, which was net of $1.6 million in amounts owed by Cutera. The In the three months ended March 31, 2024, the Company recorded the net gain of $9.7 million resulting from the early termination proceeds received and the transfer of certain assets and liabilities as gain on early termination of distribution agreement on the Company's condensed consolidated statement of operations.</span></div>The Company generates revenue from the distribution of the Secret systems, which are manufactured by ilooda Co. Ltd. (“ilooda”). The Company is the exclusive distributor for all systems sold in the United States, Canada, the United Kingdom; the exclusive distributor for certain systems in France, and Spain; and the non-exclusive distributor for systems sold in Austria and Germany. In the three months ended March 31, 2024, and 2023, revenue from the distribution of Secret products represented 6% and 4%, respectively, of the Company’s consolidated revenue. The Company‘s ilooda distribution agreement expires in June 30, 2026.
CY2024Q1 cutr Termination Agreement Percent Net Revenue Reduction To Termination Fee Receivable
TerminationAgreementPercentNetRevenueReductionToTerminationFeeReceivable
0.422
CY2024Q1 us-gaap Gain Loss On Contract Termination
GainLossOnContractTermination
9700000 usd
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
105400000 usd
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
143600000 usd
CY2023Q4 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
0 usd
CY2024Q1 us-gaap Marketable Securities Current
MarketableSecuritiesCurrent
0 usd
CY2024Q1 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
51870000 usd
CY2023Q4 us-gaap Inventory Raw Materials Net Of Reserves
InventoryRawMaterialsNetOfReserves
36970000 usd
CY2024Q1 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
1978000 usd
CY2023Q4 us-gaap Inventory Work In Process Net Of Reserves
InventoryWorkInProcessNetOfReserves
889000 usd
CY2024Q1 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
19621000 usd
CY2023Q4 us-gaap Inventory Finished Goods Net Of Reserves
InventoryFinishedGoodsNetOfReserves
24741000 usd
CY2024Q1 us-gaap Inventory Net
InventoryNet
73469000 usd
CY2023Q4 us-gaap Inventory Net
InventoryNet
62600000 usd
CY2024Q1 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
13700000 usd
CY2023Q4 us-gaap Inventory Valuation Reserves
InventoryValuationReserves
13000000 usd
CY2024Q1 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
6884000 usd
CY2023Q4 us-gaap Income Taxes Receivable
IncomeTaxesReceivable
6307000 usd
CY2024Q1 us-gaap Deposits Assets Current
DepositsAssetsCurrent
6738000 usd
CY2023Q4 us-gaap Deposits Assets Current
DepositsAssetsCurrent
9501000 usd
CY2024Q1 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
2933000 usd
CY2023Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
3819000 usd
CY2024Q1 cutr Litigation Settlement Receivable Current
LitigationSettlementReceivableCurrent
2374000 usd
CY2023Q4 cutr Litigation Settlement Receivable Current
LitigationSettlementReceivableCurrent
0 usd
CY2024Q1 us-gaap Other Assets Current
OtherAssetsCurrent
365000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
225000 usd
CY2024Q1 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
19294000 usd
CY2023Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
19852000 usd
CY2024Q1 cutr Inventory Raw Materials Noncurrent
InventoryRawMaterialsNoncurrent
12864000 usd
CY2023Q4 cutr Inventory Raw Materials Noncurrent
InventoryRawMaterialsNoncurrent
8672000 usd
CY2024Q1 cutr Inventory Work In Process Noncurrent
InventoryWorkInProcessNoncurrent
1332000 usd
CY2023Q4 cutr Inventory Work In Process Noncurrent
InventoryWorkInProcessNoncurrent
2049000 usd
CY2024Q1 cutr Inventory Finished Goods Noncurrent
InventoryFinishedGoodsNoncurrent
6386000 usd
CY2023Q4 cutr Inventory Finished Goods Noncurrent
InventoryFinishedGoodsNoncurrent
5562000 usd
CY2024Q1 us-gaap Inventory Noncurrent
InventoryNoncurrent
20582000 usd
CY2023Q4 us-gaap Inventory Noncurrent
InventoryNoncurrent
16283000 usd
CY2024Q1 cutr Inventory Noncurrent Valuation Reserves
InventoryNoncurrentValuationReserves
19000000 usd
CY2023Q4 cutr Inventory Noncurrent Valuation Reserves
InventoryNoncurrentValuationReserves
12800000 usd
CY2024Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
42888000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Before Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetBeforeAccumulatedDepreciationAndAmortization
47602000 usd
CY2024Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
10924000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAccumulatedDepreciationAndAmortization
10327000 usd
CY2024Q1 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
31964000 usd
CY2023Q4 us-gaap Property Plant And Equipment And Finance Lease Right Of Use Asset After Accumulated Depreciation And Amortization
PropertyPlantAndEquipmentAndFinanceLeaseRightOfUseAssetAfterAccumulatedDepreciationAndAmortization
37275000 usd
CY2024Q1 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
14647000 usd
CY2023Q4 us-gaap Accrued Salaries Current
AccruedSalariesCurrent
13949000 usd
CY2024Q1 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
6531000 usd
CY2023Q4 us-gaap Sales And Excise Tax Payable Current
SalesAndExciseTaxPayableCurrent
6325000 usd
CY2024Q1 cutr Accrued Inventory In Transit Current
AccruedInventoryInTransitCurrent
5004000 usd
CY2023Q4 cutr Accrued Inventory In Transit Current
AccruedInventoryInTransitCurrent
5461000 usd
CY2024Q1 cutr Sales And Marketing Accruals Current
SalesAndMarketingAccrualsCurrent
4100000 usd
CY2023Q4 cutr Sales And Marketing Accruals Current
SalesAndMarketingAccrualsCurrent
4929000 usd
CY2024Q1 us-gaap Interest Payable Current
InterestPayableCurrent
3465000 usd
CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
1304000 usd
CY2024Q1 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2472000 usd
CY2023Q4 us-gaap Product Warranty Accrual Classified Current
ProductWarrantyAccrualClassifiedCurrent
2593000 usd
CY2024Q1 cutr Litigation Settlement Payable Current
LitigationSettlementPayableCurrent
750000 usd
CY2023Q4 cutr Litigation Settlement Payable Current
LitigationSettlementPayableCurrent
8908000 usd
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
10150000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
11586000 usd
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
47119000 usd
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
55055000 usd
CY2023Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2593000 usd
CY2022Q4 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3254000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1156000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Warranties Issued
StandardProductWarrantyAccrualWarrantiesIssued
1016000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1277000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual Payments
StandardProductWarrantyAccrualPayments
1116000 usd
CY2024Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
2472000 usd
CY2023Q1 us-gaap Standard Product Warranty Accrual
StandardProductWarrantyAccrual
3154000 usd
CY2023Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
11916000 usd
CY2022Q4 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
13498000 usd
CY2024Q1 cutr Contract With Customer Liability Increase Advance Payments Received
ContractWithCustomerLiabilityIncreaseAdvancePaymentsReceived
3850000 usd
CY2023Q1 cutr Contract With Customer Liability Increase Advance Payments Received
ContractWithCustomerLiabilityIncreaseAdvancePaymentsReceived
6045000 usd
CY2024Q1 cutr Contract With Customer Liability Decrease From Revenue Deferred
ContractWithCustomerLiabilityDecreaseFromRevenueDeferred
572000 usd
CY2023Q1 cutr Contract With Customer Liability Decrease From Revenue Deferred
ContractWithCustomerLiabilityDecreaseFromRevenueDeferred
615000 usd
CY2024Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
4739000 usd
CY2023Q1 us-gaap Contract With Customer Liability Revenue Recognized
ContractWithCustomerLiabilityRevenueRecognized
5229000 usd
CY2024Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
10455000 usd
CY2023Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
13699000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation Percentage
RevenueRemainingPerformanceObligationPercentage
0.86
CY2024Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
10500000 usd
CY2024Q1 us-gaap Revenue Remaining Performance Obligation Expected Timing Of Satisfaction Period1
RevenueRemainingPerformanceObligationExpectedTimingOfSatisfactionPeriod1
P12M
CY2024Q1 cutr Costs For Extended Service Contracts
CostsForExtendedServiceContracts
1600000 usd
CY2023Q1 cutr Costs For Extended Service Contracts
CostsForExtendedServiceContracts
1600000 usd
CY2024Q1 cutr Revenue From Contract With Customer Typical Payment Receipt Period Post Shipment
RevenueFromContractWithCustomerTypicalPaymentReceiptPeriodPostShipment
P30D
CY2024Q1 cutr Contract With Customer Liability Training Provided With Sale Of System Period
ContractWithCustomerLiabilityTrainingProvidedWithSaleOfSystemPeriod
P90D
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3554537 shares
CY2024Q1 cutr Share Based Compensation Arrangement By Share Based Payment Shares Available For Grant Additional Share Reserved
ShareBasedCompensationArrangementByShareBasedPaymentSharesAvailableForGrantAdditionalShareReserved
0 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
32396 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
43582 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
2981015 shares
CY2024Q1 cutr Share Based Payment Arrangement Shares Granted Tax Withholding Ratio
ShareBasedPaymentArrangementSharesGrantedTaxWithholdingRatio
1.65
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1282240 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
17.97
CY2023 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P8Y2M15D
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
520000 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
2.11
CY2024Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0 shares
CY2024Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
43582 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriodWeightedAverageExercisePrice
33.88
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
1758658 shares
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
12.89
CY2024Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P7Y10M13D
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
2109000 usd
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
3386000 usd
CY2024Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-22778000 usd
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-28048000 usd
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19991000 shares
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
19776000 shares
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19991000 shares
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
19776000 shares
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.14
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.42
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.14
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.42
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
21662000 shares
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
18554000 shares
CY2024Q1 cutr Income Tax Expense Benefit Total
IncomeTaxExpenseBenefitTotal
-100000 usd
