Venus Concept Inc.
- Open
- 0.27
- Day high
- 0.31
- Day low
- 0.27
- Prev close
- 0.30
- Volume
- 2K
- Mkt cap
- $578149
- P/E (TTM)
- —
- EPS (TTM)
- —
- P/B
- 0.2
- P/S
- 0.0
- Yield
- —
- Per share
- —
Venus Concept Inc. (VERO) is a Healthcare company listed on NASDAQ. The stock is down 87% over the past year.
Venus Concept Inc. (VERO) financials & analyst ratings
Fundamentals (TTM)
Source: exchange market data + company filings. Figures are trailing-twelve-month or as most recently reported. For informational purposes only — not investment advice.
VERO earnings date, history & EPS estimates
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Nov 13, 2025 | $-3.61 | $-12.14 | -236.3% | $14M | -4.9% |
| Aug 14, 2025 | $-9.72 | $-8.03 | +17.4% | $16M | +8.4% |
| May 15, 2025 | $-14.08 | $-17.44 | -23.9% | $14M | -6.5% |
| Mar 31, 2025 | $-10.01 | $-11.23 | -12.2% | $16M | +12.6% |
| May 15, 2024 | $-1.53 | $-18.48 | -1107.8% | $17M | +2.9% |
| Nov 14, 2023 | $-1.51 | $-18.04 | -1094.7% | $18M | -21.5% |
| Aug 14, 2023 | $-1.54 | $-14.85 | -864.3% | $20M | -2.9% |
| May 15, 2023 | $-2.12 | $-20.35 | -859.9% | $21M | +10.5% |
| Nov 10, 2022 | $-19.79 | $-36.29 | -83.4% | $22M | -2.7% |
| Aug 12, 2022 | $-13.19 | $-26.39 | -100.1% | $27M | -9.9% |
| May 12, 2022 | $-16.49 | $-21.44 | -30.0% | $26M | -2.3% |
| Nov 12, 2021 | $-21.44 | $-29.69 | -38.5% | $25M | -22.8% |
VERO insider trading activity (SEC Form 4)
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| Mar 30, 2026 | Madryn Asset Management, LP10 percent owner | Buy | 37,500,000 | $0.04 |
| Mar 30, 2026 | Madryn Asset Management, LP10 percent owner | Buy | 335,000 | — |
| Mar 30, 2026 | Madryn Asset Management, LP10 percent owner | Buy | 0 | $13.76 |
| Mar 30, 2026 | Madryn Asset Management, LP10 percent owner | Buy | 37,187 | — |
| Mar 30, 2026 | Madryn Asset Management, LP10 percent owner | Buy | 1,500,000 | — |
| Mar 30, 2026 | Madryn Asset Management, LP10 percent owner | Buy | 1,575,810 | — |
| Mar 27, 2026 | EW Healthcare Partners, L.P.10 percent owner, other: See footnotes 3, 5, 7 and 8 | Sell | 1,500,000 | — |
| Mar 27, 2026 | EW Healthcare Partners, L.P.10 percent owner, other: See footnotes 3, 5, 7 and 8 | Sell | 1,575,810 | — |
| Mar 27, 2026 | EW Healthcare Partners, L.P.10 percent owner, other: See footnotes 3, 5, 7 and 8 | Sell | 0 | — |
| Oct 2, 2025 | Madryn Asset Management, LP10 percent owner | Buy | 545,335 | — |
| Jul 2, 2025 | Madryn Asset Management, LP10 percent owner | Buy | 0 | $264.00 |
| Jul 2, 2025 | Madryn Asset Management, LP10 percent owner | Buy | 325,651 | — |
| Apr 2, 2025 | Madryn Asset Management, LP10 percent owner | Buy | 379,311 | — |
| Apr 2, 2025 | Madryn Asset Management, LP10 percent owner | Buy | 0 | $264.00 |
| Dec 4, 2024 | Natale Anthonydirector | Sell | 42,768 | $0.31 |
Source: VERO SEC Form 4 filings, latest Mar 30, 2026. For informational purposes only — not investment advice.
See the full VERO insider & 13F page →Venus Concept Inc. company profile
Overview
Venus Concept Inc. (NASDAQ:VERO) is a Canadian medical technology company founded in 2002 and headquartered in Toronto. The company went public in 2017 and specializes in developing and commercializing minimally invasive and non-invasive medical aesthetic and hair restoration technologies. Venus Concept has undergone significant strategic restructuring in recent years, transitioning from a subscription-based lease model to prioritizing cash system sales while reducing its international footprint to focus primarily on the U.S. market.
Business
Venus Concept operates in the medical aesthetics industry, which encompasses non-surgical cosmetic treatments and procedures. This industry serves both medical professionals who perform aesthetic treatments and patients seeking cosmetic enhancements without traditional surgery. The company's business is divided into two main segments: Aesthetic Devices (Primary Business) - Approximately 85-90% of revenue: Venus Concept manufactures and sells energy-based medical devices that use various technologies like radiofrequency (RF), intense pulsed light (IPL), and magnetic field pulses to perform cosmetic treatments. Key products include Venus Legacy for skin tightening and cellulite reduction, Venus Versa for multi-application treatments including hair removal and skin resurfacing, Venus Viva for fractional skin resurfacing, and Venus Bliss for non-invasive fat reduction. These devices allow practitioners to offer treatments like skin tightening, wrinkle reduction, hair removal, body contouring, and skin rejuvenation without surgical procedures. Hair Restoration Technology (Venus Hair) - Approximately 10-15% of revenue: This segment includes the NeoGraft automated follicular unit extraction (FUE) system and the ARTAS iX robotic hair transplantation system. These technologies assist physicians in performing hair restoration procedures by automating the extraction of hair follicles from donor areas and their implantation into balding areas, making hair transplant procedures more efficient and less invasive than traditional methods. The company also provides consumables, service contracts, and training programs to support its installed device base, creating recurring revenue streams beyond the initial equipment sales.
