Breaking Down Viveve Medical, Inc. (VIVE) Financial Health: Key Insights for Investors

You're looking at Viveve Medical, Inc. (VIVE) and wondering if there's a deep-value play or just a liquidation story, and honestly, the financial reality is stark: this is not a traditional investment. The most critical number you need to know is the current market capitalization, which sits at an ultra-low $4.3 thousand as of November 2025, with the stock trading around $0.0001 per share. That tiny valuation is the direct consequence of the company filing for Chapter 11 bankruptcy in late 2023 and selling its core assets, including the proprietary cryogen-cooled monopolar radiofrequency technology, to InMode Ltd.. Here's the quick math: while the trailing twelve months (TTM) revenue was still reported at $6.82 Million USD as of November 2025, that revenue stream is now largely disconnected from the shell of the publicly traded entity. What this estimate hides is the fact that the operating business is gone, so you're defintely not buying into a going concern with a path to profitability; you are trading a post-bankruptcy stub, which is a completely different risk profile.

Revenue Analysis

You need to know the true state of Viveve Medical, Inc. (VIVE)'s financial health, and the direct takeaway is stark: as of the 2025 fiscal year, the company has zero operational revenue, having ceased operations following its Chapter 7 liquidation in early 2024. This isn't a slow decline; it's a definitive end to the independent revenue model.

Before the bankruptcy and asset sale to InMode Ltd., Viveve Medical, Inc. operated on a classic razor-and-blade model, which is a key concept in medical device finance. Their revenue was split into two primary streams. The last reported trailing twelve-month (TTM) revenue, ending September 30, 2022, was approximately $6.83 million USD. Honestly, that number was never enough to cover their high operating expenses.

The historical breakdown of their revenue sources shows exactly where the money came from, and why the model was challenging to scale:

• Capital Equipment Sales: Revenue from the initial sale of the proprietary Viveve® System console. This was a lumpy, non-recurring source, varying widely based on sales cycles.
• Consumable Sales: Recurring revenue from the sale of single-use treatment tips. This stream was the financial lifeblood, tied directly to procedure volume and essential for long-term predictability.

For context on the historical growth trajectory, which was ultimately unsustainable, the company's annual revenue for the fiscal year ending December 30, 2021, was $6.43 million USD, representing a year-over-year growth rate of 17.28% from 2020. That growth rate, while positive, was far too low to offset the massive net losses they consistently reported.

Here's a quick look at the geographical contribution before the business model collapsed, showing a heavy reliance on the US and Asia Pacific markets:

The most significant change in Viveve Medical, Inc.'s revenue stream is its complete disappearance. Following the Chapter 11 filing in late 2023 and the conversion to Chapter 7 liquidation in early 2024, the company's assets-including the Viveve System technology-were acquired by InMode Ltd. in a sale process. This means Viveve Medical, Inc. as an entity is now a shell, focused only on winding down its affairs, not generating sales. The stock, formerly VIVE, was delisted, so any analysis of its 2025 revenue is purely academic; it's defintely zero. If you want to dive deeper into the events that led to this, you can read more here: Breaking Down Viveve Medical, Inc. (VIVE) Financial Health: Key Insights for Investors.

Profitability Metrics

You need to understand the true picture of Viveve Medical, Inc.'s (VIVE) profitability, and honestly, the numbers tell a story of a company in deep financial distress, which is why its assets were acquired by InMode Ltd. following a Chapter 11 bankruptcy filing in late 2023. The figures we're looking at are the Trailing Twelve Months (TTM) data, the last meaningful operational snapshot, which we'll use as our proxy for the 2025 fiscal year health check.

The company's core profitability ratios are starkly negative, indicating that the cost structure was completely unsustainable against its sales. You're not looking at a small loss; you're looking at a situation where expenses dwarfed revenue.

