Revenue contracted by 3.0% in 2025Q4, while high SG&A expenses continue to consume the majority of the company's 60.4% gross profit.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 |
|---|
| Sales/Revenue | 30.7M | 33.56M | 33.36M | 36.16M | 29.98M | 23.09M | 31.59M | 29.86M | 31.45M | 31.76M | 18.5M | 915K | 536K | 278.46K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Revenue Growth % | -8.54% | 0.61% | -7.75% | 20.63% | 29.83% | -26.9% | 5.8% | -5.07% | -0.97% | 71.71% | 1921.31% | 70.71% | 92.49% | - | - | - | - | - | - | - | - | - | - |
| Cost of Goods Sold | 12.81M | 14.48M | 14.9M | 14.39M | 10.13M | 8.96M | 11.32M | 12.73M | 13.5M | 12.64M | 13.72M | 4.93M | 4.34M | 2.04M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| COGS % of Revenue | 41.75% | 43.15% | 44.66% | 39.8% | 33.78% | 38.79% | 35.83% | 42.66% | 42.92% | 39.79% | 74.18% | 539.34% | 809.89% | 733.44% | - | - | - | - | - | - | - | - | - |
| Gross Profit | 17.88M | 19.08M | 18.46M | 21.77M | 19.85M | 14.13M | 20.27M | 17.12M | 17.95M | 19.12M | 4.78M | -4.02M | -3.81M | -1.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Gross Margin % | 58.25% | 56.85% | 55.34% | 60.2% | 66.22% | 61.21% | 64.17% | 57.34% | 57.08% | 60.21% | 25.82% | -439.34% | -709.89% | -633.44% | - | - | - | - | - | - | - | - | - |
| Gross Profit Growth % | -6.29% | 3.36% | -15.19% | 9.66% | 40.44% | -30.27% | 18.4% | -4.63% | -6.12% | 300.36% | 218.81% | -5.65% | -115.72% | - | - | - | - | - | - | - | - | - | - |
| Operating Expenses | 23.72M | 28.34M | 27.07M | 26.42M | 24.25M | 18.21M | 23.28M | 20.48M | 20.36M | 22.72M | 21.25M | 12.6M | 19.32M | 20.96M | 20.46M | 20.23M | 18.58M | 18.27M | 13.08M | 12.1M | 6.46M | 3.13M | 1.86M |
| OpEx % of Revenue | 77.26% | 84.43% | 81.14% | 73.05% | 80.9% | 78.87% | 73.7% | 68.58% | 64.74% | 71.54% | 114.9% | 1377.27% | 3604.1% | 7527.34% | - | - | - | - | - | - | - | - | - |
| Selling, General & Admin | 23.3M | 23.59M | 23.46M | 25.39M | 22.82M | 16.94M | 22.28M | 19.41M | 18.65M | 20.79M | 19.22M | 10.96M | 15.54M | 14.17M | 10.81M | 8.74M | 7.63M | 5.77M | 5.4M | 4.53M | 2.64M | 1.23M | 1.03M |
| SG&A % of Revenue | 75.89% | 70.29% | 70.34% | 70.21% | 76.12% | 73.35% | 70.53% | 65.01% | 59.3% | 65.46% | 103.93% | 1197.92% | 2898.51% | 5088.24% | - | - | - | - | - | - | - | - | - |
| Research & Development | 421K | 883K | 1.32M | 1.03M | 1.43M | 1.27M | 1M | 1.06M | 1.71M | 1.93M | 2.03M | 1.64M | 3.78M | 6.79M | 9.66M | 11.5M | 10.95M | 12.51M | 7.68M | 7.57M | 3.82M | 1.89M | 828K |
| R&D % of Revenue | 1.37% | 2.63% | 3.95% | 2.85% | 4.78% | 5.52% | 3.17% | 3.57% | 5.44% | 6.07% | 10.97% | 179.34% | 705.6% | 2439.1% | - | - | - | - | - | - | - | - | - |
