Catheter Precision, Inc. Second Quarter 2025 Results of Operations Catheter Precision, Inc. achieved strong Q2 2025 operational and financial growth, driven by revenue increase, product approvals, and strategic acquisitions, despite liquidity and control challenges Q2 2025 Operational and Strategic Highlights Catheter Precision achieved significant Q2 2025 operational momentum through strong revenue growth, European LockeT approval, positive clinical data, and strategic acquisitions - The company achieved significant revenue growth, with a 128% increase year-over-year for Q2 and a 48% increase sequentially over the previous quarter1 - Received the CE Mark for the LockeT product, enabling sales to commence in Europe during the third quarter of 20251 - Presented significant positive clinical data at the Heart Rhythm Society symposium, demonstrating VIVO's high accuracy (over 94%) in localizing ventricular arrhythmias and LockeT's safety and efficacy in large-bore access procedures1 - Completed the acquisition of Cardionomic's heart failure assets through its new subsidiary, Cardionomix, and formed Kardionav, Inc., a joint venture to develop a new software product for treating ventricular tachyarrhythmia1 Financial Highlights Catheter Precision reported Q2 2025 revenue growth of 128% to $212 thousand, alongside a $5.4 million net loss primarily due to non-cash charges, ending with $838 thousand cash Q2 2025 Financial Summary | Metric | Q2 2025 ($) | Q2 2024 ($) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $212 thousand | $93 thousand | +128% | | Net Loss | ($5.4 million) | N/A | N/A | | Metric | H1 2025 ($) | H1 2024 ($) | YoY Change | | :--- | :--- | :--- | :--- | | Revenue | $355 thousand | $175 thousand | +103% | | Net Loss | ($9.5 million) | N/A | N/A | | Balance Sheet (as of June 30, 2025) | ($) | | | :--- | :--- | :--- | :--- | | Total Assets | $25.6 million | | | | Total Shareholders' Equity | $6.5 million | | | | Cash Position | $838 thousand | | | - Non-cash charges constituted a significant portion of the net loss, amounting to $3.2 million for the three months and $4.4 million for the six months ended June 30, 20257 Company and Product Overview Catheter Precision is a U.S. medical device company focused on improving cardiac arrhythmia treatment, with key commercial products LockeT and VIVO™ both holding FDA clearance and CE Mark approval - LockeT: A Class 1 suture retention device used for wound closure after percutaneous venous punctures, registered with the FDA and holding CE Mark approval4 - VIVO™ (View Into Ventricular Onset): A non-invasive 3D imaging system that helps physicians locate the origin of ventricular arrhythmias pre-procedure, with both U.S. FDA marketing clearance and CE Mark approval5 Forward-Looking Statements and Risk Factors The company's forward-looking statements are subject to significant risks, including the need for additional financing, ineffective internal controls, and challenges related to clinical trials, competition, and supply chain - The company lacks sufficient liquidity to fund operations through December 31, 2025, necessitating additional financing or a strategic transaction8 - Material weaknesses in internal and disclosure controls as of June 30, 2025, may impair accurate financial reporting or fraud prevention8 - Development of assets acquired by KardioNav and Cardionomix is contingent upon obtaining additional financing, which may not be available8 - Other significant risks include dependence on successful clinical trials, competition from larger companies, supply chain vulnerabilities, and pervasive FDA regulatory requirements8
Catheter Precision(VTAK) - 2025 Q2 - Quarterly Results