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Venus cept (VERO) - 2024 Q1 - Quarterly Results
2024-05-15 11:05
Exhibit 99.1 Venus Concept Announces First Quarter of Fiscal Year 2024 Financial Results TORONTO, May 15, 2024 (GLOBE NEWSWIRE) – Venus Concept Inc. ("Venus Concept" or the "Company") (NASDAQ: VERO), a global medical aesthetic technology leader, announced financial results for the three months ended March 31, 2024. First Quarter 2024 Summary & Recent Progress: Management Commentary: "First quarter revenue results exceeded the expectations we outlined on our fourth quarter report," said Rajiv De Silva, Chief ...
Venus cept (VERO) - 2023 Q4 - Earnings Call Transcript
2024-04-01 14:28
Venus Concept Inc. (NASDAQ:VERO) Q4 2023 Earnings Conference Call April 1, 2024 8:00 AM ET Company Participants Rajiv De Silva - Chief Executive Officer Hemanth Varghese - President and Chief Operating Officer Domenic Della Penna - Executive Vice President and Chief Financial Officer Conference Call Participants Marie Thibault - BTIG Jeffrey Cohen - Ladenburg Thalmann Operator Good day, ladies and gentlemen, and welcome to the Fourth Quarter 2023 Earnings Conference Call for Venus Concept Inc. At this time, ...
Venus cept (VERO) - 2023 Q4 - Annual Report
2024-04-01 11:19
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-38238 Venus Concept Inc. (Exact name of Registrant as specified in its Charter) Delaware 06-1681204 (State or other ...
Venus cept (VERO) - 2023 Q4 - Annual Results
2024-04-01 11:10
Revenue Performance - Total revenue for Q4 2023 was $18.1 million, a decrease of $6.2 million, or 25%, year-over-year[4] - Total revenue for fiscal year 2023 decreased by $23.1 million, or 23.3%, to $76.4 million from $99.5 million in fiscal year 2022[11] - Total revenue for the year ended December 31, 2023, was $76,354,000, a decrease of 23.2% compared to $99,497,000 in 2022[22] - The company expects total revenue for Q1 2024 to be at least $16.5 million[13] Operating Expenses - Operating expenses for Q4 2023 decreased by $5.0 million, or 20%, to $19.7 million compared to Q4 2022[8] - Operating expenses for the year were $80,476,000, a decrease of 20.2% from $100,847,000 in 2022[22] - The company achieved a 20% reduction in operating expenses as part of its strategic turnaround plan[3] Net Loss - GAAP net loss attributable to stockholders for Q4 2023 was $11.1 million, an increase of $1.2 million, or 12%, year-over-year[4] - Net loss for the year ended December 31, 2023, was $37,050,000, compared to a net loss of $43,584,000 in 2022, representing a 15% improvement[24] - The net loss for the twelve months ended December 31, 2023, was $(37,050) thousand, an improvement from $(43,584) thousand in the previous year[28] Cash Flow and Liquidity - Cash used in operations for fiscal year 2023 was $12.9 million, down 52% year-over-year from $27.0 million[4] - Cash and cash equivalents as of December 31, 2023, were $5.4 million, down from $11.6 million a year earlier[10] - Cash and cash equivalents decreased to $5,396,000 as of December 31, 2023, down from $11,569,000 in 2022, indicating a cash burn reduction[20] Subscription Revenue - Subscription revenue for systems in Q4 2023 was $6.1 million, representing 33.4% of total revenue, up from 23.8% in Q4 2022[6] - The percentage of total systems revenue derived from the subscription model was approximately 29% for the fiscal year 2023, down from 42% in the prior year[11] Assets and Liabilities - Total current assets decreased by 20.9% to $66,446,000 in 2023 from $84,008,000 in 2022[20] - Total liabilities decreased to $107,103,000 in 2023, down from $116,640,000 in 2022, reflecting a 8.2% reduction[20] Profitability Metrics - The company reported a gross profit of $52,167,000 for the year ended December 31, 2023, down from $65,971,000 in 2022, a decline of 20.9%[22] - Adjusted EBITDA for Q4 2023 was $(5,926) thousand, compared to $(6,347) thousand in Q4 2022, indicating a slight improvement year-over-year[28] Other Financial Metrics - Finance expenses increased to $6,893 thousand for the twelve months ended December 31, 2023, compared to $4,561 thousand in 2022[28] - The company recognized a loss on debt extinguishment of $2,040 thousand for the twelve months ended December 31, 2023, with no such loss reported in 2022[28] - Stock-based compensation expense for the twelve months ended December 31, 2023, was $1,569 thousand, down from $2,104 thousand in 2022[28] Strategic Focus - The company anticipates continued focus on restructuring and strategic alternatives to maximize shareholder value moving forward[21]
Venus cept (VERO) - 2023 Q3 - Earnings Call Transcript
2023-11-14 23:57
Venus Concept Inc. (NASDAQ:VERO) Q3 2023 Earnings Conference Call November 14, 2023 5:00 PM ET Company Participants Rajiv De Silva - Chief Executive Officer Hemanth Varghese - President & Chief Operating Officer Domenic Della Penna - Chief Financial Officer Conference Call Participants Jeff Cohen - Ladenburg Thalmann Sam Eiber - BTIG Operator Please standby. Good day, ladies and gentlemen. Welcome to the Third Quarter 2023 Earnings Conference Call for Venus Concept Inc. At this time, all participants have b ...
Venus cept (VERO) - 2023 Q3 - Quarterly Report
2023-11-14 21:17
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-38238 Venus Concept Inc. (Exact Name of Registrant as Specified in its Charter) WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ( ...
Venus cept (VERO) - 2023 Q2 - Earnings Call Transcript
2023-08-15 02:44
Venus Concept Inc. (NASDAQ:VERO) Q2 2023 Earnings Conference Call August 14, 2023 5:00 PM ET Company Participants Rajiv De Silva – Chief Executive Officer Hemanth Varghese – President and Chief Innovation and Business Officer Domenic Della Penna – Chief Financial Officer Conference Call Participants Jeff Cohen – Ladenburg Thalmann Marie Thibault – BTIG Anthony Vendetti – Maxim Group Operator Good day, ladies and gentlemen. Welcome to the Second Quarter 2023 Earnings Conference Call for Venus Concept. At thi ...
Venus cept (VERO) - 2023 Q2 - Quarterly Report
2023-08-14 20:16
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-38238 Venus Concept Inc. (Exact Name of Registrant as Specified in its Charter) (State ...
Venus cept (VERO) - 2023 Q1 - Earnings Call Transcript
2023-05-15 14:07
Venus Concept Inc. (NASDAQ:VERO) Q1 2023 Earnings Conference Call May 15, 2023 8:00 AM ET Company Participants Rajiv De Silva - CEO Hemanth Varghese - President & Chief Innovation and Business Officer Domenic Della Penna - CFO Conference Call Participants Destiny Hance - Ladenburg Thalmann Operator Good day, ladies and gentlemen, and welcome to the First Quarter 2023 Earnings Conference Call for Venus Concept Inc. At this time, all participants have been placed in a listen-only mode. Please note that this c ...
Venus cept (VERO) - 2023 Q1 - Quarterly Report
2023-05-15 11:16
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, DC 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ____________ to ____________ Commission File Number: 001-38238 Venus Concept Inc. (Exact Name of Registrant as Specified in its Charter) (Stat ...