ClearPoint Neuro(CLPT) - 2025 Q1 - Quarterly Results

ClearPoint Neuro First Quarter 2025 Results First Quarter 2025 Highlights ClearPoint Neuro achieved record Q1 2025 revenue of $8.5 million, an 11% increase, driven by a 104% surge in consumable products and strategic advancements Q1 2025 Key Performance Indicators | Metric | Q1 2025 | Change (YoY) | | :--- | :--- | :--- | | Total Revenue | $8.5 million | +11% | | Total Consumable Product Revenue | $5.3 million | +104% | | Cash and Cash Equivalents (as of Mar 31) | $12.4 million | N/A | - The CEO highlighted that the company is entering a "Fast Forward phase," with foundational investments in biopharma partnerships, operating room navigation, and laser therapy now yielding significant growth[3] - The company secured a long-term credit facility and an equity investment from Oberland Capital, enhancing balance sheet flexibility to achieve strategic goals[3] - Received FDA Clearance for the ClearPoint 3.0 Software, which is now in Full Market Release and contributing to revenue and case volume growth[4] Financial Results – Quarter Ended March 31, 2025 Q1 2025 saw 11% revenue growth to $8.5 million and improved gross margin to 60%, but operating expenses rose 29% to $11.3 million, widening the operating loss to $6.2 million Revenue Analysis Revenue growth was driven by a 70% increase in Neurosurgery navigation and therapy sales and a 9% rise in Biologics and drug delivery, while Capital equipment revenue declined 63% Q1 Revenue Breakdown (in millions) | Revenue Segment | Q1 2025 | Q1 2024 | Change (YoY) | | :--- | :--- | :--- | :--- | | Total Revenue | $8.5 | $7.6 | +11% | | Biologics and Drug Delivery | $4.7 | $4.3 | +9% | | Neurosurgery Navigation and Therapy | $3.3 | $1.9 | +70% | | Capital Equipment and Software | $0.5 | $1.4 | -63% | - The increase in Neurosurgery revenue was driven by higher sales for new product offerings and an expanded customer base[8] - The decrease in Capital equipment revenue was primarily attributed to the timing of installations[9] Profitability and Expenses Gross margin improved to 60%, but operating expenses increased 29% to $11.3 million due to higher personnel and R&D costs, resulting in a net loss of $6.0 million Q1 Profitability Metrics (in millions, except per share data) | Metric | Q1 2025 | Q1 2024 | | :--- | :--- | :--- | | Gross Profit | $5.1 | $4.5 | | Gross Margin | 60% | 59% | | Operating Expenses | $11.3 | $8.7 | | Operating Loss | ($6.2) | ($4.2) | | Net Loss | ($6.0) | ($4.1) | | Net Loss Per Share | ($0.22) | ($0.16) | - The 29% increase in operating expenses was mainly due to higher personnel-related costs, increased product development, a higher allowance for credit losses, and greater professional and regulatory fees[11] Financial Position Cash and cash equivalents decreased to $12.4 million by March 31, 2025, primarily due to $6.2 million in cash used for operating activities Cash and Cash Equivalents (in millions) | Date | Amount | | :--- | :--- | | March 31, 2025 | $12.4 | | December 31, 2024 | $20.1 | - The decrease in cash was driven by $6.2 million used in operating activities and $1.3 million for tax payments on equity awards[12] Business Outlook The company reaffirmed its full-year 2025 revenue guidance, projecting total revenue between $36.0 million and $41.0 million - Full year 2025 revenue outlook is reaffirmed to be between $36.0 million and $41.0 million[5] Consolidated Financial Statements Unaudited consolidated financial statements for Q1 2025 show a net loss of $6.0 million, total assets of $30.1 million, and a $7.7 million net decrease in cash Consolidated Statements of Operations Q1 2025 revenue was $8.5 million, resulting in a net loss of $6.0 million, or ($0.22) per share, compared to a $4.1 million loss in Q1 2024 Consolidated Statements of Operations (Unaudited, in thousands, except per share data) | | For the Three Months Ended March 31, | | :--- | :--- | :--- | | | 2025 | 2024 | | Total revenue | $8,485 | $7,639 | | Gross profit | $5,132 | $4,525 | | Operating loss | $(6,163) | $(4,216) | | Net loss | $(6,026) | $(4,146) | | Basic and diluted net loss per share | $(0.22) | $(0.16) | | Weighted average shares outstanding | 27,718,918 | 25,452,096 | Consolidated Balance Sheets As of March 31, 2025, total assets were $30.1 million, down from $39.2 million, with total liabilities at $10.1 million and equity at $20.0 million Consolidated Balance Sheet Highlights (Unaudited, in thousands) | | March 31, 2025 | December 31, 2024 | | :--- | :--- | :--- | | Cash and cash equivalents | $12,387 | $20,104 | | Total current assets | $24,214 | $33,363 | | Total assets | $30,070 | $39,189 | | Total current liabilities | $6,866 | $10,353 | | Total liabilities | $10,083 | $13,800 | | Total stockholders' equity | $19,987 | $25,389 | Consolidated Statements of Cash Flows Q1 2025 saw $6.2 million net cash used in operating activities, $0.2 million in investing, and $1.4 million in financing, leading to a $7.7 million net decrease in cash Consolidated Statement of Cash Flows Highlights (Unaudited, in thousands) | | For the Three Months Ended March 31, | | :--- | :--- | :--- | | | 2025 | 2024 | | Net cash flows from operating activities | $(6,172) | $(3,840) | | Net cash flows from investing activities | $(183) | $— | | Net cash flows from financing activities | $(1,362) | $16,053 | | Net change in cash and cash equivalents | $(7,717) | $12,213 | | Cash and cash equivalents, end of period | $12,387 | $35,353 |