Ra Medical Systems, Inc. (RMED) Bundle
A Brief History of Ra Medical Systems, Inc. (RMED)
Company Overview
Ra Medical Systems, Inc. is a medical device company that specializes in laser-based systems for the treatment of dermatological conditions and vascular diseases. Founded in 2008, headquartered in Carlsbad, California, the company focuses on innovative solutions to enhance patient care.
Key Products
- Pharos Excimer Laser System
- Klarity Laser System
Financial Data
| Year | Revenue ($ millions) | Net Income ($ millions) | Total Assets ($ millions) | Market Capitalization ($ millions) |
|---|---|---|---|---|
| 2019 | 5.6 | -18.5 | 15.4 | 45.8 |
| 2020 | 6.8 | -21.1 | 16.5 | 34.5 |
| 2021 | 7.0 | -24.7 | 17.6 | 12.5 |
| 2022 | 8.1 | -16.2 | 20.3 | 30.1 |
| 2023 | 9.0 | -8.9 | 22.5 | 35.0 |
Regulatory Milestones
The company received U.S. Food and Drug Administration (FDA) clearance for its Pharos system in 2018, enabling it to market the device for multiple skin conditions, including psoriasis and atopic dermatitis.
Recent Developments
- In 2021, Ra Medical Systems launched its Klarity laser system, aimed at enhancing treatment options for dermatologists.
- In May 2022, the company announced a strategic partnership to expand its distribution channels.
Market Presence
Ra Medical operates primarily in North America, with a growing presence in Europe and Asia. The market for laser dermatology devices is projected to reach $2.5 billion by 2027, growing at a CAGR of 5.8% from 2020 to 2027.
Stock Performance
| Date | Stock Price ($) | Change (%) |
|---|---|---|
| January 2023 | 1.10 | +5.0 |
| April 2023 | 1.25 | +13.6 |
| July 2023 | 1.40 | +12.0 |
| October 2023 | 1.50 | +7.1 |
Challenges
The company has faced challenges such as increasing competition, regulatory hurdles, and financial losses. The net loss for the year ended December 31, 2022, was approximately $16.2 million, indicating ongoing operational challenges.
Future Outlook
Ra Medical Systems aims to leverage its innovative technology to penetrate new markets and improve product offerings. The company has outlined a plan to enhance its R&D investments by 20% over the next fiscal year.
A Who Owns Ra Medical Systems, Inc. (RMED)
Current Ownership Structure
Current Ownership Structure
As of the latest available data, the ownership of Ra Medical Systems, Inc. (RMED) is characterized by a combination of institutional and individual shareholders. The following table illustrates the ownership breakdown:
| Owner Type | Percentage Ownership | Number of Shares |
|---|---|---|
| Institutional Investors | 45.3% | 2,197,000 |
| Insiders | 16.8% | 815,000 |
| Retail Investors | 37.9% | 1,827,000 |
Major Shareholders
Significant shareholders play a crucial role in influencing company policy and direction. The table below lists the major shareholders of Ra Medical Systems, Inc. along with their respective ownership stakes:
| Shareholder | Ownership Percentage | Number of Shares Owned |
|---|---|---|
| The Vanguard Group, Inc. | 10.5% | 510,000 |
| BlackRock, Inc. | 8.7% | 420,000 |
| David S. C. Yang | 5.6% | 270,000 |
| Saul M. Lichtenstein | 4.8% | 230,000 |
| Dimensional Fund Advisors LP | 3.5% | 170,000 |
Insider Ownership
Insider ownership is significant for Ra Medical Systems, indicating confidence from management in the company's future. The following table summarizes insider ownership:
| Name | Position | Shares Owned |
|---|---|---|
| Jonathan B. Moyer | CEO | 300,000 |
| Kimberly A. Vulgamore | CFO | 150,000 |
| Michael A. Vargo | Director | 90,000 |
| Lisa A. Kieffer | Director | 75,000 |
Investment Trends
Investment trends in Ra Medical Systems reflect broader market dynamics and sentiment. The company's stock performance has attracted attention, leading to fluctuations in ownership stakes. Below is a summary of investment trends over the last year:
| Quarter | Institutional Ownership Change (%) | Share Price Range ($) |
|---|---|---|
| Q1 2023 | +2.1% | 3.20 - 4.00 |
| Q2 2023 | -1.5% | 2.50 - 3.80 |
| Q3 2023 | +4.4% | 3.10 - 4.20 |
Summary of Financial Performance
Ra Medical Systems' financial performance has influenced ownership dynamics including market capitalization and revenue trends. The following table illustrates key financial metrics:
| Metric | Value (2023) |
|---|---|
| Market Capitalization | $12 million |
| Annual Revenue | $5.2 million |
| Net Income | -$3.1 million |
| Cash Reserves | $1.5 million |
Ra Medical Systems, Inc. (RMED) Mission Statement
Ra Medical Systems, Inc. is committed to providing innovative therapeutic solutions for treating skin diseases and vascular conditions. Their mission emphasizes a national and global impact, focusing on enhancing and improving patient outcomes through advanced technology.
Core Values
- Innovation: Continuous development of cutting-edge products.
- Integrity: Upholding ethical standards in all business practices.
- Excellence: Striving for the highest quality in product manufacturing and service delivery.
- Patient-Centric Approach: Prioritizing patient needs and experiences.
Market Overview
As of the end of 2022, the global dermatology market was valued at approximately $20 billion and is projected to reach $25 billion by 2027, indicating a compound annual growth rate (CAGR) of about 6.1%.
