Beginning on January 9, 2023, investors began to learn the truth. On that day, the Company announced its failure to meet revenue guidance for 2022. On February 28, 2023, Cutera disclosed its inability to timely file its annual financial report with the SEC and that it had identified material weaknesses in its internal control over financial reporting. On March 16, 2023, Cutera announced it would not meet the extended deadline to file its annual report. Then, on March 24, 2023, Cutera disclosed its non-compliance with Nasdaq Listing Rule 5250(c)(1). Beginning on April 7, 2023, the Company disclosed conflicts with Board members. Finally, on May 9, 2023, Cutera revealed disappointing financial results for the first quarter 2023 "due to execution challenges in the business." Each disclosure resulted in a decline in Cutera's stock price, which ultimately closed at $14.14 per share on May 11, 2023.