Venus Concept Inc (NASDAQ: VERO) is a medical technology company that develops and sells aesthetic and hair restoration devices to physicians and aesthetic practitioners. Revenue comes from three streams: traditional outright equipment sales (61% of total system revenues in FY2024), an internal financing program structured as sales-type finance leases with an upfront fee and monthly payments typically over 36 months (26% of total system revenues in FY2024), and recurring product and service revenues. The company sells into the non-surgical aesthetics market, covering body contouring, skin treatment, and hair restoration, and markets the ARTAS iX robotic hair restoration system alongside the Venus Legacy and related device lines. Venus Concept has established a commercial presence in more than 60 countries, with 69% of global revenues denominated in U.S. dollars in FY2024. The company is transitioning international markets from direct operations to third-party distributors. It does not pay dividends and lists on the Nasdaq Capital Market under the symbol VERO.

Revenue model

Equipment sales (61% of system revenues FY2024) and internal financing program leases structured as sales-type finance leases (26% of system revenues FY2024), with the remainder from recurring product and service revenues. Internal financing uses a 36-month payment structure with an upfront down payment.

Products and services

ARTAS iX robotic hair restoration system for follicular unit extraction (FUE) surgery; Venus Legacy body contouring and skin treatment platform using (MP)2 and VariPulse technologies; next-generation Venus Legacy device in development combining (MP)2, VariPulse, real-time thermal feedback, ATC, and EMS technologies with handheld and hands-free applicators.

Customers and end markets

Physicians and aesthetic practitioners in the non-surgical and minimally invasive aesthetics market, including body contouring, skin treatment, and surgical hair restoration. Customers are capital equipment buyers whose purchasing decisions are sensitive to interest rates and third-party financing availability.

Value-chain role

Device manufacturer and direct seller of capital aesthetic equipment, with an internal financing arm that provides lease-to-own programs to reduce customer purchase barriers. Transitioning international distribution from direct sales to third-party distributors as of FY2024.

Geographic exposure

Commercial presence in more than 60 countries. 69% of global revenues denominated in U.S. dollars in FY2024 (65% in FY2023). Meaningful expenses incurred in New Israeli Shekels (20% of total expenses FY2024) and Canadian Dollars (18% of total expenses FY2024).

Competitors

FUT Strip Surgery providers, Manual FUE procedure providers, Propecia and prescription hair loss therapeutics manufacturers, Broader medical technology and aesthetic device companies with greater capital resources and sales infrastructure

Source: SEC 10-K, filed 2025-03-31

Industry: Surgical & Medical Instruments & Apparatus Peers: Forza Innovations Inc