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Revenue in the first quarter of 2023 was $7.6, compared to $7.0 million for the first quarter of 2022

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Officially launched TheraClear®X device in January 2023

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58 TheraClear devices in the U.S. as of March 31, 2023

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Sold over 3,000 TheraClear treatments in the first quarter

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Signed exclusive distribution agreement with Spectra Medical Pvt Ltd. for India

		For the Three Months Ended March 31,
		2023				2022
Net loss		$	(2,835	)		$	(2,502	)
Adjustments:
Depreciation and amortization			1,397				1,321
Amortization of operating lease right-of-use asset			105				89
Loss on disposal of property and equipment			—				17
Interest expense, net			249				199
Non-GAAP EBITDA			(1,084	)			(876	)
Stock-based compensation expense			325				368
Non-GAAP adjusted EBITDA		$	(759	)		$	(508	)

		Three Months Ended March 31,
		2023				2022
Gross domestic recurring billings		$	4,735			$	4,999
Co-Pay adjustments			(83	)			(170	)
Other discounts			(28	)			(37	)
Deferred revenue from prior quarters			2,170				1,867
Deferral of revenue to future quarters			(2,025	)			(1,970	)
GAAP Recorded domestic revenue		$	4,769			$	4,689

		March 31, 2023				December 31, 2022
		(unaudited)
Assets
Current assets:
Cash and cash equivalents		$	2,825			$	5,434
Restricted cash			1,361				1,361
Accounts receivable, net of allowance for doubtful accounts of $242 and $382 at March 31, 2023 and December 31, 2022, respectively			3,940				4,471
Inventories			5,695				5,547
Prepaid expenses and other current assets			691				691
Total current assets			14,512				17,504
Property and equipment, net			8,182				7,498
Operating lease right-of-use assets			870				975
Intangible assets, net			16,674				17,394
Goodwill			8,803				8,803
Other assets			82				98
Total assets		$	49,123			$	52,272
Liabilities and Stockholders’ Equity
Current liabilities:
Accounts payable		$	3,099			$	3,425
Accrued expenses and other current liabilities			6,549				6,555
Deferred revenues			2,548				2,778
Current portion of operating lease liabilities			381				355
Current portion of contingent consideration			481				313
Total current liabilities			13,058				13,426
Long-term debt, net			7,517				7,476
Deferred revenues and other liabilities			305				314
Deferred tax liability			306				306
Operating lease liabilities, net of current portion			489				610
Contingent consideration, net of current portion			8,127				8,309
Total liabilities			29,802				30,441
Stockholders’ equity:
Series C convertible preferred stock, $0.10 par value; 10,000,000 shares authorized; no shares issued and outstanding			—				—
Common stock, $0.001 par value; 150,000,000 shares authorized; 34,881,453 and 34,723,046 shares issued and outstanding at March 31, 2023 and December 31, 2022, respectively			35				35
Additional paid-in capital			249,349				249,024
Accumulated deficit			(230,063	)			(227,228	)
Total stockholders’ equity			19,321				21, 831
Total liabilities and stockholders’ equity		$	49,123			$	52,272

		Three Months Ended March 31,
		2023				2022
Revenues, net		$	7,567			$	7,041
Cost of revenues			3,179				2,913
Gross profit			4,388				4,128
Operating expenses:
Engineering and product development			315				163
Selling and marketing			3,742				3,616
General and administrative			2,917				2,652
			6,974				6,431
Loss from operations			(2,586	)			(2,303	)
Other (expense) income:
Interest expense			(286	)			(199	)
Interest income			37				—
			(249	)			(199	)
Net loss		$	(2,835	)		$	(2,502	)
Net loss per share of common stock, basic and diluted		$	(0.08	)		$	(0.07	)
Weighted average shares of common stock outstanding, basic and diluted			34,862,092				34,679,246

		For the Three Months Ended March 31,
		2023				2022
Cash flows from operating activities:
Net loss		$	(2,835	)		$	(2,502	)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization			1,397				1,321
Amortization of operating lease right-of-use assets			105				89
Amortization of deferred financing costs and debt discount			41				37
(Recoveries of) provision for doubtful accounts			(95	)			13
Stock-based compensation expense			325				368
Loss on disposal of property and equipment			—				17
Changes in operating assets and liabilities:
Accounts receivable			626				448
Inventories			(103	)			(1,198	)
Prepaid expenses and other assets			16				85
Accounts payable			(326	)			1,148
Accrued expenses and other liabilities			(12	)			175
Deferred revenues			(247	)			(257	)
Operating lease liabilities			(95	)			(97	)
Net cash used in operating activities			(1,203	)			(353	)
Cash flows from investing activities:
Purchase of property and equipment			(1,406	)			(679	)
Cash paid in connection with TheraClear asset acquisition			—				(631	)
Net cash used in investing activities			(1,406	)			(1,310	)
Net decrease in cash, cash equivalents and restricted cash			(2,609	)			(1,663	)
Cash, cash equivalents and restricted cash, beginning of period			6,795				12,586
Cash, cash equivalents and restricted cash, end of period		$	4,186			$	10,923
Cash and cash equivalents		$	2,825			$	10,923
Restricted cash			1,361				—
		$	4,186			$	10,923
Supplemental disclosure of cash flow information:
Cash paid for interest		$	241			$	160
Supplemental disclosure of non-cash operating, investing and financing activities:
Inventories acquired in connection with TheraClear asset acquisition		$	—			$	71
Intangible assets acquired in connection with TheraClear asset acquisition		$	—			$	10,182
Contingent consideration issued in connection with TheraClear asset acquisition		$	—			$	9,122
Common stock issued in connection with TheraClear asset acquisition		$	—			$	500
Transfer of property and equipment to inventories		$	45			$	—
Accrued payment of contingent consideration		$	14			$	—