Financial Data and Key Metrics Changes - Revenue for Q2 2025 was $2.7 million, representing a 26% sequential increase, driven by the sale of eight systems [5][25] - Gross profit for Q2 2025 was $1.3 million, with a gross margin of 49.3%, an increase of 800 basis points sequentially [27] - Net loss for Q2 2025 was $9.2 million, equating to a net loss of $0.12 per share, consistent with the previous quarter [28] - Cash burn excluding financing decreased by 19% sequentially to $8.1 million [28] Business Line Data and Key Metrics Changes - The company sold eight units in Q2 2025, including its first next-generation subsystem, with a strong average selling price [5][25] - The new subsystem has a manufacturer’s suggested retail price (MSRP) of $550,000, approximately a 15% premium to the prior version [15] - The company is focused on expanding its sales in U.S. hospitals, office settings, and international markets [10][14] Market Data and Key Metrics Changes - The total market opportunity for the company's technology exceeds $6 billion, with a proprietary position as a first mover [9] - The company has begun rolling out its Optive AI software to its installed base, enhancing image quality significantly [7][10] - The company is actively engaged in international markets, with software now available in Canada, Australia, and New Zealand, and plans to launch in Europe by the end of 2025 [22] Company Strategy and Development Direction - The company aims to launch one new product every six months, having received FDA clearance for two major technologies ahead of schedule [6][9] - The next-generation subsystem and Optive AI software are seen as key pillars for future growth, with a focus on driving adoption across multiple care settings [12][14] - The company is transitioning from pilot programs to full launches in office settings, targeting neurology practices specifically [19][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in strong revenue growth in the second half of 2025, driven by multiple product launches and increased traction in various markets [23][30] - The company anticipates a sequential revenue increase of 50% in Q3 compared to Q2, with expectations for continued margin expansion [30][31] - Management highlighted the importance of cash burn reduction and disciplined spending as key focuses moving forward [28][29] Other Important Information - The company completed its office pilot program and is now launching its next-generation subsystem in the office setting [6][19] - The PRIME study at Yale School of Medicine is evaluating the potential of AI-powered portable MRI technology in emergency departments [18][19] - The company has seen a positive market response to its new products, with significant interest from clinicians [14][40] Q&A Session Summary Question: Guidance for 2025 revenue - Management maintained the full-year 2025 revenue guidance, indicating a significant step up in the second half, with Q3 expected to show a 50% increase over Q2 [37][38] Question: Next-gen SWOOP launch expectations - Management discussed the incremental revenue contributions from new system placements and upgrades, emphasizing a focus on new system sales [41][42] Question: Funnel interest and system placements - Management confirmed a focus on managing separate funnels for hospital and office opportunities, with expectations for increased placements in the second half [56][59] Question: ASP increases and international business impact - Management noted that ASP increases were driven by a favorable sales mix and higher MSRP for new technology, with expectations for continued growth [68][70] Question: Use cases for patients with neuro implants - Management highlighted the safety profile of the low-field strength system, which is favorable for patients with magnetic implants [73][74]