Venus Concept reports Q4 EPS ($2.01), consensus ($1.18)

Reports Q4 revenue $18.132M, consensus $22.45M. “Our fourth quarter revenue results reflect softer-than-expected system sales in the U.S. due to macroeconomic conditions and tighter credit markets, and by the impact of our accelerated restructuring activities in certain international markets,” said Rajiv De Silva, Chief Executive Officer of Venus Concept. “We have successfully executed our strategic turnaround plan, and our efforts to reposition and restructure the business resulted in a 20% reduction in operating expenses. Importantly, we delivered on our primary objective for 2023 to reduce cash burn by 50% or more year over year. We remain in active dialogue with our lenders and investors to find ways to best enable Venus Concept to achieve our strategic objectives and to accelerate the path to long-term, sustainable, profitability and growth. We also continue to explore strategic alternatives with various interested parties to maximize shareholder value.”