VERO - Earnings call transcript Q1 2022

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Please standby. Good day, ladies and gentlemen and welcome to the First Quarter 2022 Earnings Conference Call for Venus Concept Inc. At this time, all participants have been placed on a listen-only mode. Please note, that this conference call is being recorded and the recording will be available on the company's website for replay.

Before we begin, I would like to remind everyone that our remarks and responses to your questions today may contain forward-look statements that are based on the current expectations of management and involve inherent risks and uncertainties that could cause actual results to differ materially from those indicated, including those identified in the Risk Factors section of our most recent 10-Q our annual report on Form 10-K to be filed with the Securities and Exchange Commission. updated SEC to our which be filings in website. may the with are factors from time time our Such available on forward-looking otherwise. We or of to obligation information, statements our new or undertake result as events publicly future a no revise update also to certain will not that financial accounting accepted references with accordance in generally include principles call measures are This calculated or GAAP. these non-GAAP financial to measures. refer generally We in measures our those website. financial press portion GAAP measures calculated comparable and non-GAAP most with Relations presented of today Reconciliations are issued the available earnings release Investor on accordance in to the our of I turn Mr. now call over would to like to the Serafino, Dom Officer Concept. Venus Chief Executive of sir. go ahead, Please

Dom Serafino

very and quarter chief President by Venus you our sales. Thank earnings Ross welcome of officer global joined operator Concept's of Della Domenic Portaro, today everyone financial first our Penna, to conference much and XXXX call. I'm

trends. brief with the in a prepared our results overview what with And balance progress the in results remarks. start areas will priorities. for then I provide of quarterly call your in revenue reported million of and our a our our key Dominic in will progress the QX the get international operating excluding let's of review line and GAAP mind, months. revenue depth increased growth QX summary the on our year-over-year. and our customer commercial in as with was in for XX% will a procedure we our first which customers overall and the increase XX% up and of full by start And our release, program I me vehicle in agenda business you disposable total The financial we guidance XX% in review exited with grafter we the year-over-year U.S. in XXXX, then up period performance $XX.X Ross an related overview in and revenue driven in revenue will this our a sheet then that year from increased will reaffirmed discontinued With year sales questions. provide first period. cover of quarter revenue more base during revenue XX% Sales press of today's in We year-over-year XX% XXXX. will business provide Total an open growth recent of started prior subscription Let in quarter. our we year-over-year update

recent Importantly, as we by was which we in revenue commercial franchises key strategy, discussed driven investor the in QX growth of calls. our prioritize part

our with VeroGrafters been Max excluding quarter. program The growth XX% demand launch sales market has than our products drove response workstation trends early differentiated contouring Bliss of of sales first to focus the the procedure notable Specifically, early and Salesforce and of in more With revenue, fueled strong execution in body in March. in franchise Max and Bliss this our our body respect in year-over-year initial robotic QX. iEX XX% by highly to robotic continued sales systems, of and artists growth QX clearance and for franchises commercial increased by

Our while four respective pandemic. installs from continues exceeded APAC, aesthetic real QX APAC for previous the in medical strong quarter to QX and years region installed our at the varying base. of of in growth average pace time activity. was QX. customers portions restoration America enough large visibility IoT records, of recovery see in hair Latin artists of part slower Procedure not of a this the reflect as after to well. to improvement trends North our procedures But data improving have in uses the of device trends quarter America cover the similar -- world usage depending we Outside loss levels and in trends continue into first patient’s US system XXXX. the in of on the reflect for EMEA gives This act increase were measured QX us did to procedures

to in QX. returned levels utilization to we hope So normalize see

highlights to the Turning brief the of quarter significant for development, made Overall, product regulatory new recent a clearances, validation, months. first in progress update and on operating we've in and areas clinical commercialization.

