Financial Data and Key Metrics Changes - Revenue for Q4 2024 was $18,500,000, reflecting a 41% growth compared to $13,100,000 in Q4 2023 [21] - Full year revenue totaled $65,400,000, representing a 45% growth over 2023 [21] - Gross margin for Q4 2024 was 88%, up from 85% in the prior year [22] - Full year gross margin was 87%, compared to 84% in 2023 [22] - Net loss for Q4 2024 was $12,600,000, or a loss of $0.40 per share, compared to a loss of $8,300,000, or a loss of $1.53 per share in Q4 2023 [25] - Full year net loss was $40,500,000, or a loss of $3.39 per share, compared to a loss of $29,500,000, or a loss of $5.56 per share in 2023 [25] Business Line Data and Key Metrics Changes - Product revenue for Q4 2024 was $14,100,000, a 41% increase from $10,000,000 in Q4 2023 [21] - Subscription revenue for Q4 2024 was $4,400,000, representing a 40% increase from $3,100,000 in Q4 2023 [21] - Active accounts increased to 529 as of December 31, 2024, with an addition of 25 accounts during Q4 [11] Market Data and Key Metrics Changes - The company targets approximately 5,500 remaining prospective accounts in the U.S. acute care facilities market [11] - The current market opportunity for seizure detection and management in acute care settings is estimated at $2,000,000,000 [19] Company Strategy and Development Direction - The company aims to expand its account acquisition team to 55 territory managers by mid-2025 [14] - Plans to invest in optimizing algorithm performance and user experience while expanding indications beyond seizure management [15] - The company envisions EEG becoming a new vital sign, with a focus on developing algorithms for various neurological conditions [16] Management's Comments on Operating Environment and Future Outlook - Management views 2025 as a catalyst-heavy year with significant growth opportunities [19] - The company expects full year 2025 total revenue to be in the range of $81,000,000 to $85,000,000, representing annual growth of 24% to 30% over 2024 [26] - Management remains focused on achieving cash flow breakeven and is optimistic about the strength of the balance sheet [28] Other Important Information - The company has made significant strides in commercial growth and R&D pipeline development, impacting tens of thousands of patients [6] - The transition to operating as a public company has increased stock-based compensation costs, expected to contribute approximately $15,000,000 to operating expenses for 2025 [29] Q&A Session Summary Question: Can you elaborate on the guidance for this year and the underlying assumptions? - Management indicated that investments in sales infrastructure started in Q3 and will continue through mid-2025, leading to accelerated growth in 2026 and beyond [34] Question: What are the thoughts on new account adds and traction in Q4? - The strength of Q4 was attributed to good planning, allowing some launches that would have occurred in Q1 to be pulled forward [38] Question: What are the expectations for gross margin and OpEx spend in 2025? - Gross margins are expected to normalize to the mid to high 80% range, while R&D expenses are anticipated to increase by 40% to 60% year over year [41] Question: Can you provide updates on the stroke detection algorithm development? - The company is pleased with the progress in the stroke trial and plans to expand enrollment speed to collect more patient data for algorithm training [52] Question: What are the expectations for account penetration and utilization? - The company expects an upward trajectory in usage, although purchasing patterns may vary based on customer preferences [70]