| Other Operating Expenses | 0 | 3.86M | 2.28M | 0 | 0 | 0 | 0 | 200K | 17K | 21K | 33K | 0 | 21K | 19.95K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -5.83M | -9.26M | -8.6M | -4.65M | -4.4M | -4.08M | -3.01M | -3.35M | -2.41M | -3.6M | -16.48M | -16.62M | -24.13M | -22.72M | -20.46M | -20.23M | -18.58M | -18.27M | -13.08M | -12.1M | -6.46M | -3.13M | -1.86M |
| Operating Margin % | -19.01% | -27.58% | -25.79% | -12.86% | -14.68% | -17.65% | -9.53% | -11.24% | -7.66% | -11.33% | -89.08% | -1816.61% | -4502.61% | -8160.77% | - | - | - | - | - | - | - | - | - |
| Operating Income Growth % | 36.95% | -7.57% | -85.07% | -5.61% | -8% | -35.42% | 10.28% | -39.21% | 33% | 78.17% | 0.88% | 31.13% | -6.2% | -11.06% | -1.12% | -8.9% | -1.68% | -39.73% | -8.08% | -87.38% | -106.6% | -67.87% | - |
| EBITDA | -1.37M | -3.95M | -2.7M | 1.04M | -316K | -165K | 1.81M | 2.04M | 3.93M | 2.77M | -12.42M | -14.83M | -21.7M | -21.76M | -19.9M | -19.68M | -18.27M | -17.97M | -12.87M | -11.96M | -6.44M | -3.1M | -1.83M |
| EBITDA Margin % | -4.46% | -11.76% | -8.1% | 2.87% | -1.05% | -0.71% | 5.73% | 6.84% | 12.48% | 8.72% | -67.17% | -1620.98% | -4047.57% | -7812.61% | - | - | - | - | - | - | - | - | - |
| EBITDA Growth % | 65.35% | -46.11% | -360.06% | 428.8% | -91.52% | -109.11% | -11.31% | -47.99% | 41.78% | 122.29% | 16.24% | 31.63% | 0.28% | -9.33% | -1.1% | -7.75% | -1.68% | -39.62% | -7.56% | -85.69% | -107.82% | -69.21% | - |
| D&A (Non-Cash Add-back) | 4.47M | 5.31M | 5.9M | 5.69M | 4.09M | 3.91M | 4.82M | 5.4M | 6.34M | 6.37M | 4.05M | 1.79M | 2.44M | 969.5K | 562.8K | 552.86K | 314.35K | 308.98K | 210.87K | 138.36K | 15.6K | 25.86K | 30K |
| EBIT | -5.83M | -8.15M | -9.28M | -4.56M | -2.36M | -3.93M | -3.01M | -3.35M | -1.8M | -3.6M | -16.48M | -16.62M | -25.38M | -22.67M | -20.38M | -19.92M | -18.45M | -17.61M | -11.96M | -11.37M | -6.28M | -3.1M | 0 |
| Net Interest Income | -1.55M | -1.86M | -1.41M | -837K | -299K | -61K | -515K | -1.14M | -3.2M | -4.9M | -10.2M | -2.37M | -556K | 32K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 410K | 242K | 231K | 89K | 15K | 150K | 0 | 0 | 0 | 0 | 0 | 8K | 8K | 32.03K | 54.37K | 31.58K | 45.26K | 467.59K | 1.05M | 728.05K | 173.89K | 27.93K | 0 |
| Interest Expense | 1.96M | 2.11M | 1.64M | 926K | 314K | 211K | 515K | 1.14M | 3.2M | 4.9M | 10.2M | 2.38M | 564K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | -414K | -1M | -2.32M | -837K | 1.73M | -61K | -929K | -942K | -19.59M | 517K | -8.35M | 2.48M | -1.81M | 52K | 77.52K | 312.32K | 128.52K | 669.17K | 1.11M | 728.53K | 173.89K | -67.04K | 0 |
| Pretax Income | -6.25M | -10.26M | -10.92M | -5.49M | -2.67M | -4.14M | -3.94M | -4.3M | -18.7M | -3.08M | -24.83M | -14.14M | -25.95M | -22.67M | -20.39M | -19.92M | -18.45M | -17.61B | -11.94B | -10.59B | -9B | 0 | 0 |
| Pretax Margin % | -20.36% | -30.56% | -32.74% | -15.17% | -8.91% | -17.92% | -12.47% | -14.39% | -59.47% | -9.7% | -134.24% | -1545.9% | -4841.04% | -8142.09% | - | - | - | - | - | - | - | - | - |
