Venus Concept Inc. Q2 2024 10-Q Filed

TL;DR

Venus Concept Q2 10-Q: Assets $4.16K, Liabilities $7.41K. Former name Restoration Robotics.

AI Summary

Venus Concept Inc. filed its 10-Q for the period ending June 30, 2024, reporting total assets of $4,161 and total liabilities of $7,415. The company's former name was Restoration Robotics, Inc., with a name change effective November 21, 2017. The filing also mentions a secured overnight financing rate (SOFR) member with a reference date of December 9, 2025.

Why It Matters

This filing provides a snapshot of Venus Concept's financial health and operational status as of mid-2024, which is crucial for investors and stakeholders to assess the company's performance.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report with no immediate red flags or significant negative financial indicators presented.

Key Numbers

• $4,161 — Total Assets (Financial position as of June 30, 2024)
• $7,415 — Total Liabilities (Financial position as of June 30, 2024)
• 20240630 — Reporting Period End Date (Quarterly financial reporting)

Key Players & Entities

• Venus Concept Inc. (company) — Filer of the 10-Q
• Restoration Robotics, Inc. (company) — Former name of Venus Concept Inc.
• 20240630 (date) — End of reporting period
• 20240813 (date) — Filing date
• $4,161 (dollar_amount) — Total assets
• $7,415 (dollar_amount) — Total liabilities

FAQ

Key Financial Figures

• $0.0001 — nge on which registered Common Stock, $0.0001 par value per share VERO The Nasdaq
• $0 — 680 $ ( 5,542 ) *: Presented as $0 due to rounding. The accompanying note
• $367 — nche Private Placement, net of costs of $367 — 1,633 2024 Registered Direct Off
• $222 — ng shares and warrants, net of costs of $222 976 — Dividends from subsidiaries
• $238 — ge Financing By Madryn, net of costs of $238 2,000 — 2024 Convertible Notes iss
• $393 — ble Notes issued to EW, net of costs of $393 1,607 — Net cash provided by finan

Filing Documents

• vero20240630_10q.htm (10-Q) — 2136KB
• ex_678045.htm (EX-31.1) — 13KB
• ex_678046.htm (EX-31.2) — 14KB
• ex_678047.htm (EX-32.1) — 6KB
• ex_678048.htm (EX-32.2) — 6KB
• 0001437749-24-026155.txt ( ) — 10138KB
• vero-20240630.xsd (EX-101.SCH) — 94KB
• vero-20240630_cal.xml (EX-101.CAL) — 77KB
• vero-20240630_def.xml (EX-101.DEF) — 595KB
• vero-20240630_lab.xml (EX-101.LAB) — 498KB
• vero-20240630_pre.xml (EX-101.PRE) — 648KB
• vero20240630_10q_htm.xml (XML) — 1615KB

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 25 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 42 Item 4.

Controls and Procedures

Controls and Procedures 42 PART II. Other Information 43 Item 1.

Legal Proceedings

Legal Proceedings 43 Item 1A.

Risk Factors

Risk Factors 43 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3. Defaults Upon Senior Securities 45 Item 4. Mine Safety Disclosures 45 Item 5. Other Information 45 Item 6. Exhibits 45

Signatures

Signatures 46 i Table of Contents PART I

CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONDENSED CONSOLIDATED FINANCIAL STATEMENTS VENUS CONCEPT INC. Condensed Consolidated Balance Sheets (Unaudited) (in thousands, except share and per share data) June 30, December 31, 2024 2023 ASSETS CURRENT ASSETS: Cash and cash equivalents $ 5,732 $ 5,396 Accounts receivable, net of allowance of $ 4,161 and $ 7,415 as of June 30, 2024, and December 31, 2023, respectively 24,584 29,151 Inventories 19,782 23,072 Prepaid expenses 1,009 1,298 Advances to suppliers 4,540 5,604 Other current assets 1,256 1,925 Total current assets 56,903 66,446 LONG-TERM ASSETS: Long-term receivables, net 9,479 11,318 Deferred tax assets 1,195 1,032 Severance pay funds 421 573 Property and equipment, net 1,126 1,322 Operating right-of-use assets, net 3,907 4,517 Intangible assets 6,719 8,446 Total long-term assets 22,847 27,208 TOTAL ASSETS $ 79,750 $ 93,654 LIABILITIES AND STOCKHOLDERS ' EQUITY (DEFICIT) CURRENT LIABILITIES: Trade payables $ 7,189 9,038 Accrued expenses and other current liabilities 12,474 12,437 Note payable 2,289 — Current portion of long-term debt 1,297 4,155 Income taxes payable 626 366 Unearned interest income 1,198 1,468 Warranty accrual 1,139 1,029 Deferred revenues 894 1,076 Operating lease liabilities 1,432 1,590 Total current liabilities 28,538 31,159 LONG-TERM LIABILITIES: Long-term debt 42,402 70,790 Accrued severance pay 458 634 Deferred tax liabilities 2 15 Unearned interest revenue 438 671 Warranty accrual 271 334 Operating lease liabilities 2,613 3,162 Other long-term liabilities 664 338 Total long-term liabilities 46,848 75,944 TOTAL LIABILITIES 75,386 107,103 Commitments and Contingencies (Note 9) STOCKHOLDERS' EQUITY (DEFICIT) (Note 15): Common Stock, $ 0.0001 par value: 300,000,000 shares authorized as of June 30, 2024 and December 31, 2023; 7,255,277 and 5,529,149 issued and outstanding as of June 30, 2024, and D

View Full Filing

View this 10-Q filing on SEC EDGAR