Cutera (CUTR) 8-K/A Revised Second Quarter 2023 Non-GAAP Financial Measures

Exhibit 99.1

Revised Second Quarter 2023 Non-GAAP Financial Measures

Cutera, Inc. (Nasdaq: CUTR) (“Cutera” or the “Company”) hereby provides an update of its Non-GAAP financial measures for the second quarter ended June 30, 2023.

CUTERA, INC. 

RECONCILIATION OF GAAP GROSS PROFIT, GROSS MARGIN AND OPERATING INCOME
TO NON-GAAP GROSS PROFIT, GROSS MARGIN AND OPERATING INCOME

(in thousands, except percentages)

(unaudited) 

	Three Months Ended June 30, 2023
	Gross Profit		Gross Margin		Operating Income
Reported	$	26,083	42.2	%	$	(31,163)
Adjustments:
Depreciation and amortization including contract acquisition costs	1,998		3.2	%	3,991
Stock-based compensation	361		0.6	%	1,550
ERP implementation costs	—		—		770
Legal	—		—		394
Severance	—		—	%	234
Retention plan costs	65		0.1	%	2,972
Board of Director legal and advisory fees	—		—		7,709
Other adjustments	307		0.5	%	307
Total adjustments	2,731		4.4	%	17,927
Adjusted	$	28,814	46.6	%	$	(13,236)

	Three Months Ended June 30, 2022
	Gross Profit		Gross Margin		Operating Income
Reported	$	35,044	54.6	%	$	(10,064)
Adjustments:
Depreciation and amortization including contract acquisition costs	161		0.3	%	1,068
Stock-based compensation	500		0.8	%	4,733
ERP implementation costs	—		—		2,385
Legal	—		—		242
Total adjustments	661		1.1	%	8,428
Adjusted	$	35,705	55.7	%	$	(1,636)

CUTERA, INC. 

RECONCILIATION OF GAAP GROSS PROFIT, GROSS MARGIN AND OPERATING INCOME
TO NON-GAAP GROSS PROFIT, GROSS MARGIN AND OPERATING INCOME

(in thousands, except percentages)

(unaudited) 

	Six Months Ended June 30, 2023
	Gross Profit		Gross Margin		Operating Income
Reported	$	47,715	41.0	%	$	(57,764)
Adjustments:
Depreciation and amortization including contract acquisition costs	3,597		3.1	%	7,578
Stock-based compensation	725		0.6	%	4,936
ERP implementation costs	—		—		1,288
Legal	—		—		1,046
Severance	119		0.1	%	549
Retention plan costs	65		0.1	%	2,972
Board of Director legal and advisory fees	—		—		7,709
Other adjustments	307		0.3	%	892
Total adjustments	4,813		4.2	%	26,970
Adjusted	$	52,528	45.2	%	$	(30,794)

	Six Months Ended June 30, 2022
	Gross Profit		Gross Margin		Operating Income
Reported	$	66,832	54.7	%	$	(23,221)
Adjustments:
Depreciation and amortization including contract acquisition costs	237		0.2	%	2,147
Stock-based compensation	959		0.8	%	8,776
ERP implementation costs	—		—		6,361
Legal	—		—		496
Total adjustments	1,196		1.0	%	17,780
Adjusted	$	68,028	55.7	%	$	(5,441)