Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $20.5 million, reflecting a 42% increase from $14.4 million in Q1 2024 and an 11% increase from Q4 2024 [6][22] - Gross margin for Q1 2025 was 88%, compared to 86% in the prior year [23] - Net loss for Q1 2025 was $12.8 million, or a loss of $0.36 per share, compared to a loss of $8.5 million, or a loss of $1.56 per share in Q1 2024 [26] Business Line Data and Key Metrics Changes - Product revenue for Q1 2025 was $15.6 million, a 41% increase from $11 million in Q1 2024 [22] - Subscription revenue for Q1 2025 was $4.9 million, representing a 45% increase from $3.4 million in Q1 2024 [23] Market Data and Key Metrics Changes - As of March 31, 2025, the company had 558 active accounts, an increase of 29 during the first quarter [7] - The company estimates it currently serves about 3% of the U.S. population that could benefit from its technology [10] Company Strategy and Development Direction - The company aims to expand its account acquisition team to 55 territory managers by mid-2025 [11] - The focus remains on increasing awareness of the clinical and economic benefits of its technology through direct engagement with clinicians and marketing initiatives [12] - The company plans to conduct a limited commercial release of its pediatric algorithm, with a full launch anticipated in subsequent years [46] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving profitability using current cash on hand despite a dynamic trade environment [7] - The company raised its full-year 2025 revenue guidance to a range of $83 million to $87 million, up from the previous guidance of $81 million to $85 million [27] - Management noted that they expect gross margins to remain in the mid-eighty percent range despite potential tariff impacts [28][29] Other Important Information - The company received FDA clearance for its pediatric seizure detection algorithm, expanding its addressable patient population [13] - The company is one of only 51 companies to receive FedRAMP high authorization, validating its cybersecurity standards [8] Q&A Session Summary Question: What is driving the raise in guidance by more than the beat? - Management indicated that greater confidence in account acquisition and management strategies led to the guidance increase [33] Question: Can you elaborate on potential mitigation actions regarding tariffs? - Management mentioned strategies such as automation, cost negotiation with vendors, and potential reshoring plans to mitigate tariff impacts [39] Question: How do you view operating expenses this year? - Management noted that investments in R&D and sales infrastructure are being made, but they remain focused on achieving positive cash flow without additional capital [44] Question: Will pediatric clarity impact the 2025 guidance? - Management confirmed that pediatric clarity will not impact the 2025 guidance but sees meaningful expansion potential in future years [46] Question: What is the competitive landscape like? - Management stated that they remain the clear category leader in point-of-care EEG and are not seeing significant competitive threats [66]