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.
Overview
Venus Concept Inc is a global medical technology company specializing in the development, commercialization, and delivery of minimally invasive and non-invasive medical aesthetic and hair restoration technologies. Utilizing industry-specific methodologies, the company is renowned for its innovative subscription model, which uniquely pairs cutting-edge aesthetic systems with comprehensive business support designed to empower both emerging and established practices.
Business Model & Value Proposition
At its core, Venus Concept Inc not only provides advanced medical aesthetic devices but also redefines how aesthetic practices engage with technology through its subscription-based business model. This model integrates an extensive warranty program, unmatched marketing support, continuous clinical education, and practice enhancement programs. The seamless coupling of state-of-the-art technological platforms with a unique service-centric approach enables aesthetic professionals to leverage both equipment and business insights, setting a new benchmark in the medical aesthetics industry.
Product & Technology Portfolio
The company offers a broad portfolio of aesthetic systems and related solutions that address a wide range of cosmetic and dermatological challenges. Its product offerings encompass devices for skin, body, and hair restoration treatments. With a focus on non-invasive and minimally invasive procedures, each device is designed to deliver precise, effective treatments that enhance skin tone, tighten texture, and improve overall appearance. Venus Concept Inc's technology platforms incorporate advanced features such as Intense Pulsed Light (IPL), NanoFractional Radio Frequency, and proprietary technologies that blend multiple energy modalities for comprehensive treatment results.
Market Position & Global Reach
Venus Concept Inc has established itself as a key player within the global medical aesthetics market. With operations spanning over 60 countries and a significant presence in its primary revenue market, the United States, the company has built a robust international distribution network. This global footprint is supported by strategic partnerships and rigorous regulatory certifications that underpin its status in various lucrative markets.
Industry Differentiators
- Unique Subscription Model: The company is the first in its industry to offer a true subscription service, providing essential practice support and a suite of comprehensive benefits.
- Technological Innovation: Its diverse portfolio integrates multiple advanced treatment modalities, ensuring that practitioners have access to best-in-class aesthetic solutions.
- Comprehensive Support Services: Beyond technology, Venus Concept Inc enhances the customer experience through extensive warranty programs, ongoing clinical education, and marketing support that collectively reduce barriers to success in the competitive aesthetics landscape.
Operational Excellence & Support Ecosystem
The company's operational strategy is centered on fostering long-term clinical and business success. By offering continuous education and practice enhancement programs, Venus Concept Inc ensures that aesthetic professionals are equipped with the latest industry knowledge and technical training. This robust support ecosystem helps practices optimize their operations while maintaining high standards of patient care.
Competitive Landscape & Positioning
While the medical aesthetics market is highly competitive, Venus Concept Inc differentiates itself through its dual emphasis on technological innovation and an inclusive service model. The combination of high-performance aesthetic systems with an industry-exclusive subscription model provides a competitive edge that addresses both clinical outcomes and business efficiency. This comprehensive approach positions the company as not only a supplier of medical devices but also a strategic partner in facilitating practice growth and operational excellence.
Conclusion
In summary, Venus Concept Inc stands out as an innovative force within the global medical aesthetics arena. Its pioneering subscription model, combined with a rich array of minimally invasive and non-invasive treatment technologies, sets a high standard for quality and support in the industry. By consistently integrating advanced medical technologies with a deep commitment to customer success, the company continues to shape the landscape of medical aesthetics, offering clear value to both practitioners and the broader healthcare market.
Venus Concept Inc. (NASDAQ: VERO), a global medical aesthetic technology leader, has announced that it will release its second quarter fiscal year 2023 financial results after market close on Monday, August 14, 2023. The company will host a conference call at 5:00 p.m. Eastern Time on the same day to discuss the results and conduct a question and answer session.
Interested parties can participate in the call by dialing 877-407-2991 (201-389-0925 for international callers) and providing the access code 13739854. A live webcast will be available on the company's investor relations website. For those unable to attend, a replay will be accessible for two weeks by calling 877-660-6853 (201-612-7415 for international callers) with the same access code.
Venus Concept Inc. (NASDAQ: VERO) reported financial results for Q1 2023:
- Total revenue of $20.5 million, down 22% year-over-year
- GAAP net loss of $9.7 million
- Adjusted EBITDA loss of $5.7 million
- Cash used in operations down 53% year-over-year
The company is executing a restructuring plan to reduce costs by $13-15 million annually starting 2024. Venus Concept completed a 1-for-15 reverse stock split and entered a stock purchase agreement with EW Healthcare Partners for up to $9 million. The company maintains its 2023 revenue guidance of $90-95 million.
