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 June 30, 2023 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) | --- | |---------------------------------- ...

Vicarious Surgical, Inc. (NYSE:RBOT) Q1 2023 Earnings Conference Call May 8, 2023 4:30 PM ET Company Participants Kaitlyn Brosco - Investor Relations Adam Sachs - Chief Executive Officer Bill Kelly - Chief Financial Officer Conference Call Participants Kyle Rose - Canaccord Operator Good afternoon, and welcome to Vicarious Surgical's First Quarter 2023 Earnings Conference Call. My name is Alisa, and I will be your operator for today's call. At this time, all participants are in a listen-only mode. We'll be ...

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, 2023 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) | --- | --- | |--------------------------- ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 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) (State or other jurisdiction of incorpo ...

Vicarious Surgical, Inc. (NYSE:RBOT) Q4 2022 Earnings Conference Call February 13, 2023 4:30 PM ET Company Participants Kaitlyn Brosco - IR Adam Sachs - Co-Founder, CEO, President & Director William Kelly - CFO & Treasurer Conference Call Participants Ryan Zimmerman - BTIG Eric Anderson - Cowen and Company Adam Maeder - Piper Sandler & Co. Kyle Rose - Canaccord Genuity Operator Good afternoon, and welcome to the Vicarious Surgical's Fourth Quarter 2022 Earnings Conference Call. My name is Tia, and I will be ...

Financial Data and Key Metrics Changes - Total operating expenses for Q3 2022 were $22.2 million, up from $8.6 million in the prior year period, primarily due to increased investment in development and team expansion [12] - Adjusted net loss for Q3 2022 was $21.7 million, or $0.18 per share, compared to an adjusted net loss of $8.6 million, or $0.09 per share in the same period last year [12] - GAAP net loss for Q3 2022 was $24.7 million, equating to a basic and diluted net loss of $0.20 per share, compared to a net loss of $45 million, or $0.49 per share in the prior year [12] - Cash burn for Q3 2022 was $14.5 million, with an ending cash balance of $127 million [13] - Full year 2022 cash burn is now expected to be approximately $65 million to $70 million, down from the previous estimate of $65 million to $75 million [14] Business Line Data and Key Metrics Changes - The company completed the integration phase of its Beta 2 system build, focusing on ergonomics, surgeon input, and visualization [6] - The Beta 2 system enhancements include improved imaging and enhanced sensing and motion capabilities [6] Market Data and Key Metrics Changes - The company has established partnerships with HCA Healthcare and UH, formalized through Center of Excellence agreements, to support the development and commercialization of its technology [7] - A new strategic collaboration agreement was executed with Pittsburgh CREATES, providing access to resources for clinical verification and validation [8][9] Company Strategy and Development Direction - The primary focus remains on system finalization and preparing for regulatory submissions, with plans for multiple indications including inguinal hernia and hysterectomy [10] - The company aims to ensure its product meets the needs of patients, surgeons, hospitals, and payers [21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism regarding the engagement and receptiveness of hospital systems to the economic benefits of their technology [17] - The company continues to face supply chain challenges, particularly with semiconductor delays, but has implemented effective mitigation strategies [25] Other Important Information - The Beta 2 Demonstration Day is scheduled for December 6, where the finalized system will be showcased [15] Q&A Session Summary Question: Receptiveness of hospitals to economic benefits - Management noted that hospitals have been incredibly receptive to the economic benefits, focusing on patient outcomes while also needing to ensure profitability [17] Question: Preview of Beta 2 Demonstration Day - The event will showcase the Beta 2 system and include cadaver procedure videos, providing an opportunity for Q&A with surgeons and partners [19] Question: Insights from University of Pittsburgh agreement - The agreement offers additional insights, particularly regarding payer needs, complementing existing partnerships with HCA and UH [21] Question: Supply chain challenges - Management confirmed ongoing supply chain challenges but emphasized effective planning and mitigation efforts [25]

