Financial Data and Key Metrics Changes - Revenue declined by approximately 6% from Q3 2024, while operating expenses were cut by 5%, resulting in savings of approximately $300,000 [19] - Operating loss reduced from approximately $3.1 million to approximately $2.7 million for Q4 2024, and net loss decreased from $2.4 million in Q3 to $1.2 million in Q4 2024 [19] - Adjusted EBITDA loss for the year ended December 31, 2024, was $9.1 million, a significant improvement from a loss of $20.2 million for the year ended December 31, 2023 [21] Business Line Data and Key Metrics Changes - The company is focusing on profitable clients and has seen success in targeting industries with high labor costs and tight margins [7] - The Marpai Saves program is being expanded to provide value-added services to drive healthcare costs down for clients [12] Market Data and Key Metrics Changes - Healthcare costs continue to rise in the low-double-digits, which is driving demand for the company's services [7] - The company is leveraging strategic partnerships to enhance revenue generation and client acquisition [10][35] Company Strategy and Development Direction - The strategic focus remains on revenue growth, customer experience, and profitability, with plans to introduce high-impact benefit management services in the second half of 2025 [5] - The company is streamlining its service offerings to create a core package while allowing for customization at the right price [15] - The MarpaiRx program is anticipated to provide significant savings and a competitive advantage in the pharmacy benefit management space [42] Management's Comments on Operating Environment and Future Outlook - Management is committed to achieving profitability in 2025 and maximizing profitability thereafter, balancing purpose with profit [14] - The leadership team is focused on creating shareholder value and driving a culture of high performance [23] Other Important Information - The company ended the year with approximately $800,000 in cash, with plans in place to cover requirements until cash flow becomes positive in 2025 [33] - The company is actively recruiting high-caliber sales executives to enhance revenue growth [6] Q&A Session Summary Question: Is a lot of the churn now behind the company, or will there be more? - Management indicated that overall attrition is within industry averages and expects some attrition to flow through early in 2025, but remains optimistic due to a strong pipeline [31] Question: How does the company view its cash position and planned growth? - The company ended the year with approximately $800,000 in cash and has reduced cash burn significantly, aided by a $5 million drawdown from a strategic partner [33] Question: Can you provide more details on strategic partnerships? - Recent collaborations with Health fintech and Empara are expected to drive revenue and enhance sales cycles, with additional partnerships in the pipeline [35][36] Question: How should people think about Marpai's value proposition compared to competitors? - The company focuses on driving significant savings and providing a best-in-class member experience, differentiating itself from competitors who may offer less tangible benefits [38][39] Question: Why is the MarpaiRx program crucial for growth? - The program is expected to deliver significant savings and a competitive advantage, especially in light of upcoming legislation for transparency in the pharmacy benefit management space [42][44]