Venus Concept, a global leader in medical aesthetic technology, has entered into a stock purchase agreement with EW Healthcare Partners. The agreement allows Venus Concept to issue and sell up to $9 million in senior convertible preferred stock by December 31, 2025. Initial closing involves the sale of 280,899 shares at $7.12 each, totaling $2 million. Proceeds will be used for working capital and general corporate purposes. Subsequent tranches are subject to investor acceptance. The stock is convertible on a 1-for-2.6667 basis. Canaccord Genuity acted as the exclusive placement agent and financial advisor. The securities will be sold in a private placement and are not registered under the Securities Act.
Venus Concept Inc. (NASDAQ: VERO) has announced a 1-for-15 reverse stock split of its issued and outstanding common stock, effective May 11, 2023. The company's common stock is expected to begin trading on a split-adjusted basis on May 12, 2023. The primary goal of this reverse split is to increase the bid price of the common stock to regain compliance with Nasdaq Capital Market listing requirements.
Key points of the reverse stock split include:
- Every 15 shares will be automatically reclassified into one new share
- The company's CUSIP number has changed to 92332W204
- Proportionate adjustments will be made to outstanding warrants, convertible securities, and equity incentive plans
- No fractional shares will be issued; stockholders will receive an additional fraction to round up to the next whole share
- Computershare Inc. has been appointed as the exchange agent for the reverse stock split
Venus Concept (NASDAQ: VERO) announced its first quarter fiscal year 2023 financial results will be released on May 15, 2023, before market opening. The management will host a conference call at 8:00 a.m. Eastern Time the same day to discuss these results, with a Q&A session to follow. Participants can join via phone or listen to a live webcast on the investor relations section of the Company's website.
Venus Concept is a global leader in medical aesthetic technology, offering a wide range of minimally invasive and non-invasive products across 60 countries. Their extensive product lineup includes devices for aesthetic treatments and hair restoration, supported by notable healthcare industry investors.
Venus Concept Inc. (NASDAQ: VERO) reported its financial results for Q4 and FY 2022 on March 27, 2023. Total revenue for Q4 2022 declined 26% year-over-year to $24.3 million, with U.S. revenue down 14% year-over-year but up 17% quarter-over-quarter. The company faced a GAAP net loss of $9.9 million, compared to a loss of $4.3 million in Q4 2021. Adjusted EBITDA loss was $6.3 million versus $2.5 million the prior year. For FY 2022, total revenue fell 6% to $99.5 million, driven by decreases in subscription and service revenues. The company anticipates FY 2023 revenue between $90 million to $95 million, indicating a potential year-over-year decline.
Venus Concept (NASDAQ: VERO) has launched the ARTAS iX, a new generation robotic system for hair transplantation. This innovative technology integrates robotics and artificial intelligence, enabling physicians to implant up to 1000 grafts per hour, making procedures up to 25% faster. Enhancements include a new vision system for improved tracking and graft quality, alongside an intuitive user interface. Dr. Hemanth Varghese highlighted the system's ability to reduce clinical fatigue and optimize workflow, essential for the growing hair restoration market. The ARTAS iX represents a significant advancement in minimizing the labor-intensive aspects of hair restoration procedures.
Venus Concept (NASDAQ: VERO) will release its fourth quarter and fiscal year 2022 financial results on March 27, 2023, before the market opens. Management will conduct a conference call at 8:00 a.m. ET the same day to discuss the results and answer questions. Interested participants can join by phone or via a live webcast on the company's investor relations website. Those unable to attend can access a replay for two weeks following the call. Venus Concept specializes in innovative medical aesthetic technology and has a presence in over 60 countries, offering a wide range of minimally invasive and non-invasive products.
Venus Concept (NASDAQ: VERO) announced a restructuring plan aimed at enhancing operational efficiency and sustainable profitability. This includes a workforce reduction of approximately 18%, cutting up to 70 employees, to generate annual savings of $13 million to $15 million starting in 2024. The preliminary revenue for Q4 2022 is estimated between $23.5 million and $24.5 million, a 25% to 28% decrease from Q4 2021. Full-year revenue for 2022 is projected at $98.7 million to $99.7 million, reflecting a 6% to 7% decline year-over-year. Venus Concept is focused on prioritizing cash sales and shifting resources to promising growth opportunities.
Venus Concept (NASDAQ: VERO) has received FDA 510(k) clearance for its AI.ME robotic technology designed for fractional skin resurfacing. This marks the company's first regulatory approval for its non-surgical robotic system, showcasing significant advancements in medical aesthetics. AI.ME offers minimally-invasive treatments utilizing advanced visualization and AI algorithms for precision. CEO Rajiv De Silva highlights the technology's potential in enhancing aesthetic procedures. Venus Concept aims to commercialize AI.ME in the U.S. in 2023, expanding its innovative product portfolio.
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