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 medical aesthetic technology company whose news flow reflects both its product developments and its capital and strategic actions. The company describes itself as a global medical aesthetic technology leader with a portfolio of minimally invasive and non-invasive systems for body, face, skin and hair restoration applications. Its updates often highlight device platforms such as Venus Versa, Venus Legacy, Venus Bliss, Venus Viva, Venus Epileve, AI.ME and, more recently, the next-generation Venus NOVA platform.
On this news page, readers can follow VERO news related to quarterly financial results, regulatory milestones, financing transactions and strategic portfolio moves. Recent press releases have covered second and third quarter financial results, including revenue by region and product category, gross profit trends, operating expenses and operating loss. Management commentary in these releases discusses the performance of energy-based device revenues, the impact of macroeconomic conditions on capital equipment sales, and the company’s efforts in cost containment and operational streamlining.
Venus Concept’s news also includes regulatory and product announcements, such as FDA 510(k) clearance for Venus NOVA, a multi-application platform for non-invasive body and skin treatments that integrates Adaptive EMS, proprietary (MP)² technology and Advanced VariPulse. In addition, the company reports on capital structure and financing events, including registered direct offerings of common stock, private placements of warrants, bridge loan drawdowns and debt-to-equity exchanges of subordinated convertible notes into Series Y Preferred Stock.
Another recurring theme in VERO news is the company’s strategic initiatives, notably the definitive agreement to sell its Venus Hair business, which includes NeoGraft and the ARTAS iX Robotic Hair Restoration system, to MHG Co. Ltd. Investors and observers can use this page to monitor how these developments evolve over time, from transaction announcements and court-related updates to subsequent financial disclosures.
Venus Concept announced FDA 510(k) clearance for its new Venus BlissMAX device, enhancing its body treatment offerings. This innovative platform combines fat reduction, cellulite treatment, and muscle conditioning in a single unit, utilizing advanced technologies like diode lasers and Multi-Polar Radio Frequency. CEO Domenic Serafino highlighted the platform's cost-effectiveness and minimal downtime for users. A limited U.S. launch is planned by Q1 2022. Venus Concept operates globally with a subscription-based sales model, serving over 60 countries.
Venus Concept reported preliminary unaudited revenue results for Q4 2021, estimating total GAAP revenue between $32.0 million and $33.0 million, up 24% to 28% year-over-year. U.S. revenues grew over 30% year-over-year, with international sales increasing 20%. Strong sales in hair restoration contributed to a 36% increase in total systems revenue. For fiscal year 2021, total GAAP revenue is expected to be between $105.0 million and $106.0 million, marking a 35% to 36% increase from 2020. Outlook for 2022 includes 20% revenue growth, driven by new product launches.
Venus Concept (NASDAQ: VERO) has successfully completed a non-brokered private placement, issuing 9,808,418 common shares and 3,790,755 preferred nonvoting shares at $1.25 each, raising approximately $17 million. The funding will support working capital and the development of AIme™, its innovative robotic technology platform. Masters Special Situations led this financing, gaining the right to nominate a director. The company anticipates achieving cash flow positivity by Q4 2022, enhancing its growth prospects in the medical aesthetics market.
Venus Concept (NASDAQ: VERO) reported a 19% year-over-year increase in total revenue for Q3 2021, reaching $24.6 million. U.S. revenue surged 67% to $13.0 million, while international revenue dropped 10%. The gross margin improved to 70.5%, up 5.2% percentage points. However, the GAAP net loss attributable to stockholders increased 35% to $9.8 million. The company also tightened its fiscal year 2021 revenue guidance to anticipate a growth of 33% to 37%.
Venus Concept, a leader in medical aesthetic technology, announces management's participation in the Stifel 2021 Virtual Healthcare Conference on November 17th at 4:00 p.m. ET. An audio webcast of the session will be available on their investor relations website, and a replay will follow the event. The company operates in over 60 countries, focusing on a subscription-based model for its diverse product portfolio, which includes devices for aesthetic procedures and hair restoration systems like NeoGraft and ARTAS.
Venus Concept (NASDAQ: VERO) announced FDA 510(k) clearance to market the Venus Freedom device in the U.S. This non-invasive device offers non-thermal radiofrequency treatment combined with massage and magnetic field pulses, targeting minor muscle aches and improving local blood circulation. CEO Domenic Serafino expressed optimism about expanding their technology portfolio, following previous Health Canada authorization for Venus Fiore. A limited launch is expected in Q1 2022. Venus Concept's innovative business model aims to provide attractive returns for the OBGYN community.
Venus Concept (NASDAQ: VERO) announced the appointment of Ross J. Portaro as President of Global Sales, effective October 15, 2021. He replaces Chad A. Zaring, who is resigning but will remain as a consultant until March 31, 2022. Portaro, previously Vice President of EMEA, brings over 30 years of healthcare experience. His leadership aims to strengthen the company's sales organization and enhance customer satisfaction. Venus Concept is recognized as an innovator in medical aesthetic technology, with a diverse product portfolio and operations in over 60 countries.
Venus Concept (NASDAQ: VERO) will announce its Q3 fiscal 2021 financial results on November 12, 2021, prior to market opening. A conference call is scheduled for 8:00 a.m. ET that day, featuring a Q&A session. Participants can join via phone with access code 13723892 or through a live webcast on their investor relations website. Venus Concept specializes in medical aesthetic technologies with a subscription-based sales model across more than 60 countries. The company offers a wide range of aesthetic devices and hair restoration systems, and is supported by prominent healthcare investors.
Venus Concept, a leader in medical aesthetic technology, will participate in the H.C. Wainwright 23rd Annual Global Investment Conference from September 13-15, 2021. Management's presentation will be available on-demand starting September 13 at 7:00 a.m. Eastern Time. Additionally, virtual investor meetings are scheduled for September 14. The presentation can be accessed via the Company's investor relations website, with a replay available post-conference. Venus Concept operates in over 60 countries, offering a range of minimally and non-invasively aesthetic and hair restoration technologies.
Venus Concept (NASDAQ: VERO) reported robust Q2 2021 financial results, with total revenue of $25.8 million, a 52% increase year-over-year. The company's gross margin improved to 72.5%, and GAAP operating income surged by 117% to $1.5 million. Net income also saw a significant rise, reaching $0.4 million. The company upgraded its full-year revenue guidance to between $102.0 million and $107.0 million, representing a projected growth of 31% to 37%. Recent product developments and collaborations further bolster its market position.