Financial Performance - Adjusted net loss for Q2 2024 was $16.8 million, or $2.86 per share, compared to an adjusted net loss of $20.4 million, or $4.82 per share, in Q2 2023[4] - The company reported a GAAP net loss of $15.2 million for Q2 2024, compared to a GAAP net loss of $15.3 million in Q2 2023[4] - Adjusted net loss for June 2024 was $16,795 thousand compared to $20,415 thousand in June 2023, showing an improvement of approximately 18%[18] - Adjusted EPS improved from $(4.82) in June 2023 to $(2.86) in June 2024, reflecting a positive change of about 40%[18] Operating Expenses - Vicarious Surgical reported operating expenses of $17.7 million for Q2 2024, a decrease of 17% from $21.5 million in Q2 2023[3] - R&D expenses for Q2 2024 were $10.9 million, down from $12.7 million in the same period last year[3] - General and administrative expenses decreased to $5.6 million in Q2 2024 from $7.1 million in Q2 2023[3] - Sales and marketing expenses were $1.2 million in Q2 2024, down from $1.7 million in the same period last year[3] Cash and Investments - The company had $73.2 million in cash and investments as of June 30, 2024, with a cash burn rate of $10.9 million for the quarter[4] - Vicarious Surgical expects a full year 2024 cash burn of approximately $50 million[4] - Cash and cash equivalents decreased from $52,822 thousand to $20,250 thousand, a decline of approximately 62%[16] Assets and Liabilities - Total current assets decreased from $100,953 thousand to $75,933 thousand, a decline of approximately 25%[16] - Total assets decreased from $119,864 thousand to $93,347 thousand, representing a reduction of about 22%[16] - Total liabilities decreased slightly from $21,895 thousand to $21,486 thousand, a reduction of about 2%[16] - Stockholders' equity decreased from $97,969 thousand to $71,861 thousand, a decline of approximately 27%[16] - The accumulated deficit increased from $(132,712) thousand to $(164,918) thousand, indicating a worsening financial position[16] Partnerships and Milestones - The company entered a partnership with LSU Health New Orleans, marking its fifth U.S. hospital system collaboration[3] - The V1.0 integration milestone is on track for this fall, with plans to advance towards the first clinical patient next year[2] Shareholder Information - Weighted average shares outstanding increased from 4,233,072 to 5,873,019, an increase of approximately 39%[18] - The change in fair value of warrant liabilities was $1,590 thousand for June 2024, compared to $5,081 thousand in June 2023, indicating a significant decrease[18]

Company Overview - Vicarious Surgical is a pioneering surgical robotics company focused on revolutionizing surgery through human-like robots that facilitate minimally invasive procedures, enhancing surgical efficiency, improving patient outcomes, and reducing healthcare costs [2][4] Partnership Details - Vicarious Surgical has entered a strategic development agreement with LSU Health New Orleans, which provides access to a vast network and expertise, aimed at refining training protocols and fostering surgeon adoption of its V1.0 surgical robot [1][3] - The partnership is expected to accelerate the validation and adoption of Vicarious Surgical's robotic platform, ultimately improving surgical outcomes and reducing healthcare costs [3] Product Development - The Vicarious Surgical robotic platform, Version 1.0 (V1.0), is designed to enhance surgical efficiency and patient outcomes while reducing healthcare costs through minimally invasive procedures [4] - The company plans to submit V1.0 for FDA approval by early to mid-2026, with cadaveric testing scheduled for spring and final refinements planned for fall [4] Industry Prospects - The surgical robots market was valued at $7.1 billion in 2023 and is projected to reach $26.4 billion by 2032, growing at a CAGR of 16.1%, driven by increased adoption of surgical robots, rising surgical procedures, and growing healthcare expenditures [5] Price Performance - Vicarious Surgical's shares (RBOT) have decreased by 45.6% this year, contrasting with a 3.6% rise in the industry and a 10% increase in the S&P 500 during the same period [6]

Vicarious Surgical (NYSE:RBOT) just reported results for the first quarter of 2024.Vicarious Surgical reported earnings per share of -9 cents. This met the analyst estimate for EPS of -9 cents.The company did not report any revenue for the quarter.InvestorPlace Earnings is a project that leverages data from TradeSmith to automate coverage of quarterly earnings reports. InvestorPlace Earnings distills key takeaways including earnings per share and revenue, as well as how a company stacks up to analyst estima ...

