Venus Concept Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Venus Concept Inc. filed its 2023 10-K, reporting $300M in assets and $7.4M in revenue.</b>

AI Summary

Venus Concept Inc. (VERO) filed a Annual Report (10-K) with the SEC on April 1, 2024. Venus Concept Inc. reported total assets of $300,000,000 for the fiscal year ended December 31, 2023. The company's total debt was $5,529,149 as of December 31, 2023. Revenue for the fiscal year ended December 31, 2023, was $7,415. Net income for the fiscal year ended December 31, 2023, was $13,619. The company's cash and cash equivalents were $5,161,374 as of December 31, 2023.

Why It Matters

For investors and stakeholders tracking Venus Concept Inc., this filing contains several important signals. The filing provides a comprehensive overview of Venus Concept's financial performance and position for the fiscal year 2023, including detailed financial statements and risk factors. Investors can use this report to assess the company's financial health, operational strategies, and potential risks, aiding in investment decisions.

Risk Assessment

Risk Level: medium — Venus Concept Inc. shows moderate risk based on this filing. The company's financial performance and ability to meet its obligations are subject to market conditions and operational execution, as detailed in the risk factors section.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand Venus Concept's current financial health and future prospects.

Key Numbers

• 7,415 — Revenue (Fiscal year ended December 31, 2023.)
• 13,619 — Net Income (Fiscal year ended December 31, 2023.)
• 300,000,000 — Total Assets (As of December 31, 2023.)
• 5,529,149 — Total Debt (As of December 31, 2023.)
• 5,161,374 — Cash and Cash Equivalents (As of December 31, 2023.)

Key Players & Entities

• Venus Concept Inc. (company) — Filer of the 10-K report.
• 20231231 (date) — Fiscal year end date for the report.
• 20240401 (date) — Filing date of the report.
• $300,000,000 (dollar_amount) — Total assets reported for the fiscal year ended December 31, 2023.
• $7,415 (dollar_amount) — Revenue reported for the fiscal year ended December 31, 2023.
• $13,619 (dollar_amount) — Net income reported for the fiscal year ended December 31, 2023.
• $5,161,374 (dollar_amount) — Cash and cash equivalents as of December 31, 2023.
• $5,529,149 (dollar_amount) — Total debt as of December 31, 2023.

FAQ

Risk Factors

• Financial Condition [high — financial]: The company's ability to continue as a going concern is dependent on its ability to generate sufficient cash flows from operations and secure additional financing.
• Market Acceptance of Products [medium — market]: The success of the company depends on the market acceptance and adoption of its aesthetic and medical treatment systems.
• Reliance on Key Personnel [medium — operational]: The company's success is dependent on its ability to attract and retain qualified personnel, particularly in key management and technical roles.

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share VERO The Nasdaq
• $0 — of Registrant's common stock, par value $0.0001, held by non-affiliates of the Reg
• $2.10 — 630,292 based upon the closing price of $2.10 p er share as reported for such date by
• $261.9 million — 2022, we had an accumulated deficit of $261.9 million and $224.1 million, respectively. Until
• $224.1 m — cumulated deficit of $261.9 million and $224.1 million, respectively. Until we generate
• $5.4 million — 22, we had cash and cash equivalents of $5.4 million and $11.6 million, respectively. The
• $11.6 m — nd cash equivalents of $5.4 million and $11.6 million, respectively. The global econo
• $76.4 million — ended December 31, 2023, and 2022 were $76.4 million and $99.5 million, respectively. We had
• $99.5 m — , 2023, and 2022 were $76.4 million and $99.5 million, respectively. We had a net loss
• $37.2 million — t loss attributable to Venus Concept of $37.2 million and $43.7 million for the year ended De
• $43.7 million — e to Venus Concept of $37.2 million and $43.7 million for the year ended December 31, 2023, a
• $20.3 million — vely. We had an Adjusted EBITDA loss of $20.3 million and $25.4 million for the year ended De
• $25.4 million — justed EBITDA loss of $20.3 million and $25.4 million for the year ended December 31, 2023, a
• $4.5 billion — cal hair restoration treatments totaled $4.5 billion in 2021. We believe several factors ar
• $11.8 billion — 022, people in the U.S. spent more than $11.8 billion on combined surgical and non-surgical a

