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Venus Concept Inc Financials

VERO
Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Venus Concept Inc (VERO) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 10 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Profitability Growth Leverage Liquidity Cash Flow Returns 6 / 100
Financial Profile 6/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability
0

Venus Concept Inc has an operating margin of -41.9%, meaning the company retains $-42 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -37.1% the prior year.

Growth
8

Venus Concept Inc's revenue declined 15.1% year-over-year, from $76.4M to $64.8M. This contraction results in a growth score of 8/100.

Leverage
0

Venus Concept Inc has elevated debt relative to equity (D/E of 13.27), meaning the company relies heavily on borrowed funds. This high leverage results in a low score of 0/100, reflecting increased financial risk.

Liquidity
28

Venus Concept Inc's current ratio of 1.60 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 28/100, which could limit financial flexibility.

Cash Flow
0

While Venus Concept Inc generated -$11.1M in operating cash flow, capex of $123K consumed most of it, leaving -$11.2M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.

Returns
0

Venus Concept Inc generates a -1983.8% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.

Piotroski F-Score Neutral
4/9

Venus Concept Inc passes 4 of 9 financial strength tests. 1 of 4 profitability signals pass, 1 of 3 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Low Quality
0.24x

For every $1 of reported earnings, Venus Concept Inc generates $0.24 in operating cash flow (-$11.1M OCF vs -$47.0M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.

Interest Coverage At Risk
-4.2x

Venus Concept Inc earns $-4.2 in operating income for every $1 of interest expense (-$27.2M vs $6.5M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Earnings & Revenue

Revenue
$64.8M
YoY-15.1%
5Y CAGR-10.1%

Venus Concept Inc generated $64.8M in revenue in fiscal year 2024. This represents a decrease of 15.1% from the prior year.

EBITDA
-$23.3M
YoY+3.7%

Venus Concept Inc's EBITDA was -$23.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 3.7% from the prior year.

Net Income
-$47.0M
YoY-26.2%

Venus Concept Inc reported -$47.0M in net income in fiscal year 2024. This represents a decrease of 26.2% from the prior year.

EPS (Diluted)
$-71.21
YoY-4.0%

Venus Concept Inc earned $-71.21 per diluted share (EPS) in fiscal year 2024. This represents a decrease of 4.0% from the prior year.

Cash & Balance Sheet

Free Cash Flow
-$11.2M
YoY+13.8%

Venus Concept Inc generated -$11.2M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 13.8% from the prior year.

Cash & Debt
$4.3M
YoY-20.8%
5Y CAGR-22.9%

Venus Concept Inc held $4.3M in cash against $31.4M in long-term debt as of fiscal year 2024.

Dividends Per Share
N/A
Shares Outstanding
709,130
YoY+28.4%

Venus Concept Inc had 709,130 shares outstanding in fiscal year 2024. This represents an increase of 28.4% from the prior year.

Margins & Returns

Gross Margin
68.3%
YoY+0.0pp
5Y CAGR-1.1pp

Venus Concept Inc's gross margin was 68.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 0.0 percentage points from the prior year.

Operating Margin
-41.9%
YoY-4.8pp
5Y CAGR-14.5pp

Venus Concept Inc's operating margin was -41.9% in fiscal year 2024, reflecting core business profitability. This is down 4.8 percentage points from the prior year.

Net Margin
-72.5%
YoY-23.7pp
5Y CAGR-35.7pp

Venus Concept Inc's net profit margin was -72.5% in fiscal year 2024, showing the share of revenue converted to profit. This is down 23.7 percentage points from the prior year.

Return on Equity
-1983.8%
5Y CAGR-1929.0pp

Venus Concept Inc's ROE was -1983.8% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

Capital Allocation

R&D Spending
$6.7M
YoY-18.4%
5Y CAGR-3.6%

Venus Concept Inc invested $6.7M in research and development in fiscal year 2024. This represents a decrease of 18.4% from the prior year.

Share Buybacks
N/A
Capital Expenditures
$123K
YoY+6.0%
5Y CAGR-35.7%

Venus Concept Inc invested $123K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 6.0% from the prior year.