Vicarious Surgical Inc. (NYSE:RBOT) Q1 2024 Earnings Conference Call April 29, 2024 4:30 PM ET Company Participants Kaitlyn Brosco - Head, Investor Relations Adam Sachs - Co-Founder and CEO Bill Kelly - Chief Financial Officer Randy Clark - President Conference Call Participants Ryan Zimmerman - BTIG Adam Maeder - Piper Sandler Josh Jennings - TD Cowen Operator Hello. And welcome to Vicarious Surgical’s 2024 First Quarter Earnings Call. My name is Elliot, and I’ll be coordinating your call today. [Operator ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-39384 VICARIOUS SURGICAL INC. (Exact name of registrant as specified in its charter) | --- | --- | |--------------------------- ...

[Operational and Strategic Highlights](index=1&type=section&id=Operational%20and%20Strategic%20Highlights) Vicarious Surgical reported a productive start to 2024, highlighting the completion of its spring cadaver lab. The company is now focused on refining its V1.0 system in preparation for final system integration in the fall, remaining confident in its single-port offering's value proposition - The company completed its recent spring cadaver lab and is now focused on refining the V1.0 system[1](index=1&type=chunk) - Final system integration for the V1.0 system is planned for the fall of 2024[1](index=1&type=chunk) [Financial Performance](index=1&type=section&id=Financial%20Performance) In Q1 2024, Vicarious Surgical demonstrated improved operational efficiency with a **28%** year-over-year reduction in operating expenses to **$16.1 million**. The company narrowed both its GAAP and adjusted net losses and ended the quarter with **$84.1 million** in cash and investments. The full-year 2024 cash burn guidance of approximately **$50 million** was reiterated [Q1 2024 Financial Results Summary](index=1&type=section&id=Q1%202024%20Financial%20Results%20Summary) For the first quarter of 2024, Vicarious Surgical reported a significant **28%** decrease in total operating expenses compared to the prior year period, driven by reductions across R&D, G&A, and S&M. The company's adjusted net loss improved to **$15.1 million** (**$0.09** per share) from **$20.8 million** (**$0.17** per share) in Q1 2023. The quarter ended with a cash and investments balance of **$84.1 million**, with a cash burn of **$14.1 million** Q1 2024 vs Q1 2023 Operating Expenses (in millions) | Expense Category | Q1 2024 | Q1 2023 | Change | | :--- | :--- | :--- | :--- | | Total Operating Expenses | $16.1 | $22.3 | -28% | | R&D Expenses | $10.0 | $13.4 | -25% | | General & Administrative | $5.0 | $7.0 | -29% | | Sales & Marketing | $1.1 | $2.0 | -45% | Q1 2024 vs Q1 2023 Net Loss (in millions, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | GAAP Net Loss | $17.0 | $26.9 | | GAAP Net Loss Per Share | $0.10 | $0.21 | | Adjusted Net Loss | $15.1 | $20.8 | | Adjusted Net Loss Per Share | $0.09 | $0.17 | - The company held **$84.1 million** in cash and investments as of March 31, 2024, with a cash burn rate of **$14.1 million** for the first quarter[3](index=3&type=chunk) [Full Year 2024 Guidance](index=1&type=section&id=Full%20Year%202024%20Guidance) The company has reiterated its financial guidance for the full year 2024, maintaining its expectation for cash burn - Vicarious Surgical reiterates its expectation for full-year 2024 cash burn to be approximately **$50 million**[4](index=4&type=chunk) [Condensed Consolidated Statements of Operations](index=4&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) The unaudited statement of operations for the quarter ended March 31, 2024, shows a net loss of **$17.0 million**, an improvement from the **$26.9 million** net loss in the same period of 2023. The loss from operations also narrowed to **$16.1 million** from **$22.3 million** year-over-year Q1 2024 Statement of Operations Highlights (in thousands, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Total operating expenses | $16,109 | $22,315 | | Loss from operations | $(16,109) | $(22,315) | | Net loss | $(17,001) | $(26,922) | | Net loss per share | $(0.10) | $(0.21) | [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2024, Vicarious Surgical's balance sheet shows total assets of **$105.3 million** and total liabilities of **$21.3 million**. Total stockholders' equity stood at **$84.0 million**. Cash and cash equivalents were **$38.2 million**, supplemented by **$45.9 million** in short-term investments Balance Sheet Highlights (in thousands) | Metric | March 31, 2024 | Dec 31, 2023 | | :--- | :--- | :--- | | Cash and cash equivalents | $38,222 | $52,822 | | Total current assets | $87,111 | $100,953 | | Total assets | $105,286 | $119,864 | | Total current liabilities | $5,076 | $7,280 | | Total liabilities | $21,276 | $21,895 | | Total stockholders' equity | $84,010 | $97,969 | [Reconciliation of GAAP to Non-GAAP Financial Measures](index=6&type=section&id=Reconciliation%20of%20GAAP%20to%20Non-GAAP%20Financial%20Measures) The company provides a reconciliation of its GAAP net loss to its non-GAAP adjusted net loss. For Q1 2024, the GAAP net loss of **$17.0 million** was adjusted for a **$1.9 million** change in fair value of warrant liabilities, resulting in an adjusted net loss of **$15.1 million**, or **$0.09** per share GAAP to Non-GAAP Reconciliation (in thousands, except per share data) | Metric | Q1 2024 | Q1 2023 | | :--- | :--- | :--- | | Net loss (GAAP) | $(17,001) | $(26,922) | | Change in fair value of warrant liabilities | $(1,867) | $(6,079) | | Adjusted net loss (Non-GAAP) | $(15,134) | $(20,843) | | Adjusted EPS (Non-GAAP) | $(0.09) | $(0.17) | [Company Information and Disclosures](index=2&type=section&id=Company%20Information%20and%20Disclosures) This section provides standard company information and legal disclosures, including Vicarious Surgical's mission, its use of non-GAAP financial measures, and a forward-looking statements disclaimer - Vicarious Surgical, founded in 2014, is developing robotics technology to increase surgical efficiency, improve patient outcomes, and reduce healthcare costs by virtually transporting surgeons inside the patient[6](index=6&type=chunk) - The company uses non-GAAP measures such as Adjusted Net Loss and Adjusted EPS to help investors understand core operating results used by management for evaluation and planning[7](index=7&type=chunk) - The press release contains forward-looking statements that involve significant risks and uncertainties, and actual results may differ materially from expectations[11](index=11&type=chunk)