efficiency output. more pleased abdomen body started which single venous energy for new continues to new products clearance the This for RF in and systems expanded received XXX the increase the even clinical output maximum treatments, expand K and non-invasive in an clearance side, venous XX%. increasing January, to and commercial Bliss indication efforts contouring provide and Max will of the our versatility, believe of with and for indication to expands clearance In announce and flanks, Bliss for now by addition March. April, the results ultimately XXX-K Bliss to increases an progress, and of further the its we're include body energy we workstations and revenue the utility the of new areas Max offers use stronger we receipt customers. for in market and lipolysis Our flexibility RF list and the our to use initial in physicians our backhand Max portfolio by

the AIme, FDA resurfacing XXX(k) for our continued to development, announced advance submission. Finally, tissue recent period strategy and of progress to We robotic skin excision look we of aesthetic non-surgical of March submission And medical XX. we've for for general the clinical made applications. our indication technology months our on with forward are proud review we regulatory during in the platform engage

innovation limited later that year. for AIme to the one clinical market device this our goal progress the the for it robotic to in currently a has Safety is and platform the believe fourth that designed by bringing of strategy of And support important AIme we platform AIme XXXX. the prospects different performed, this compelling. parallel position expect continue for look forward technology to the unique to very to disruptive closer has treatments quarter aesthetic clinical market U.S. the and the just any remember in begin this from level been the aesthetic skin are towards changing effective a XXX(k) and progress true begin general clinicians, for it of of resurfacing, commercializing to via to numerous also release cost to way indications this available is beginning extremely differentiated procedures in be and technology face. brings will to continue introducing to upgrade of secure are later non-surgical submission that platform, specific for bring of to predictability. we Speed process a us path a medical skin we step And that The new The our potential It's AIme applications We made products a -- indications In to for submitting we have today. to excision AIme clinical making and

announced clinical our Clinical We we IDE the in of discussed our enrolling treating our guidance support it who annual are patients and with balance Penna, and first of cheeks, been the specific XXXX turn sheet, the pursuing Della safety expand AIme and an will Investigation quarter conditions release. financial As patients long detailed the indications review market four and study efficacy which will enhance to me wrinkles. for discuss our using calls, evaluating will treatment XX the has recently on and This submissions treatment addressable let With in opportunity that wrinkles further provide over study. press on of growth FDA for reaffirmed our a clinical term sets our are severe busy and today's financial and profile. the moderate study to prior facial our of first this call Domenic treated that, results Dominic? we

Domenic Penna

Thank you Dom.

basis. change XX.X% first related million Profit on of of GAAP in detailed to R&D and of reported compared revenue with or by Gross million Dom's or margin an was expenses, I costs increase the the margin the an doubt driven prior the our or to general of period. XXXX shipping financial X% driven million focus growth $XX.X the and across first The review increase $X begin was marketing in to for expenses. X% of of rest expenses $X.X an of $X.X Gross sales for and total million administrative increased changes quarter company's prepared higher XX% the review $XX.X in and results, first results the a increase by my XXXX. in offset and Given primarily operating XX% gross in P&L $X.X of quarter our change The partially compared expenses performance on or unless by of operating all was are the will million a Total remarks on million. will items year-over-year quarter in otherwise in million, XXXX. year compared avoidance revenue noted, XX.X% of mix of in a basis, $XX.X to were

GAAP Non key $XXX First regulatory quarter million loss GAAP our operating commercial full increased in Total the the million attributable or in $X.X expenses making we clinical expect our to million the range million Net initiatives $XX operating first and loss or million quarter strategic XXXX. for and our Max, adjusted the expense EBITDA to growth $X.X stockholders Bliss loss operating year $X.X AIme, investments of support $X.X XX% to X% million. periods. programs to $X.X growth to including to was X.X we're million. launch year-over-year compared reflects continue the million XXXX of of for development, increased to

have adjusted loss GAAP reminder, earnings or provided in a our full reconciliation to press net a we As release. loss EBITDA

to challenges. suppliers advances ability in XXXX meet part to This second of debt XXXX, initiative for quarter. cash equivalents $XX.X increase XX $XX.X as to million is the obligations approximately XXXX. working balance we given related the prioritize The result to which Note, chain and cash respectively as supply related our to sheet and of the incremental strategic invested total ongoing increase to December customer in initiative. had of our $XX.X expected year-over-year Turning compared of is cash strategic investments and as in this XX the inventory part as million $XX.X in company of directly move million initiatives realities cash in the to capital of million March demand cash investment through operations for of additional

trends we of the However, capital quarter we improving And XXXX. working positive flow continue continue expect as through cash we to move expect to fourth in XXXX.

