- Venus Concept Inc’s (NASDAQ:VERO) Q3 sales increased 19% Y/Y to $24.6 million, missing the consensus of $26.43 million. On a sequential basis, the sales declined around 5%.
- The increase was driven by strong U.S. revenue growth of 67% Y/Y to $13 million, which offset a 10% decrease in international revenue.
- International revenue was impacted by global supply disruptions related to COVID-19, which resulted in a backlog for customer purchase orders.
- The gross margin improved to 70.5% from 65.3% a year ago, primarily driven by higher sales of Venus consumables and improved revenue mix of system sales.
- The company posted a higher than expected EPS loss of $(0.18) than the analysts’ estimated $(0.12).
- FY21 Guidance: Venus Concept expects FY21 sales of $104 million – $107 million, compared with the Wall Street estimate of $105.41 million.
- Prior sales estimate were $102 million – $107 million, +28% to 35%, Y/Y.
- Price Action: VERO shares are down 8.38% at $1.75 during the market session on the last check Friday.
JMP Securities Initiates Coverage On Outbrain with Market Outperform Rating, Announces Price Target of $32
JMP Securities analyst Ronald Josey initiates coverage on Outbrain (NASDAQ:OB) with a Market Outperform rating and announces Price Target of $32.
