Venus Concept Inc. announced its financial results for the first quarter ended March 31, 2025, on May 15, 2025, reporting total revenue of $13.6 million, a 21.9% decrease year-over-year. This decline was primarily driven by a 25.0% decrease in Products - Systems revenue and a 26.3% decrease in Lease revenue.
The company's gross profit decreased by 24.8% to $8.8 million, with gross margin at 64.2%. Operating expenses decreased by 5.8% to $18.3 million, but the loss from operations widened to $9.5 million from $7.8 million in Q1 2024. Net loss for the quarter was $12.4 million.
As of March 31, 2025, Venus Concept had cash and cash equivalents of $3.2 million, down from $4.3 million at the end of 2024, and cash used in operating activities increased to $6.3 million. The company stated that there is substantial doubt about its ability to continue as a going concern within 12 months. Despite this, management expects sequential revenue growth in Q2 2025 and targets achieving cash flow breakeven in the second half of 2025.
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