Viveve Reports Preliminary Second Quarter 2018 Revenue of $5.5 million

Viveve Medical (NASDAQ:VIVE), a medical technology company focused on women’s intimate health, today reported preliminary financial results for the second quarter ended June 30, 2018. Estimated total product revenue for the three months ended June 30, 2018, is expected to be approximately $5.5 million, representing a 79% increase over total product revenue for the quarter ended June 30, 2017. The company also announced today that it has entered into a capital sales partnership with Aesthetic Management Partners, Inc. (“AMP”) to expand its commercial footprint in the U.S.

As quoted in the press release:

“This quarter’s preliminary total revenue reflects the impact of several recent positive developments, including the restructuring and expansion of our sales organization in the first quarter of 2018, positive clinical data from our clinical research in stress urinary incontinence in February and June, and growing adoption of our CMRF platform and single treatment procedures by physicians around the world. We are also planning for expansion of our U.S. footprint with the addition of the experienced capital sales team at AMP.  With these developments in place, we believe we are well-positioned for further growth in adoption and utilization of our technology and remain on track to meet our full year revenue guidance of $22-$24 million,” said Scott Durbin, chief executive officer and director of Viveve.

Under its partnership with AMP, Viveve will retain its direct sales organization consisting of four regional sales directors, 23 capital representatives, and 10 practice development managers while expanding coverage with the addition of approximately 20 AMP capital representatives. The partnership with AMP also provides a cross-organizational bundled sales opportunity with Viveve technology positioned as the core product offering.  Viveve’s newly launched practice development management team will continue to support all current and future utilization and growth for the U.S. installed customer base.

Click here to read the full press release.