Revenue model
Venus Concept generates revenue through multiple channels within its medical device business model. The company primarily makes money through direct equipment sales, where customers purchase devices outright for cash payments, and lease financing arrangements where customers make monthly payments over multi-year terms. The company has strategically shifted toward prioritizing cash sales, which now represent approximately 75-80% of U.S. system sales, up from historical levels around 60%. The paying customers are primarily dermatologists, plastic surgeons, medical spas, and aesthetic clinics who use these devices to provide cosmetic treatments to their patients. Revenue is also generated through consumables and service contracts, which provide ongoing income from the installed base of devices, and training and education programs for practitioners. Several factors significantly impact the company's margins and profitability. Positive margin drivers include the shift toward cash sales (which eliminates financing costs and credit risks), higher-margin consumables and service revenue, and the company's cost reduction initiatives that have streamlined operations. Negative margin pressures come from macroeconomic headwinds affecting discretionary medical spending, tighter credit markets that make equipment financing more difficult for customers, competitive pricing pressure in the aesthetic device market, and foreign exchange fluctuations given the company's international operations. The cyclical nature of the aesthetic industry, where demand can fluctuate based on consumer confidence and disposable income, also creates margin volatility. Additionally, the company's high fixed costs related to research and development, regulatory compliance, and manufacturing create operating leverage that amplifies both positive and negative revenue changes.
Competitive moat
Venus Concept operates in a competitive medical aesthetics market with limited sustainable competitive advantages. The company's primary moat elements include its established brand recognition in the aesthetic device space, particularly with products like Venus Legacy and Venus Versa, and its installed base of devices that generates recurring revenue through consumables and service contracts. The company also benefits from regulatory barriers, as FDA clearances and international certifications create some protection against new entrants. However, Venus Concept's moat is relatively weak compared to market leaders. The medical aesthetics device industry is highly competitive with numerous established players including Cynosure, Candela, Syneron, and others offering similar energy-based technologies. The company lacks significant technological differentiation, as most aesthetic devices utilize similar underlying technologies like radiofrequency and IPL. Venus Concept's small scale compared to industry leaders limits its ability to invest heavily in R&D or achieve significant cost advantages through manufacturing scale. The primary competitive threats come from larger, better-capitalized competitors who can outspend Venus Concept on product development, marketing, and customer acquisition. Additionally, the company faces potential disruption from emerging technologies in the aesthetics space and consolidation pressures as larger players acquire smaller competitors. The company's financial constraints and high debt levels further weaken its competitive position by limiting its ability to invest in growth initiatives or weather economic downturns. The shift toward cash sales, while improving financial metrics, also makes the company more vulnerable to economic cycles that affect customers' capital expenditure budgets.
Risks & safety
Venus Concept presents significant financial risk with a razor-thin margin of safety due to its precarious financial position and ongoing losses. • Cash burn and solvency risk: The company burned $6.3 million in operating cash flow in Q1 2025 with only $3.2 million in cash, creating immediate liquidity concerns. Total liabilities of $25.1 million exceed total assets of $17.9 million, indicating technical insolvency. • Debt burden: Despite recent debt reduction efforts, the company maintains a debt-to-equity ratio of 10.9x, indicating extreme leverage. While management has converted some debt to equity and restructured obligations, the remaining debt service requirements strain cash flow. • Valuation metrics: Trading at 0.87x book value appears attractive, but book value is negative due to liabilities exceeding assets. The company is unprofitable with negative EBITDA, making traditional valuation metrics less meaningful. • Other considerations: Revenue has declined 22% year-over-year in Q1 2025, continuing a multi-year downward trend. The company has no guidance and faces ongoing macroeconomic headwinds in its end markets. Recent equity raises and debt conversions provide some breathing room but at significant dilution to existing shareholders.
Recent development
Venus Concept has undergone substantial strategic restructuring over the past few years in response to financial pressures and market challenges. The company has pivoted from a subscription-based lease model to prioritizing cash system sales, with cash sales now representing 75-80% of U.S. system revenue compared to historical levels around 60%. This shift improves cash flow and reduces credit risk but makes the business more sensitive to economic cycles. The company has dramatically reduced its international footprint, exiting direct operations in multiple international markets and transitioning to a distributor-based model. This restructuring has reduced operating expenses but also contributed to declining revenues. Debt reduction initiatives have been a major focus, with the company reducing total debt by 47% to $39.7 million through debt-to-equity conversions and restructuring agreements with lenders. Leadership changes have been extensive, with the appointment of new executives including Kirk Gunhus as Chief Revenue Officer, Ross Portaro as EVP Commercial Strategy, and Melissa Kang as Chief Product Officer. The company has also been exploring strategic alternatives to maximize shareholder value, including potential partnerships or asset sales. On the product development front, Venus Concept is preparing to launch a new body contouring device in the second half of 2025, which management expects to drive meaningful market uptake. The company has also been developing the AI.ME robotics platform, though this program has been temporarily paused to focus resources on the new body device. The Venus Hair business, particularly the ARTAS robotic hair restoration system, has shown relative strength and the company is evaluating strategic opportunities for this segment.
VERO company profile · for informational purposes only — not investment advice.
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