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Venus Concept Inc. (referred to herein, together with its subsidiaries unless the context otherwise denotes, as the Company, Venus Concept, us, our, or we ) is an innovative global medical technology company that develops, commercializes and delivers minimally invasive and non-invasive medical aesthetic and hair restoration technologies and related services. Our systems have been designed on co…
The business is unprofitable at the operating level (-41.93% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 15.1% YoY. Margins deteriorated 4.9pp alongside, both lines moving the wrong way.
ROIC dropped from -28.01% to -35.51%, capital efficiency is deteriorating. Negative free cash flow of -$11M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
$59M
▼ -15.1% YoY
Net Income (TTM)
-$55M
▼ -26.2% YoY
Op. Margin
-59.00%
▼ -4.9pp YoY
ROIC
-68.19%
▼ -7.5pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
-$21M
▲ +13.8% YoY
Op. Cash Flow (TTM)
-$20M
▲ +13.9% YoY
Net Debt
$28M
Cash & Equiv.
$4M
5Y CAGR: -10.1%
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