Cutera Inc (CUTR) just unveiled an update.
Cutera, Inc. has settled with Jabil Inc. for $19.5 million, regarding the non-renewal of their manufacturing agreement, while managing to offset $1.3 million owed by Jabil. Additionally, Cutera has concluded a $11.5 million deal with ZO Skin Health to terminate their exclusive distribution arrangement in Japan, facilitating a handover of the distribution to ZO, including the transfer of certain employees, customer contracts, and inventory. These strategic moves, involving significant financial decisions, mark a new direction for Cutera’s operational relationships and market presence.
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