[Q2 2025 Financial Highlights and Business Outlook](index=1&type=section&id=ClearPoint%20Neuro%20Reports%20Second%20Quarter%202025%20Results) [Key Achievements and Strategic Update](index=1&type=section&id=Second%20Quarter%20Highlights) ClearPoint Neuro reported record Q2 2025 revenue of $9.2 million, a 17% year-over-year increase, driven by growth across all business pillars, securing up to $105 million in financing to boost cash to $41.5 million for its 'Fast. Forward.' growth strategy | Metric | Q2 2025 | YoY Change | | :--- | :--- | :--- | | **Total Revenue** | $9.2 million | +17% | | **Neurosurgery Navigation & Therapy Revenue** | $3.4 million | +33% | | **Cash and Cash Equivalents** | $41.5 million | N/A | - The company entered a new strategic phase termed 'Fast. Forward.', focusing on multiple growth vectors including expansion into the operating room, laser therapy, new geographies, and supporting Biopharma partners in late-stage clinical trials[3](index=3&type=chunk) - A significant financing deal was secured with Oberland Capital Management, providing up to **$105.0 million** through a note arrangement and an additional **$3.5 million** from a stock purchase, with an initial **$30.0 million** funded at closing[4](index=4&type=chunk) [Business Outlook](index=2&type=section&id=Business%20Outlook) The company has reaffirmed its previously stated revenue guidance for the full fiscal year 2025 - ClearPoint Neuro reaffirms its full-year 2025 revenue outlook to be between **$36.0 million** and **$41.0 million**[5](index=5&type=chunk) [Detailed Financial Performance Analysis (Q2 2025)](index=2&type=section&id=Financial%20Results%20%E2%80%93%20Quarter%20Ended%20June%2030%2C%202025) [Revenue Analysis](index=2&type=section&id=Revenue%20Analysis) Total revenue for Q2 2025 increased by 17% year-over-year to $9.2 million, with Neurosurgery Navigation and Therapy revenue showing the strongest performance at 33% growth, followed by Capital Equipment and Software at 11% and Biologics and Drug Delivery at 10% [Biologics and Drug Delivery Revenue](index=2&type=section&id=Biologics%20and%20drug%20delivery%20revenue) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $4.7 million | $4.3 million | +10% | - The increase was driven by a **$0.2 million** rise in product revenue from higher demand as partners progress in trials, and a **$0.2 million** increase in service revenue[7](index=7&type=chunk) [Neurosurgery Navigation and Therapy Revenue](index=2&type=section&id=Neurosurgery%20navigation%20and%20therapy%20revenue) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $3.4 million | $2.6 million | +33% | - Growth was fueled by higher sales from new offerings, including SmartFrame OR, Prism Laser Therapy, and the new 3.0 operating room navigation software[8](index=8&type=chunk) [Capital Equipment and Software Revenue](index=2&type=section&id=Capital%20equipment%20and%20software%20revenue) | Metric | Q2 2025 | Q2 2024 | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $1.0 million | $0.9 million | +11% | - The increase in this segment was primarily due to a rise in service revenue[9](index=9&type=chunk) [Profitability and Expenses](index=2&type=section&id=Profitability%20and%20Expenses) Gross margin for Q2 2025 declined to 60% from 63% in the prior-year period, primarily due to higher inventory reserves, while operating expenses increased by 16% to $11.2 million, driven by higher costs in R&D and personnel as the company invests in expansion - Gross margin decreased to **60%** for Q2 2025, compared to **63%** in Q2 2024, mainly due to higher excess and obsolete inventory reserves[10](index=10&type=chunk) - Operating expenses rose **16%** to **$11.2 million**, driven by increased product development costs, higher allowance for credit losses, and increased headcount in R&D and clinical organizations[11](index=11&type=chunk) [Liquidity and Capital Resources](index=2&type=section&id=Liquidity%20and%20Capital%20Resources) The company's cash position strengthened significantly, with cash and cash equivalents reaching $41.5 million at the end of Q2 2025, more than double the $20.1 million balance at year-end 2024, primarily from $32.0 million in net proceeds from a note payable and stock offering - Cash and cash equivalents totaled **$41.5 million** as of June 30, 2025, a substantial increase from **$20.1 million** at December 31, 2024[12](index=12&type=chunk) - The increase in cash was primarily due to net proceeds of **$32.0 million** from a note payable and stock offering, partially offset by **$8.7 million** used in operating activities[12](index=12&type=chunk) [Consolidated Financial Statements](index=5&type=section&id=Consolidated%20Financial%20Statements) [Consolidated Statements of Operations](index=5&type=section&id=Consolidated%20Statements%20of%20Operations) For the second quarter of 2025, ClearPoint Neuro reported total revenue of $9.2 million, a gross profit of $5.6 million, an operating loss of $5.7 million, and a net loss of $5.8 million or $(0.21) per