Financial Highlights - Total assets on December 31, 2024, were $27.7 million [3] - Total shareholders' equity on December 31, 2024, was $11.8 million [3] - Total outstanding shares of common stock on December 31, 2024, were 8,004,633 [3] - Fourth quarter revenue was $149 thousand, a sequential increase of 55% over Q3 2024 [3] - Full year 2024 revenue was $420 thousand [3] - Net loss for the fourth quarter was $5.6 million, with $3.1 million being non-cash charges [3] - Total net loss for 2024 was $16.6 million, with $7.5 million being non-cash charges [3] Operational Updates - A new Chief Commercial Officer (CCO) joined in Q2 2024, leading to a majority replacement of the prior sales team [2][3] - The first sales of LockeT occurred in Q2 2024 and grew sequentially each quarter [3] - By year-end, 26 institutions had evaluated LockeT through surgical procedures [3] - The CE Mark for LockeT is anticipated to be received in Q2 2025, allowing sales in 32 European countries [3] - Anticipated EU LockeT sales are expected to begin in Q3 2025 [3] - VIVO marketing and sales progress continues in the US and multiple international markets [3] Clinical Studies and Publications - Two clinical studies were published in 2024 related to VIVO and LockeT [3] - Multiple IRB approvals were received in Q4 2024 and Q1 2025 for new LockeT studies [3] - A Randomized Controlled Trial (RCT) for VIVO is planned to begin in Q3 2025 [3] Product Information - VIVO is a non-invasive 3D imaging system that streamlines workflow and reduces procedure time [5] - LockeT is a suture retention device intended to assist in hemostasis after percutaneous venous punctures [6]
Catheter Precision, Inc. Announces Fourth Quarter and Full Year 2024 Update and Financial Results