in to total compared XX increase an $XXX.X XXX months $XXX XXXX range for December XX million to of year-over-year, continues revenue the million, XX% the press our guidance XX% expect review representing XX December of our of ended Turning company approximately XXXX. to the release, year full detailed guidance, our revenue period. The a total ending to we XX-months reaffirmed XXXX in the as for of revenue for million

While positivity target improvement, continues deliver achieving guidance we XXXX. are year profitability material the providing our including for full another formal in of that cash year a flow we XXXX, not assume profitability outlook fourth the quarter of to of

to XXXX profitability help the For modeling like following purposes, offer targets. would considerations our underlying investors we understand driving to assumptions, the

expect inflationary headwinds COGs to our range First, gross see driven the we XX%, to as be but to margins, of pressure XX% improvement our in XXXX. gross expect by we mix, in margins continued in also

we Second, in management operating XXXX. to drive expense continued leverage expect notable

expenses $XXX year-over-year, Specifically, to range growth year. growth to million XX% compared $XX this of XX% to revenue we GAAP XX% in representing operating total the million, of expect our of range XX% to

a million, stock million. and bear in in average to years we approximately expect two when and There Third, our $X continue $X.X to approximately expect we expense Fourth, revenue to expect we mind approximately of $X.X million. noncash be full are shares items expectations. additional non-cash interest growth evaluating our weighted our be XXXX outstanding comp of $XX to million

our continue to of expected do given in and ramp reduction in Max by a stronger our company the driver Ma. the body fueled commercialization expect Bliss the franchise U.S. growth markets, of from of Bliss Bliss growth total franchise and the over First, to of our XXXX and this We half body expect OUS recent timing second to Venus be Venus material we of our year, be our commercialization

expecting focused growth, update guidance XXXX material community assume commercial to revenue not contributions XXXX following that fair intend commercial getting AIme receipt Second, total and over or as receipt ensuring me me we execute investment our QX a potential limited the well will on and to priorities. initial to possible the for With the Ross on XXXX. total release to highly our clearance impact of of are from differentiated does turn that AIme strategy the fiscal let expected our of an and we XXXX contributions that, contributor, this related clearance, AIme While prepared be to commercial not what on our and as regulatory in update company the for to of XXX(k) call to the following material robotic soon of materially highly is assume technology is growth it year beyond. Ross? release be a We progress

Ross Portaro

Thanks, most initiatives. with pleased in Tom. execution We're QX, commercial key with our

to proven industry that innovation, best are attract in attracted and our body in to product We continue the growth aesthetic new and leaders key drivers hair. industry

As mentioned are the senior finishing the at at execution level, recently, we most I field we started our level. and management

continue expand driver and body XX% KOL with earlier, with was growth mentioned U.S. investment the feedback we the to franchise, addresses continue muscle. The skin base launch initial a our that body to from on As growth Max fat install key positive. platform Bliss has been based Bliss the acceptance XX% growth expect rewarded in only we initial our our early was in the of of with the very our market sales. and and Max we

encouraged truly first as ARTAS Dr. call continue muscle both to systems. generation Max given Dom restoration With a quote. It NeoGraft expert strong the of another leading offers the we by in synergistic attractive closing from improved just regenerative consumable Bliss response technologies that per a and outcomes cost a industry. to global especially practice. Scott with including practitioners, with had his the quarter are represents aesthetics, to business that, hair body addition stimulation, treatment. practice I sell and Dom? fat Dr. of lack and highly tightening and changed the pioneer economics turn I'll contouring versus The and for Garish, and back remarks. system regarded medicine our Garrison noted We

