Venus Concept

VERO

Medical - Devices · Healthcare

Winston Score

Winston is worried

Weak fundamentals across most pillars.

Data as of Aug 23, 2026 · filings through Sep 30, 2025

How the score breaks down

Quality

Mixed

Growth

Weak

Cash Flow

Weak

Stability

Weak

Valuation

Data not available

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Winston Score History

The full picture

Venus Concept makes medical devices used by doctors and clinics to improve how skin looks and feels. Its machines perform treatments like hair removal, skin tightening, body contouring, and scar reduction without surgery. The company sells to dermatologists, plastic surgeons, and medical spas around the world.

Venus Concept makes money by selling its devices outright and through a subscription model where clinics pay monthly fees to use the equipment. It operates in North America, Europe, Asia-Pacific, and other international markets, and its subscription approach helps create recurring revenue, which is somewhat unusual in the medical device industry. However, the company is currently losing a significant amount of money relative to its revenue, with deeply negative operating margins, and its main challenge is reaching profitability while competing against larger, better-funded medical aesthetics companies like Cutera and InMode.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

-8.2% YoY

YoY Growth Rate

Revenue declining

EPS Growth

-848.4% YoY

YoY Growth Rate

Earnings declining

Insider Activity

12.6%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

~9 months

$15M cash & investments

Quarterly Free Cash Flow

→ Burn rate stable

Short runway — potential dilution ahead through share issuance

Cash watch

Venus Concept has less than a year of cash at its current burn rate. Growth investors should watch for potential share dilution from future fundraising — that directly reduces your ownership.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

64.0%

Premium pricing power — 64.0% gross margin

Profit after running costs

Operating Margin

-68.9%

Losing money on operations — -68.9%

Return on the money invested

ROCE

-102.2%

Weak — -102.2% return on capital

Negative ROIC means the business is losing money on every dollar invested in it.

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Growth

Sales growth

Sales YoY

-12.4%

Shrinking sales (-12.4% YoY)

Profit growth

EPS YoY

N/A

—

Data not available

How steady the profit is

EPS Consistency

4/8 quarters

Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash

Cash Conversion

N/A

—

Data not available

Spare cash per sale

FCF Margin

-35.2%

Burning cash (-35.2%)

Free cash flow is negative. They are burning cash, not generating it.

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Stability

What it owes vs what it owns

Debt / Equity

11.72

Heavy debt load (11.72)

Covers its interest

Interest Cover

N/A

Data not available

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Valuation

Price vs profit

P/E Ratio (TTM)

N/M

no trend

Negative earnings — P/E not meaningful

Cheaper or dearer next year

P/E vs Forward

N/A

not available

Data not available

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Dividends

Not applicable for this business.

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