“We are pleased with the progress we have made in our strategic turnaround plan in 2023. Our restructuring efforts to reduce expenses are exceeding expectations, and repositioning of the business in the US and internationally supports growth in 2024,” said Rajiv De Silva, Chief Executive Officer of Venus Concept. “While revenue expectations for the year are lower than expected, primarily due to our accelerated restructuring of certain international markets, we are pleased with the performance in the US market. Our primary objective for 2023 has been to reduce cash burn by 50% or more year over year, which we are still on track to achieve due to our cost restructuring efforts.”
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See today’s best-performing stocks on TipRanks >>
Read More on VERO:
- Venus Concept Inc. Announces Debt Restructuring, Preliminary Third Quarter 2023 Revenue Results and Updates Fiscal Year 2023 Revenue Guidance
- Venus Concept Receives 510(k) Clearance for the Venus Versa Pro System, Its New Multi-Application Platform
- Venus Concept receives 510k clearance for Venus Versa Pro System
- Venus Concept Inc. to Present at the H.C. Wainwright 25th Annual Global Investment Conference
- Venus Concept reports Q2 EPS ($1.35), consensus ($1.54)
