Financial Performance - Research & Development Revenue for Q2 2025 declined 32.0% to $5.1 million from $7.5 million due to reduced clinical trial costs[6] - Gross margin for Q2 2025 was 45.2%, slightly down from 46.6% in Q2 2024, attributed to higher non-reimbursed expenses[7] - The net loss for Q2 2025 was $(7.9) million, compared to a net loss of $(2.9) million in Q2 2024, primarily due to changes in the fair value of warrant liability[10] - The company reported a 16.4% reduction in net loss for the first six months of 2025 compared to the same period in 2024, reflecting better management of operating expenses[11] Expenses - General and administrative expenses in Q2 2025 were $4.4 million, down from $5.8 million, reflecting the company's focus on operational efficiencies[8] Cash and Assets - Cash improved to $10.5 million as of June 30, 2025, up from $5.2 million on December 31, 2024[12] - Total current assets increased to $14.0 million as of June 30, 2025, compared to $10.1 million in the prior year[20] Liabilities - Total liabilities as of June 30, 2025, were $25.2 million, up from $19.3 million in the previous year[20] Guidance and Milestones - The company reiterated its revenue guidance of approximately $21.5 million for FY 2025, excluding contributions from the DeepView™ System[13] - The company completed the submission of the De Novo application to the FDA in June 2025, a significant milestone for the DeepView System[4]
ROSECLIFF ACQU(RCLF) - 2025 Q2 - Quarterly Results