v3.25.1

Note 5 - Accounts Receivable | 12 Months Ended
--- | ---
Dec. 31, 2024
Notes to Financial Statements |
Trade and Financing Receivables [Text Block] | 5. ACCOUNTS RECEIVABLE The Company’s products may be sold under our Venus Prime program and legacy subscription model, with unencumbered title passing to the customer at the end of the lease term, which is generally 36 months. These arrangements are considered to be sales-type leases, where the present value of all cash flows to be received under the agreement is recognized upon shipment to the customer as lease revenue. Venus Prime, launched in January 2024, is a structured in-house financing program which replaces the legacy subscription program for new customers in North America. A financing receivable is a contractual right to receive money, on demand or on fixed or determinable dates, that is recognized as an asset on the Company’s consolidated balance sheets. The Company’s financing receivables, consisting of sales-type leases, totaled $19,262 and $32,393 at December 31, 2024 and 2023, respectively, and are included in accounts receivable and long-term receivables on the consolidated balance sheets. The Company evaluates the credit quality of an obligor at lease inception and monitors credit quality over the term of the underlying transactions. The Company performed an assessment of the allowance for expected credit losses as of December 31, 2024 and 2023. Based upon such assessment, the Company recorded an allowance for expected credit losses totaling $3,786 and $7,415 as of December 31, 2024 and 2023, respectively. The balance as of December 31, 2023 included $0.5 million due to the adoption of revised guidance of ASC 326 "Financial Instruments - Credit Losses" (Topic 326) Measurement Credit Losses on Financial Instruments. A summary of the Company’s accounts receivables is presented below:
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Gross accounts receivable |  | $ | 31,041 |  |  | $ | 47,884 |
Unearned income |  |  | (1,271 | ) |  |  | (2,139 | )
Allowance for expected credit losses |  |  | (3,786 | ) |  |  | (7,415 | )
|  | $ | 25,984 |  |  | $ | 38,330 |
Reported as: |  |  |  |  |  |  |  |
Current trade receivables |  | $ | 18,721 |  |  | $ | 29,151 |
Current unearned interest income |  |  | (907 | ) |  |  | (1,468 | )
Long-term trade receivables |  |  | 8,534 |  |  |  | 11,318 |
Long-term unearned interest income |  |  | (364 | ) |  |  | (671 | )
|  | $ | 25,984 |  |  | $ | 38,330 |
Current Venus Prime and subscription agreements are reported as part of accounts receivable. The following are the contractual commitments, net of allowance for expected credit losses, to be received by the Company over the next 5 years:
|  |  |  |  |  | December 31, |
|  | Total |  |  | 2025 |  |  | 2026 |  |  | 2027 |  |  | 2028 |  |  | 2029 |
Current financing receivables, net of allowance of $961 |  | $ | 10,728 |  |  | $ | 10,728 |  |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | — |
Long-term financing receivables, net of allowance of $384 |  |  | 8,534 |  |  |  | — |  |  |  | 5,678 |  |  |  | 2,819 |  |  |  | 37 |  |  |  | — |
|  | $ | 19,262 |  |  | $ | 10,728 |  |  | $ | 5,678 |  |  | $ | 2,819 |  |  | $ | 37 |  |  | $ | — |
Accounts receivable from our Venus Prime program bear interest commensurate with the customer's credit risk. Accounts receivable from our legacy subscription model do not bear interest and are typically not collateralized. The Company performs credit evaluations on new and existing customers' financial condition and maintains an allowance for expected credit losses. Uncollectible accounts are charged to expense when deemed uncollectible, and accounts receivable are presented net of an allowance for expected credit losses. Accounts receivables are deemed past due in accordance with the contractual terms of the agreement. Actual losses may differ from the Company’s estimates and could be material to its consolidated balance sheets, results of operations and cash flows. The allowance for expected credit losses consisted of the following activity:
|  | As of December 31, |
|  | 2024 |  |  | 2023 |
Balance at beginning of year |  | $ | 7,415 |  |  | $ | 13,619 |
Write-offs |  |  | (5,055 | ) |  |  | (7,554 | )
Provision |  |  | 1,426 |  |  |  | 1,350 |
Balance at end of year |  | $ | 3,786 |  |  | $ | 7,415 |

X
- References No definition available. + Details
Name: | us-gaap_DisclosureTextBlockAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The disclosure for trade and financing receivables. + References No definition available. + Details
Name: | vero_TradeAndFinancingReceivablesTextBlock
Namespace Prefix: | vero_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration