Ra Medical Systems, Inc. (RMED) Q1 2022 Earnings Conference Call May 16, 2022 4:30 PM ET Company Participants Bruce Voss - LHA Will McGuire - Chief Executive Officer Andrew Jackson - Chief Financial Officer Conference Call Participants Jeffrey Cohen - Ladenburg Thalmann Operator Good day, and welcome to the Ra Medical Systems First Quarter 2022 Earnings Conference Call. [Operator Instructions] Please note, this event is being recorded. I would now like to turn the conference over to Bruce Voss. Please go a ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended March 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: 001-38677 Ra Medical Systems, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or org ...

Ra Medical Systems, Inc. (RMED) Q4 2021 Earnings Conference Call March 23, 2022 4:30 PM ET Company Participants Jody Cain - IR, LHA Investor Relations Will McGuire - Chief Executive Officer and Director Andrew Jackson - Chief Financial Officer Conference Call Participants Jeffrey Cohen - Ladenburg Thalmann Vernon Bernardino - HC Wainwright Operator Good afternoon. And welcome to the Ra Medical Conference Call. All participants will be in listen-only mode. [Operator Instructions] Please note this event is b ...

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, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION item13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission file number: 001-38677 Ra Medical Systems, Inc. (760) 804-1648 (Registrant's telephone number, including area code) Securities registered pursuant to Sectio ...

Ra Medical Systems, Inc. (RMED) Q3 2021 Earnings Conference Call November 15, 2021 4:30 PM ET Corporate Participants Jody Cain - LHA Investor Relations Will McGuire - Chief Executive Officer Andrew Jackson - Chief Financial Officer Conference Call Participants Vernon Bernardino - HC Wainwright Operator Hello and welcome to the Ra Medical Systems Third Quarter 2021 Financial Results Conference Call. All participants are now in a listen-only mode. [Operator Instructions] Please note today’s event is being rec ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Quarterly Period Ended September 30, 2021 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: 001-38677 Ra Medical Systems, Inc. (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or ...

Revenue Performance - Total net revenue for Q2 2021 was $1,005,000, an increase of 11.7% compared to $900,000 in Q2 2020[113]. - Product sales increased to $318,000 in Q2 2021 from $154,000 in Q2 2020, a growth of 106.5%[113]. - Service and other revenue decreased to $687,000 in Q2 2021 from $746,000 in Q2 2020, a decline of 7.9%[113]. - Total net revenue for the three months ended June 30, 2021, was $1.005 million, an increase of $105,000 compared to $900,000 in 2020[115]. - Vascular segment net revenue decreased to $9,000 for the three months ended June 30, 2021, down from $78,000 in 2020, a decline of approximately 88.5%[116]. - Dermatology segment net revenue increased to $996,000 for the three months ended June 30, 2021, up from $822,000 in 2020, an increase of approximately 21.2%[119]. Expenses and Losses - Gross loss for Q2 2021 was $(483,000), compared to $(267,000) in Q2 2020, reflecting a deterioration of 81%[113]. - Selling, general and administrative expenses decreased significantly to $3,741,000 in Q2 2021 from $7,896,000 in Q2 2020, a reduction of 47.4%[113]. - Research and development expenses increased to $3,018,000 in Q2 2021 from $1,953,000 in Q2 2020, an increase of 54.6%[113]. - The operating loss for Q2 2021 was $(7,242,000), an improvement of 28.5% compared to $(10,116,000) in Q2 2020[113]. - Gross loss for the three months ended June 30, 2021, was $483,000, compared to a gross loss of $267,000 in 2020, an increase of approximately 80.9%[126]. - Selling, general and administrative (SG&A) expenses decreased to $3.7 million for the three months ended June 30, 2021, down from $7.9 million in 2020, a decrease of approximately 53.2%[133]. - Research and development (R&D) expenses increased to $3.0 million for the three months ended June 30, 2021, up from $2.0 million in 2020, an increase of 50%[135]. - Adjusted EBITDA for the three months ended June 30, 2021, was negative $6.1 million, an improvement from negative $8.4 million in 2020[142]. Cash Flow and Financing - As of June 30, 2021, the company had cash and cash equivalents of $20.2 million and an accumulated deficit of $165.7 million[144]. - Net cash used in operating activities for the six months ended June 30, 2021, was $14.7 million, compared to $12.8 million for the same period in 2020[150][151]. - Net cash provided by financing activities was $10.6 million for the six months ended June 30, 2021, primarily from an "at the market" offering[154]. - Net cash provided by investing activities was $0.5 million for the six months ended June 30, 2021, a significant decrease from $16.0 million in the same period in 2020[153]. Future Outlook and Concerns - The company expects net revenue to continue to be negatively impacted by the COVID-19 pandemic, as patients postpone voluntary treatments and physician offices operate at reduced capacity[118]. - The company expects operating losses and negative cash flows to continue due to costs related to clinical trials and ongoing litigation, exacerbated by the COVID-19 pandemic[145]. - The company plans to address liquidity concerns by potentially raising additional funds through public or private equity or debt financings[148]. - Future capital requirements will depend on the successful completion of clinical trials and the revenue generated from product sales, particularly DABRA and Pharos products[147]. - The company incurred significant legal and related expenses, which are expected to remain high in the near term due to ongoing legal proceedings[146]. - The company continues to analyze opportunities for cost reductions, including potential workforce reductions and deferring capital expenditures[145]. - The company has raised substantial doubt about its ability to continue as a going concern for at least 12 months from the date of the financial statements due to ongoing uncertainties[148]. Clinical and Product Development - The company enrolled 69 subjects in its pivotal study for atherectomy indication as of August 2, 2021, with the study approved for up to 100 subjects[100]. - The DABRA catheter's shelf life is expected to be at least six months based on internal real-time aging test data[98]. - The company is evaluating multiple strategic options for its dermatology business, including potential investments and partnerships[102].

