Venus Concept Inc. (NASDAQ:VERO) reported an earnings per share (EPS) of -$1.28, missing the estimated EPS of -$1.20.
The company’s revenue for the quarter was $9.92 million, significantly below the estimated $17.28 million.
VERO reported a net loss of about $9.3 million, with negative operating income and EBITDA of $7.16 million.
Venus Concept Inc. (NASDAQ:VERO) is a prominent player in the global medical aesthetic technology sector. The company specializes in developing and commercializing innovative technologies for non-invasive aesthetic treatments. Despite its strong market presence, VERO faces competition from other companies in the medical aesthetics industry, which can impact its financial performance.
On November 13, 2024, VERO reported its earnings for the third quarter of the fiscal year. The company revealed an earnings per share (EPS) of -$1.28, slightly missing the estimated EPS of -$1.20. This indicates that the company’s profitability was lower than analysts had anticipated, which can affect investor confidence.
VERO’s actual revenue for the quarter was approximately $9.92 million, significantly below the estimated $17.28 million. This shortfall in revenue suggests challenges in meeting sales expectations, which could be due to various factors such as market competition or changes in consumer demand.
During the Q3 2024 earnings conference call, key company leaders, including CEO Rajiv De Silva, discussed the financial performance and strategic initiatives. Despite generating a gross profit of $9.92 million, VERO reported a net loss of about $9.3 million, highlighting the company’s struggle to achieve profitability.
The company’s operating income and EBITDA were both negative at $7.16 million, reflecting ongoing financial challenges. Additionally, VERO’s income before tax was a loss of approximately $9.33 million, with an income tax expense of $31,000. These figures underscore the need for strategic adjustments to improve financial outcomes.
