ZELTIQ Aesthetics (NASDAQ:ZLTQ) is a medical device company which developed and sells a fat reduction device called CoolSculpting. The system selectively cools regions of fat to increase their rate of elimination by the body. The procedure is targeted for individuals with relatively small fat bulges rather than for obese individuals. This is because the technology is typically ineffective on obese individuals who require significant decreases in their body fat. Zeltiq makes money by selling the systems to physicians as well as charging procedure fees for each treatment performed.
Zeltiq's total revenue for the full year 2010 was $25.5M. This compares to a total revenue of $1.6M in 2009. However, the company reported a net loss of 2010 of $13.5M. This is an improvement over the net loss of $17.6M in 2009. While Zeltiq has historically had a large research and development expense, this costs was surpassed by sales and marketing in 2010. 
The company's initial public offering of stock on the NASDAQ occurred on October 18, 2011. The company offered 7M shares each for $13. This was below the $14-$16 price range. The company raised $91M through the deal. The lead managers of the deal were JP Morgan and Goldman.
Because Zeltiq's devices aim to help individuals with relatively small fat bulges, the demand for their product is largely an additional luxury good. Unlike procedures aimed at obese individuals, the use of CoolSculpting does not prevent or solve an immediate health risk. As a result, demand for such a service will rest on individuals who are willing and able to pay for cosmetic improvements. By contrast, since the procedure is noninvasive and treats fat bulges, the potential demand for the product is likely quite large.