Revenue Performance - Total net revenue for the three months ended March 31, 2021, was $1.118 million, a decrease of $256,000 from $1.374 million in the same period of 2020[107]. - Product sales decreased to $406,000 in Q1 2021 from $586,000 in Q1 2020, a decline of 30.7%[107]. - Service and other revenue also declined to $712,000 in Q1 2021 from $788,000 in Q1 2020, a decrease of 9.6%[107]. - The vascular segment generated minimal revenue of $4,000 in Q1 2021 compared to $113,000 in Q1 2020, reflecting a decrease of 96.5%[109]. - Dermatology segment revenue was $1.114 million in Q1 2021, down from $1.261 million in Q1 2020, a decrease of approximately 11.7%[111]. Expenses and Losses - Gross loss for Q1 2021 was $255,000, compared to a gross loss of $210,000 in Q1 2020, indicating a worsening of 21.4%[107]. - Total operating expenses decreased to $6.930 million in Q1 2021 from $7.580 million in Q1 2020, a reduction of $650,000[107]. - Research and development expenses increased to $2.816 million in Q1 2021 from $1.295 million in Q1 2020, an increase of 117.5%[107]. - SG&A expenses decreased by $2.2 million to $4.1 million, primarily due to reductions in legal expenses and other cost-saving measures[118]. - Management expects continued operating losses and negative cash flows due to ongoing clinical trials and the impact of the COVID-19 pandemic[128]. Cash Flow and Financial Position - Net cash used in operating activities was $8.1 million for the three months ended March 31, 2021, compared to $7.0 million in 2020[134][135]. - Cash and cash equivalents as of March 31, 2021, were $16.0 million, with an accumulated deficit of $160.4 million[127]. - Adjusted EBITDA was negative $6.1 million for the three months ended March 31, 2021, slightly improved from negative $6.2 million in 2020[126]. - As of March 31, 2021, the company had cash and cash equivalents of $16.0 million, which included net proceeds of $19.1 million from 2020 public offerings and $2.0 million from a Paycheck Protection Program loan[144]. Operational Impact and Future Outlook - The company expects continued negative impacts on revenue due to the COVID-19 pandemic, affecting both patient treatments and clinical trial enrollments[97]. - The company is focusing on obtaining an atherectomy indication for the DABRA catheter, with a pivotal study approved for up to 10 clinical sites and 100 subjects[93]. - Research and development expenses increased by $1.5 million to $2.8 million, driven by personnel, consulting expenses, and clinical study costs related to next-generation catheters[120]. Financial Policies and Risks - The company does not engage in off-balance sheet arrangements and had no material changes to contractual obligations during the reported period[141][142]. - A hypothetical 10% relative change in interest rates would not have had a material impact on the company's financial statements due to the short-term nature of cash and cash equivalents[145]. - Revenue is primarily denominated in U.S. dollars, and a 10% adverse change in foreign exchange rates would not have been material for the periods presented[146]. - The company has not entered into any material foreign currency hedging contracts but may consider doing so in the future as operations grow internationally[146]. - Inflation has not had a material effect on the company's business, but significant inflationary pressures could harm its financial condition[147]. - There have been no significant changes to critical accounting policies or estimates since the last annual report[139]. - The company believes that actual results may differ from estimates and assumptions made in financial reporting, which could be material[140]. - The investment policy focuses on liquidity and capital preservation, avoiding trading or speculative investments[144]. - The company does not have material exposure to changes in the fair value of assets due to interest rate fluctuations[145].

Ra Medical Systems, Inc. (RMED) Q1 2021 Earnings Conference Call May 11, 2021 4:30 PM ET Company Participants Jody Cain - LHA Investor Relations Will McGuire - Chief Executive Officer Andrew Jackson - Chief Financial Officer Conference Call Participants Operator Welcome to the Ra Medical Systems First Quarter 2021 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] At this time, I'd like to turn the conference call over to Jody Cain. Please go ahead. Jo ...

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, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION item13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the Transition Period From to Commission file number: 001-38677 Ra Medical Systems, Inc. (Exact name of Registrant as specified in its charter) Delaware 38-3661826 (State or other jurisdiction of i ...