Financial Data and Key Metrics Changes - Revenue for Q4 2024 was a record $12.1 million, representing a 154% increase year-over-year, driven by a higher number of revenue units and a higher average selling price (ASP) [22][11] - Full-year revenue for 2024 totaled $32.6 million, up 69% from 2023, with product revenue increasing 86% when excluding license fees [34] - Gross margin for Q4 2024 was 71.4%, compared to 65.3% in the prior year quarter, primarily due to a higher ASP and better fixed cost absorption [30] - Operating loss for Q4 narrowed to $200,000 from $2.4 million in the prior year quarter, while net loss was $300,000 or $0.01 per share, compared to a net loss of $2.5 million or $0.07 per share in Q4 2023 [32] Business Line Data and Key Metrics Changes - The company delivered 220 MyoPro revenue units in Q4, doubling the volume from Q4 2023, with a total of more than 600 devices sold during the year [11] - O&P revenue grew to $600,000 in Q4, up 94% sequentially, as more clinics began the process of becoming MyoPro centers of excellence [13] - International revenue reached a record $1.5 million in Q4, representing 12% of quarterly revenue, primarily from Germany [27] Market Data and Key Metrics Changes - Medicare Part B patients represented 57% of total revenue in Q4, up from 55% in Q3, indicating success in educating this patient population [25] - The pipeline stood at 1,389 patients at the end of Q4, an increase of 33% year-over-year, with 657 new patients added in Q4 alone, up 72% from the prior year's fourth quarter [28] Company Strategy and Development Direction - The company aims to increase capacity and achieve cash flow breakeven by the end of 2025, with plans to double advertising expenses to over $6 million [10][40] - The strategy includes expanding the O&P distribution channel and establishing contracts with health insurance plans to become an in-network provider [18][19] - The company is committed to innovation, investing in R&D to build the next generation MyoPro platform [45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued growth in 2025, expecting revenue to be between $50 million and $53 million, representing growth of 54% to 66% over 2024 [39] - The reimbursement environment is expected to remain consistent, with new contracts being established that could accelerate the revenue cycle [82] - Management highlighted the importance of educating patients and clinicians about MyoPro, anticipating increased demand from Medicare beneficiaries [46] Other Important Information - The company achieved positive adjusted EBITDA for the first time in its history, reaching about $200,000 in Q4 2024 [33] - The company relocated operations to a new facility in Burlington, increasing manufacturing capacity to 120 units per month [20] Q&A Session Summary Question: Can you walk through your assumptions on unit or revenue contribution in 2025 from the O&P channel? - Management indicated that while the direct provider business will continue to be the primary revenue source, they expect meaningful growth from the O&P channel in 2025 [58][60] Question: How quick can you ramp advertising spend and what do you expect from a spend perspective in Q1? - Management noted that they expect a slight increase in the cost per pipeline add in Q1 due to changes in advertising platforms, but they are optimistic about lead generation [62][64] Question: What are the main reasons for authorization denials and how can they be reduced? - Management identified that denials often cite the device as experimental or question medical necessity, and they are actively working to counter these claims through physician documentation and advocacy [104][106] Question: What growth can be expected from the international market in 2025? - Management expressed confidence in continued growth in Germany, where they have a strong presence and are expanding their marketing efforts [111][113]

Financial Data and Key Metrics Changes - Revenue for Q4 2024 was a record $12.1 million, representing a 154% increase year-over-year, driven by a higher number of revenue units and a higher average selling price (ASP) [22][11] - Full-year revenue for 2024 totaled $32.6 million, up 69% from 2023, with product revenue increasing 86% when excluding license fees [34] - Gross margin for Q4 2024 was 71.4%, compared to 65.3% in the prior year quarter, primarily due to a higher ASP and better fixed cost absorption [30] - Operating loss for Q4 narrowed to $200,000 from $2.4 million in the prior year quarter, while net loss was $300,000 or $0.01 per share, compared to a net loss of $2.5 million or $0.07 per share in Q4 2023 [32] Business Line Data and Key Metrics Changes - The company delivered 220 MyoPro revenue units in Q4, doubling the volume from Q4 2023, with a total of more than 600 devices sold during the year [11] - O&P revenue grew to $600,000 in Q4, up 94% sequentially, as more clinics began the process of becoming MyoPro centers of excellence [13] - International revenue reached a record $1.5 million in Q4, representing 12% of quarterly revenue, primarily from Germany [27] Market Data and Key Metrics Changes - Medicare Part B patients represented 57% of total revenue in Q4, up from 55% in Q3, indicating continued success in educating this patient population [25] - The pipeline stood at 1,389 patients at the end of Q4, an increase of 33% year-over-year, with 657 new patients added in Q4 alone, up 72% from the prior year's fourth quarter [28] Company Strategy and Development Direction - The company aims to increase capacity and achieve cash flow breakeven by the end of 2025, with plans to double advertising expenses to over $6 million [10][40] - The strategy includes expanding the O&P distribution channel and establishing contracts with health insurance plans to enhance in-network status [19][18] - The company is committed to innovation, investing in R&D to develop the next generation MyoPro platform [45] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the reimbursement environment, expecting it to remain consistent or improve, particularly with new contracts and price increases from CMS [82] - The company anticipates continued strong growth in 2025, with revenue guidance set between $50 million and $53 million, representing growth of 54% to 66% over 2024 [39] Other Important Information - The company achieved positive adjusted EBITDA for the first time in its history, reaching about $200,000 in Q4 2024 [33] - The company relocated operations to a new facility in Burlington, increasing manufacturing capacity to 120 units per month [20] Q&A Session Summary Question: Can you walk through your assumptions on unit or revenue contribution in 2025 from the O&P channel? - Management indicated that while revenue will primarily come from the direct provider business, they expect meaningful growth from the O&P channel in 2025 [58][60] Question: How quick can you ramp advertising spend and what do you expect from a spend perspective in Q1? - Management noted that it is too early to determine the efficiency of the cost per pipeline add but expects a slight increase in Q1 [62] Question: What are the main reasons for authorization denials and how can they be reduced? - The main reasons include claims being labeled as experimental or lacking medical necessity, with management actively working to counter these claims [104][105] Question: What growth can be expected from the international market in 2025? - Management expects continued growth in Germany, with over 100 O&P clinical partners trained and a steady track record of growth year-over-year [111][112]