Financial Performance - As of September 30, 2022, the company is pre-revenue generating and reported a net gain of $16,337 for the nine months ended September 30, 2022, compared to a net loss of $56,993 for the same period in 2021, representing a period-over-period gain of $73,330[147]. - The company incurred a net loss of $24,737 for the three months ended September 30, 2022, compared to a net loss of $45,124 for the same period in 2021, representing a 45% improvement[163]. - The company expects net losses to continue as it invests in commercialization and new product development[177]. Revenue Generation - The company does not expect to generate revenue until at least 2024, contingent upon receiving FDA approval for its product[154]. Expenses - Research and development expenses for the three months ended September 30, 2022, increased by $6,931, or 134%, to $12,120 compared to $5,189 for the same period in 2021[163]. - Total operating expenses for the three months ended September 30, 2022, were $22,162, a 159% increase from $8,561 in the same period in 2021[163]. - Sales and marketing expenses increased by $3,232, or 232%, to $4,625 for the nine months ended September 30, 2022, compared to $1,393 for the same period in 2021[173]. - General and administrative expenses rose by $16,614, or 268%, to $22,820 during the nine months ended September 30, 2022, compared to $6,206 in the same period in 2021[174]. - Research and development expenses increased by $19,219, or 150%, to $32,023 for the nine months ended September 30, 2022, compared to $12,804 for the same period in 2021[172]. Cash Flow - Net cash used in operating activities was $42,802 for the nine months ended September 30, 2022, compared to $23,545 for the same period in 2021[184]. - Cash and cash equivalents as of September 30, 2022, were $126,797, with an accumulated deficit of $50,461[177]. - Net cash provided by financing activities was $333 for the nine months ended September 30, 2022, compared to $192,650 for the same period in 2021[187]. Investment and Financing - The company filed a universal shelf registration statement for the sale of up to $400 million of various securities, including $100 million of common stock[180]. - Interest income increased by $602 during the nine months ended September 30, 2022, compared to the same period in 2021, primarily due to higher interest rates and a larger average cash balance[175]. Company Structure and Regulations - Following the Business Combination, the company qualifies as an "emerging growth company" under the JOBS Act, allowing it to adopt new accounting standards within the same time periods as private companies[194]. - The company intends to take advantage of reduced regulatory and reporting requirements for emerging growth companies, including exemptions from certain auditor attestation requirements[195]. - The company is classified as a smaller reporting company and is not required to provide certain market risk disclosures[196]. - The company has never paid cash dividends and does not anticipate doing so in the foreseeable future[192]. Market Potential - The company estimates that over 39 million soft tissue surgical procedures are addressable by its technology, with more than 50% currently performed using open surgery[140]. - The company’s single-port system aims to improve patient outcomes and enhance adoption by addressing significant limitations of existing surgical systems[146]. Fair Value and Liabilities - The change in fair value of warrant liabilities for the three months ended September 30, 2022, was a loss of $3,038, compared to a loss of $36,532 in the same period in 2021, reflecting a 92% improvement[163]. - The change in fair value of warrant liabilities resulted in a gain of $111,823 during the nine months ended September 30, 2022, compared to a loss of $36,532 in the same period in 2021[175]. - The fair value of the company's stock options is determined using a Black-Scholes pricing model, with key assumptions based on stock price, expected volatility, and expected term[192]. Workforce - The average headcount increased by 72% from 78 people in the nine months ended September 30, 2021, to 134 people for the same period in 2022, with general and administrative headcount increasing by 142%[147]. Economic Factors - The company continues to monitor the impact of global economic factors, including inflation and supply chain disruptions, on its operations[150].

Financial Data and Key Metrics Changes - Total operating expenses for Q2 2022 were $19.1 million, up from $6.6 million in the prior year, primarily due to investments in the development of the Beta 2 platform and team expansion [17] - Adjusted net loss for Q2 2022 was $19.1 million, equating to an adjusted net loss of $0.16 per share, compared to an adjusted net loss of $6.6 million or $0.08 per share for the same period last year [17] - GAAP net loss for Q2 2022 was $1.5 million, equating to a basic and diluted net loss of $0.01 per share, compared to a net loss of $6.6 million or a basic net loss of $0.08 per share for the same period last year [18] - Cash burn for Q2 2022 was $15.7 million, with an ending cash balance of $141 million [18] Business Line Data and Key Metrics Changes - The company has executed center of excellence agreements with HCA Healthcare and University Hospital, which will support the development and commercialization of its surgical robotics platform [7][8] - The Beta 2 robotic platform is in the integration phase, with positive feedback on ergonomic prototypes [14] Market Data and Key Metrics Changes - The company is addressing a significant market opportunity, as over 50% of the 39 million annual procedures that could be performed using surgical robots are still done using open surgical techniques [9] - The partnerships with over 200 hospitals through center of excellence agreements are expected to enhance the company's market presence and commercial strategy [12] Company Strategy and Development Direction - The company aims to leverage next-generation robotic technology to improve surgical outcomes and address the limitations of current surgical techniques [9][10] - The focus is on developing a platform that meets the needs of hospitals and surgeons, with an emphasis on collaboration and feedback from leading surgeons [11][13] - The company is also working to mitigate supply chain challenges by building internal redundancies and multi-sourcing key components [15] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in navigating supply chain challenges, although they acknowledged risks to timelines due to semiconductor shortages [15] - The company is optimistic about its position in the market and the potential for widespread commercial adoption of its technology [16] Other Important Information - The company plans to share more details about the Beta 2 robotic platform and its capabilities later in the year [14] - Management highlighted the importance of differentiation in the robotic surgery market and the positive reception of their technology at industry conferences [20][21] Q&A Session Summary Question: Updates on FDA discussions regarding trial design for Ventral Hernia Indication - Management reported positive and collaborative discussions with the FDA, but refrained from providing specific timelines for trial design finalization [24] Question: Impact of supply chain challenges on Beta 2 unit design - Management indicated that sourcing challenges have impacted design and development efforts, but they have successfully adapted by redesigning components [30][31] Question: Availability of the simulator to hospitals and testing of other use cases - The simulator is currently available for internal testing and close partners, with plans to expand access in the future [36] Question: Insights on Center of Excellence agreements and future collaboration - Management noted a positive reception from hospital systems and emphasized the long-term nature of these partnerships for system development and patient care improvement [40][41]