Vicarious Surgical Inc. (NYSE:RBOT) Q4 2023 Earnings Conference Call March 4, 2024 4:30 PM ET Company Participants Kaitlyn Brosco - IR Adam Sachs - CEO William Kelly - CFO Conference Call Participants Ryan Zimmerman - BTIG Operator Good afternoon, and welcome to Vicarious Surgical's Fourth Quarter 2023 Earnings Conference Call. My name is Matt, and I'll be your operator for today's call. At this time, all participants are in a listen-only mode. We will be facilitating a question-and-answer session towards t ...

Financial Performance - Vicarious Surgical achieved a full year 2023 cash burn objective of $63.4 million and narrowed full year 2024 cash burn guidance to approximately $50 million[1][7] - Adjusted net loss for Q4 2023 was $14.6 million, or $0.07 per share, compared to an adjusted net loss of $19.9 million, or $0.16 per share, in the same period of the prior year[5][7] - Net loss for the year was $71,071 in 2023 compared to a loss of $5,157 in 2022, indicating a significant increase in losses[21] - Adjusted net loss improved from $(19,889) in 2022 to $(14,597) in 2023, showing a reduction of approximately 26.5%[21] - Adjusted EPS improved from $(0.16) in 2022 to $(0.07) in 2023, indicating a positive trend in earnings per share[21] Operating Expenses - Operating expenses for Q4 2023 were $15.5 million, a decrease of 25% compared to $20.6 million in Q4 2022[3][5] - R&D expenses for Q4 2023 were $8.5 million, down from $11.9 million in Q4 2022[4] - Full year 2023 operating expenses totaled $80.7 million, slightly up from $80.1 million in 2022[6] - General and administrative expenses for the full year 2023 were $26.9 million, down from $29.7 million in 2022[6] Cash and Investments - The company ended 2023 with $98.2 million in cash and investments, positioning it well for future milestones[7] - The company successfully executed a $47 million equity follow-on offering, extending its cash runway[3] Assets and Liabilities - Total current assets decreased from $120,404 in 2022 to $100,953 in 2023, a decline of approximately 16.1%[19] - Total assets decreased from $140,291 in 2022 to $119,864 in 2023, representing a reduction of about 15.5%[19] - Total current liabilities decreased from $8,393 in 2022 to $7,280 in 2023, a decrease of approximately 13.3%[19] - Total liabilities decreased from $29,246 in 2022 to $21,895 in 2023, a decline of about 25.1%[19] - Stockholders' equity decreased from $111,045 in 2022 to $97,969 in 2023, a reduction of approximately 11.7%[19] Shareholder Information - The weighted average shares outstanding increased from 123,515,191 in 2022 to 175,123,050 in 2023, an increase of about 41.8%[21] Partnerships and Future Plans - Vicarious Surgical signed a fourth major U.S. hospital system agreement, increasing partner hospitals to over 250[3] - The integration of the Version 1.0 surgical system is expected to be completed in the fall of 2024[3][6] Fair Value of Warrant Liabilities - The change in fair value of warrant liabilities was $1,486 in December 2023 compared to $8,709 in December 2022, reflecting a decrease of approximately 83%[21]

