Venus Concept Inc. reported a decline in financial performance for the second quarter of 2025, with total revenue of $15.7 million, down 5.4% from $16.6 million in the same period last year. For the first half of 2025, revenue decreased by 13.9% to $29.3 million compared to $34.1 million in the first half of 2024. The company attributed this decline to customer uncertainty regarding economic conditions, tighter lending practices affecting capital equipment sales, and the exit from unprofitable direct markets. The net loss for the second quarter was $11.7 million, a reduction from a loss of $19.9 million in the prior year, while the loss for the first half of 2025 was $24.1 million, down from $29.7 million in 2024.
In terms of operational metrics, Venus Concept delivered 236 systems in the second quarter of 2025, an increase from 222 systems in the same quarter of 2024. The company’s internal lease programs accounted for approximately 37% of system revenue in the second quarter, up from 34% in the previous year. However, the company is shifting its focus towards traditional cash sales to improve liquidity and reduce credit risk, which has resulted in a lower percentage of revenue from internal financing programs.
Significant strategic developments include the announcement of a $20 million cash transaction to sell the Venus Hair Business to Meta Healthcare Group, which is expected to close in the third quarter of 2025, subject to customary conditions. This move is part of the company's broader strategy to enhance shareholder value, which was initiated with a review of strategic alternatives in January 2024. The company also continues to face challenges related to supply chain disruptions, particularly due to geopolitical tensions affecting its manufacturing operations in Israel.
As of June 30, 2025, Venus Concept had cash, cash equivalents, and restricted cash totaling $4.9 million, a slight increase from $4.3 million at the end of 2024. The company reported total debt obligations of approximately $34.3 million, down from $39.7 million at the end of the previous year. Looking ahead, the company anticipates ongoing challenges due to economic volatility, including inflation and interest rate fluctuations, which may impact its operations and financial performance. The management remains focused on adapting to these conditions while pursuing opportunities for growth and profitability.
About Venus Concept Inc.
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