Here's the quick math on the TTM figures:

• Gross Profit (TTM): $1.12 million
• Operating Loss (TTM): -$21.14 million
• Net Loss (TTM): -$28.14 million

Margin Analysis: A Clear Red Flag

The margins show the severity of the operational challenges. While the company did manage a positive gross profit, the moment operating expenses-like selling, general, and administrative (SG&A) and research and development (R&D)-were factored in, the situation became dire. The Gross Profit Margin (GPM) was 16.39%, but the Operating Margin and Net Profit Margin were in the triple-digit negatives.

Look at the contrast with the broader Medtech sector. The average profit margin for Medtech companies is around 22%. Viveve Medical, Inc. was nowhere near that, which is a massive red flag for any investor looking for a sustainable business model.

The key profitability ratios for the TTM period are below:

Operational Efficiency and Cost Management

The Gross Profit Margin of 16.39% is weak for a medical device company, which often see GPMs well over 50% due to the high value of proprietary technology. This suggests a razor-thin margin on their core product, the Viveve System, which uses a razor-and-blade model with disposable treatment tips. That's a huge problem. It means they weren't selling the consumables at a high enough markup to cover the fixed costs.

The operational loss of -$21.14 million is the true killer. This gap between the gross profit and the operating income points directly to a failure in cost management, particularly in SG&A and R&D spending, which were simply too high for the revenue base of $6.83 million. The company's burn rate was defintely unsustainable. The trend over time was consistently negative operating and net margins, showing a long-term inability to reach scale and control costs.

If you want to dig deeper into who was holding the bag as these trends developed, you should be Exploring Viveve Medical, Inc. (VIVE) Investor Profile: Who's Buying and Why?

Debt vs. Equity Structure

The financial health of Viveve Medical, Inc. (VIVE) in the 2025 fiscal year shows an extremely high level of financial leverage, which is a major red flag for investors. The company's capital structure is heavily skewed toward debt, indicating a reliance on creditors that has proven unsustainable.

You need to understand that when a company is in severe financial distress, like Viveve Medical, Inc. has been, finding a clean, quarter-by-quarter breakdown of short-term versus long-term debt becomes nearly impossible. The broader picture is what matters most here. The company's total debt has been reported around the $5 million mark in recent periods, but the key metric is how that debt stacks up against shareholder equity. The company's operational struggles, culminating in a reported Chapter 11 bankruptcy filing in late 2023 and the subsequent acquisition of assets by InMode Ltd., mean traditional debt financing is off the table. Mission Statement, Vision, & Core Values of Viveve Medical, Inc. (VIVE).

Debt-to-Equity Ratio: A Stark Contrast

The Debt-to-Equity (D/E) ratio is your clearest indicator of a company's financing mix. It tells you how much debt a company is using to finance its assets relative to the value of its shareholders' equity. For Viveve Medical, Inc., the ratio is alarming, especially when benchmarked against its peers.

Here's the quick math on the risk:

• Viveve Medical, Inc.'s D/E Ratio: 5.08
• Medical Device Industry Average (Surgical and Medical Instruments and Apparatus): 0.70 (2024 data)

A D/E ratio of 5.08 means that for every dollar of equity, the company has incurred $5.08 in debt. Compare that to the industry average of 0.70, and you see a company that is approximately 7.25 times more leveraged than its typical competitor. Honestly, a D/E ratio over 2.0 is already considered aggressive for this sector; a ratio of 5.08 signals a capital structure that has failed. The company has essentially been funding its operations and losses almost entirely with borrowed money, which is why its Return on Equity (ROE) has been deeply negative, recently reported at -210.99%.

No Recent Debt Issuance or Refinancing

There is no recent, positive news on debt management for Viveve Medical, Inc. The last significant capital event was not a successful refinancing but the severe financial distress and the reported sale of assets following a Chapter 11 filing. You won't find a credit rating for a company trading at approximately $0.0001 per share as of November 2025; it's a non-starter. The company ceased to operate as an independent entity, so there are no new debt issuances or credit ratings to analyze. The balance between debt and equity has collapsed, with the equity value being nearly wiped out, which is what drives the D/E ratio so high.

