Venus Concept Announces Second Quarter 2025 Financial Results

Core Insights - Venus Concept Inc. reported financial results for Q2 2025, showing a total revenue of $15.7 million, which is a 5% decrease year-over-year but a 15% increase quarter-over-quarter [5][6] - The company experienced a 20% growth in total systems and subscription sales quarter-over-quarter, with U.S. revenue increasing by 5% year-over-year [3][5] - The company is focusing on cash burn management and strategic initiatives to enhance long-term growth, including the sale of its Venus Hair business for $20 million [3][5] Financial Performance - Total revenue for Q2 2025 was $15.7 million, down from $16.6 million in Q2 2024, with U.S. revenue increasing by $0.4 million to $9.7 million [5][6] - Gross profit decreased by 20% to $9.4 million, with a gross margin of 60.1%, down from 71.5% in the prior year [8] - Operating expenses rose by 6% to $18.5 million, driven by increases in general and administrative and selling and marketing expenses [9] Losses and Adjusted EBITDA - The net loss for Q2 2025 was $11.7 million, or $8.03 per share, compared to a net loss of $20.0 million, or $30.93 per share, in Q2 2024 [11] - Adjusted EBITDA loss for Q2 2025 was $8.8 million, worsening from a loss of $4.1 million in the same quarter last year [11][28] Cash Position and Debt - As of June 30, 2025, the company had cash and cash equivalents of $4.9 million and total debt obligations of approximately $34.3 million, down from $39.7 million at the end of 2024 [12] - The company has made efforts to enhance its balance sheet through various financing transactions, including raising $3.9 million in gross proceeds from equity capital transactions [3][12] Strategic Initiatives - The company announced a definitive agreement to sell its Venus Hair business for $20 million, aiming to focus on its core medical aesthetics business [3][5] - Management emphasized the importance of disciplined cost management and targeted investments to support long-term growth [3]