Welcome to our dedicated page for Venus Concept news (Ticker: VERO), a resource for investors and traders seeking the latest updates and insights on Venus Concept stock.
Venus Concept Inc. (NASDAQ: VERO) is a pioneering leader in the global medical aesthetic market, offering advanced, minimally invasive, and non-invasive aesthetic and hair restoration technologies. The company stands out with its industry-first subscription model, designed to assist both emerging and established practices in achieving success in the competitive field of aesthetics.
Venus Concept's innovative business model provides aesthetic professionals with unparalleled benefits. These include the most comprehensive warranty program, robust marketing support, continuous clinical education, and valuable practice enhancement programs. This unique approach enables practitioners worldwide to leverage cutting-edge technologies and business solutions to elevate their services and improve the quality of life for their clients.
The company's product portfolio includes a range of advanced aesthetic systems such as Venus Versa™, Venus Legacy™, Venus Velocity™, Venus Viva™, Venus Freeze Plus™, and Venus Skin™. Additionally, Venus Concept provides innovative hair restoration systems like NeoGraft® and the ARTAS iX® Robotic Hair Restoration system. These products address various medical aesthetic needs, including skin rejuvenation, body contouring, hair restoration, and cellulite reduction.
Headquartered in Toronto, Venus Concept operates in over 60 countries and maintains a direct presence in 12 markets, ensuring a global reach and local expertise. The company's latest advancements include the Venus Bliss MAX, a multifunctional platform offering diode laser applicators, Multi-Polar Radio Frequency, and Pulsed Electromagnetic Fields, all designed to treat a variety of aesthetic concerns.
Financially, Venus Concept continues to navigate its growth trajectory with strategic partnerships and investments. The company recently underwent significant debt restructuring, supported by Madryn Asset Management, which aims to enhance its financial stability and compliance with NASDAQ listing requirements. This support underscores a commitment to achieving sustainable profitability and operational efficiency.
Venus Concept's growth is also marked by its continuous expansion into new markets, such as Australia and Israel, where its products like the Venus Versa Pro and Venus Bliss MAX have been well received. These expansions are part of the company's broader strategy to extend its technological innovations to a global clientele, offering practitioners the tools they need to deliver exceptional aesthetic treatments.
Venus Concept, a leader in medical aesthetic technology (NASDAQ: VERO), will present at two upcoming investor conferences in January. The H.C. Wainwright BioConnect Conference will be held virtually from January 11-14, with on-demand presentations available starting January 11 at 6:00 a.m. Eastern Time. Additionally, management will participate in a fireside chat at the ICR Conference 2021 on January 14 at 10:00 a.m. Eastern Time. Audio webcasts will be accessible on the Company's investor relations website, with archives available post-conferences.
Venus Concept (Nasdaq: VERO) has priced a public offering of 11.25 million shares and 5.625 million warrants at a combined price of $2.00 per share. The exercise price for the warrants is $2.50, and they expire in five years. The offering is expected to generate gross proceeds of approximately $22.5 million, which will be utilized for general corporate purposes, including research and development.
Oppenheimer & Co. is the sole book-running manager for this offering, which follows previously filed registration statements with the SEC.
Venus Concept (NASDAQ: VERO) announced plans for an underwritten public offering of common stock and warrants, with details subject to market conditions. The entire offering will be sold by the company, and the size and terms remain uncertain. The proceeds will be used for general corporate purposes, notably funding research and development. Oppenheimer & Co. Inc. is the sole book-running manager, with Ladenburg Thalmann as the lead manager. The offering will be conducted under an existing shelf registration statement, and a prospectus will be filed with the SEC for investor review.
Venus Concept (NASDAQ: VERO) has announced significant improvements to its financial health through new debt agreements. The company secured a $50 million loan from City National Bank of Florida at an interest rate of LIBOR plus 3% for five years, reducing overall borrowing costs from 9% to under 5%. Additionally, it repaid $42.5 million to Madryn Health Partners and issued $26.7 million in convertible notes. This restructuring enhances liquidity and supports the company's growth strategy.
Venus Concept (NASDAQ: VERO) announced a virtual event titled “Aesthetic & Hair Restoration Technology” on December 10, 2020, from 10:00 a.m. to 12:00 p.m. ET. This event will showcase advancements in aesthetic and hair restoration technologies, including the Venus Bliss platform and ARTAS® robotic systems. Attendees can engage with the leadership team and Medical Advisory Board. The webcast will be available on the company's investor relations website, with a replay following the event.
Venus Concept (NASDAQ: VERO) reported a 21% decrease in Q3 2020 revenue, totaling $20.7 million, attributed to COVID-19 disruptions. However, it saw a 22% increase from Q2 2020. The operating loss was $5.3 million, improved from $6.6 million in Q3 2019. The company anticipates achieving $20 million in cost savings by year-end due to restructuring. Net loss for the quarter was $7.3 million, down from $9.0 million in Q3 2019. Total cash as of September 30, 2020, was $12.8 million, with total debt of $74.5 million.
Venus Concept (NASDAQ: VERO) announced its participation in the Stifel 2020 Virtual Healthcare Conference, set for November 16th at 4:00 p.m. ET. The event highlights the company’s innovative medical aesthetic technologies, including their subscription-based sales model in North America and global markets. Interested parties can access a live audio webcast of the presentation on the Company’s investor relations website, with a replay available afterward. Venus Concept has a diverse portfolio, featuring aesthetic and hair restoration technologies, operating in over 60 countries.
Venus Concept (NASDAQ: VERO) will announce its Q3 fiscal 2020 financial results on November 16, 2020, before market opening. The management will host a conference call at 8:00 a.m. ET on the same day to discuss the results, followed by a Q&A session. Those interested can join via phone or listen through a live webcast available on their investor relations website. Venus Concept operates in over 60 countries, offering a diverse portfolio of medical aesthetic technologies and hair restoration systems, focusing on a subscription-based sales strategy.
Venus Concept (NASDAQ: VERO) reported Q2 2020 results with a 39% decline in revenue to $17.0 million, impacted by COVID-19. The company experienced a GAAP net loss of $13.2 million, significantly higher than the previous year's loss of $5.9 million. Operating loss rose to $9.2 million from $3.9 million in 2019. Cost savings from restructuring efforts reached $7.0 million, with a full-year target of $20.0 million. Notably, the company received FDA 510(k) clearance for the Venus Epileve device, enhancing its product offerings. Cash and equivalents stood at $14.0 million as of June 30, 2020.
Venus Concept (NASDAQ: VERO) reported preliminary revenue results for Q2 2020, with expected GAAP revenue between $16.4 million and $16.9 million, reflecting a 39% to 41% decline from $27.8 million in Q2 2019 due to COVID-19 impacts. CEO Domenic Serafino noted improvements as practices reopened, and highlighted strong growth from new product launches. The company projects $38 million in cost savings from ongoing restructuring initiatives, alongside a $31 million stock purchase agreement with Lincoln Park Capital to strengthen its financial position.
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