and morning all Thank here. you, fourth earning to very our quarter We're XXXX Matt, and happy good to year-end welcome and be everyone, call.
earnings process. have this share today with update focused and of financial the call we strong a strategy execution our XXXX we first on since process, XXXX, you Our our Through operational lengthy restatement when are November started results. and remained pleased to very
today hard of the have and looks very work. Clearly, week ago, say least. very business, the team and on turning for I'm are thank world their the than very volatile to around a worked the proud the and We did different markets it them hard while entire
off our the in We our terms ball business. eyes taken of have not
local, these from are state Daily, operations. our government we evaluating instructions as federal authorities affect and
remotely. working already operations back-office are our or to of able All transition to
that cash doing can managing there and everything containment uncertainty continue impacted services varying and at we cost Our some distancing as but including country. flow individual operate as our We're across is partner accordingly. all social implementing strategies with are reflected of have business our to clinics our are the been levels field possible, to supporting as closures our and normal recognize
looking business our across the at and now growth, growth margins, me a key seen including take recurring have revenue board. XXXX. metrics, our and installed In at all we growth, it of base in look Let how revenue grew
result All refinancing of management. direct this change a in place laser-focused XXXX, and in of is in the strategy put after the we
devoted on quarters of executing our million included which been table. financing the last and financial up The turnarounds Board Strengthening $XX putting by strong our the a to in management a XXXX. company, and six cleaning have cap completing footing team company
the balance of We a XXXX come. we In a also annually clean initiatives have with lower of record over with when once capital steps, completed expenses. cap – margins, debt strong provided us get us in current our the our a $XXX,XXX providing us to storm alone, which and save in position to support growth renewed our a table which clinics put will for commercial partner weather business. and bank, provided years cost back sheet fundamental refinancing have our interest to These significantly solid to a
installed are acquisitions. we adding term, strategy, base Long our our pillars through focused of on direct-to-consumer strategically on expanding three growth and a executing
little each deeper these a areas. dive me into Let of
and results we approach investment First, program, or a leg effect certain so with late you gratified our is historical we year. again. many last may now in There this to our are success just to of of we activities, strategy, our success see DTC remember the direct-to-consumer advertising in seeing are made investments with the DTC this
new generating patients a XXXX, phone in impressive from approximately up over XXX% XX% compared our achievement Overall This patients our receiving X,XXX treatment new XX,XXX XX,XXX new to with XTRAC was XXXX. physician of with count in the internal patients patients in patient leads. receiving X,XXX XXXX, our In new in of XXXX, growth XX,XXX driven partners XX% leads by XXX,XXX number our was handling in increased adding patient patients system calls, to we treatments by teams XXXX.
of of to the KOLs Recently that pointed immunosuppressive as for COVID-XX. light risk pose disease the -- treatment out medications patients in disease of psoriasis such might
these in without the XTRAC campaign DTC safety in band to last systemic few out treating Our conditions risks. the evolved has UVB days narrow of imposing or point
pursuant our our psoriasis partners. use XTRAC's to tremendous of awareness expanding our the million the for to patients, million beyond count patients add interest pursuit psoriasis XX -- XTRAC to available which value market our just total creates of patient With helping facilitate a physician ability for Also all new benefits insurance to indication. indications, active was patient drive are X and of
dedicated our reimbursement in-house of benefits resulted psoriasis and work team XX% for patients. benefits has all The patients insurance of prospective in XX% approved approved for
treatment In We we doing for have receiving these XXXX. create the expanded of patients to as work, value XX% compared number as the will partners. we trends continue anticipate tangible non-psoriasis physician our by
the over focusing gross compared business QX revenue respectively. XXXX and recurring XXXX on resulted gross XX% in XX% in as year XX% over and in margin has for that XX% has a to XXXX our XXXX, margin proven of and in
of is truly hundreds device traditional lets individual customer The unique which model medical recurring concentration risk. the builds accounts and upon
We also to anticipate these trends continue.
