Venus Concept reports Q3 EPS ($12.14) vs ($13.10) last year

Reports Q3 revenue $13.8M vs $15.007M last year. “Our third quarter results reflect our continued solid execution in a difficult environment for all companies,” said Rajiv De Silva, Chief Executive Officer of Venus Concept (VERO). “Our focus remains on positioning the Company for long-term success by managing our cash burn and making targeted investments to support our future growth. We are very encouraged by the signs of stabilization in our EBD business. We were especially pleased to announce FDA 510(k) clearance for our new Venus NOVA on November 10th the first product launch from our new, focused R&D strategy. We are targeting sequential growth in the fourth quarter fueled, in part, by a limited commercial launch of this innovative new body and skin system in December. Our balance sheet and capital structure transformation carried on this quarter through multiple transactions including amendments to increase available financing capacity under our existing bridge loan facility and a debt-to-equity exchange transaction totaling $11.5 million in converted debt. While the global macro environment continues to challenge the aesthetics market, the Venus team is engaged, focused and determined. We continue to appreciate the support of Madryn Asset Management, LP as we continue our turnaround.”