Financial Performance - The company incurred a net loss of $71.1 million for the year ended December 31, 2023, compared to a net income of $5.2 million for 2022[128]. - The accumulated deficit as of December 31, 2023, was $132.7 million, indicating significant financial challenges since inception[132]. - The company anticipates continued significant losses for at least the next several years as it develops and commercializes the Vicarious Surgical System[128]. - The company may need to raise additional funding to support its operations and product development, which could affect shareholder rights and market price[134]. - The company has recorded a full valuation allowance related to its NOLs and other deferred tax assets due to uncertainty regarding the realization of future benefits[204]. Revenue Generation - The company has not generated any revenue from the sales of the Vicarious Surgical System to date, which is critical for future financial performance[128]. - Future revenue generation heavily depends on successful commercialization of the Vicarious Surgical System for ventral hernia repair and other surgical applications[129]. - Successful market acceptance of the Vicarious Surgical System is crucial for generating future revenue and achieving profitability[145]. - The company plans to expand its product applications to include gynecological, urological, and other general surgical uses[128]. Competition and Market Challenges - The company faces competition from established companies in the robotic-assisted surgical market, which may impact its market share and pricing strategies[143]. - Major competitors include Intuitive Surgical, Johnson & Johnson, and Medtronic, which have greater financial and marketing resources[156]. - The company may face pricing pressure from managed care organizations and increased competition, potentially leading to decreased prices for the Vicarious Surgical System[168]. - The introduction of new products by competitors and rapid technological changes could render the company's offerings obsolete[189]. Operational Risks - Manufacturing problems or delays could limit revenue growth and increase losses, impacting the ability to meet demand[169]. - The company relies on limited suppliers for key components, and losing these suppliers could disrupt operations and require redesigns[171]. - Quality issues could lead to product recalls, safety alerts, and reputational harm, impacting financial condition and cash flows[182]. - The company faces significant risks in establishing and maintaining adequate sales volumes, which could adversely affect operating performance[181]. Regulatory and Compliance Issues - The company is subject to extensive government regulation, which could restrict the development, marketing, sale, and distribution of its product candidates and technologies, potentially leading to significant costs[211]. - The FDA's review process for 510(k) clearance typically takes 90 to 180 days, while the PMA approval process can take from 180 days to over a year, affecting the timeline for product launches[214][216]. - The company must obtain FDA marketing authorization for the Vicarious Surgical System and any future product candidates before they can be marketed in the U.S.[220]. - Regulatory requirements may change, potentially increasing costs and complicating the marketing authorization process for new product candidates[225]. Intellectual Property Risks - The company relies on patent protection and other intellectual property rights, which may not adequately protect its competitive advantage[253]. - The patenting process is expensive and time-consuming, and the company may not be able to secure necessary patent rights in a timely manner[258]. - The success of the Vicarious Surgical System depends on avoiding infringement of third-party patents, with numerous existing patents in the field[268]. - The company may incur substantial costs defending against claims of patent infringement, which could divert management resources[270]. Internal Control and Governance - The company has identified material weaknesses in internal control over financial reporting for the years ended December 31, 2023, and 2022, which could result in misstatements of financial statements[198]. - The company has identified a material weakness in its internal controls over financial reporting, which could adversely affect investor confidence and business operations[304]. - The dual class structure of the company may lead to lower or more volatile market prices for its Class A common stock and could limit inclusion in certain indices, potentially affecting valuations[314]. Market and Economic Conditions - Economic downturns and inflation could weaken demand for the company's products and hinder capital raising efforts[190]. - Geopolitical conflicts, such as the wars in Ukraine and Israel, could disrupt operations and adversely impact sales[191]. - Changes in laws or regulations, or failure to comply with them, may adversely affect the company's business and results of operations[325].

WALTHAM, Mass.--(BUSINESS WIRE)--Vicarious Surgical Inc. (“Vicarious Surgical” or the “Company”) (NYSE: RBOT, RBOT WS), a next-generation robotics technology company seeking to improve patient outcomes as well as both the cost and efficiency of surgical procedures, today announced the Company will participate in the TD Cowen 44th Annual Healthcare Conference. Management is scheduled to present on Tuesday, March 5, 2024 at 2:10 p.m. ET. A live webcast of the presentation will be accessible to the public on ...