Venus Concept Inc Stock Price, News & Analysis

Venus Concept, a leader in medical aesthetic technology, announced its participation in the BTIG Virtual MedTech, Digital Health, Life Science & Diagnostic Tools Conference. The management will engage in a virtual fireside chat on February 16, 2022, at 11:00 a.m. ET. The webcast will be accessible to BTIG clients attending the event. Venus Concept offers a diverse product range, including aesthetic devices and hair restoration technologies, and operates in over 60 countries. Notable backers include EW Healthcare Partners and HealthQuest Capital.

Venus Concept (NASDAQ: VERO) announced its fourth quarter and fiscal year 2022 financial results will be released on March 28, 2022, before market opening. A conference call is scheduled for the same day at 8:00 a.m. ET to discuss the results, followed by a Q&A session. Participants can join via phone or through a live webcast on the investor relations website. Venus Concept specializes in minimally invasive and non-invasive medical aesthetic technologies, operating in over 60 countries with a subscription-based sales model.

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.