Exhibit 99.1

 

Viveve Reports Fourth Quarter and Full Year 2017 Financial Results

 

Company achieves record performance with 114% year-over-year revenue growth and projects $22 - $24 million in revenue for 2018

 

 

ENGLEWOOD, CO -- March 15, 2018 -- Viveve Medical Inc. (NASDAQ: VIVE), a medical technology company focused on women's intimate health, today reported financial results for the three months and year ended December 31, 2017.

 

Our successful fourth-quarter results completed a remarkable year for Viveve, underscoring the scope of our commercial opportunity and the outstanding execution delivered by our team in every area of our operations throughout the year. During 2017 we rigorously pursued and achieved several key milestones supporting our global commercialization goals,” said Ms. Patricia Scheller, chief executive officer and director of Viveve. “We believe these achievements further solidify our position as a leader in technologies to support women’s intimate health and will allow us to capitalize on the increasing demand, rapid adoption, and expanded utilization of our products in 2018.”

 

2017 Business Highlights

 

 

Achieved total revenue of $15.3 million from the sale of 227 systems and over 10,800 disposable treatment tips worldwide, representing a 114% year-over-year revenue increase.

 

 

Launched a U.S. commercial sales team in February and expanded the Viveve sales organization to a total of 23 at the end of the fourth quarter, including building a direct sales team in Canada.

 

 

Received international regulatory clearances in 10 countries for new or expanded indications, the majority for treatment of vaginal laxity and/or improvement of sexual function.

 

 

Strengthened balance sheet with approximately $65 million in gross proceeds from debt and equity financings to support continued global expansion and commercial operations.

 

 

Announced publication of VIVEVE I study results and sub-analysis of validated Female Sexual Function Index domains in two peer-reviewed journals, Journal of Sexual Medicine and Journal of Women’s Health.

 

 

Supported numerous investigator sponsored studies that generated additional differentiating clinical data for expanded applications.

 

 

Opened new corporate headquarters in Englewood, Colorado, supporting expansion of team to nearly 100 full-time employees.

 

 

The following information was filed by Viveve Medical, Inc. (VIVE) on Thursday, March 15, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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