Domenic Penna

to improving closing, In trends expect our growth confident year we XXXX. outlook Ross. full continue move Thanks, through as remain in we and

and assume total related Our XXXX comes and franchises systems hair than Max more from products systems and total Venus includes Bliss revenue body our NeoGraft that revenue which related and XX% procedure of restoration growth revenue and products. two ARTAS franchise, year-over-year our to franchise the growth which key outlooks for Bliss our procedure continues specifically includes revenue to our

revenue. sales to Importantly, total growth total expect company growth revenue growth related procedure we to from accretive margins. contributions two be continued and the these in our franchises in of fuel And to gross

XXXX outlook of assumes six Our from Legacy of in Venus our lines, contributions our contributions also our portions growth product business of the business of total from portion products, medical to Venus the a commercialized the the dedicated Revenue including outside esthetics body Versa. two franchise. aesthetic includes largest This

demonstrated durable expect mid we’ll questions. year-over-year to profile in open digits to in years. the products reflecting these XXXX, of growth stable increase continue call continuation Operator. the single operator, We high to that of the sales a in With recent to now

Operator

your question. [Operator proceed with question Instructions] with Thibault of line from Please Our BTIG. the first Marie comes

Marie Thibault

of evening, questions. indications bliss on took users? ask was Was that surprise. that planned to that decision Hi, quick of It my for two what Congrats and was that the Very mean by the good something taking requested expanded that early driving was see. the expansion I'll nice What thank ones here. total by Max. market? you us and addressable for does for kind

Dom Serafino

clearance really be was particular the nice going in it this XX-day is This base wanted pleased the something AIme, with to were able evening. us market. that cycle. with clearance, to our a real gives confidence through able that, was about quite to Marie good in even we What were client FDA and We this that achieve process

marketing zones in and be the in to used in are out that in big materials day day to additional add is body a the field able the help. so And

So submission. we're of market. us the hopefully that pleased choose to with type FDA And submissions help our the other and will that XX-day turnaround products in from turnaround we to

Marie Thibault

Sure, very good.

addressed. seeing of some a ground? that Would OUS guess be outlook you Would say question then of what Okay. are of our the now the that. of for May, And on the should some kind headwinds, terms here follow we're on year? in you then to a you say? baking of And I headwinds FX we here rest those you up into are two-part starting quick that on what in the improve maybe

Dom Serafino

want So, one the one to you and first Ross take answer GDP you second the well. can as

Ross Portaro

direct Yes, factor portfolio absolutely. EMEA, and Concept And, strong. In that's you really becoming the certainly three it product less of talking remain ARTAS Latham, strong and EMEA, and have markets existing a OUS, from have a break of less each core pandemic a APAC. We're to into certainly day, the presence. Venus and we standpoint,

in APAC in very headwind, pandemic based as product business market in limitations, And and chain we're have bit from and know any then and issues. in certainly far at on our that but marketplace. very, Kong less of there with let's optimistic. that is is looking our don't a As are or certainly, pandemic, risk Mexico, in Hong just all direct little supply We we the we in that And China, portfolio, we're May outside certainly, June. type any say what

I'll As FX, far that DDP. as to leave

Domenic Penna

Marie. Hey

pretty much our So for QX flat. was FX actually

I some major effects on have It's for don't offsets quarter coin the a a be it. don't time. to is quarter. time in but are Usually between Canadian the been currencies the do reported the between that plus currency found it's a reported ones we dollar, a and hedge huge the shekel currencies, I we natural tends not there other manageable. currencies, typically but individual we've dollar. think think don't hedge we've to minus. first kind We long of their we movements Israeli or manage anything -- that down the are our Yes, And four those or -- two that between swings Euro, movements the tentative the U.S. seeing Euros, we're there seem

haven't strong don't any a very headwinds difficult hedge a really thing project to am those strategy to we so seen nor have we And but projecting it's I currencies.

