Venus Concept Inc. reported a decline in financial performance for the third quarter of 2025, with total revenue decreasing by 8.2% to $13.8 million compared to $15.0 million in the same period last year. The company's revenue for the nine months ended September 30, 2025, also fell by 12.1% to $43.1 million from $49.1 million in 2024. The decrease in revenue was primarily attributed to lower sales in the Venus Hair business and a reduction in international market revenues, exacerbated by tighter third-party lending practices and customer uncertainty regarding economic conditions. The company recorded a net loss of $22.6 million for the quarter, compared to a loss of $9.3 million in the prior year, and a net loss of $46.7 million for the nine months, up from $39.0 million in 2024.
In terms of operational metrics, Venus Concept delivered 198 systems in the third quarter of 2025, down from 253 systems in the same quarter of 2024. The company’s internal lease programs accounted for approximately 27% of system revenue in the recent quarter, a slight increase from 23% in the previous year. The company has shifted its strategy to prioritize cash sales over internal financing to improve liquidity and reduce credit risk. The allowance for expected credit losses decreased to $2.1 million, representing 7.4% of gross outstanding accounts receivable, down from $4.1 million or 16.4% a year earlier.
Venus Concept has also made significant strategic moves, including the planned sale of its Venus Hair Business to Meta Healthcare Group for $20 million, which is expected to close pending regulatory approvals. This transaction is part of the company's broader strategy to maximize shareholder value, which the Board of Directors is currently reviewing. The company has been actively managing its operational costs, with total operating expenses rising to $18.3 million in the third quarter, up from $17.1 million in the prior year, driven by increased selling and marketing expenses.
Looking ahead, Venus Concept faces challenges from ongoing economic volatility, including inflation and rising interest rates, which have tightened credit markets and affected customer purchasing behavior. The company is focused on adapting to these challenges while continuing to explore strategic alternatives to enhance shareholder value. As of September 30, 2025, the company had cash, cash equivalents, and restricted cash of $5.9 million, an increase from $4.3 million at the end of 2024, but it continues to anticipate the need for additional capital to support its operations and growth initiatives.
About Venus Concept Inc.
Venus Concept Inc. develops and markets minimally invasive and non-invasive medical aesthetic and hair restoration technologies. Its core products include systems for skin tightening, wrinkle reduction, body contouring, cellulite treatment, and hair restoration, serving dermatology, plastic surgery, and aesthetic markets worldwide. The company leverages proprietary energy-based and robotic technologies to deliver effective, easy-to-use solutions that expand access to aesthetic procedures and improve clinical outcomes.
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