share, compared to a net loss of $4.4 million or $(0.16) per share in the prior year | (in thousands, except per share data) | For the Three Months Ended June 30, 2025 | For the Three Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Total revenue** | $9,215 | $7,858 | | **Gross profit** | $5,556 | $4,988 | | **Operating loss** | $(5,680) | $(4,724) | | **Net loss** | $(5,837) | $(4,408) | | **Net loss per share (Basic and diluted)** | $(0.21) | $(0.16) | [Consolidated Balance Sheets](index=6&type=section&id=Consolidated%20Balance%20Sheets) As of June 30, 2025, the company's total assets significantly increased to $62.9 million from $39.2 million at year-end 2024, driven by a rise in cash to $41.5 million, while total liabilities also increased to $43.1 million due to a new long-term note payable of $28.8 million | (in thousands) | June 30, 2025 (Unaudited) | December 31, 2024 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $41,541 | $20,104 | | **Total current assets** | $53,991 | $33,363 | | **Total assets** | $62,869 | $39,189 | | **Long-term note payable, net** | $28,845 | $— | | **Total liabilities** | $43,126 | $13,800 | | **Total stockholders' equity** | $19,743 | $25,389 | [Consolidated Statements of Cash Flows](index=7&type=section&id=Consolidated%20Statements%20of%20Cash%20Flows) For the first six months of 2025, the company used $8.7 million in cash for operating activities, while financing activities provided $30.6 million, primarily from a note payable and common stock offerings, resulting in a net cash increase of $21.6 million | (in thousands) | For the Six Months Ended June 30, 2025 | For the Six Months Ended June 30, 2024 | | :--- | :--- | :--- | | **Net cash flows from operating activities** | $(8,724) | $(6,508) | | **Net cash flows from investing activities** | $(274) | $— | | **Net cash flows from financing activities** | $30,615 | $16,213 | | **Net change in cash** | $21,617 | $9,705 | | **Cash, cash equivalents and restricted cash, end of period** | $41,721 | $32,845 | [Other Information](index=2&type=section&id=Other%20Information) [Teleconference Information](index=2&type=section&id=Teleconference%20Information) The company will host a teleconference and webcast for investors and analysts to review its Q2 2025 financial results on Tuesday, August 12, 2025, at 4:30 p.m. Eastern time, with access details for the live event and a replay provided - An investor call is scheduled for August 12, 2025, at 4:30 p.m. ET to discuss the quarterly results, with a replay available until September 11, 2025[13](index=13&type=chunk)[14](index=14&type=chunk) [About ClearPoint Neuro](index=3&type=section&id=About%20ClearPoint%20Neuro) ClearPoint Neuro focuses on enabling precise navigation to the brain and spine for device, cell, and gene therapies, offering clinical products like its FDA-cleared ClearPoint Neuro Navigation System and preclinical development services to a global customer base - ClearPoint Neuro is a device, cell, and gene therapy-enabling company that provides precise navigation to the brain and spine for both clinical procedures and preclinical development[16](index=16&type=chunk) [Forward-Looking Statements](index=3&type=section&id=Forward-Looking%20Statements) This section provides a standard safe harbor statement, cautioning that statements regarding the company's future plans, growth, and financial performance are forward-looking and subject to significant risks and uncertainties, including macroeconomic conditions, regulatory changes, market acceptance of new products, and the success of its biopharma partners - The press release contains forward-looking statements concerning the company's plans, growth, and future performance, which are subject to inherent business risks and uncertainties[17](index=17&type=chunk) - Key risks identified include macroeconomic conditions, regulatory uncertainty, market acceptance for new products, and reliance on the commercial success of its biologics and drug delivery partners[17](index=17&type=chunk)

Company Overview - ClearPoint Neuro enables cell, gene, and device therapies by offering precise navigation to the brain and spine[6] - The company's platform includes clinical products for neurosurgeons and drug development services for BioPharma partners[6] - ClearPoint Neuro has built a complete drug delivery ecosystem over 15+ years[8] - The company has 100+ active global centers and 60+ partners across 20+ indications[8] Market Opportunity - The company estimates its current portfolio provides access to a ≈$500 million market opportunity[8] - ClearPoint Neuro sees a $10 billion potential diversified market[9] - Over 30 million people in the U S are estimated to suffer from severe and debilitating neurological disorders[10] - Neurological diseases cost Americans nearly $800 billion annually[10] Financial Performance - The company's 2024 revenue was $31.4 million[52] - As of June 30, 2025, the company had $41.5 million in cash and cash equivalents[52] - The company's gross margin is 60%[52] - The company's 2024 operational cash burn was ($9.0 million)[52]