Financial Performance
In the fiscal year 2022, Ra Medical Systems reported revenues of $5.4 million, a decrease from $7.1 million in 2021. Operating expenses were approximately $15.7 million, leading to a net loss of $10.3 million for the year.
| Year | Revenue (in millions) | Operating Expenses (in millions) | Net Loss (in millions) |
|---|---|---|---|
| 2022 | 5.4 | 15.7 | (10.3) |
| 2021 | 7.1 | 14.5 | (7.4) |
| 2020 | 4.9 | 13.2 | (8.3) |
Product Portfolio
Ra Medical Systems offers a range of products focused on laser-based treatments. Their flagship products include:
- Dabrafenib: Used for the treatment of melanoma.
- Eximer Laser System: Designed for treating psoriasis and eczema.
- Vascular Laser Systems: Targeting vascular lesions and pigmentation issues.
Research and Development
The company allocated approximately $2.1 million in 2022 towards R&D, highlighting their dedication to improving existing technologies and developing new therapeutic solutions.
Employee Engagement
As of 2022, Ra Medical Systems had around 70 employees, with a focus on creating a collaborative and innovative work environment.
Future Growth Projections
Looking forward, the company anticipates a strategic focus on expanding their market share in North America and Europe, with targets set for increasing revenue by 10% annually through 2025.
| Year | Projected Revenue Growth (%) | Market Expansion Areas |
|---|---|---|
| 2023 | 10 | North America, Europe |
| 2024 | 12 | Asia-Pacific |
| 2025 | 15 | Latin America, Middle East |
How Ra Medical Systems, Inc. (RMED) Works
Company Overview
Ra Medical Systems, Inc. (RMED) is a publicly traded medical device company that specializes in designing and developing products for dermatological and vascular conditions. The company's primary product lines include the DABRA (Destruction of Arteries by Balloon and Laser Ablation) system and the PsoEasy system for psoriasis treatment.
Financial Performance
As of the end of Q2 2023, RMED reported the following financial metrics:
| Metric | Value |
|---|---|
| Revenue (Q2 2023) | $1.8 million |
| Net Loss (Q2 2023) | $(2.5) million |
| Total Assets (Q2 2023) | $6.2 million |
| Total Liabilities (Q2 2023) | $3.5 million |
| Cash and Cash Equivalents (Q2 2023) | $4.1 million |
Product Offerings
- DABRA System
- PsoEasy System
The DABRA system utilizes a unique laser technology to treat vascular lesions, while the PsoEasy system is designed for the treatment of psoriasis using a combination of light therapies.
Market Strategy
RMED focuses on expanding its market presence through:
- Strategic partnerships with healthcare providers
- Participation in medical conferences and trade shows
- Investment in research and development for new technologies
Regulatory Compliance
As a medical device manufacturer, Ra Medical Systems must adhere to strict regulations from the FDA. The company has received 510(k) clearances for its DABRA system, ensuring it meets safety and efficacy standards.
Recent Developments
In March 2023, RMED announced a distribution agreement with a key medical equipment supplier, expected to enhance its product reach across the United States. The deal is projected to increase sales by 20% over the next fiscal year.
Stock Performance
RMED's stock has experienced fluctuations. As of October 2023, the stock price was approximately $2.10, down from a peak of $5.25 in January 2023.
Investment Opportunities
Investors are closely monitoring RMED due to its potential growth in the dermatological market, which is estimated to reach $50 billion by 2025. Key factors influencing investment include:
- Innovative treatment options
- Expanding clinical trial results
- Positive regulatory feedback
Conclusion
The operational framework of Ra Medical Systems, Inc. encompasses innovative products, strategic market positioning, and adherence to regulatory standards. The financial metrics reflect the company's growth trajectory and market initiatives.
How Ra Medical Systems, Inc. (RMED) Makes Money
Medical Device Sales
Ra Medical Systems generates revenue primarily through the sale of its medical devices. The company specializes in the development and commercialization of excimer lasers aimed at treating dermatological conditions. In 2020, RMED reported a total revenue of approximately $4.3 million, with sales significantly impacted by the COVID-19 pandemic.
| Year | Total Revenue ($ million) | Device Revenue ($ million) | Percentage Growth (%) |
|---|---|---|---|
| 2018 | 3.1 | 2.5 | N/A |
| 2019 | 3.9 | 3.2 | 25.8 |
| 2020 | 4.3 | 3.5 | 8.8 |
| 2021 | 5.8 | 4.5 | 34.9 |
Revenue from Licensing Agreements
Ra Medical Systems also earns revenue through licensing agreements. The company has partnered with various entities to expand its market reach. In 2021, RMED reported around $1.2 million from licensing agreements.
Service and Maintenance Contracts
A significant component of RMED's revenue comes from service and maintenance contracts associated with its medical devices. These contracts generate ongoing revenue streams, helping to ensure repeat business. In 2020, service-related income was approximately $800,000.
| Year | Service Revenue ($ million) | Percentage of Total Revenue (%) |
|---|---|---|
| 2018 | 0.6 | 19.4 |
| 2019 | 0.8 | 20.5 |
| 2020 | 0.8 | 18.6 |
| 2021 | 1.0 | 17.2 |
Research and Development (R&D) Investments
Investment in R&D is vital for RMED to innovate and develop new products. In 2021, the company invested over $6 million in R&D activities, paving the way for future revenue streams through new product launches.
Financial Performance and Market Position
Ra Medical Systems reported a net loss of approximately $10.8 million in 2020, reflecting challenges in the market. However, the company has strategically positioned itself to rebound, with a market capitalization of around $54 million as of October 2021.
| Year | Net Income ($ million) | Market Capitalization ($ million) |
|---|---|---|
| 2019 | -9.2 | 30 |
| 2020 | -10.8 | 54 |
| 2021 | -5.5 | 80 |
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