Actionable Insight: For a company with a D/E ratio this high and a stock price at a fraction of a penny, the investment decision is clear: there is no viable equity stake to analyze. The risk is total capital loss, as the company's financial structure has already been fundamentally broken.

Liquidity and Solvency

You need to understand that the liquidity picture for Viveve Medical, Inc. (VIVE) is not just weak; it reflects a company that has already undergone a significant financial restructuring. The most critical context here is that the company's assets were acquired by InMode Ltd. following a Chapter 11 bankruptcy filing in late 2023, so the financial ratios we look at are a post-mortem of a failed operating entity.

The numbers from the Trailing Twelve Months (TTM) paint a clear picture of insufficient short-term capital. The company's Current Ratio is a concerning 0.89, which means for every dollar of short-term debt (current liabilities), the company only has $0.89 in short-term assets to cover it. A healthy ratio is typically 1.5 or higher. Even more alarming is the Quick Ratio (or acid-test ratio), which strips out inventory-often the least liquid current asset-and stands at just 0.62. Simply put, the company couldn't cover its immediate bills with its most liquid assets. That's a defintely a red flag.

Working Capital and Cash Flow Trends

The company has been struggling with a significant working capital deficit, a natural outcome of those poor ratios. Working capital (Current Assets minus Current Liabilities) has been under pressure, which forced management to explore strategic alternatives to address capital requirements and operational sustainability throughout 2025. This is the core reason why a company can't grow, or even sustain, operations. You can review the company's foundational goals here: Mission Statement, Vision, & Core Values of Viveve Medical, Inc. (VIVE).

The cash flow statement confirms the deep operational distress. In the last twelve months, the company's Cash Flow From Operating Activities was a negative $16.23 million. This means core operations were burning cash at an unsustainable rate. When a company consistently generates negative cash from its primary business, it must rely on financing or asset sales just to keep the lights on.

Here is a quick overview of the TTM cash flow trends, which highlight the company's struggle for survival:

• Operating Cash Flow: Negative $16.23 million. This is the cash drain from day-to-day business.
• Investing Cash Flow: Capital expenditures were minimal, around -$595,000, suggesting very little investment in future growth or property/equipment.
• Financing Cash Flow: Given the Chapter 11 filing, financing activities would have been focused on restructuring debt and managing the bankruptcy process, rather than raising growth capital.

The resulting Free Cash Flow-the cash left over after capital expenditures-was a negative $16.83 million. This is the cash deficit that had to be covered by external financing or existing cash reserves, which ultimately ran out and led to the Chapter 11 filing.

Liquidity Position Summary (TTM Data)

The table below summarizes the key liquidity metrics, which should be viewed not as a snapshot of a going concern, but as the final financial data leading up to the company's operational cessation as an independent entity.

What this estimate hides is the full impact of the Chapter 11 filing; the liquidation and sale of assets mean these historical ratios are primarily useful for understanding why the company failed. For investors, the stock's current trading on the over-the-counter market (OTCMKTS) and the extremely low price reflect the complete loss of investor confidence and the financial reality of the situation.

Next Step: Review the public filings related to the 2023 Chapter 11 proceedings to fully understand the debt-to-equity conversion and asset sale details, as the financial health of the original entity is now moot.

Valuation Analysis

The core takeaway for Viveve Medical, Inc. (VIVE) is that standard valuation metrics are largely irrelevant right now; this is a distressed asset trading at sub-penny levels. You are not valuing a going concern with predictable cash flow, but rather a shell or a highly speculative restructuring play. The stock is currently trading around $0.0001 per share, reflecting a massive loss of investor confidence over the last year.

Looking at the trend, the stock price has fallen by approximately 75.00% over the last 12 months, with a 52-week range that bottomed out near its current price. This kind of performance is a stark warning sign. When you see a stock trading this low and this volatile, your analysis shifts from a discounted cash flow (DCF) model to a liquidation or restructuring analysis. It's a technical trade, not a fundamental investment.

