Attention Seeking Stock: Viveve Medical Inc (NASDAQ: VIVE)

On Monday, Shares of Viveve Medical Inc (NASDAQ: VIVE) showed the bearish trend with a lower momentum of -3.31% and ended its trading session at $2.63. The company traded total volume of 166.79K shares as contrast to its average volume of 586.95K shares. The company has a market value of $81.90M and about 31.14M shares outstanding. During the 52-week trading session, the minimum price at which share price traded was registered at $1.60 and reached the max level of $7.73.

Viveve Medical Inc. (VIVE), a medical technology company focused on women’s intimate health, recently stated its financial results for the quarter ended March 31, 2018.

“For the first quarter of 2018, Viveve recorded sales of $3.70M demonstrating strong global demand and increasing enthusiasm from physicians for our innovative cryogen-cooled monopolar radiofrequency technology and its clinical applications. We also reached a number of noteworthy milestones that support our global commercialization strategy and set the stage for continuing global adoption of the Viveve® System through the remainder of 2018,” said Scott Durbin, chief executive officer and director of Viveve.

Q1 2018 Financial Results:

Revenue for the first quarter of 2018 totaled $3,699.0K from the sale of 53 Viveve systems, 38 of which were sold in North America through direct sales, and about 5,400 disposable treatment tips making the company’s current global installed base as of March 31, 2018 – 497 systems, contrast to revenue of $3,041.0K for the same period in 2017, a 22% year-over-year quarterly revenue growth.

Gross profit for the first quarter of 2018 was $1,347.0K, or 36% of revenue, contrast to gross profit of $1,422.0K or 47% of revenue, for the same period in 2017. The decrease was mainly because of the change in the mix of products sold in the first quarter of 2018.

Total operating expenses for the first quarter of 2018 were $12,687.0K, up from $7,838.0K in the same period in 2017, mainly a result of increased costs to support commercialization in North America markets, product development efforts, regulatory and clinical study activities, strategies to protect Viveve’s intellectual property and other general corporate expenses.

Net loss for the first quarter of 2018 was $12,669.0K, or ($0.49) per share, contrast to a net loss of $6,695.0K, or ($0.57) per share, for the same period in 2017.

Cash and cash equivalents were $38,378.0K as of March 31, 2018, which includes the recent equity financing that concluded in February 2018.

2018 Financial Guidance:

Viveve continues to anticipate rapid commercial growth and reiterates its 2018 guidance for annual revenue of $22.0M to $24.0M.

The Company offered gross profit margin of 46.20%. ROE was recorded as -437.90% while beta factor was -0.55. The stock, as of recent close, has shown the weekly downbeat performance of -3.66% which was maintained at -47.08% in this year.

Adler Smith

Adler Smith

I am Adler Smith and I’m passionate about business and finance news with over 5 years in the industry starting as a writer working my way up into senior positions. I am the driving force behind “Stocks Pen” with a vision to broaden the company’s readership throughout 2016. I am an editor and reporter of news about “Healthcare” Sector Companies.

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