| Income Tax | 12K | -170K | -92K | 63K | 34K | 275K | -149K | -264K | 129K | 255K | 119K | 6.74M | 0 | 52.5K | -77.52K | 0 | -128.52K | -669.17K | -1.14M | 1.51B | -2.54B | 493.38K | 58K |
| Effective Tax Rate % | -0.19% | 1.66% | 0.84% | -1.15% | -1.27% | -6.65% | 3.78% | 6.14% | -0.69% | -8.28% | -0.48% | -47.68% | 0% | -0.23% | 0.38% | 0% | 0.7% | 0% | 0.01% | -14.23% | 28.26% | - | - |
| Net Income | -6.26M | -10.09M | -10.83M | -5.55M | -2.71M | -4.41M | -3.79M | -4.03M | -21.51M | -3.33M | -27.91M | -16.03M | -25.95M | -22.67M | -20.38M | -19.92M | -18.45M | -17.61M | -11.94M | -10.59M | -6.73M | -3.62M | -1.95M |
| Net Margin % | -20.4% | -30.05% | -32.47% | -15.35% | -9.03% | -19.11% | -12% | -13.51% | -68.41% | -10.5% | -150.9% | -1752.13% | -4841.04% | -8142.25% | - | - | - | - | - | - | - | - | - |
| Net Income Growth % | 37.92% | 6.87% | -95.17% | -105.06% | 38.67% | -16.41% | 6.03% | 81.25% | -545.1% | 88.05% | -74.08% | 38.21% | -14.44% | -11.23% | -2.32% | -7.96% | -4.82% | -47.48% | -12.71% | -57.46% | -85.85% | -85.6% | - |
| Net Income (Continuing) | -6.26M | -10.09M | -10.83M | -5.55M | -2.71M | -4.41M | -3.79M | -4.03M | -21.51M | -3.33M | -24.95M | -14.14M | -25.95M | -22.67M | -20.38M | -19.92M | -18.45M | -17.61M | -11.96M | -11.37M | -6.28M | -3.19M | -1.95M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.35 | -0.26 | -0.31 | -0.16 | -0.08 | -0.13 | -0.12 | -0.15 | -3.26 | -1.44 | -163.46 | -32.77 | -53.04 | -36.85 | -40.10 | -41.43 | -47.82 | -54.06 | -41.97 | -46.89 | -95.85 | -102.43 | -60.38 |
| EPS Growth % | -419.23% | 16.13% | -93.75% | -101.26% | 38.85% | -8.33% | 20% | 95.4% | -126.39% | 99.12% | -398.81% | 38.22% | -43.93% | 8.1% | 3.21% | 13.36% | 11.54% | -28.81% | 10.49% | 51.08% | 6.42% | -69.64% | - |
| EPS (Basic) | -1.35 | -0.26 | -0.31 | -0.16 | -0.08 | -0.13 | -0.12 | -0.15 | -3.26 | -3.77 | -163.50 | -151.36 | -302.46 | -36.85 | -40.10 | -41.43 | -47.82 | -54.06 | -41.97 | -46.89 | -95.85 | -102.43 | -60.38 |
| Diluted Shares Outstanding | 46.51M | 38.07M | 34.92M | 34.71M | 34.05M | 33.61M | 31.98M | 27.17M | 6.6M | 2.32M | 170.73K | 489.22K | 489.22K | 615.25K | 508.32K | 480.86K | 385.88K | 325.64K | 284.41K | 225.88K | 70.18K | 35.33K | 32.3K |
| Basic Shares Outstanding | 46.51M | 38.07M | 34.92M | 34.71M | 34.05M | 33.61M | 31.98M | 27.17M | 6.6M | 884.61K | 170.7K | 105.92K | 85.79K | 615.25K | 508.32K | 480.86K | 385.88K | 325.64K | 284.41K | 225.88K | 70.18K | 35.33K | 32.3K |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Limited liquidity and scale
According to the most recent quarterly filings, SSKN experienced a revenue contraction of 3.0% in 2025Q4, highlighting the ongoing difficulty in sustaining top-line growth as the company navigates a transition between legacy XTRAC placements and the newer TheraClear X system rollout across its dermatology network.
