Financial Data and Key Metrics Changes - For Q1 2025, the company reported revenue of $2.6 million, an increase of 82% from $1.4 million in Q1 2024 [7][8] - Gross margin improved to 71% in Q1 2025 from 60% in Q1 2024 [8] - Total operating expenses rose to $13 million in Q1 2025 from $8.7 million in Q1 2024 [8] - The net loss for Q1 2025 was $10.7 million, or $0.36 per share, compared to a net loss of $6.6 million, or $0.27 per share, in Q1 2024 [9] Business Line Data and Key Metrics Changes - Recurring revenue accounted for $1.8 million of total revenue, while $820,000 came from one-time capital equipment sales [7] - The TULSA PRO technology was highlighted for its strong presence at medical meetings, particularly the American Urological Association meeting [10] Market Data and Key Metrics Changes - The CAPTAIN clinical trial data was presented, showing TULSA's effectiveness compared to robotic radical prostatectomy, which is expected to drive adoption [10][11] - The introduction of the TULSA AI volume reduction module is anticipated to enhance procedure efficiency and expand the total addressable market [19] Company Strategy and Development Direction - The company aims to leverage the CAPTAIN trial results to drive mainstream adoption of TULSA technology [29] - The TULSA Plus program is designed to facilitate adoption by providing a comprehensive solution for urologists [21][24] - The company is focusing on expanding its commercial organization to support growth and enhance market presence [20][31] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the pipeline and the impact of Medicare reimbursement on future revenue growth [58][59] - The company is optimistic about the increasing patient demand and the positive feedback from the medical community regarding TULSA technology [36][41] Other Important Information - The TULSA AI volume reduction module is set for limited release in June 2025, with a full release planned for Q4 2025 [19] - The company is actively engaging with commercial insurers to secure reimbursement policies for TULSA procedures [38][39] Q&A Session Summary Question: Feedback on CAPTAIN data post-AUA conference - Management received positive feedback from teaching hospitals eager to adopt the data for mainstream use [36][37] Question: Plans for presenting to commercial insurers - Conversations with insurers have begun, and there is optimism about securing reimbursement policies [38][39] Question: Activity at the AUA booth - The level of interest from physicians was high, and the feedback on the volume reduction module was tremendous [41][42] Question: Guidance for the year - The company remains on track for 70% to 75% growth compared to 2024, with a back-end loaded revenue model [46][50] Question: Sales resources and team readiness - The sales team is fully ramped up, with specialized teams in place for health economics and market access [51][53] Question: Engagement of Medicare and Medicaid patients - Initial impacts of reimbursement were limited, but there is growing engagement and billing activity from hospitals [58][59] Question: Marketing plans and materials - The company is ramping up digital marketing efforts and plans to utilize satisfied patients as advocates [60][62] Question: Capital revenue details - Most capital revenue came from new sites, with some conversions from existing sites [73][74] Question: Timing for TULSA Plus availability - The TULSA Plus model is expected to be compatible by the end of Q3 2025, with specific deals to be announced [78][79]