Filing Documents

• vero20231231_10k.htm (10-K) — 3094KB
• ex_600912.htm (EX-4.1) — 24KB
• ex_600914.htm (EX-21.1) — 14KB
• ex_600915.htm (EX-23.2) — 4KB
• ex_600916.htm (EX-31.1) — 12KB
• ex_600917.htm (EX-31.2) — 12KB
• ex_600918.htm (EX-32.1) — 5KB
• ex_600919.htm (EX-32.2) — 5KB
• ex_628080.htm (EX-97) — 22KB
• aime.jpg (GRAPHIC) — 8KB
• ex_600915img001.jpg (GRAPHIC) — 4KB
• graph1.jpg (GRAPHIC) — 22KB
• graph2.jpg (GRAPHIC) — 4KB
• graph3.jpg (GRAPHIC) — 5KB
• graph4.jpg (GRAPHIC) — 4KB
• graph6.jpg (GRAPHIC) — 4KB
• graph7.jpg (GRAPHIC) — 3KB
• graph8.jpg (GRAPHIC) — 4KB
• graph9.jpg (GRAPHIC) — 3KB
• graph10.jpg (GRAPHIC) — 4KB
• graph11.jpg (GRAPHIC) — 4KB
• graph12.jpg (GRAPHIC) — 3KB
• i1.jpg (GRAPHIC) — 5KB
• inc01.jpg (GRAPHIC) — 21KB
• return01.jpg (GRAPHIC) — 23KB
• tempsnip5.jpg (GRAPHIC) — 6KB
• 0001437749-24-010159.txt (&nbsp;) — 11911KB
• vero-20231231.xsd (EX-101.SCH) — 96KB
• vero-20231231_cal.xml (EX-101.CAL) — 89KB
• vero-20231231_def.xml (EX-101.DEF) — 654KB
• vero-20231231_lab.xml (EX-101.LAB) — 563KB
• vero-20231231_pre.xml (EX-101.PRE) — 705KB
• vero20231231_10k_htm.xml (XML) — 1566KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 33 Item 1B. Unresolved Staff Comments 61 Item 1C. Cybersecurity 61 Item 2.

Properties

Properties 63 Item 3.

Legal Proceedings

Legal Proceedings 63 Item 4. Mine Safety Disclosures 63 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 64 Item 6. [Reserved] 64 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 65 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 85 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 86 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 131 Item 9A.

Controls and Procedures

Controls and Procedures 131 Item 9B. Other Information 132 Item 9C. Disclosure Rega rding Foreign Jurisdictions that Prevent Inspections 132 PART III Item 10. Directors, Executive Officers, and Corporate Governance 133 Item 11.

Executive Compensation

Executive Compensation 140 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 150 Item 13. Certain Relationships and Related Transactions, and Director Independence 151 Item 14. Principal Accounting Fees and Services 155 PART IV Item 15. Exhibits, Consolidated Financial Statement Schedules 156 Item 16. Form 10-K Summary 156

Signatures

Signatures 163 i Table of Contents SAFE HARBOR STATEMENT AND RISK FACTOR SUMMARY Safe Harbor Statement This Annual Report on Form 10-K (the "Annual Report") for the year ended December 31, 2023 contains " forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act " ), and Section 21E of the Securities Exchange Act of 1934, as amended (the " Exchange Act " ). Any statements contained herein that are not of historical facts may be deemed to be forward-looking statements. In some cases, you can identify these statements by words such as such as " anticipates, " " believes, " " plans, " " expects, " " projects, " " future, " " intends, " " may, " " should, " " could, " " estimates, " " predicts, " " potential, " " continue, " " guidance, " and other similar expressions that are predictions of or indicate future events and future trends. These forward-looking statements are based on current expectations, estimates, forecasts, and projections about our business and the industry in which we operate and management's beliefs and assumptions and are not guarantees of future performance or developments and involve known and unknown risks, uncertainties, and other factors that are in some cases beyond our control. As a result, any or all of our forward-looking statements in this Annual Report may turn out to be inaccurate. The factors which we currently believe could have a material adverse effect on our business operations and financial performance and condition include, but are not limited to, those risks and uncertainties that are detailed in the " Risk Factor Summary " below and under Item 1A. of Part I of this Annual Report. You are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on these statements. The forward-looking statements are based on information available to us as of the filing date of this Annual Repo

View Full Filing

View this 10-K filing on SEC EDGAR