Marie Thibault

caller back very I'll into hop Okay, I appreciate good. the you. Thank

Operator

next Cohen with Ladenburg proceed the your The from with question. Thalmann. Jeffrey question comes line of Please

Jeffrey Cohen

how you? Hi, and Rob, Dom, Dominic are

Dom Serafino

How Jeff. you? are good, Hey,

Jeffrey Cohen

from questions So two around here.

extension? with talk enrolling. so started indication, you and about the the And XX Firstly, after going like little FDA expected initially there's skin more unquote you is resurfacing agency, a you're quote general AIme this looks it like tissue looks and patients can this idea which

So on And then little doctors tell if there. the of or the over other will using. to you might us also timing that may curious about be wrinkles type years? micro see the recording talk could to when tips, anticipated you that And also a the us And come if perhaps bit energy about dermo, and coming you then fruition? pulsation we

Dom Serafino

I Yes, the it first call be in we're our look, areas for the quite versatility I think body of about, that the use used terms. the excited the clearance, of can of general device

clinical what teach our about us happens remodeling dermo of trials and well. will collagen we've their to reasons, of able seen be sites, kind our in that our things approval, But want that the to who or XX some we trials, we get we're be will FDA really the right already doctors don't as as remodeling where to disclose studies targeting For now. think I once big first competitive to a our XX feasibility lot

forward. predictive, first benefit call we technology, safety I the But face, clinical do will of we the invasive this to treatments, expand make as also level The the to clinical that the our go profile. to different and that in different will on us Because FDA site. from it high of FDA XX when AIme, second the first sure variety safe patients, specific generation indications a of a for indications that, has a we're very the phase phases, quick study it, allow the face. greatly in generation more the believe is very lot working being the what indications us indication general we I'll other minimally So wants do asked confirm there's on very submission, face, you're to for areas AIme, saw two very which think of

we're some X So And have we the delay pursuing of treatment the of XX the purchase nor we add patients, be be indications that have phases. between in additional treating. X. cases, done end it'll we treatments two not where preclude launching on by preclude of Phase from area to to the that able per given to from itself, depending and understand month us et does aggressively currently platform, of in et said, going it so that the us as three, this the will year, typically add And Phase the where cetera. the we'll and treatments. do clinical anticipate But AIme, to an we'll be completed background working a cetera, via will path other we're in on I nature app, upgrade the that's all patient, AIme

we we're market see general. that's do the for time to market what So what gets Because sold do it's very differentiated normally unique in truly and our platform something about competitors. from excited by think to will this the

Jeffrey Cohen

to very as underway both restoration platforms that are their any a side development, the That's bit you architectural between and on software similarities played hardware, on about restoration, as to that the somewhat AIme things? bringing and you context the its but development, AIme far already robotics I and has the Can little platform prior a talk and think helpful. fact

Dom Serafino

the lot amounts from of artificial into the restoration cetera, came ARTAS into has vision the team. the a developing previous intelligence of been lot AIme, the massive capabilities, technology of robot that learning, the machine that by robotics the were Because money the sent built the system, et

lessons this by market. benefited to And bringing able in of device confident to current about $XXX,XXX us we robot is the by we're restoration. very From efficient lot been the learned we've XX%. around allow generation that to the this price be a robots money system, because So on we're at COGS which spent our What now. financially, going of of extremely hair generation half it's and to be that we're at improve we're pleased to us to XX% next the margins the from actually able will north next from amount cut the

the to think market allow us -- I addressable there's So versus big the addressable market. $XXX,XXX, in it's $XXX,XXX, a going at difference

I we're So excited think be much And more about efficient. utilization. it'll variety proposition will And model. by think have meaningful it'll razor the it the every clinic ability apps, way, a upgrade just the because that reasonable platform the cost different that, a clinic. will procedure AIme as to then to I the meaningful for on make it with yet of And, has the remind economic proposition, a we but blade everybody, of do call just

we to to going revenue dramatically that the able disposable few disposables we're be on our the feel over next device. years, improve from So

elegant Finally, appealing. about and the be And platform. half very very AIme the for of design is platform the industrial the restoration size will robotics current

play what those in opportunity So core important provide of all we're market and in us aesthetics, about the surgery. roles plastic will that things this excited of and dermatology especially

Jeffrey Cohen

Because Can for of should I it XXXX? during the quick a decrease only the warranty the but if in we seeing was what extended VeroGrafters? I then And saw that side. helpful. could. the That's impact know services you I know business talk about DDP for from X% model one percent you

