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 (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.
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.
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