Venus Concept Reports Preliminary Revenue Results for Fourth Quarter 2020; Introduces Fiscal Year 2021 Revenue Guidance
“We continued to see improvements in the operating environment in our key markets in the fourth quarter as evidenced by the 22% to 27% growth quarter-over-quarter implied by our preliminary revenue range,” said
Preliminary Fourth Quarter 2020 Revenue Summary:
- Preliminary total GAAP revenue for the three months ended
December 31, 2020is expected to be in the range of $25.3 millionto $26.3 million, compared to total GAAP revenue of $31.9 millionfor the fourth quarter of 2019, representing a decrease of 24% to 21% year-over-year.
Preliminary Fiscal Year 2020 Revenue Summary:
- Preliminary total GAAP revenue for the twelve months ended
December 31, 2020is expected to be in the range of $77.5 millionto $78.5 million, compared to total GAAP revenue of $110.4 millionfor the twelve months ended December 31, 2019, representing a decrease of 37% to 36% year-over-year.
Fiscal Year 2021 Revenue Guidance:
- Assuming no significant and persistent resurgence of COVID-19 and related lockdown measures in key markets that would negatively impact the Company’s customer base, total revenue for the twelve months ending
December 31, 2021is expected to be in the range of $98.0 millionto $103.0 million, representing an increase of approximately 27% to 31% year-over-year, compared to the preliminary total GAAP revenue range for fiscal year 2020 of $77.5 millionto $78.5 million.
About Venus Concept
Cautionary Statement Regarding Forward-Looking Statements
This communication contains contains “forward-looking” statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “1933 Act”) and Section 21E of the Securities Exchange Act of 1934, as amended (the “1934 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 include, but are not limited to, statements about the expected synergies and cost savings; our financial performance; the growth in demand for our systems and other products; and general economic conditions, including the global economic impact of COVID-19, involve risks and uncertainties that may cause results to differ materially from those set forth in the statements. 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 communication may turn out to be inaccurate. Factors that could materially affect our business operations and financial performance and condition include, but are not limited to, those risks and uncertainties described under Part I Item 1A—“Risk Factors” in our most recent Annual Report on Form 10-K, Part II Item 1A—“Risk Factors” in our most recent Form 10-Q, and in other documents we may file with the
Investor Relations Contact:
Westwicke Partnerson behalf of Venus Concept Mike Piccinino, CFA VenusConceptIR@westwicke.com
Source: Venus Concept Inc.