Venus Concept Inc. announced its financial results for the fourth quarter and full fiscal year ended December 31, 2024, on March 31, 2025. For Q4 2024, total revenue decreased 13% year-over-year to $15.8 million, driven by a 13% decline in both United States and International revenue.
The company's Q4 gross profit decreased 10% to $10.9 million, though gross margin improved to 69.1% from 66.5% in Q4 2023. Operating expenses decreased 11% to $17.6 million, resulting in an operating loss of $6.7 million, an improvement from $7.6 million in the prior year period. Net loss for Q4 was $8.0 million, or $11.23 per share.
For the full fiscal year 2024, total revenue decreased 15% to $64.8 million, with a net loss of $47.0 million, or $71.17 per share. As of December 31, 2024, the company had $4.3 million in cash and cash equivalents and total debt obligations of approximately $39.7 million. Venus Concept expects total revenue for the first quarter of 2025 to be at least $14.0 million, but did not provide full-year 2025 financial guidance due to ongoing strategic evaluations.
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