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Venus Concept Inc. (HAIR)

Income Statement

Standardized | As Reported Annual | Quarterly | TTM
 
In millions, except per share itemsDec-31-22Dec-31-21Dec-31-20Dec-31-19Dec-31-18Dec-31-17Dec-31-16Dec-31-15
   10-K10-K10-K10-K/A10-K10-K10-K10-K
Revenues:  
    Non-US  47.454.244.0     
    Service  3.04.24.8     
    Product  13.313.210.9     
    Leases  35.345.133.4     
    Other  0.5       
Total revenues  99.5105.678.0110.4102.621.315.617.2
            Revenue growth   [+]-5.8%35.4%-29.3%7.6%381.8%36.5%-9.5% 
Cost of goods sold  33.531.526.633.823.312.210.412.5
Gross profit  66.074.151.476.779.49.15.24.7
            Gross margin  66.3%70.2%65.9%69.4%77.3%42.9%33.1%27.4%
Selling, general and administrative   [+]89.982.084.198.964.719.316.617.8
Research and development  11.09.67.88.07.07.17.57.4
Other operating expenses  -1.5-3.3-2.2 10.9   
EBITDA   [+]-28.9-9.3-33.4-28.2-2.0-16.7-18.3-19.7
            EBITDA margin  -29.1%-8.8%-42.8%-25.6%-2.0%-78.5%-117.2%-114.1%
Depreciation  1.01.41.32.01.30.60.70.9
EBITA  -29.9-10.7-34.7-30.3-3.4-17.3-18.9-20.5
            EBITA margin  -30.1%-10.2%-44.5%-27.4%-3.3%-81.1%-121.4%-119.1%
Amortization of intangibles  3.53.53.5     
EBIT   [+]-33.4-14.2-38.2-30.3-3.4-17.3-18.9-20.5
            EBIT margin  -33.6%-13.4%-49.0%-27.4%-3.3%-81.1%-121.4%-119.1%
Non-recurring items   [+]1.50.629.7     
Interest expense  4.65.08.37.55.42.02.52.9
Other income (expense), net   [+]-4.9-3.1-5.4-2.6-3.31.5-0.40.4
Pre-tax income  -44.3-22.8-81.6-40.4-12.0-17.8-21.8-23.0
Income taxes  -0.7-0.71.21.92.20.10.00.0
            Tax rate  1.6%3.1%    0.0%0.0%
Minority interest  0.10.9-1.1-1.70.8   
Net income  -43.7-23.0-85.3-40.6-15.0-17.8-21.8-23.0
            Net margin  -43.9%-21.8%-109.3%-36.8%-14.6%-83.8%-140.0%-133.3%
   
Basic EPS   [+]($0.66)($0.42)($2.33)($4.77)($3.16)($2.42)($13.54)($14.70)
Diluted EPS   [+]($0.66)($0.42)($2.33)($4.77)($3.16)($2.42)($13.54)($14.70)
   
Shares outstanding (basic)   [+]66.054.536.68.54.77.41.61.6
Shares outstanding (diluted)   [+]66.054.536.68.54.77.41.61.6
   
EBIT is a non-GAAP figure that excludes all non-recurring expenses: restructuring costs, asset impairments, IPR&D writeoffs, and other unusual charges.  

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