Venus Concept Inc (VERO)

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Venus Concept Stock Trades Higher After Lifting FY21 Sales Outlook
11:19 am ET August 13, 2021 (Benzinga) Print
Venus Concept Inc's (NASDAQ: VERO) Q2 sales increased 52% Y/Y to $25.8 million, beating the consensus of $24.26 million.
The increase by product category was driven by a 71% increase in lease revenue, a 29% increase in systems revenue, an 86% increase in products revenue, and a 5% increase in services revenue.
The gross margin improved to 72.5% from 70.0%, primarily driven by higher sales of Venus consumables and improved revenue mix of system sales sold under our subscription program, tracing to Venus Bliss.
Operating income increased 117% Y/Y to $1.5 million compared to a loss of $(8.8) million a year ago.
EPS of $0.01 improved from a loss of $(0.39) and ahead of analyst estimate loss of $(0.12).
FY21 Guidance: Venus expects sales of $102 million - $107 million, representing a 31% - 37% Y/Y increase, better than the Wall Street estimate of $103.24 million.
Prior sales estimate were $100 million - $105 million, +28% to 35%, Y/Y.
Price Action: VERO shares are up 1.91% at $2.13 during the market session on the last check Friday.