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: 001-38677 Ra Medical Systems, Inc. (Exact name of Registrant as specified in its charter) Delaware 38-3661826 (State or other jurisdiction of incor ...

Merger and Financial Requirements - Ra Medical Systems, Inc. is undergoing a merger with Catheter Precision, Inc., which is expected to close by early 2023, pending shareholder approval and other conditions[97][98]. - The company anticipates needing to raise between $2.0 million and $3.0 million to meet the $8.0 million "Net Cash" closing requirement for the merger[99]. - The company has substantial doubt regarding its ability to continue as a going concern for the next twelve months, particularly if the merger does not close[114]. Stock and Shareholder Actions - A reverse stock split of 1-for-50 was approved, reducing the number of outstanding shares from 68.2 million to 1.4 million[100]. - The company received a deficiency letter from NYSE American due to a low average share price of less than $0.20, but believes the reverse stock split has cured this deficiency[102]. - The company entered into an At-The-Market Sales Agreement with an aggregate offering price of up to $7.6 million, completing the sale of 1.1 million shares for net proceeds of $7.4 million[101]. Operational Changes and Workforce - A reduction in force resulted in approximately 65% of full-time employees being terminated, with additional layoffs affecting 20% of employees, totaling severance payments of approximately $0.9 million[107]. - Engineering activities have been paused, including the development of a new DABRA catheter, pending the merger's completion[108]. - Enrollment in the atherectomy clinical study was stopped at 108 subjects, with plans to complete six-month follow-ups by early 2023[106]. Financial Performance - Net revenue for the three months ended September 30, 2022, was $0, a decrease of $5,000 compared to the same period in 2021, while net revenue for the nine months ended September 30, 2022, was $14,000, down $3,000 from the prior year[121]. - Cost of revenue decreased by $246,000 and $1,052,000 for the three and nine months ended September 30, 2022, respectively, primarily due to the discontinuation of manufacturing activities in June 2022[123]. - Selling, general and administrative (SG&A) expenses for the three months ended September 30, 2022, were $3.5 million, a decrease of $697,000 compared to the same period in 2021, while SG&A expenses for the nine months ended September 30, 2022, were $8.3 million, down $2.993 million year-over-year[124][125]. - Research and development (R&D) expenses for the three months ended September 30, 2022, were $727,000, a decrease of $2.215 million compared to the same period in 2021, and for the nine months ended September 30, 2022, R&D expenses were $6.238 million, down $2.283 million year-over-year[126][127]. - Restructuring and impairment charges were $542,000 for the three months and $4.069 million for the nine months ended September 30, 2022, due to severance expenses and inventory obsolescence[128]. - Adjusted EBITDA for the three months ended September 30, 2022, was $(4.091) million, a decrease of $2.9 million compared to the same period in 2021, while for the nine months ended September 30, 2022, it was $(13.873) million, down $4.7 million year-over-year[134]. Cash Flow and Liquidity - As of September 30, 2022, the company had cash and cash equivalents of $13.7 million, with a need to raise additional financing between $2.0 million and $3.0 million to meet merger requirements[136][138]. - Net cash used in operating activities for the nine months ended September 30, 2022, was $(19.543) million, compared to $(21.914) million for the same period in 2021[140]. - The company improved liquidity resources during 2022 with total net proceeds of $23.5 million from private placements and warrant exercises[138]. - Net cash provided by financing activities for the nine months ended September 30, 2022, was $18.2 million, primarily from net proceeds of $13.6 million from public offerings and $5.7 million from Series A warrants[144]. - Cash and cash equivalents as of September 30, 2022, were $13.7 million, with no material exposure to interest rate changes due to the short-term nature of these assets[149]. - The company experienced changes in operating assets and liabilities of $4.5 million for the nine months ended September 30, 2022[141]. - The company paid $1.1 million in offering costs related to financing activities for the nine months ended September 30, 2022[144]. Accounting and Economic Conditions - There were no significant changes to critical accounting policies and estimates, except for a change in the estimated useful life of lasers to eight years effective January 1, 2022[146]. - The company does not believe inflation has had a material effect on its business or financial condition, but acknowledges potential risks if costs become subject to significant inflationary pressures[150].

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 June 30, 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 orga ...

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 ...

Financial Performance - Ra Medical Systems, Inc. reported net revenue of $9,000 for the three months ended March 31, 2022, compared to $4,000 in the same period of 2021, reflecting an increase due to catheter sales to clinical trial sites [96]. - For the three months ended March 31, 2022, the company reported a loss from continuing operations of $5.5 million, an improvement from a loss of $6.9 million in the same period of the prior year [106]. - Adjusted EBITDA for the same period was $(5.1) million, a decrease in negative Adjusted EBITDA of $0.9 million compared to $(6.0) million in the prior year, primarily due to reduced SG&A expenses [106]. - Net cash used in operating activities was $8.6 million for the three months ended March 31, 2022, compared to $8.1 million in the same period of 2021 [119]. - The company raised $11.2 million in net cash from financing activities during the three months ended March 31, 2022, primarily from a public offering [122]. Cost Management - The cost of revenue decreased by $352,000 to $95,000 for the three months ended March 31, 2022, primarily due to reductions in labor and overhead costs from cost-saving initiatives [99]. - Selling, general and administrative (SG&A) expenses decreased by $1.4 million to $2.3 million for the three months ended March 31, 2022, driven by reductions in stock-based compensation, legal expenses, and personnel costs [100]. Research and Development - Research and development (R&D) expenses increased by $365,000 to $3.1 million for the three months ended March 31, 2022, mainly due to higher costs associated with next-generation catheter engineering efforts and clinical study expenses [101]. - The company is conducting research on using DABRA-derived technology for lithotripsy to fracture calcium in arteries, with plans for a preclinical study in the near future [85]. Strategic Initiatives - The company is exploring strategic alternatives that may include financing for the atherectomy trial or a potential business combination, with a focus on maximizing stockholder value [86]. - The company is reviewing strategic alternatives that may include financing for clinical trials or potential business combinations [114]. Operational Challenges - The ongoing COVID-19 pandemic continues to impact the company's operations, particularly in terms of clinical trial enrollment and manufacturing delays [89]. - The company anticipates that the COVID-19 pandemic will continue to negatively impact its clinical trial enrollment and financing efforts [109]. - There is substantial doubt regarding the company's ability to continue as a going concern for the next twelve months, which may hinder its ability to secure financing or complete strategic transactions [88]. - There is substantial doubt regarding the company's ability to continue as a going concern for at least 12 months from the date of the financial statements [116]. Financial Position - As of March 31, 2022, the company had cash and cash equivalents of $17.7 million and an accumulated deficit of $183.8 million [107]. - As of March 31, 2022, the company had cash and cash equivalents of $17.7 million [128]. - The company's investment policy focuses on liquidity and capital preservation, avoiding trading or speculative investments [128]. - A hypothetical 10% relative change in interest rates would not have materially impacted the company's financial statements [128]. - The company does not believe inflation has materially affected its business or financial condition [129]. - Significant inflationary pressures could lead to higher costs that the company may not fully offset, potentially harming its operations [129]. Sales and Marketing - The company is currently not selling commercial products and is only providing catheters for its atherectomy clinical trial [91]. - The company has experienced a decrease in its DABRA sales force from 34 employees in June 2019 to 6 clinical specialists as of March 31, 2022 [109].

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].