CY2023Q1 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
300000 usd
CY2024Q1 us-gaap Lessee Finance Lease Renewal Term1
LesseeFinanceLeaseRenewalTerm1
P5Y
CY2024Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
12034000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
10055000 usd
CY2024Q1 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2228000 usd
CY2023Q4 us-gaap Finance Lease Right Of Use Asset
FinanceLeaseRightOfUseAsset
2516000 usd
CY2024Q1 cutr Lease Right Of Use Asset
LeaseRightOfUseAsset
14262000 usd
CY2023Q4 cutr Lease Right Of Use Asset
LeaseRightOfUseAsset
12571000 usd
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
3231000 usd
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
2441000 usd
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
10046000 usd
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
8887000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
13277000 usd
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
11328000 usd
CY2024Q1 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
744000 usd
CY2023Q4 us-gaap Finance Lease Liability Current
FinanceLeaseLiabilityCurrent
825000 usd
CY2024Q1 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
888000 usd
CY2023Q4 us-gaap Finance Lease Liability Noncurrent
FinanceLeaseLiabilityNoncurrent
1064000 usd
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
1632000 usd
CY2023Q4 us-gaap Finance Lease Liability
FinanceLeaseLiability
1889000 usd
CY2024Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
274000 usd
CY2023Q1 us-gaap Finance Lease Right Of Use Asset Amortization
FinanceLeaseRightOfUseAssetAmortization
150000 usd
CY2024Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
42000 usd
CY2023Q1 us-gaap Finance Lease Interest Expense
FinanceLeaseInterestExpense
20000 usd
CY2024Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
969000 usd
CY2023Q1 us-gaap Operating Lease Expense
OperatingLeaseExpense
891000 usd
CY2024Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
40000 usd
CY2023Q1 us-gaap Finance Lease Interest Payment On Liability
FinanceLeaseInterestPaymentOnLiability
20000 usd
CY2024Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
196000 usd
CY2023Q1 us-gaap Finance Lease Principal Payments
FinanceLeasePrincipalPayments
124000 usd
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
948000 usd
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
699000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2895000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
3981000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
4027000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
3299000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
323000 usd
CY2024Q1 cutr Lessee Operating Lease Liability To Be Paid Due After Year Four
LesseeOperatingLeaseLiabilityToBePaidDueAfterYearFour
143000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14668000 usd
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1391000 usd
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
13277000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Remainder Of Fiscal Year
FinanceLeaseLiabilityPaymentsRemainderOfFiscalYear
731000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Due Next Twelve Months
FinanceLeaseLiabilityPaymentsDueNextTwelveMonths
697000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Two
FinanceLeaseLiabilityPaymentsDueYearTwo
424000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Due Year Three
FinanceLeaseLiabilityPaymentsDueYearThree
16000 usd
CY2024Q1 us-gaap Finance Lease Liability Payments Due
FinanceLeaseLiabilityPaymentsDue
1868000 usd
CY2024Q1 us-gaap Finance Lease Liability Undiscounted Excess Amount
FinanceLeaseLiabilityUndiscountedExcessAmount
236000 usd
CY2024Q1 us-gaap Finance Lease Liability
FinanceLeaseLiability
1632000 usd
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P3Y8M12D
CY2024Q1 us-gaap Finance Lease Weighted Average Remaining Lease Term1
FinanceLeaseWeightedAverageRemainingLeaseTerm1
P2Y3M18D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.057
CY2024Q1 us-gaap Finance Lease Weighted Average Discount Rate Percent
FinanceLeaseWeightedAverageDiscountRatePercent
0.095
CY2024Q1 us-gaap Lessor Operating Lease Term Of Contract
LessorOperatingLeaseTermOfContract
P3Y
CY2024Q1 cutr Lessor Duration Of Autorenewal Features
LessorDurationOfAutorenewalFeatures
P1Y
CY2024Q1 cutr Number Of Consecutive Lease Terms
NumberOfConsecutiveLeaseTerms
2 lease_term
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
5615000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
2600000 usd
CY2024Q1 us-gaap Lessor Operating Lease Payments To Be Received
LessorOperatingLeasePaymentsToBeReceived
8215000 usd
CY2023Q1 us-gaap Loss Contingency Patents Allegedly Infringed Number
LossContingencyPatentsAllegedlyInfringedNumber
6 patent
CY2023Q1 us-gaap Loss Contingency Patents Allegedly Infringed Number
LossContingencyPatentsAllegedlyInfringedNumber
6 patent
CY2023Q1 us-gaap Loss Contingency Patents Allegedly Infringed Number
LossContingencyPatentsAllegedlyInfringedNumber
6 patent
CY2024Q1 us-gaap Purchase Obligation
PurchaseObligation
9700000 usd
CY2023Q4 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2023Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q4 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2023Q4 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1 segment
CY2024Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
38793000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
54526000 usd
CY2024Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
38793000 usd
CY2023Q1 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
54526000 usd

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