Group 1 - ClearPoint Neuro's stock has faced pressure due to soft first-quarter results and additional capital raising, but strong consumables growth indicates underlying business progress [1] - System placements are highlighted as a positive aspect of ClearPoint's business performance [1] - Narweena, an asset manager, focuses on identifying market dislocations and believes in achieving excess risk-adjusted returns through secular growth opportunities in markets with barriers to entry [1] Group 2 - Narweena's research emphasizes company and industry fundamentals to uncover unique insights, with a high risk appetite and long-term investment horizon [1] - The aging population, low population growth, and stagnating productivity growth are expected to create new investment opportunities, differing from past trends [1] - Many industries may experience stagnation or secular decline, potentially improving business performance due to decreased competition [1] Group 3 - The economy is increasingly dominated by asset-light businesses, leading to a declining need for infrastructure investments over time [1] - A large pool of capital is pursuing a limited set of investment opportunities, resulting in rising asset prices and compressed risk premia [1] - Richard Durant, the leader of Narweena, has a strong educational background in engineering, finance, and an MBA, along with passing the CFA exams [1]

Company Overview - ClearPoint Neuro enables cell, gene, and device therapies by offering precise navigation to the brain and spine[6] - The company's platform includes clinical products for neurosurgeons and drug development services for BioPharma partners[6] - ClearPoint Neuro has built a complete drug delivery ecosystem over 15+ years, including navigation solutions, predictive modeling, delivery devices, infusion monitoring software, and clinical case support[8] - The company has 100+ active global centers and 60+ partners across 20+ indications[8] Market Opportunity - The company estimates a current portfolio provides access to a ≈$500 million market opportunity[8] - ClearPoint Neuro sees a $10 billion potential diversified market[9, 117] - Neurological diseases cost Americans nearly $800 billion annually[10] Financial Performance and Growth - The company's 2024 revenue was $31.4 million[51] - The company had $12.4 million in cash and cash equivalents as of March 31, 2025, excluding $33.5 million gross proceeds received on May 12, 2025[51, 52] - The gross margin was 61% for the trailing twelve months[51] - The company estimates 2025 revenue between $36 million and $41 million[52]

Industry Overview - The medical instruments industry is experiencing a transformative phase driven by the rapid adoption of generative artificial intelligence (genAI) and digital therapeutics, which are expected to significantly impact the healthcare sector [1] - Since early 2023, there has been mass adoption of AI and the Internet of Medical Things in digital healthcare options across hospitals and healthcare settings [1] Generative AI Impact - GenAI is demonstrating its capabilities in various healthcare fields, including administrative tasks, technological discovery, and clinical trials, by analyzing complex genetic and molecular data [2] - The technology is anticipated to enhance predictive treatment options and smart hospital systems [2] Investment Opportunities - It is advisable to invest in stocks from the Zacks-defined Medical Instrument industry that have a favorable Zacks Rank, with five selected stocks showing double-digit returns amid market volatility [3][4] Selected Stocks - **DexCom Inc. (DXCM)**: Benefiting from strong performance in the Sensor segment, with expected revenue and earnings growth rates of 14.3% and 23.2% respectively for the current year [7][8] - **IDEXX Laboratories Inc. (IDXX)**: Demonstrating robust strategic execution with expected revenue and earnings growth rates of 5.8% and 14% respectively for the current year [9][11] - **NeuroPace Inc. (NPCE)**: Focused on developing a brain-responsive neuromodulation system for treating drug-resistant focal epilepsy, with expected revenue and earnings growth rates of 18.1% and 15.1% respectively for the current year [12][13] - **Fresenius Medical Care AG (FMS)**: Benefiting from strong organic growth and operational improvements, with expected revenue and earnings growth rates of 1.6% and 28.3% respectively for the current year [14][15] - **ClearPoint Neuro Inc. (CLPT)**: Specializing in minimally invasive surgical procedures in the brain, with expected revenue and earnings growth rates of 24.1% and 11.4% respectively for the current year [16][17]

