Venus Concept reports Q1 EPS ($17.44) vs ($16.92) last year

Reports Q1 revenue $13.643M vs $17.479M last year. “Our team delivered solid execution despite the continued challenging environment,” said Rajiv De Silva, Chief Executive Officer of Venus Concept (VERO). “Our first quarter revenue results came in modestly softer than expectations due to the timing of new system adoption expected in late-March, that closed in early April. We are navigating the challenging operating environment and are targeting revenue growth on a sequential basis in the second quarter. Our focus remains on managing our cash burn through disciplined cost management and making targeted investments to support our long-term growth. We enhanced our balance sheet condition subsequent to quarter-end with a new bridge loan amendment from Madryn and two equity capital transactions which together represent further validation – from existing and new investors – of the potential value creation opportunity Venus offers.”