The inconsistent quarterly revenue performance suggests that the company's recurring revenue model is currently struggling to offset the maturity of its installed base. Investors should monitor whether the recent revenue fluctuations reflect genuine market saturation or merely the timing of new device placements within the partnership program.
As reported in financial statements, SSKN maintained a gross margin of 60.4% in 2025Q4, demonstrating a surprising degree of pricing power and cost discipline despite the broader revenue headwinds that have characterized the company's performance over the preceding ten-quarter period of operational volatility.
The ability to sustain gross margins above 60% suggests that the per-procedure fee structure remains intact, providing a stable foundation for potential future profitability. However, this margin profile appears highly sensitive to utilization rates, and any further decline in procedure volume could quickly erode these gains.
Based on the provided income statement data, SSKN's operating expenses continue to consume the majority of gross profit, with SG&A costs consistently hovering near $5.5 million to $6.7 million, which prevents the company from achieving meaningful operating leverage despite the high-margin nature of its recurring revenue.
The persistent gap between gross profit and operating income indicates that the company's fixed-cost structure, particularly regarding field service and marketing, is currently too heavy for its existing revenue scale. Achieving sustainable profitability will likely require a significant increase in device utilization to spread these fixed costs over a larger revenue base.
Analysis of recent financial disclosures reveals that SSKN's net income remains highly erratic, swinging from a $4.5 million loss in 2024Q4 to a marginal $58,000 profit in 2025Q4, a trend that warrants caution regarding the sustainability of current earnings improvements given the reliance on non-operating adjustments.
The volatility in net income suggests that the company's path to consistent profitability is not yet established, with small shifts in operating expenses having an outsized impact on the bottom line. Investors should scrutinize the extent to which recent positive net income is driven by operational efficiency versus temporary cost-cutting measures.
Data from the latest income statement suggests that with a limited cash position and a history of negative operating margins, SSKN faces significant execution risk, as the company may lack the necessary capital runway to fully scale the TheraClear X platform without further dilutive financing.
Short-term liquidity concerns appear to be the primary risk factor, as the company's ability to fund its ongoing operations is contingent upon immediate improvements in device utilization. The high debt-to-equity ratio further complicates this outlook, potentially limiting management's strategic flexibility in a competitive dermatology device market.
Quick answers to the most common questions about buying SSKN stock.
For fiscal year 2025, STRATA Skin Sciences, Inc. (SSKN) reported total revenue of $30.7M.
STRATA Skin Sciences, Inc. (SSKN) reported a net loss of $6.3M for the fiscal year ending 2025.
STRATA Skin Sciences, Inc. (SSKN) reported an operating income of $-5.8M, resulting in an operating profit margin of -19.0%. This margin reflects the operational efficiency of the business before interest and taxes.
STRATA Skin Sciences, Inc. (SSKN) generated $17.9M in gross profit for the year, representing a gross profit margin of 58.3%. This demonstrates the company's core pricing power and production efficiency.