DebtCUTR ended 2Q24 with $83.1M in cash and $419.8M in debt, and it is expected to burn an average of $19.1M per quarter through 2024, likely requiring additional capital by 3Q25.
Macroeconomic HeadwindsThe company faces significant headwinds from a tight credit environment and weakening consumer discretionary spending across the economy.
Revenue GuidanceCUTR lowered 2024 revenue guidance to $140M-$145M, from $160M-$170M, down 31.7%-34.1% year-over-year, and below prior expectations.