VERO Income Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Revenue $13.8M-12.2% $15.7M+15.0% $13.6M-13.5% $15.8M+5.1% $15.0M-9.5% $16.6M-5.1% $17.5M-3.6% $18.1M
Cost of Revenue $5.0M-20.8% $6.3M+28.1% $4.9M+0.2% $4.9M-4.1% $5.1M+7.5% $4.7M-18.8% $5.8M-3.9% $6.1M
Gross Profit $8.8M-6.5% $9.4M+7.7% $8.8M-19.6% $10.9M+9.8% $9.9M-16.3% $11.8M+1.7% $11.6M-3.4% $12.1M
R&D Expenses $1.3M-5.5% $1.4M-13.0% $1.6M+5.6% $1.5M-12.9% $1.7M-2.6% $1.7M-2.7% $1.8M+6.9% $1.7M
SG&A Expenses $9.6M+2.3% $9.4M-3.1% $9.7M+10.2% $8.8M+1.1% $8.7M+0.8% $8.7M-15.5% $10.2M+1.3% $10.1M
Operating Income -$9.5M-5.0% -$9.0M+5.1% -$9.5M-42.8% -$6.7M+6.8% -$7.2M-27.9% -$5.6M+27.9% -$7.8M-1.7% -$7.6M
Interest Expense $1.1M+3.2% $1.1M-15.9% $1.3M+22.8% $1.1M-27.7% $1.5M-18.7% $1.8M-11.9% $2.1M-3.8% $2.2M
Income Tax $531K+148.1% $214K-36.7% $338K+144.6% -$758K-2345.2% -$31K-122.0% $141K+281.1% $37K+121.3% -$174K
Net Income -$22.6M-92.5% -$11.7M+5.2% -$12.4M-55.2% -$8.0M+14.2% -$9.3M+53.5% -$20.0M-103.7% -$9.8M+11.9% -$11.1M
EPS (Diluted) $-12.14-51.2% $-8.03+54.0% $-17.44 N/A $-13.10+57.6% $-30.93-82.8% $-16.92 N/A

VERO Balance Sheet

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Total Assets $61.6M-2.3% $63.1M-0.6% $63.5M-6.9% $68.2M-5.7% $72.3M-9.4% $79.8M-6.3% $85.1M-9.2% $93.7M
Current Assets $45.8M+1.6% $45.1M-1.1% $45.6M-6.0% $48.5M-5.3% $51.2M-10.0% $56.9M-6.3% $60.7M-8.6% $66.4M
Cash & Equivalents $4.3M+11.2% $3.9M+21.2% $3.2M-25.1% $4.3M-4.9% $4.5M-21.7% $5.7M+12.7% $5.1M-5.7% $5.4M
Inventory $15.8M-0.6% $15.9M-10.1% $17.6M+0.4% $17.6M-7.1% $18.9M-4.4% $19.8M-5.7% $21.0M-9.1% $23.1M
Accounts Receivable $16.5M+4.7% $15.8M-6.0% $16.8M-10.4% $18.7M-11.3% $21.1M-14.2% $24.6M-9.5% $27.2M-6.8% $29.2M
Goodwill N/A N/A N/A N/A N/A N/A N/A N/A
Total Liabilities $58.5M-3.0% $60.3M-0.7% $60.7M-7.1% $65.3M+6.0% $61.6M-18.2% $75.4M-29.5% $107.0M-0.1% $107.1M
Current Liabilities $50.6M+23.2% $41.1M+15.5% $35.6M+17.6% $30.3M+10.3% $27.5M-3.8% $28.5M-3.1% $29.4M-5.5% $31.2M
Long-Term Debt $5.0M-68.5% $15.9M-26.4% $21.6M-31.4% $31.4M+4.7% $30.0M-29.2% $42.4M-41.6% $72.6M+2.5% $70.8M
Total Equity $2.7M+14.9% $2.3M+2.9% $2.3M-4.5% $2.4M-76.6% $10.1M+173.0% $3.7M+116.5% -$22.5M-60.4% -$14.0M
Retained Earnings -$355.5M-6.8% -$333.0M-3.6% -$321.3M-4.0% -$308.9M-2.6% -$300.9M-3.2% -$291.6M-7.3% -$271.7M-3.7% -$261.9M

VERO Cash Flow Statement

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Operating Cash Flow -$4.9M+10.2% -$5.4M+13.7% -$6.3M-65.7% -$3.8M-24.9% -$3.0M-128.9% -$1.3M+53.7% -$2.9M-271.8% -$774K
Capital Expenditures $17K-89.5% $162K+362.9% $35K-56.3% $80K+2100.0% -$4K-118.2% $22K-12.0% $25K-7.4% $27K
Free Cash Flow -$4.9M+12.5% -$5.6M+11.6% -$6.3M-63.2% -$3.9M-27.3% -$3.1M-125.5% -$1.4M+53.4% -$2.9M-262.4% -$801K
Investing Cash Flow -$17K+89.5% -$162K-362.9% -$35K+56.3% -$80K-2100.0% $4K+118.2% -$22K+12.0% -$25K+7.4% -$27K
Financing Cash Flow $6.0M-17.9% $7.3M+38.0% $5.3M+43.7% $3.7M+103.6% $1.8M-9.9% $2.0M-22.9% $2.6M+104.1% $1.3M
Dividends Paid N/A N/A N/A N/A N/A N/A N/A N/A
Share Buybacks N/A N/A N/A N/A N/A N/A N/A N/A