Domenic Penna

X be a December. in but forward. revenue The I going should in trickled Well on the previous just we was essentially zero the the the bit little over Nothing modeling. think you may year VeroGrafters, should in quarter. We But on that. have the million, on had modeling discontinued first in you operations be

Jeffrey Cohen

$X segment should from service million, in be half? cut go the it should So

Domenic Penna

offset. be It'll

Dom Serafino

growth then and offset there While there'll is by be an services.

of benefit call, actually we've out the our the And big and to used customers in the felt Still and the the procedures. be given that to have of low well. be we not therefore particular future. to our really to physicians wasn't customers, worked but where those middleman that NeoGraft, our having done going out business, VeroGrafters a access was to definition that for Just carry that's on a we we margin And who process. that directly of essentially what deploy nines, is robots XXXX pretty help supporting just group the program a is use of part ability this whole the necessarily or XXXX would

Jeffrey Cohen

you. Thank

Domenic Penna

revenue services. account fact that Jeff, VeroGrafter take on And our taken the guidance into suspend we the have always account would assumptions into

Operator

comes proceed next Stifel. with Block Please Our in line question. of Jon question with your

Jon Block

Thanks know guys, one, doctor. good and And ASP especially And get the think said does your that what difficult, or any the to Bliss now we'd any to in trepidation ARTAS, Dom maybe great the be afternoon. systems usually when But just, if reluctance or quarters higher solid ownership. to systems. trends also America. first the just IoT thoughts total more Max, of I on financing they're through terms down by certainly several and financed ASP cost purchase your now, the but North love believe about these from more from systems, you doctors higher the scrutinized the, the and we on line market continue I data,

Dom Serafino

$XXX,XXX that, technology, at now, treatments. know right hair around $XXX,XXX about a ASP return has an an hour of of a the that's higher ARTAS rate We to and I doing to Jon, that to $X,XXX be great that think the clinic hair anything with the ASPs, think those somewhere analysis they're I rate that ASPs. is when done example, has needs hair on that because of for the Yes, of question, what true return is restoration

ROI So it's easily justifiable their calculations. in

ASPs periods, Bliss we a As XXX year. at Max to data the time XXX, real Bliss are periods the are at higher everybody remind Max, that payback even look the ASP. on the and Those less Bliss And a than payback range. that we have in just on

can how devices, So it's what it's their investment. quickly the the of they not necessarily cost recoup about

female. be the in stimulation both procedure to becoming procedure big and body number two is very and obviously, and number for quickly for muscle is happen the these fat growth clinics, contouring so and male areas. Hair, one And demanded one men,

fact we reasons, don't we've help on pitch the road, if extended that becomes know, for But the the know continue clinical credit you revisit an we'll really Look, of impact from if of to XX, think validation that the that obviously, devices. ROI what increased going whatever So I of don't down does further I weeks tighter speaking, these know, indications we our And that. whatsoever. XX, have to don't XX generally our be going or or think really think things ROI because you're we sort, sales that's to interest that to that's costs XX, or taking material. don't to

Jon Block

in to talked the 'XX. out going role body so just hair in out bit sales muted. number, Freedom know get compelling the questions, body tack to play ARTAS think integral you very just are little [Indiscernible] was growth business I press seemed that the in or you anything couple model. in model, your Did of and release point, other giving heard had type than seemed product scrutiny. quick But in that chatter some on I calls overall. year-over-year the previous ask Maybe up Obviously, then a little overall growth the it the ROI to growth sequentially? more were the and in and And light like call, just called you maybe business a everything anything working Freedom. And an to FDA a an capital franchise from. on more about XX% you I the give a

Just your Thanks. business freedom, to you and would how forward move want on love there? the model, thoughts

Dom Serafino

Yes.

