0000000000-22-012059.txt : 20230328 0000000000-22-012059.hdr.sgml : 20230328 20221104133007 ACCESSION NUMBER: 0000000000-22-012059 CONFORMED SUBMISSION TYPE: UPLOAD PUBLIC DOCUMENT COUNT: 2 FILED AS OF DATE: 20221104 FILED FOR: COMPANY DATA: COMPANY CONFORMED NAME: CUTERA INC CENTRAL INDEX KEY: 0001162461 STANDARD INDUSTRIAL CLASSIFICATION: ELECTROMEDICAL & ELECTROTHERAPEUTIC APPARATUS [3845] IRS NUMBER: 770492262 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: UPLOAD BUSINESS ADDRESS: STREET 1: 3240 BAYSHORE BOULEVARD CITY: BRISBANE STATE: CA ZIP: 94005 BUSINESS PHONE: 94005 MAIL ADDRESS: STREET 1: 3240 BAYSHORE BOULEVARD CITY: BRISBANE STATE: CA ZIP: 94005 FORMER COMPANY: FORMER CONFORMED NAME: ALTUS MEDICAL INC DATE OF NAME CHANGE: 20011119 PUBLIC REFERENCE ACCESSION NUMBER: 0001628280-22-004539 LETTER 1 filename1.pdf begin 644 filename1 M)5!$1BTQ+C4*)>+CS],*,2 P(&]B:@H\/"]#;VQO7!E+UA/8FIE8W0O5VED=&@@,30R."],96YG=&@@,S8U+T)I='-097)# M;VUP;VYE;G0@.#X^7M0Q1$1$1$1$1&3"Q\<'QA6_?__&K *98K_? 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filename2.txt United States securities and exchange commission logo November 4, 2022 Rohan Seth Chief Financial Officer CUTERA INC 3240 Bayshore Blvd. Brisbane , California 94005 Re: CUTERA INC Form 10-K for Fiscal Year Ended December 31, 2021 Filed March 1, 2022 Form 8-K Filed February 22, 2022 File No. 000-50644 Dear Rohan Seth: We have limited our review of your filing to the financial statements and related disclosures and have the following comments. In some of our comments, we may ask you to provide us with information so we may better understand your disclosure. Please respond to these comments within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comments apply to your facts and circumstances, please tell us why in your response. After reviewing your response to these comments, we may have additional comments. Form 8-K Filed February 22, 2022 Exhibit 99.1 1. We note your presentation of Adjusted EBITDA excluding the Acne/AviClear Program costs. Please tell us how you determined that the Acne/AviClear Program costs are not normal operating costs and are consistent with Question 100.01 of the Non-GAAP Compliance and Disclosure Interpretations. As part of your response, provide us with an explanation of what these costs represent and where the costs are recognized in the Consolidated Statements of Operations. 2. We note your reference to several adjustments to arrive at non-GAAP financial measures as non-recurring, such as separation costs and legal and litigation costs. Please revise your disclosures to only characterize those adjustments that have not occurred in multiple periods and/or are not reasonably likely to recur within two years. Refer to Rule 100(b) of Rohan Seth CUTERA INC November 4, 2022 Page 2 Regulation G for guidance. 3. We note your presentation of non-GAAP Condensed Consolidated Statements of Operations for each period presented. Please remove this presentation and reconcile each non-GAAP measure used by management separately to the most comparable GAAP measure. Refer to Question 102.10 of the Non-GAAP Compliance and Disclosure Interpretations for guidance. 4. We note that your non-GAAP tax rate for fiscal year 2021 was only 8.8%, as compared to your GAAP tax rate for fiscal year 2021 was 39.1%. We further note that you recognized three-year cumulative non-GAAP net income versus three-year cumulate GAAP net loss. As such, please tell us how your non-GAAP tax rate is consistent with Question 102.11 of the Non-GAAP Compliance and Disclosure Interpretations, which states current and deferred income tax expense [should be] commensurate with the non-GAAP measure of profitability . 5. Please include a reconciliation of Adjusted EBITDA for all periods for which the amount is disclosed rather than the most recent period(s). Refer to Item 10(e)(1)(i)(b) of Regulation S-K for guidance. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Tracey Houser at 202-551-3736 or Jeanne Baker at 202-551-3691 with any questions. Sincerely, FirstName LastNameRohan Seth Division of Corporation Finance Comapany NameCUTERA INC Office of Industrial Applications and November 4, 2022 Page 2 Services FirstName LastName