VERO Financial Ratios

Metric Q3'25 Q2'25 Q1'25 Q4'24 Q3'24 Q2'24 Q1'24 Q4'23
Gross Margin 64.0%+3.9pp 60.1%-4.1pp 64.2%-4.9pp 69.1%+3.0pp 66.1%-5.3pp 71.5%+4.8pp 66.6%+0.1pp 66.5%
Operating Margin -68.9%-11.3pp -57.6%+12.2pp -69.8%-27.5pp -42.3%+5.4pp -47.7%-13.9pp -33.8%+10.6pp -44.4%-2.3pp -42.1%
Net Margin -163.8%-89.1pp -74.7%+15.9pp -90.6%-40.1pp -50.5%+11.4pp -61.9%+58.4pp -120.3%-64.3pp -56.0%+5.3pp -61.3%
Return on Equity -844.2%-340.5pp -503.7%+42.8pp -546.5%-210.3pp -336.2%-244.4pp -91.9%+447.0pp -538.9% N/A N/A
Return on Assets -36.6%-18.0pp -18.6%+0.9pp -19.5%-7.8pp -11.7%+1.2pp -12.8%+12.2pp -25.0%-13.5pp -11.5%+0.4pp -11.9%
Current Ratio 0.90-0.2 1.10-0.2 1.28-0.3 1.60-0.3 1.86-0.1 1.99-0.1 2.06-0.1 2.13
Debt-to-Equity 1.87-4.9 6.82-2.7 9.53-3.7 13.27+10.3 2.97-8.5 11.45+14.7 -3.23+1.8 -5.05
FCF Margin -35.6%+0.1pp -35.8%+10.8pp -46.5%-21.9pp -24.7%-4.3pp -20.3%-12.2pp -8.2%+8.4pp -16.6%-12.2pp -4.4%

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Frequently Asked Questions

Venus Concept Inc (VERO) reported $64.8M in total revenue for fiscal year 2024. This represents a -15.1% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

Venus Concept Inc (VERO) revenue declined by 15.1% year-over-year, from $76.4M to $64.8M in fiscal year 2024.

No, Venus Concept Inc (VERO) reported a net income of -$47.0M in fiscal year 2024, with a net profit margin of -72.5%.

Venus Concept Inc (VERO) reported diluted earnings per share of $-71.21 for fiscal year 2024. This represents a -4.0% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Venus Concept Inc (VERO) had EBITDA of -$23.3M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

As of fiscal year 2024, Venus Concept Inc (VERO) had $4.3M in cash and equivalents against $31.4M in long-term debt.

Venus Concept Inc (VERO) had a gross margin of 68.3% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

Venus Concept Inc (VERO) had an operating margin of -41.9% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

Venus Concept Inc (VERO) had a net profit margin of -72.5% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Venus Concept Inc (VERO) has a return on equity of -1983.8% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

Venus Concept Inc (VERO) generated -$11.2M in free cash flow during fiscal year 2024. This represents a 13.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Venus Concept Inc (VERO) generated -$11.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

Venus Concept Inc (VERO) had $68.2M in total assets as of fiscal year 2024, including both current and long-term assets.

Venus Concept Inc (VERO) invested $123K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Venus Concept Inc (VERO) invested $6.7M in research and development during fiscal year 2024.

Venus Concept Inc (VERO) had 709,130 shares outstanding as of fiscal year 2024.

Venus Concept Inc (VERO) had a current ratio of 1.60 as of fiscal year 2024, which is generally considered healthy.

Venus Concept Inc (VERO) had a debt-to-equity ratio of 13.27 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

Venus Concept Inc (VERO) had a return on assets of -68.9% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Based on fiscal year 2024 data, Venus Concept Inc (VERO) had $4.3M in cash against an annual operating cash burn of $11.1M. This gives an estimated cash runway of approximately 5 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.

Venus Concept Inc (VERO) has a Piotroski F-Score of 4 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Venus Concept Inc (VERO) has an earnings quality ratio of 0.24x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Venus Concept Inc (VERO) has an interest coverage ratio of -4.2x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

Venus Concept Inc (VERO) scores 6 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.

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