分组1 - ClearPoint Neuro, Inc. reported a quarterly loss of $0.22 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.15, representing an earnings surprise of -46.67% [1] - The company posted revenues of $8.49 million for the quarter ended March 2025, exceeding the Zacks Consensus Estimate by 2.85%, and showing an increase from $7.64 million in the same quarter last year [2] - ClearPoint Neuro has surpassed consensus revenue estimates three times over the last four quarters, while it has only surpassed consensus EPS estimates once in the same period [2] 分组2 - The stock has underperformed the market, losing about 11.3% since the beginning of the year compared to the S&P 500's decline of -0.6% [3] - The current consensus EPS estimate for the coming quarter is -$0.16 on revenues of $9.2 million, and for the current fiscal year, it is -$0.62 on revenues of $38.95 million [7] - The Medical - Instruments industry, to which ClearPoint Neuro belongs, is currently ranked in the top 31% of over 250 Zacks industries, indicating a favorable outlook for the sector [8]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $8.5 million, an 11% increase from $7.6 million in Q1 2024 [7] - Gross margin improved to 60%, up from 59% in Q1 2024 [9] - Cash and cash equivalents decreased to $12.4 million from $20.1 million at the end of 2024 [10] Business Line Data and Key Metrics Changes - Biologics and Drug Delivery revenue increased by 9% to $4.7 million, driven by a $1.2 million increase in product revenue [7][8] - Neurosurgery Navigation revenue grew 70% to $3.3 million, attributed to higher sales of new product offerings [8] - Capital Equipment and Software revenue decreased 63% to $500,000 due to fewer new placements of navigation and laser units [9] Market Data and Key Metrics Changes - The company activated two new sites in Q1 2025, expanding its installed base [51] - The single-use consumables business saw a growth rate of 104%, driven by increased orders from biopharma partners [13] Company Strategy and Development Direction - The company aims to extend its lead in cell and gene therapy through a comprehensive drug delivery ecosystem [4] - Plans to evolve the product portfolio to enhance hospital efficiency and throughput [5] - The company is focused on expanding its global installed base and generating scale for novel treatments [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential for additional cell and gene therapy platforms to gain approvals in the next two years [15] - The recent partnership with Overland Capital provides the company with foundational funding to execute its strategy [6][12] - Management anticipates that revenue growth will outpace expense growth for the full year [11][57] Other Important Information - The company has implemented a new subscription program called Pathfinder, allowing hospitals to access technology through annual fees [21] - The company expects to achieve GLP certification by the end of the year, which will enable larger studies and increased demand [42][47] Q&A Session Summary Question: What initiatives can be prioritized now that capital is available? - Management indicated opportunities to accelerate hiring for field support and preclinical resources to meet partner demands [29] Question: How does the new capital runway relate to achieving sustained breakeven? - Management believes the new debt facility can support cash breakeven, with expectations of generating meaningful cash flow in the coming years [31] Question: How is the neuro franchise tracking relative to expectations? - Management stated that the neuro franchise is on plan and expects significant growth throughout the year [34] Question: What is the expected mix of MRI versus OR procedures in the future? - Management anticipates a shift towards more OR procedures, but expects MRI procedures to remain crucial for drug delivery therapies [40][41] Question: What is the status of GLP certification and customer interest? - Management confirmed that they are on track for GLP certification and have received interest from pharma partners for studies once certified [42][46] Question: How are the new sites placed in terms of sales agreements? - Management clarified that the two new sites activated were capital placements, with additional systems placed under the Pathfinder agreements [51][52]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $8.5 million, an 11% increase from $7.6 million in Q1 2024 [7] - Gross margin improved to 60%, up from 59% in Q1 2024 [9] - Cash and cash equivalents decreased to $12.4 million from $20.1 million at the end of 2024 [10] Business Line Data and Key Metrics Changes - Biologics and Drug Delivery revenue increased by 9% to $4.7 million, driven by a $1.2 million increase in product revenue [7][8] - Neurosurgery Navigation revenue grew 70% to $3.3 million, attributed to higher sales of new product offerings [8] - Capital Equipment and Software revenue decreased 63% to $500,000 due to fewer new placements of navigation and laser units [9] Market Data and Key Metrics Changes - The company activated two new sites in Q1 2025, expanding its installed base [19][50] - The single-use consumables business saw a growth rate of 104%, driven by increased orders from biopharma partners [13] Company Strategy and Development