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STRATA Skin Sciences Reports Third Quarter 2021 Financial Results Horsham , Pa , November 10 , 2021 —STRATA Skin Sciences , Inc. ( NASDAQ : SSKN ) , a medical technology company dedicated to developing , commercializing and marketing innovative products for the treatment of dermatologic conditions , today announced financial results for the quarter ended September 30 , 2021 . Third Quarter 2021 Highlights EXHIBIT 99.1 Total revenue was $ 7.7 million , an increase of 37.4 % as compared to the third quarter of 2020 Recurring revenue was $ 5.7 million , a 48.9 % increase over the third quarter of 2020 Gross domestic recurring billings were $ 5.8 million , a 23.5 % increase over the third quarter 2020 ( See Reconciliation of Non - GAAP measures below ) Total gross margins were 69.7 % , a 12.2 % increase over third quarter 2020 Entered into a credit and security agreement with MidCap Financial Trust , providing STRATA with a senior secured term loan facility of $ 8 million Eliminated restricted cash Cash and cash equivalents at September 30 , 2021 were $ 13.1 million Concluded the quarter with a global recurring revenue installed base of 929 XTRAC devices , an increase of 40 devices from June 30 , 2021 , including 13 conversions of Ra Medical Pharos customers Completed acquisition of U.S. dermatology business of Ra Medical Systems Appointed Christopher Lesovitz as Chief Financial Officer " We are pleased with our third quarter results and the continued progress we are making in regaining and increasing commercial traction . Once again , our business showed a significant topline year - over - year increase , particularly in recurring revenues , demonstrating increased utilization ; and a testament to the strong execution of our new strategic initiatives , ” said Robert J. Moccia , Chief Executive Officer of STRATA Skin Sciences . " Our business continues to gain momentum towards pre - Covid revenues , ” continued Mr. Moccia . " We are seeing patient visits return to a more normalized level , although staffing in certain parts of the country remains a challenge for some dermatology offices . We expect these staffing - related headwinds to continue to diminish as we move through the second half of Q4 and into 2022. We still believe that , by the end of this year , we will return to 2019 revenue levels . Further , our recent acquisition of Ra Medical's dermatology business is going as planned , and we expect the impact in 2022 will further accelerate our growth . " " Lastly , I would like to congratulate Chris Lesovitz on his appointment to CFO . He has transitioned quickly into the role , following his prior tenure as our controller , and I have complete confidence in his ability to lead our financial organization . " Third Quarter 2021 Financial Results Revenues were $ 7.7 million , as compared to revenues of $ 5.6 million for the third quarter of 2020. Recurring revenues were $ 5.7 million , as compared to recurring revenues of $ 3.8 million for the third quarter of 2020. Equipment revenues were $ 2.0 million , as compared to $ 1.8 million for the third quarter of 2020 . Gross profit was $ 5.4 million , or 69.7 % of revenues , as compared to $ 3.2 million , or 57.5 % of revenues , for the third quarter of 2020. Gross profit on recurring revenues was $ 4.2 million , or 73.5 % of recurring