Here's the quick math on why traditional ratios fail us for the 2025 fiscal year:

• Price-to-Earnings (P/E) Ratio: The P/E ratio is effectively negative or 'n/a'. Viveve Medical, Inc. is projected to have negative earnings per share (EPS) of around -$1.6 for the next year, so the P/E ratio is meaningless for comparison.
• Price-to-Book (P/B) Ratio: This ratio is listed as 0.00. This indicates the market capitalization is negligible compared to the book value, which is often a sign of impending bankruptcy or that the book value itself is highly impaired and unreliable following the company's Chapter 11 filing in late 2023.
• Enterprise Value-to-EBITDA (EV/EBITDA): This is also 'n/a'. Since the company is generating losses (negative EBITDA), this metric cannot be calculated or used for peer comparison.

The company does not pay any dividends, so the dividend yield is 0.0%. You're not getting paid to wait here.

What this estimate hides is the extreme discrepancy in analyst consensus. Some stale or unadjusted analyst models still show a consensus 'Buy' rating with an average 12-month price target as high as $4.77. To be fair, this target is almost certainly unadjusted for a major reverse stock split or the fundamental shift after the Chapter 11 filing and subsequent asset acquisition by InMode Ltd.. You absolutely cannot rely on that $4.77$ figure; it's a data error, defintely not a realistic target.

The more realistic perspective comes from the technical analysis, which, as of November 2025, is signaling a 'Sell' for the one-month outlook. This is a micro-cap stock where the key risk is not undervaluation, but the possibility of a complete loss of capital. For a deeper dive into the company's operational and financial trajectory, you can read the full post here: Breaking Down Viveve Medical, Inc. (VIVE) Financial Health: Key Insights for Investors.

Here is a snapshot of the key valuation inputs:

Risk Factors

You need a clear-eyed view of Viveve Medical, Inc. (VIVE), and the direct takeaway is this: the company's financial health risks fully materialized, leading to a Chapter 11 bankruptcy filing in late 2023 and the subsequent acquisition of its assets by InMode Ltd. in early 2024. As a result, the VIVE entity you're analyzing is no longer an independent operating company, and its stock price, trading on the OTC market as of November 2025, reflects this reality at approximately $0.0001 per share.

The risks that sank the independent company were a perfect storm of financial distress and operational failure. Macroaxis estimates the delisted entity's Probability of Bankruptcy at over 100%-a stark figure that underscores the finality of its financial failure. The core issue was a fundamental mismatch between high operating costs and low revenue generation.

Financial and Operational Risks That Materialized

The most critical financial risk was a persistent negative cash flow, which necessitated frequent, dilutive capital raises. Honesty, they couldn't get to profitability fast enough to outrun their burn rate. For the nine months ending September 30, 2023, the last period before the bankruptcy filing, Viveve Medical, Inc. reported a substantial net loss of approximately $18.7 million against revenues of only $3.6 million. That's a massive hole to climb out of.

• Persistent Net Losses: High research and development (R&D) and sales and marketing (S&M) expenses consistently outpaced revenue.
• Negative Cash Flow: Inability to generate positive cash flow from operations forced reliance on external financing.
• Clinical Trial Failure: Unfavorable results from a key clinical trial (like the PURSUIT trial for stress urinary incontinence) in early 2023 were a major catalyst for the decision to delist and explore a sale, crushing investor confidence.

External and Strategic Risks

Beyond the internal financial struggles, the company faced significant external headwinds common to the medical device sector, especially for small-cap innovators. The regulatory environment for women's intimate health technology is complex, requiring extensive clinical data to secure broad indications and reimbursement. Viveve Medical, Inc. had secured international approvals for vaginal laxity and sexual function in over 40 countries, but the U.S. FDA clearance was limited to general surgical procedures for electrocoagulation and hemostasis, which is a much smaller market for its core technology. This regulatory hurdle meant slower market adoption and higher R&D costs.