Direction - The company aims to extend its lead in cell and gene therapy through a comprehensive drug delivery ecosystem [4] - Plans to evolve the product portfolio to enhance hospital efficiency and throughput [5] - The company is focused on expanding its global installed base and generating scale for novel treatments [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential for additional cell and gene therapy platforms to gain regulatory approval within two years [15] - The recent partnership with Overland Capital provides the company with foundational funding to execute its strategy [6][12] - Management anticipates that revenue growth will outpace expense growth for the full year [11][56] Other Important Information - The company has implemented a new subscription program called Pathfinder, allowing hospitals to access technology through an annual fee [21] - The Pathfinder program will smooth out capital revenue recognition over time [22] Q&A Session Summary Question: Opportunities with Incremental Capital - Management sees opportunities to accelerate hiring and expand preclinical resources in response to pharma partners' requests [29] Question: Neuro Franchise Growth Expectations - Management believes the neuro franchise can grow significantly more than 20% throughout the year, with potential upside based on product adoption [33] Question: MRI vs. OR Procedure Mix - Management anticipates a shift towards more procedures being performed in the operating room, especially as new drug therapies are introduced [39] Question: GLP Certification Timeline - Management expects to achieve GLP certification by the end of the year, with pent-up demand from pharma partners for studies once certified [42][44]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $8.5 million, an 11% increase from $7.6 million in Q1 2024 [7] - Gross margin improved to 60%, up from 59% in Q1 2024 [10] - Cash and cash equivalents decreased to $12.4 million from $20.1 million at the end of 2024 [11] Business Line Data and Key Metrics Changes - Biologics and Drug Delivery revenue increased by 9% to $4.7 million, driven by a $1.2 million increase in product revenue [8] - Neurosurgery Navigation revenue surged 70% to $3.3 million, attributed to higher sales of new product offerings [9] - Capital Equipment and Software revenue fell 63% to $500,000 due to fewer new placements of navigation and laser units [10] Market Data and Key Metrics Changes - The company activated two new sites in Q1 2025, which were both capital placements [51] - The introduction of the three point zero navigation software has allowed expansion into operating rooms, enhancing market reach [14] Company Strategy and Development Direction - The company aims to extend its lead in cell and gene therapy through a comprehensive drug delivery ecosystem [4] - Plans to evolve the product portfolio to focus on fast, simple, and predictable workflows to increase hospital efficiency [5] - The company is pursuing global scale by expanding its installed base and generating more access to its ecosystem [5] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential for additional cell and gene therapy platforms to gain approvals in the next two years [16] - The recent partnership with Overland Capital provides the company with the necessary funding to execute its strategy [6] - Management anticipates that operational cash burn will continue to increase but expects to generate meaningful cash flow as new drugs come online [31] Other Important Information - The company has implemented a Pathfinder subscription program to smooth capital revenue recognition over time [22] - The three point zero navigation software has been well received, with positive feedback from surgeons regarding efficiency and accuracy [18] Q&A Session Questions and Answers Question: Are there initiatives that can be prioritized now with access to incremental capital? - Management confirmed that there are opportunities to accelerate hiring and expand preclinical resources in response to partner requests [29] Question: How does the new capital runway relate to achieving sustained breakeven? - Management believes the new debt facility can support the company towards cash breakeven, especially with the flexibility of an interest-only period [31] Question: How is the neuro franchise tracking relative to expectations? - Management stated that the neuro franchise is on plan and expects significant growth throughout the year, with potential upside from new product launches [34] Question: What is the expected mix of MRI versus OR procedures in the future? - Management indicated that while MRI procedures currently dominate, there is potential for OR procedures to grow faster as new therapies are introduced [40] Question: What is the status of GLP certification and customer interest? - Management confirmed that they are on track for GLP certification by the end of the year and noted strong interest from pharma partners for studies once certified [42][46]

