Financial Data and Key Metrics Changes - Revenue for Q1 2025 reached $48.6 million, representing a 17.4% increase compared to Q1 2024, driven by a 14% increase in unit volume and a 3% increase in price [21][22] - Gross profit for the quarter was $34.9 million, with a gross margin of approximately 71.9%, down from 78.8% in the same period last year [22][24] - The company reported a net loss of $3.8 million or $0.08 per share, compared to a net loss of $6.6 million or $0.15 per share in Q1 2024 [25] Business Line Data and Key Metrics Changes - The extremities market experienced double-digit growth, with continued adoption of the nerve protection portfolio [10] - In the breast segment, there was a 16% increase in the number of surgeons performing breast resensation procedures, with 254 active surgeons in Q1 2025 [12][13] - The oral, maxillofacial, and head and neck markets saw strong growth from the adoption of the nerve algorithm in mandible reconstruction procedures [13] Market Data and Key Metrics Changes - The company reported an increase in average account productivity of 24% in high potential accounts, exceeding the target of 21% [9] - There were 566 active high potential accounts at the end of Q1 2025, representing a 5% increase compared to Q1 2024 [9] - The prostate clinical and market development plan is on track, with three clinical pilot sites confirmed and discussions ongoing with additional sites [15][16] Company Strategy and Development Direction - The company aims to make nerve care a standard of care for all patients, focusing on high potential hospital providers and physicians [6][8] - Plans for 2025 include expanding the commercial infrastructure and increasing the number of sales representatives in high potential territories [10][11] - The company is advancing its therapeutic reconstruction program and exploring next-generation applications for its protection technologies [18][19] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the BLA process for the advanced nerve graft, expecting approval in September 2025 [20] - The company anticipates improvements in gross margin following BLA approval, with ongoing process and quality system enhancements [23][26] - Management remains optimistic about achieving full-year revenue growth guidance in the range of 15% to 17% for 2025 [26][27] Other Important Information - A leadership transition was announced, with Lindsay Hartley succeeding Nir Naor as Chief Financial Officer [4][5] - The company is maintaining its focus on generating clinical evidence to support its technologies and improve surgeon confidence [17][18] Q&A Session Summary Question: Insights on Avance and BLA approval process - Management does not expect major changes to ordering or shipment for Avance post-approval, and reimbursement pathways will remain unchanged [36] Question: Impact of one-time inventory write-offs on gross margin - Significant one-time inventory write-offs impacted Q1 gross margin, but improvements are expected throughout the year [38][39] Question: Status of high potential accounts - There are approximately 780 high potential accounts, with 566 active in Q1 2025; opportunities exist to expand within existing accounts and establish new relationships [56][57] Question: Update on sales team expansion - The company plans to have approximately 20 net new sales representatives by the end of the year, with ongoing recruitment efforts [50][72] Question: BLA process and major checkpoints - The next major milestone is the late cycle meeting with the FDA, where the company will review progress and address any outstanding questions [100]