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. (VERO) delivers innovative medical aesthetic and hair restoration technologies through its unique subscription-based model. This dedicated news hub provides investors and industry professionals with essential updates on corporate developments, product advancements, and strategic initiatives shaping the global aesthetics market.
Access real-time announcements including quarterly earnings reports, regulatory filings, technology launches, and partnership agreements. Our curated collection ensures you stay informed about VERO's minimally invasive treatment systems, international expansion efforts, and clinical research breakthroughs without promotional bias.
Key coverage areas include financial performance updates, new device approvals, practice support program enhancements, and market expansion activities. Each update is verified for accuracy and presented in clear, accessible language suitable for both professional investors and industry observers.
Bookmark this page for streamlined access to Venus Concept's evolving business narrative. Check regularly for authoritative reporting on how VERO continues integrating advanced technologies like radiofrequency systems and IPL platforms with practice growth initiatives across 60+ countries.
Venus Concept Inc. (NASDAQ: VERO) has announced a $15 million debt-to-equity exchange transaction with Madryn Asset Management. This marks the second substantial reduction of existing debt by Madryn in 2024. The company exchanged $15.0 million of its senior debt for 203,583 shares of Series Y preferred stock on September 26, 2024.
Following this transaction, Venus Concept's total debt obligations decreased to approximately $34.6 million, representing a 25% reduction from $46.0 million as of June 30, 2024, and a 54% reduction from $74.9 million as of December 31, 2023. This move is part of the company's ongoing transformation plan to optimize its capital structure and debt profile.
Venus Concept Inc. (NASDAQ: VERO) has received clearance from the Therapeutic Goods Administration (TGA) in Australia to market its Venus Bliss MAX system. This flagship platform offers a comprehensive body treatment solution, combining three of Venus Concept's leading technologies:
1. Proprietary (MP)2 applicator for cellulite reduction and skin treatments
2. FlexMax EMS applicators for muscle conditioning
3. Diode laser for fat reduction treatments
The Venus Bliss MAX is already available in select markets globally and has received positive feedback from service providers. Dr. Hemanth Varghese, President and COO of Venus Concept, expressed confidence that the system's success will be replicated in Australia.
Venus Concept Inc. (NASDAQ: VERO) reported Q2 2024 financial results, showing mixed performance. Total revenue decreased 17% year-over-year to $16.6 million, meeting the company's estimate of at least $16.5 million. Despite the revenue decline, the company saw improvements in other areas:
- Gross margin increased by 62 basis points to 71.5%
- Operating expenses decreased by 13%
- Cash used in operations reduced by 37% year-over-year
- Completed a $35 million debt-to-equity exchange, reducing debt and regaining Nasdaq compliance
The company continues to execute its Transformational Plan, focusing on enhancing cash flow and positioning for long-term profitability. However, aesthetic capital equipment sales remain challenged by macroeconomic headwinds.
Venus Concept Inc. (NASDAQ: VERO) has received regulatory approval from Health Canada to market its Venus Bliss MAX system in Canada. This 3-in-1 body shaping solution, first launched in the U.S. in early 2022, combines three technologies:
- Diode laser for fat reduction
- Proprietary (MP)2 applicator for cellulite reduction and skin treatments
- FlexMax EMS applicators for muscle toning and conditioning
The approval expands Venus Concept's market reach, offering Canadian clinicians and aesthetic practices a comprehensive non-invasive body treatment solution. Dr. Hemanth Varghese, President and COO, emphasized the benefits this unique combination of technologies brings to the evolving aesthetic marketplace.
Venus Concept Inc. (NASDAQ: VERO), a global medical aesthetic technology leader, has announced the release date for its second quarter fiscal year 2024 financial results. The results will be unveiled before the market opens on Tuesday, August 13, 2024. Following the release, management will host a conference call at 8:00 a.m. Eastern Time to discuss the quarterly results and conduct a Q&A session.
Interested parties can participate in the call by dialing 877-407-2991 (201-389-0925 for international callers) and using the access code 13747737. A live webcast will also be available on the company's investor relations website. For those unable to attend, a two-week replay will be accessible via phone, and the webcast will be archived on the company's IR site.
Venus Concept (NASDAQ: VERO) successfully completed its NEXThetics events across major North American cities. These events have grown in popularity, with thousands of registrants, including their largest gathering in Houston, Texas, on June 22, 2024. The events showcased Venus Aesthetic Intelligence’s (Venus AI) Total Practice Performance philosophy and new technologies like Venus Versa Pro. Attendees included dermatologists, plastic surgeons, and spa owners, who engaged with industry experts and learned about the latest trends to enhance their practices. Upcoming events in 2024 will expand to Phoenix, Las Vegas, New York City, Atlanta, Dallas, and Minneapolis.
Venus Concept (NASDAQ: VERO) announced a strategic supply agreement with Skin Laundry Holdings on June 17, 2024. The deal includes an initial order of Venus Viva devices and consumables for Skin Laundry's US clinics. These devices utilize Venus Concept's (MP)2 NanoFractional RF Technology with SmartScan, known for effective skin resurfacing and tightening. Venus Concept boasts over 9,000 systems globally. Skin Laundry, founded in 2013, operates 66 clinics and specializes in quick, minimally invasive energy facials. Both companies anticipate continued collaboration as Skin Laundry expands domestically and internationally.
Venus Concept, a global leader in medical aesthetic technology, has regained compliance with Nasdaq's Minimum Equity Requirement as of June 4, 2024. The company was previously issued a deficiency notice on May 31, 2023, for not meeting the minimum stockholders' equity requirement of $2.5 million, as per their March 31, 2023, Quarterly Report. To rectify this, Venus Concept completed a $35 million debt-to-equity transaction on May 28, 2024. As a result, the company met the compliance requirements verified by Nasdaq. Venus Concept will be under mandatory panel monitoring until June 4, 2025, according to Nasdaq Listing Rule 5815(d)(4)(B).
Venus Concept announced that it received a medical device license from Health Canada for its Venus Versa Pro system.
The Venus Versa Pro is a comprehensive aesthetic platform that integrates IPL with SmartPulse™, NanoFractional Radio Frequency with SmartScan™, and Venus Concept's proprietary (MP)2 technology.
This device is designed to provide a range of skin rejuvenation treatments, including enhancing skin tone, improving tightness, and smoothing texture.
Dr. Hemanth Varghese, President and COO, emphasized the company's excitement about bringing this advanced technology to the Canadian market.
Venus Concept, a global medical aesthetic technology leader, announced a $35 million debt-to-equity exchange with Madryn Asset Management. On May 24, 2024, the company exchanged $35 million of senior debt for 576,986 shares of Series Y preferred stock, convertible into common stock on a 1-for-100 basis. This transaction reduced Venus Concept's debt from $76.7 million to $45.4 million and aimed to help the company comply with Nasdaq's equity listing standards. Venus Concept's CEO, Rajiv De Silva, stated that this move is part of ongoing restructuring to achieve cash flow breakeven in 2025 and long-term profitability.
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