Viveve Releases Preliminary Third Quarter 2017 Financial Results
Record Sales and 120% Year-Over-Year Revenue Growth
ENGLEWOOD, CO -- (Marketwired) -- 10/18/17 -- Viveve Medical, Inc. (NASDAQ: VIVE), a medical technology company focused on women's health and wellness, today released preliminary financial results for the third quarter ended September 30, 2017.
Third Quarter 2017 Preliminary Financial Results:
Total revenue from the sale of 60 Viveve Systems and approximately 2,700 disposable treatment tips, and other ancillary consumables is expected to be approximately $4.1 million, representing a 32% increase over total revenue for the quarterly period ended June 30, 2017.
"While the third quarter in the medical device industry is typically seasonally soft, we are thrilled with our third quarter results, which continue to demonstrate strong demand for the Viveve System in markets around the world, particularly in the US, our largest target market," said Patricia Scheller, chief executive officer of Viveve. "We look forward to maintaining this momentum in our global commercialization strategy throughout the remainder of the year and into 2018."
Viveve's third quarter 2017 anticipated revenue results are preliminary and based on the most current information available and are subject to completion of the consolidated financial statements for the third quarter of 2017. The company plans to report its third quarter financial results on November 8, 2017.
Conference Call and Webcast Information
The company will host a live conference call and webcast at 5:00 p.m. ET on November 8, 2017. The conference call can be accessed at http://dpregister.com/10110851. The dial-in telephone number will be provided upon registration either in advance of or at the time of the conference call. The conference call will be archived on the company's website at www.ir.viveve.com.
Viveve Medical, Inc. is a women's health and wellness company passionately committed to advancing new solutions to improve women's overall well-being and quality of life. The internationally patented Viveve® System, that delivers the GENEVEVE™ treatment, incorporates clinically proven cryogen-cooled, monopolar radiofrequency (CMRF) energy-based technology to uniformly deliver volumetric heating while gently cooling surface tissue to generate robust neocollagenesis in one 30-minute in-office session.
International regulatory approvals and clearances have been received for vaginal laxity and/or improvement in sexual function indications from over 50 countries. Consistent with these approvals, Viveve is in the process of submitting an IDE to the FDA to conduct a pivotal study on use of the device for improvement in sexual function. Currently, in the United States, the Viveve System is cleared by the FDA for general surgical procedures for electrocoagulation and hemostasis.
InControl Products by Viveve are FDA cleared medical devices that treat stress, urge, and mixed incontinence conditions and products to improve pelvic floor strength. Viveve exclusively distributes InControl Medical's products to healthcare providers in the United States. For more information visit Viveve's website at www.viveve.com.
Safe Harbor Statement
All statements in this press release that are not based on historical fact are "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. While management has based any forward-looking statements included in this press release on its current expectations, the information on which such expectations were based may change. These forward-looking statements rely on a number of assumptions concerning future events and are subject to a number of risks, uncertainties and other factors, many of which are outside of our control, which could cause actual results to materially differ from such statements. Such risks, uncertainties and other factors include, but are not limited to, the fluctuation of global economic conditions, the performance of management and our employees, our ability to obtain financing, competition, general economic conditions and other factors that are detailed in our periodic and current reports available for review at www.sec.gov. Furthermore, we operate in a highly competitive and rapidly changing environment where new and unanticipated risks may arise. Accordingly, investors should not place any reliance on forward-looking statements as a prediction of actual results. We disclaim any intention to, and undertake no obligation to, update or revise forward-looking statements to reflect events or circumstances that subsequently occur or of which we hereafter become aware.
Viveve is a registered trademark of Viveve, Inc.
Geneveve is a trademark of Viveve, Inc.
Investor Relations contacts:
Stern Investor Relations, Inc.
1270 Avenue of the Americas, Suite 408
New York, NY 10020
Amato and Partners, LLC
Investor Relations Counsel
New York, NY
Berry & Company Public Relations
Source: Viveve Medical, Inc.
Released October 18, 2017