Venus Concept Reports 2024 Financial Results

Venus Concept ( (VERO) ) has released its Q4 earnings. Here is a breakdown of the information Venus Concept presented to its investors.

Venus Concept Inc. is a global leader in medical aesthetic technology, specializing in minimally invasive and non-invasive aesthetic and hair restoration solutions, with a presence in over 60 countries. The company recently announced its financial results for the fourth quarter and fiscal year 2024, highlighting significant strides in its transformation plan, including a notable reduction in outstanding debt and operational cost management. Despite a 13% year-over-year decline in fourth-quarter revenue to $15.8 million, the company improved its net loss by 28% and reduced operating expenses by 11%. The fiscal year 2024 saw a 15% decrease in total revenue to $64.8 million, driven by declines in both U.S. and international markets, but the company successfully cut its debt by 47% to $39.7 million. Looking ahead, Venus Concept remains focused on strategic investments and cost management to foster growth, while actively engaging with lenders and investors to explore strategic alternatives for maximizing shareholder value.