Brief: Venus Concept Announces Debt Restructuring, Preliminary Q3 Results And Updates FY 2023 Guidance

Venus Concept

05/10/2023 12:39

Oct 5 (Reuters) - Venus Concept Inc  VERO.O :
    * . ANNOUNCES DEBT RESTRUCTURING, PRELIMINARY THIRD QUARTER
2023
REVENUE RESULTS AND UPDATES FISCAL YEAR 2023 REVENUE GUIDANCE
    * . ANNOUNCES DEBT RESTRUCTURING, PRELIMINARY THIRD QUARTER
2023
REVENUE RESULTS AND UPDATES FISCAL YEAR 2023 REVENUE GUIDANCE
    * PRELIMINARY TOTAL REVENUE FOR Q3 OF 2023 IS EXPECTED TO BE
IN
RANGE OF $17.0 MILLION TO $18.0 MILLION
    * NOW EXPECTS TOTAL REVENUE FOR TWELVE MONTHS ENDING
DECEMBER 31,
2023 TO BE IN RANGE OF $80.0 MILLION TO $82.0 MILLION
    * DEBT RESTRUCTURING TO STRENGTHEN CAPITAL STRUCTURE,
IMPROVING
LIQUIDITY POSITION, ENHANCING PATH TO CASHFLOW BREAKEVEN IN H2
2024
    * PRIMARY OBJECTIVE FOR 2023 HAS BEEN TO REDUCE CASH BURN BY
50%
OR MORE YEAR OVER YEAR, WHICH WE ARE STILL ON TRACK TO ACHIEVE
    * Q3 REVENUE VIEW $21.4 MILLION -- REFINITIV IBES DATA
    * FY2023 REVENUE VIEW $90.5 MILLION -- REFINITIV IBES DATA

Source text for Eikon:  ID:nGNX8xxcWP 
Further company coverage:  VERO.O 

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