Cutera settles with Jabil for $19.5M; terminates ZO Skin Health Japan distribution

CUTERA INC

Settlement with Jabil: $19.5M payment (net $18.2M after $1.3M offset), covers $13.5M inventory, $0.3M equipment, $5.7M compensation.
ZO Skin Health termination: ZO to pay Cutera $5.75M upfront and up to $5.75M later (by June 14, 2024).
Distribution termination effective immediately; includes transfer of employees, customer contracts, and inventory to ZO.
ZO distribution agreement originally expired June 2024; early termination accelerates transition.

item 1.01 item 1.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CUTERA INC terminated Manufacturing Service Agreement with Jabil Inc..

Action: termination
Agreement: supply
Counterparty: Jabil Inc.

Exact text from the filing

In November 2023, Cutera, Inc. (the “Company”) communicated its intention not to renew its existing manufacturing service agreement (the “Manufacturing Service Agreement”) with Jabil Inc.

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CUTERA INC entered into Business Transfer and Termination Agreement with ZO Skin Health, Inc. and its affiliates valued at $5.75 million (effective 2024-02-28).

Action: entry
Counterparty: ZO Skin Health, Inc. and its affiliates
Value: $5.75 million
Effective: 2024-02-28

Exact text from the filing

On February 28, 2024, the Company and its Japanese subsidiary, Cutera KK, entered into a Business Transfer and Termination Agreement (the “Termination Agreement”) with ZO and its Japanese subsidiary, ZO Skin Health GK

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CUTERA INC entered into Settlement Agreement with Jabil Inc. valued at $19.5 million (effective 2024-02-28).

Action: entry
Agreement: settlement
Counterparty: Jabil Inc.
Value: $19.5 million
Effective: 2024-02-28

Exact text from the filing

On February 28, 2024, the Company and Jabil entered into a settlement agreement related to the non-renewal of the Manufacturing Service Agreement (the “Settlement Agreement”).

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737 material agreements filed in the last 30 days. Browse all material agreements →

Source: SEC EDGAR

accession 0001628280-24-008901

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