Financial Data and Key Metrics Changes - Revenue for Q4 2024 totaled $10,300,000, an increase of 47% compared to $7,000,000 for the same period in 2023 [11][12] - Gross margin reached 77.9% for Q4 2024, up from 69.1% in Q4 2023 [12] - Operating income for Q4 2024 was $2,500,000, an improvement of $1,500,000 year over year [12] - Net loss for Q4 2024 was $12,700,000, compared to net income of $18,200,000 in Q4 2023, primarily due to a change in the fair value of derivative liabilities [13] Business Line Data and Key Metrics Changes - Sold 135 ULTREMIST systems in Q4 2024, a 71% increase year over year [7] - Applicator sales in Q4 were $5,900,000, up 68% from Q4 2023 and 11% sequentially from Q3 2024 [8] Market Data and Key Metrics Changes - The company ended 2024 with 1,047 systems in the field, up from 647 at the end of 2023 [7] - Total current assets amounted to $18,400,000 as of 12/31/2024, compared to $9,800,000 as of 12/31/2023 [16] Company Strategy and Development Direction - The company is focusing on engaging larger and more sophisticated customers capable of purchasing large volumes of products [6] - A new Head of Sales was hired to reflect a shift towards a more consultative sales approach, aiming to build long-term partnerships with customers [21][22] Management's Comments on Operating Environment and Future Outlook - Management expects Q1 2025 revenue guidance of $8,400,000 to $9,000,000, representing 45% to 55% growth from Q1 2024 [17] - For the full year 2025, the company is guiding revenue of $48,000,000 to $50,000,000, indicating a 50% year-on-year growth rate [18] Other Important Information - The company successfully uplisted to NASDAQ on March 7, 2025, marking a significant milestone [10] - The company has implemented a stock option compensation plan for employees and Board of Directors for the first time in over six years [15] Q&A Session Summary Question: Changes with the new Head of Sales - The company expanded its sales team from two to nine and is adopting a deeper, consultative sales approach to build long-term partnerships [21][22] Question: Characterization of ULTREMIST placements - The placements included a mix of small orders and significant orders, with one customer ordering nearly 20 systems [29] Question: Managing larger customer orders to avoid lumpiness - The company aims to maintain a steady pace of smaller sales while being prepared for larger orders, focusing on getting systems in the field [30][32] Question: Advancing confirmatory studies for ULTREMIST - The company is looking to initiate additional studies to explore new use cases for ULTREMIST, with plans for prospective studies to validate promising past results [38][42]

Financial Data and Key Metrics Changes - Revenue for Q4 2024 totaled $10,300,000, an increase of 47% compared to $7,000,000 for the same period in 2023 [10][11] - Gross margin reached 77.9% for Q4 2024, up from 69.1% in Q4 2023 [11] - Operating income for Q4 2024 was $2,500,000, an improvement of $1,500,000 year-over-year [11] - Net loss for Q4 2024 was $12,700,000, compared to net income of $18,200,000 in Q4 2023, primarily due to changes in the fair value of derivative liabilities [12] - Adjusted EBITDA for Q4 2024 was positive $3,700,000, an improvement of $3,000,000 year-over-year [12][14] Business Line Data and Key Metrics Changes - Sold 135 ULTREMIST systems in Q4 2024, representing a 71% growth year-over-year [6] - Applicator sales in Q4 were $5,900,000, up 68% from Q4 2023 and 11% sequentially from Q3 2024 [7] Market Data and Key Metrics Changes - The company ended 2024 with 1,047 systems in the field, up from 647 at the end of 2023 [6] - Current assets amounted to $18,400,000 as of 12/31/2024, compared to $9,800,000 as of 12/31/2023 [15] Company Strategy and Development Direction - The company is focusing on engaging larger and more sophisticated customers capable of purchasing large volumes of products [5] - A new sales strategy has been implemented, moving towards a consultative sales approach to build long-term partnerships [22] - The company aims to double its manufacturing pace of ULTREMIST systems to meet demand [30] Management's Comments on Operating Environment and Future Outlook - Management expects Q1 2025 revenue to be between $8,400,000 and $9,000,000, representing 45% to 55% growth from Q1 2024 [17] - For the full year 2025, the company is guiding revenues of $48,000,000 to $50,000,000, indicating a 50% year-on-year growth rate [18] Other Important Information - The company uplisted to NASDAQ on March 7, 2025, marking a significant milestone [9] - The company has initiated a stock option compensation plan for employees and board members for the first time in over six years [14] Q&A Session Summary Question: Changes in Sales Strategy - The company has expanded its sales team from two to nine and is focusing on a consultative sales approach to build long-term partnerships [21][22] Question: Customer Composition and Sales Outlook - The company sold a mix of one and two system orders, with some larger customers ordering multiple systems, indicating a diverse customer base [28][29] Question: Advancing Confirmatory Studies - The company is looking to advance additional confirmatory studies and explore new applications for ULTREMIST, with plans for prospective studies in the future [36][40]