Venus Concept Inc. (VERO) reports earnings

The report was filed on March 31, 2025

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Venus Concept Inc. (VERO-15.65%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.

The filing reports a total revenue of $64.8 million for the year, a decrease from $76.4 million in the previous year. This decline is attributed to tighter third-party lending practices and an accelerated exit from unprofitable direct markets.

The company reported a net loss of $47.0 million, compared to a net loss of $37.1 million in the prior year. The increase in net loss is primarily due to a $11.4 million loss on debt extinguishment.

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Venus Concept's gross profit was $44.3 million, with a gross margin of 68.3%, consistent with the previous year. Operating expenses decreased to $71.5 million from $80.5 million, reflecting cost-saving measures.

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The company had cash and cash equivalents of $4.3 million as of December 31, 2024, down from $5.4 million at the end of 2023. Total debt obligations were approximately $39.7 million.

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Venus Concept continues to focus on improving cash generation and reducing exposure to credit losses by prioritizing cash sales over internal financing program sales.

The filing also notes that the company is evaluating strategic alternatives to enhance shareholder value, including potential financings, mergers, or other business combinations.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Venus Concept Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.