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 (NASDAQ: VERO) will announce its second quarter financial results for fiscal year 2021 on August 13, 2021, before market open. A conference call to discuss these results will occur at 8:00 a.m. ET the same day, with a Q&A session to follow. Interested parties may join by dialing 877-407-2991, or view the live webcast on the company's investor relations site. Venus Concept is recognized for its wide range of minimally invasive and non-invasive aesthetic technologies across over 60 countries, supporting a subscription-based sales model in North America.
Venus Concept (NASDAQ: VERO) reported a 56% increase in total revenue for Q1 2021, reaching $22.6 million compared to $14.5 million in Q1 2020. The company's gross margin improved to 67.4% from 64.0%, while the GAAP operating loss significantly decreased to $6.8 million from $43.6 million year-over-year. Adjusted EBITDA loss decreased 63% to $5.0 million. The company revised its 2021 revenue guidance to $100 million to $105 million, an anticipated growth of 28% to 35%.
Venus Concept (NASDAQ: VERO) announced its financial results for Q1 fiscal year 2021 will be released on May 17, 2021, after market close. A conference call is scheduled for the same day at 5:00 PM ET to discuss these results, with participation details provided for both domestic and international callers. The call will also be available via a live webcast and archived for later access. Venus Concept is known for its innovative medical aesthetic technologies, operating in over 60 countries with a subscription-based sales model.
Venus Concept (NASDAQ: VERO) reported Q4 2020 revenue of $25.8 million, down 19% YoY from $31.9 million, impacted by COVID-19. However, it marked a 25% increase from Q3 2020's $20.7 million. The operating loss decreased by 42% YoY to $10.3 million, with a net loss of $15.0 million, improving from $22.7 million in Q4 2019. Adjusted EBITDA loss was $2.4 million, compared to $11.5 million the previous year. For 2021, guidance suggests revenue growth of 26% to 32%, assuming no significant COVID-19 resurgence. Cash stood at $34.4 million as of December 31, 2020.
Venus Concept (NASDAQ: VERO) announced the signing of Venus Williams as the brand ambassador for its Venus Bliss™ product line. CEO Dom Serafino expressed enthusiasm about this partnership, stating Williams represents the company's vision and values. Williams, a highly accomplished athlete and entrepreneur, has a positive public image that aligns with the brand. Venus Concept is a leader in medical aesthetic technology, offering a range of minimally invasive and non-invasive products across over 60 countries.
Venus Concept (NASDA: VERO) announced its participation in major investor conferences in March 2021. The Oppenheimer 31st Annual Healthcare Conference will take place virtually from March 16-18, with management presenting at 3:10 p.m. ET on March 17. They will also participate in the Maxim Emerging Growth Conference on March 17-18, featuring a panel discussion on March 17 at 2:00 p.m. ET. Audio webcasts of these presentations will be available on their investor relations website.
Venus Concept, a leading global medical aesthetic technology firm, announced its participation in the H.C. Wainwright Annual Global Life Sciences Conference on March 9-10, 2021. The company's management will present virtually, with the presentation available on-demand starting March 9 at 7:00 a.m. Eastern Time. The audio webcast can be accessed on the company’s investor relations website, and an archive will be available post-conference. Venus Concept operates in over 60 countries, offering a broad range of minimally invasive aesthetic technologies and hair restoration systems.
Venus Concept, a leader in medical aesthetic technology, announced its participation in the BTIG Virtual MedTech, Digital Health, Life Science & Diagnostic Tools Conference on February 17, 2021, at 10:00 a.m. Eastern Time.
The engagement will feature a virtual fireside chat, accessible via an audio webcast on the Company’s investor relations website. Post-event, an archive of the webcast will be available for replay. Venus Concept specializes in minimally invasive aesthetic technologies and has operations in over 60 countries.
Venus Concept (NASDAQ: VERO) announced that it will release its fourth quarter and fiscal year 2020 financial results after the market closes on March 29, 2021. Management will host a conference call at 5:00 PM ET on the same day to discuss these results, with a question-and-answer session to follow. Participants can join by dialing 877-407-2991 and using access code 13715787. A live webcast will also be available on their investor relations website, with a replay option for those unable to attend.
Venus Concept (NASDAQ: VERO) reported preliminary revenue for Q4 2020, expecting between $25.3M to $26.3M, a decrease of 21% to 24% from Q4 2019. For FY 2020, revenue is projected at $77.5M to $78.5M, declining 36% to 37% year-over-year. Despite challenges from COVID-19, the company anticipates FY 2021 revenue growth of 27% to 31%, estimating between $98M to $103M. The management highlighted a strengthened balance sheet with approximately $30 million in cash, following recent financing activities, which they believe positions the company for future growth.
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