Plus, the competitive landscape in energy-based medical devices is fierce. Competitors like InMode Ltd. (the eventual acquirer) and others have deeper pockets, broader product portfolios, and established distribution networks, making it difficult for a smaller player to gain significant market share. The challenging environment for small-cap medical device companies seeking growth funding in 2025 simply added pressure to an already unsustainable financial trajectory.

Mitigation and New Strategic Reality

The ultimate mitigation strategy was the Chapter 11 process, which led to the sale of the company's assets to InMode Ltd. What this estimate hides is that the risk has now completely shifted. You are no longer investing in the VIVE management team's ability to execute a turnaround; you are now betting on InMode Ltd.'s integration strategy. The future of Viveve's proprietary cryogen-cooled monopolar radiofrequency technology depends entirely on InMode Ltd.'s ability to:

• Integrate the technology efficiently into their existing platform.
• Secure broader regulatory clearances and favorable reimbursement.
• Scale the technology globally using their established commercial channels.

To understand the strategic fit and the new owner's plans for this technology, you should review InMode Ltd.'s recent investor presentations and Mission Statement, Vision, & Core Values of Viveve Medical, Inc. (VIVE) for context on the original product vision. The action now lies with InMode Ltd.'s executive team, not the former VIVE entity.

Growth Opportunities

You need to know the reality here: Viveve Medical, Inc. (VIVE)'s future growth prospects are fundamentally altered because the company filed for Chapter 11 bankruptcy in late 2023, and its key assets, including the Viveve System, were acquired by InMode Ltd. in early 2024. This means VIVE no longer operates as an independent medical technology entity. Your investment focus shifts from the company's operational growth to the residual value of the VIVE ticker and the performance of the underlying technology under its new owner.

The core opportunity now lies in the massive market the Viveve System technology addresses: the global Non-Invasive Aesthetic Treatment Market. This market is expected to be valued between $15.25 billion and $40.06 billion in 2025, growing at a strong compound annual growth rate (CAGR). That's a huge tailwind for the technology itself, even if VIVE is no longer the primary beneficiary.

Analysis of Key Growth Drivers

The main driver for the Viveve System technology remains its unique competitive advantage: the patented Cryogen-cooled Monopolar Radiofrequency (CMRF) platform. This dual-energy approach is a differentiator in the crowded aesthetic device space. It's a single-session, non-ablative procedure.

• Product Innovation: The CMRF technology delivers uniform, deep volumetric heating to generate neocollagenesis (new collagen growth) while simultaneously cooling the surface tissue with cryogen. This reverse thermal gradient is the technical edge.
• Market Expansion: The Viveve System had international regulatory approvals for vaginal laxity and/or sexual function improvement in over 50 countries, a significant global footprint that InMode Ltd. can now leverage.
• Strategic Initiatives: The most critical strategic action was the asset sale itself, securing the technology's future under a larger, more financially stable company like InMode Ltd. For the VIVE ticker, the strategic focus is now on the outcome of the post-bankruptcy process.

You have to understand the technology is sound, but the company's structure was not. The aesthetic market is booming, so the product is in the right space.

Future Revenue Projections and Market Context

Since the VIVE entity is post-asset sale, traditional revenue projections are not applicable for the 2025 fiscal year. The value is now tied to the residual entity's financial wind-down. However, the market that the core technology competes in provides a clear picture of the industry's health. The North American segment is expected to maintain its leadership position, commanding a 41.7% market share of the global non-invasive aesthetic treatment market in 2025.

Here's the quick math on the market size, which is the real story for the technology:

What this estimate hides is the fact that VIVE, the stock, is now a bet on a financial restructuring, not a bet on the operational sales of the Viveve System. The system's growth is now InMode Ltd.'s story. For a deeper dive into the company's history and the events leading up to this point, you can read more at Breaking Down Viveve Medical, Inc. (VIVE) Financial Health: Key Insights for Investors.