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December 2, 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
Response Letter
Dated November 29, 2022
File No. 000-50644
Dear Rohan Seth:
We have reviewed your November 29, 2022 response to our comment
letter and have the
following comment. In our comment, we may ask you to provide us with
information so we may
better understand your disclosure.
Please respond to this comment 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
comment applies to your facts and circumstances, please tell us why in
your response.
After reviewing your response to this comment, we may have
additional
comments. Unless we note otherwise, our references to prior comments are
to comments in our
November 4, 2022 letter.
Form 8-K Filed February 22, 2022
Exhibit 99.1
1. We note your response
to comment 4. While we understand that for US GAAP purposes
and for actual tax
purposes, you may not have paid any US income taxes, the amount of
income taxes to be
recognized when presenting an after tax non-GAAP performance
measure would be based
on the facts and circumstances using non-GAAP performance
information and
calculations. As such, it remains unclear how your non-GAAP net
income for the quarter
and fiscal year ended December 31, 2021 complies with Question
102.11 of the Non-GAAP
Compliance and Disclosure Interpretations. Please provide us
with a more
comprehensive explanation of your consideration of the facts and
Rohan Seth
CUTERA INC
December 2, 2022
Page 2
circumstances for your US operation s need to continue to recognize
a full valuation
allowance for the periods presented in your December 31, 2021 earnings
press release or
revise your presentation to include the appropriate tax adjustment for
the fiscal year 2021
periods presented. Further, footnote disclosure should be provided for
each period
presented to clearly explain how the amount of the income tax expense
adjustment
recognized was calculated and/or the specific facts and circumstances
on a non-GAAP
basis that led you to conclude no adjustment to income taxes was
required.
You may contact Tracey Houser at 202-551-3736 or Jeanne Baker at
202-551-3691, if
you have questions regarding comments on the financial statements and related
matters.
Sincerely,
FirstName LastNameRohan Seth
Division of
Corporation Finance
Comapany NameCUTERA INC
Office of
Industrial Applications and
December 2, 2022 Page 2 Services
FirstName LastName