base. Turning to our expanding of our installed second pillar growth,
improvement We also saw here.
and the our we into physician clinics year for XX devices net We with XXX placed XXX XX XXXX, accounts During domestic systems installed a base. in domestically, of removed add systems. underperforming ended new
$X,XXX removing increase per underperforming we XXXX. systems the device turning nearly to immediate sources. our revenue We our two from grew by sale to By to installed base accounts, same-store were QX our or in able quarterly
And second laser excimer of comebacks. in owners into group market share call clinics. increasing recurring which is current converting is large first the revenue we partners The
a already a where can have of base, they current XXX pool to which have to is XXX services For learned owners thrive clinics there lasers, offer. have STRATA our we the for is need of and technology, patient because these value-add use excimer are services, where a only
in XXXX to we XX achieved compared comebacks and as XX XXXX, In XXXX. in four
group large other is The larger sponsors. owned much financial growth in of source with clinics installed our by base
coupled sources During comes of in the through clinic these success XXXX, with the strategic up XXXX. -- from are our ago. the success point number presence of clinics establishing strategy increased agreements XXX will be from our in with growth these to clinics, the a we These expanding in XX and XTRAC focal This thereby their continue year our two clinic in expansion through now partners. with acquisitions, of expanding
sales, active we'll our of transitioning a announced the continued while dominance market similar over Internationally, XXXX in we years, Japan, Middle been recurring for which Korean our model July to start with in that East have into U.S. we the kept capital South revenue and China, XX we equipment in
first XX systems country. operation, in been of months the placed have six In
transition and margins. of our revenue long-term will short-term markets, strongly We but reduce disruptions will virus. ultimately the this the topline higher long-term in spread While provide capital growth are short-term caused the in sales, of by believe it our these markets seeing all of
third our to growth pillar Finally, strategy. acquisition of
from continue acquisitions to focus accretive which our complementary platform. offers We on will businesses. opportunities to unique add benefit STRATA
insurance salesforce, reimbursement an call in-house center; deep have an have including a and team. support amazing We capabilities motivated we
for opportunity these together be believe what potential we attractive create All partners. an to of
which support in In include $X.X we patient $XXX,XXX compared DTC continue compared to XXXX an our co-pay not was in invest million does growth XXXX. of in in support $X.X million to to in additional pillars, $XXX,XXX XXXX. This advertising
we we the anticipate at increasing As when sales appropriate supporting growth our market DTC and planned continuing our on -- expanding continued practical the forward, by spend team look domestic time.
components the to significant system our its improve continuing from This on all our also forward every market. took in and steps of in We're XTRAC competitors technological distancing products. we year
on comparison, FDA the This the device. by cleared the recently for our the which of XXX(k) XXXX received AL-XXXX example, on the third XTRAC platform. was our its we for For announced with market domestic XTRAC platform a XXXX. is competitor that XXX(k) predicated clearance only is Momentum and receipt By is in in the XXX(k) issued platform device the
peer-reviewed published other no over published XTRAC is using purposes. of XX Because study advanced excimer for laser competing technology there in of system, Domestically, studies of any the clinical clinical dermatology hundreds choice our past the is years.
coming to to our grateful are see we summary, strategy In fruition.
world know, revenue can know margins. improve our we and strategy at we revenue While the moment, the improve growth recurring is and uncertain
us to launch launch for -- markets. new opportunity sheet balance technology through have solid a We to a will our carry We're time. look expand every to fortunate and this new
be When double-digit see take domestic million sales February delayed and the the regions the our recurring recurring we We March orders second million growth have $X.X that range difficult of several quarter to be revenue we recover in will to non-U.S. growth. and changes sales at first The year-to-date seen at ranging final might quarter. it year-over-year on performance our from overall of revenue to through predict. million the have $X.X into regions including XXXX, will time with end million, to analyzed growth $X.X $X.X revenue trending
to like I over to Matt turn and quarter results. XXXX now of Hill Matt? call would a review for the fourth financial our
