Viveve Medical (VIVE) Offers Prelim. Q4 Results, FY18 Guidance

Viveve Medical Inc. (NASDAQ: VIVE), a medical technology company focused on women's health and wellness, today reported preliminary financial results for the three months and full year ended December 31, 2017.

"Viveve has continued its rapid commercial expansion and with the preliminary close of our 2017 fourth quarter and year-end financial results, we are pleased to report increasing demand for our globally patented cryogen-cooled monopolar radiofrequency (CMRF) technology and the GENEVEVE™ treatment and believe the numbers reflect the positive and enthusiastic feedback we have received from distributors, physicians and patients around the world. As we continue to build our global distribution and sales network, we are well-positioned for further adoption, utilization and sales growth in all of our target markets in 2018," said Patricia Scheller, chief executive officer and director of Viveve.

"Viveve now has a commercial installed base of 444 systems worldwide, 80 of which were sold in the fourth quarter of 2017," said Scott Durbin, Viveve's chief financial officer. "Based on the momentum of our global commercialization efforts and proven benefits of our technology for both clinicians and patients, we project full year revenue for 2018 between $22 million and $24 million."

Fourth Quarter 2017 Preliminary Financial Results
Estimated total revenue from the sale of 80 Viveve Systems worldwide (57 in North America), approximately 2,600 disposable treatment tips and other ancillary consumables during the three months ended December 31, 2017, is expected to be approximately $5.1 million, representing a 25% increase over total revenue for the quarterly period ended September 30, 2017 and a 108% increase for the quarter year-over-year.

(Street sees Q4 EPS of ($0.46) on revenue of $5.25 million.)

Full Year 2017 Preliminary Financial Results
Estimated revenue for the full year 2017 totaled approximately $15.3 million from the sale of 227 Viveve Systems worldwide (160 in North America) and approximately 10,800 disposable treatment tips, compared to revenue of $7.1 million for the full year 2016, an increase of $8.2 million or 115% year-over-year.

Cash and cash equivalents were approximately $20.4 million as of December 31, 2017, an increase of $12.3 million from $8.1 million as of December 31, 2016.

Viveve's 2017 fourth quarter and year-end anticipated revenue results are preliminary and based on the most current information available and are subject to completion of the consolidated financial statements. The company plans to report its final fourth quarter and year-end 2017 financial results in March 2018.

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