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Venus Concept Sees Prelim. Q4 Adj. Sales $32.4M-$33.3M, Sees Prelim. FY19 Adj. Sales $122.6M-$123.5M; Sees FY20 Sales $134M-$140M

Preliminary Fourth Quarter 2019 Revenue Summary: Preliminary total GAAP revenue for the fourth quarter of 2019 is expected to be in the range of $31.3 million to $32.0 million, compared to total GAAP revenue of $28.6

Benzinga · 01/13/2020 12:03

Preliminary Fourth Quarter 2019 Revenue Summary:

  • Preliminary total GAAP revenue for the fourth quarter of 2019 is expected to be in the range of $31.3 million to $32.0 million, compared to total GAAP revenue of $28.6 million in fourth quarter 2018, an increase of 9% to 12% year-over-year. The expected range of preliminary total GAAP revenue for the fourth quarter of 2019 includes the anticipated revenue of Venus Concept Inc. (formerly Restoration Robotics, Inc.) from November 8, 2019 to December 31, 2019 in the range of approximately $2.6 million to $2.7 million.
  • Preliminary total revenue on a pro-forma basis, giving effect to the merger as if it took place on January 1, 2018,  for the fourth quarter of 2019 is expected to be in the range of $32.4 million to $33.3 million, compared to pro-forma total revenue of $35.3 million in fourth quarter 2018, a decrease of 6% to 8% year-over-year. Preliminary total revenue results, on a pro-forma basis, for the fourth quarter of 2019 are expected to be comprised of:
    • Venus Concept Ltd. (legacy Venus Concept) revenue in the range of $28.7 million to $29.3 million, compared to $28.6 million in the fourth quarter of 2018, an increase of approximately 0% to 2% year-over-year.
    • Venus Concept Inc. (formerly Restoration Robotics, Inc.) revenue in the range of $3.7 million to $4.0 million, compared to $6.7 million in the fourth quarter of 2018, a decrease of approximately 41% to 44% year-over-year.

Preliminary Fiscal Year 2019 Revenue Summary:

  • Preliminary total GAAP revenue for the twelve months ended December 31, 2019 is expected to be in the range of $109.8 million to $110.6 million, compared to total GAAP revenue of $102.6 million in 2018, an increase of 7% to 8% year-over-year. The expected range of preliminary total GAAP revenue for the twelve months ended December 31, 2019 includes the anticipated revenue of Venus Concept Inc. (formerly Restoration Robotics, Inc.) from November 8, 2019 to December 31, 2019 in the range of approximately $2.6 million to $2.7 million.
  • Preliminary total revenue on a pro-forma basis, giving effect to the merger as if it took place on January 1, 2018, for the twelve months ended December 31, 2019 is expected to be in the range of $122.6 million to $123.5 million, compared to pro-forma total revenue of $124.6 million in 2018, a decrease of approximately 1% to 2% year-over-year. Preliminary pro-forma total revenue results for the twelve months ended December 31, 2019 are expected to be comprised of:
    • Venus Concept Ltd. (legacy Venus Concept) revenue in the range of $107.2 million to $107.9 million, compared to $102.6 million in 2018, an increase of approximately 5% year-over-year.
    • Venus Concept Inc. (formerly Restoration Robotics, Inc.) revenue in the range of $15.4 million to $15.6 million, compared to $22.0 million in 2018, a decrease of approximately 29% to 30% year-over-year.

Fiscal Year 2020 Revenue Guidance:

  • Total revenue for the twelve months ended December 31, 2020 is expected to be in the range of $134.0 million to $140.0 million. The Company’s fiscal year 2020 revenue guidance range represents projected growth of approximately 9% to 13% year-over-year as compared to the preliminary total revenue range, on a pro-forma basis, of $122.6 million to $123.5 million for the twelve months ended December 31, 2019.