out. day platforms very things different seriously perspective, we're and So challenging we in of out, and market we day in day makes perspective, a it the that day cetera. XX platforms that focus a difficult looked marketing is very a has company one that at we Having Different from XX that market have and et

sales much cetera, our dividends. So think in we focus ago starting attention this decision over made few the quarters. on a where has marketing's some franchise attention we've of it's talked where franchise, is organization to of about, strategic really their better body quarters et pay cetera. et that the our that to few terms is, aligned last the and hair We And

franchise. the do all in for record of in overall, We business was of segments. that restoration restoration know, of beginning QX terms and break robotics, don't since QX us particular we a a okay, While hair was the this QX hair record out quarter quarter

most will So we it said don't of But for see normally to our growth we particular streamline continue our break to than to we two. represent be that area our the handheld the the devices focus, and where as XXXX, we -- of earlier, out XXXX. the biggest into moving product robotic focus when into more today. continue the you offering balance expect traditional And

to and our XXX%, responsible the Freedom, does ensuring more don't bit I be far monitor, market, to time to pursue mean, to the KOL of think try we importantly, ensure to happens. make but pragmatic appropriate to little like on, to we Would which that that properly in that Sure, here, we done? a you're have a product. that pathways want label to bring taken ourselves As to working And to why it more we're quite typical market we is this the network about the appropriate particular take sooner going all endear marketing to and of so very great sure we to, FDA the that approach the as be KOLs off want terms able appropriate activities we've support indications the with how we frankly, we with regulatory a continue product. right. this competitors our is that

Jon Block

I'll offline. follow thanks. up Okay, it. Appreciate

Operator

Group, line with Anthony the of comes question. Our Maxim please from your next Vendetti with question proceed

Anthony Vendetti

Thanks. Yes.

following some just on up points. the So of

I have wanted to right. sure this make Just

So of for year max. Bliss restoration then and you're XX% is the the growth body hair franchise, from your will And that in franchise? the revenues the is, growth Is then the of well expecting correct? which the and body -- in the franchise? the XX%, which And for Bliss year XX% come

Dom Serafino

yes, We for it'll sake be XX%. think Correct. of the more but

Anthony Vendetti

bit margin, then more and business pricing, model what can more about, be color. XX%, consumable, just is Okay, in you're get AIme, of so little and look can the like, you little Thanks. expecting just gross I talk that just to terms the a more But which said, you on little great. you about talk a a that know, would there, bit

Domenic Penna

at problem no all. Oh,

if But the be the a North intend, ASP that will that it that technology that an that disposable the says -- the we it of generation expect of first of that America. in the nature calculated of line to basis, haven't yet. raise XX% range in we we have disposable bottom be XX% portion it'll the on $XXX,XXX by range So we margins be will expect utilization the that we're do device especially or on north procedures we expect greater, will device going in every

on significant we to for to So the are once in clinical the potential quite to with particular about, understand margin, be we prepared the have platform competitive indications the we color able various blended gross not you that particular And this of we're we at we a more here. go profit impact point as to which forward AIme pathways, excited next is will with FDA but say give do platform, disclose the what intent this plan as time generation that will in overall reasons.

Anthony Vendetti

Now, to sense. after are go acquired about the robotics. products? the a just of to makes talk in you obviously, maybe And then where IP, of aesthetic what follow restoration of just AIme, when acquired automation you IP Can next, other general, of on in in up opportunities you pursuing terms that lot intend order you

Dom Serafino

of as Big much pretty acquiring the accumulated confident quite a we have restoration protection have in today. able in anything process other more too we're we already simply leverage early use solid some mean, the at variety build with of have IP cellulite indicators. completing but of you're that was to interesting particular than like the stages that look, that's IP in because of they the that now, that been We've one IP portfolio Yes, benefits things a in of for confident over to and I on. deep the what clinical We're lot a very solutions solid right of we're on, that doing spot an going different foundation are Anthony that to to solutions we're that right we're are ability importantly, the of IP potential this, have market further area or else that this point. completely than so treated go being categories feel we and quite areas differentiated now. some but in this that, that I don't want years.

Anthony Vendetti

great. hop Okay, for sense. color, Thanks back in the queue. Makes I'll the

Operator

are Thank [Operator call. the your participation. queue. more in conclude does our you Instructions] This There no for questions

your day. have disconnect and now wonderful may You a lines

Venus Concept (VERO) 13 May 222022 Q1 Earnings call transcript