Financial Performance - Total revenue for Q1 2025 was $8.485 million, a 11.1% increase from $7.639 million in Q1 2024[20] - Product revenue increased to $5.291 million in Q1 2025, up 45.5% from $3.635 million in Q1 2024[20] - Gross profit for Q1 2025 was $5.132 million, compared to $4.525 million in Q1 2024, reflecting a gross margin improvement[20] - Net loss for Q1 2025 was $6.026 million, compared to a net loss of $4.146 million in Q1 2024, indicating increased operational costs[20] - Total revenue for the three months ended March 31, 2025, was $8.485 million, an increase of 11.1% compared to $7.639 million for the same period in 2024[71] Research and Development - Research and development costs rose to $3.379 million in Q1 2025, up 28.8% from $2.625 million in Q1 2024[20] - Research and development share-based compensation increased to $484,000 in Q1 2025, up from $337,000 in Q1 2024, reflecting a 43.7% rise[94] Cash and Liquidity - Cash and cash equivalents decreased to $12.387 million at the end of Q1 2025 from $20.104 million at the end of Q4 2024[25] - Cash and cash equivalents were $12.4 million as of March 31, 2025, down from $20.1 million at December 31, 2024, reflecting a decrease of 38.3%[78] - The company has evaluated its ability to continue as a going concern and determined that existing cash balances are sufficient to support operations for at least the next twelve months[34] Assets and Liabilities - Total assets decreased to $30.070 million as of March 31, 2025, down from $39.189 million as of December 31, 2024[18] - Total liabilities decreased to $10.083 million as of March 31, 2025, down from $13.800 million as of December 31, 2024[18] Customer and Revenue Recognition - The company recognizes revenue primarily from product sales, including neurosurgery navigation products and service revenue from development services and consultation[43] - As of March 31, 2025, one customer accounted for 12% of accounts receivable, while two customers represented 24% of accounts receivable as of December 31, 2024[61] - A pharmaceutical customer accounted for 9% of total sales for the three-month periods ended March 31, 2025, and 2024[62] - The company recognized approximately $0.8 million of revenue from deferred revenue during the three months ended March 31, 2025[75] Offerings and Financing - The company completed a follow-on public offering in March 2024, raising approximately $16.2 million from the sale of 2,653,848 shares of common stock[36] - The company has an At-the-Market Equity Offering Sales Agreement allowing for the sale of up to $50 million in common stock, but no shares have been issued under this agreement as of March 31, 2025[36] - The company repaid the remaining $10 million under a Securities Purchase Agreement in August 2024, which had raised gross proceeds of $25 million[37] - The company completed a public offering in March 2024, raising net proceeds of approximately $16.2 million from the sale of 2,653,848 shares at a price of $6.50 per share[91] - The company has not issued any shares under the At-The-Market (ATM) Agreement, which allows for sales of up to $50 million in common stock[92] - The company may sell notes up to an aggregate principal amount of $105 million under a note purchase agreement, with a minimum interest rate of 8.25%[106] Inventory and Deferred Revenue - Inventory totaled $6.689 million as of March 31, 2025, compared to $6.966 million at December 31, 2024, a decline of 4.0%[80] - Deferred revenues decreased to $1.975 million as of March 31, 2025, down from $2.557 million at December 31, 2024, indicating a reduction of 22.7%[75] - The company expects to recognize approximately 79% of the remaining performance obligations, valued at $1.7 million, over the next twelve months[76] Stock and Compensation - Share-based compensation expense for Q1 2025 totaled $1,908,000, an increase of 27% from $1,504,000 in Q1 2024[94] - The total unrecognized compensation expense as of March 31, 2025, is $13,499,000, with a weighted-average recognition period of 1.99 years[96] - The company has 1,352,615 stock options outstanding as of March 31, 2025, with an average exercise price of $6.16 and an intrinsic value of $8,897,000[97] - Restricted Stock Units (RSUs) granted in Q1 2025 totaled 541,771, with an average grant date fair value of $13.55[100] Business Operations - The company operates in one reportable segment, primarily generating revenue in the United States[101] - The company has not recorded significant foreign currency sales and does not currently engage in hedging transactions[158] - The company has over 60 biologics and drug delivery customers currently evaluating or using its products and services[32] - The ClearPoint Prism Neuro Laser Therapy System was commercialized in 2022, marking a significant product development milestone[31] Accounting Standards - The company is currently evaluating the impact of new accounting standards on its consolidated financial statements, including ASU 2023-07 and ASU 2023-09[65][68]