Venus Concept FY2023 revenue $76.4M (-23% YoY); net loss $37.3M; cash burn halved

Venus Concept Inc.

2024-Q1 EPS reported -$1.68 revenue$17,479,000

Total revenue $76.4M for FY2023, down 23% YoY from $99.5M; Q4 revenue $18.1M, down 25% YoY.
GAAP net loss attributable to stockholders $37.3M ($6.84/share) vs $43.8M in FY2022; Q4 net loss $11.1M.
Cash used in operations $12.9M in FY2023, down 52% from $27.0M YoY; cash & equivalents $5.4M, debt $74.9M.
Q1 2024 revenue guidance at least $16.5M; no full-year 2024 guidance provided due to strategic review.
Board evaluating strategic alternatives; Nasdaq continued listing conditioned on compliance by May 28, 2024.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Venus Concept Inc. reported three and twelve months ended December 31, 2023 results: revenue $18.1 million, net income GAAP net loss attributable to stockholders of $11.1 million.

Period: three and twelve months ended December 31, 2023
Revenue: $18.1 million
Net income: GAAP net loss attributable to stockholders of $11.1 million
Result: reported results

Exact text from the filing

to 58% in the prior year period • Macroeconomic headwinds and accelerated restructuring in international markets resulted in softer-than-expected system sales; total revenue of $18.1 million, down $6.2 million, or 25%, year-over-year; up $0.5 million, or 3%, quarter-over-quarter • Operating expenses of $19.7 million, including approximately $0.3 million of costs

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Source: SEC EDGAR

accession 0001140361-24-016754

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