Financial Data and Key Metrics Changes - Revenue for Q2 2025 totaled $51.3 million, representing a 16% increase year-over-year [5][30] - Adjusted EBITDA loss improved to $8.5 million from $12.1 million in Q1 2025 [7][35] - Cash usage decreased to $14.5 million from $21.2 million in the previous quarter [7][35] - Gross profit was $35.3 million, or 68.8% of revenue, up from 65.6% in the same period last year [31][32] - The company raised its revenue guidance for 2025 to a range of $208 million to $212 million, indicating a growth of 25% to 28% [6][37] Business Line Data and Key Metrics Changes - U.S. sales reached $10.3 million, exceeding previous guidance [5][30] - European direct market sales increased by approximately 27% this quarter, excluding currency effects [10][25] - Latin America saw mid-single-digit growth, with stabilization in Brazil and strong growth in Argentina [26] Market Data and Key Metrics Changes - U.S. accounted for 20% of global sales, while Europe, the Middle East, and Africa (EMEA) represented 40% [31] - Asia Pacific contributed 15% of sales, with year-over-year results down primarily due to challenges in China [31][32] Company Strategy and Development Direction - The company aims to achieve a leadership position in the U.S. market by leveraging superior product benefits and expanding its account base [8][12] - Focus on improving operational efficiency and profitability while advancing the innovation pipeline [40][41] - Plans to launch the Preservay procedure in 2026, which is expected to command a premium and expand the total addressable market (TAM) [23][41] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving cash flow breakeven by 2026 and expects the first positive EBITDA quarter later this year [12][38] - The U.S. market is showing strong momentum, with continued growth expected despite seasonal slowdowns [17][84] - Challenges in China are acknowledged, with management working closely with distribution partners to improve performance [11][50] Other Important Information - The Motiva Flora Smooth Silk tissue expander won innovation and safety awards, establishing it as a benchmark in breast reconstructive surgery [39] - The company is exploring refinancing options to reduce cash usage in the coming quarters [36] Q&A Session Summary Question: Can you provide more details on the assumptions behind the revenue guidance upgrade? - Management highlighted strong results in the U.S. and noted that China has been taken out of the guidance for the second half of the year due to challenges [46][49] Question: What is the growth trajectory for U.S. physician adds? - Management indicated that while they continue to add accounts, the focus will shift towards enhancing utilization rates in existing accounts [62][64] Question: How is the pricing trend in the U.S.? - The company maintains a premium pricing strategy and has not experienced significant pricing pressure [78] Question: What is the status of the investment from the distributor in China? - Management noted that the distributor is facing challenges in scaling operations, which has delayed expected progress [91][92] Question: How do Mia and Preserve compare in terms of future growth? - Management believes that Preserve will likely become larger than Mia due to its broader appeal to patients and surgeons [96][97]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $41.4 million, an increase of 11% year-over-year, with a 13.5% growth excluding foreign exchange impacts [28][30] - Gross profit for Q1 was $27.8 million, representing 67.2% of revenue, a 160 basis point increase from 65.6% in Q1 2024 [30] - Adjusted EBITDA loss was $12.1 million, an improvement from a $13.1 million loss in the previous quarter [32] - Cash position as of March 31 was $69.2 million, with an additional $25 million available under a credit facility, totaling approximately $94 million in accessible cash [32] Business Line Data and Key Metrics Changes - U.S. revenue for Q1 was $6.2 million, exceeding the previous guidance of $5.5 million, indicating strong adoption of products [11][12] - Revenue growth outside the U.S. was approximately 5% in Q1, aligning with expectations, with Brazil showing stabilization but still lower than the previous year [29][30] - The launch of Motiva in the U.S. has seen over 900 accounts onboarded, with 84% of those placing reorders [14][16] Market Data and Key Metrics Changes - The U.S. market is expected to exceed the previously guided $35 million for the year, with single-digit growth anticipated for international markets [12][34] - The company has not observed any impact on sales from recent tariff-related concerns, with demand remaining stable [12][34] Company Strategy and Development Direction - The company aims to achieve profitability while continuing to expand its market share in the U.S. and internationally [9][38] - Focus areas include driving growth in the U.S., increasing operational efficiency, launching minimally invasive products, and advancing the innovation pipeline [38] - The company is committed to becoming the market share leader in the U.S. aesthetics market [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving revenue and profitability targets despite macroeconomic uncertainties [34][35] - The outlook for 2025 remains conservative, with revenue guidance set between $205 million and $210 million, reflecting a growth of 23% to 26% [33][34] Other Important Information - The company announced the appointment of Peter Caldini as the permanent CEO, emphasizing a strong start to 2025 [6][11] - The partnership with Meghan Trainor has generated significant media impressions and positive feedback from the plastic surgeon community [20][21] Q&A Session Summary Question: OUS outlook and consumer sentiment by region - Management confirmed mid-single digit growth guidance for OUS markets, with Brazil stabilizing but still facing challenges [42][44] Question: Details on the positioning of Preserve versus Motiva - Preserve is positioned for day-to-day use, leveraging technology from Mia, with strong initial responses in various markets [45][46] Question: U.S. launch strategy and competitive response - The U.S. launch is exceeding expectations, with no significant competitive response noted, although some price discounting has occurred [53][58] Question: U.S. sales force expansion plans - The current sales force consists of 40 reps, with plans to expand in key markets as needed [63][64] Question: Gross margin outlook and tariff impact - Gross margins are expected to improve as U.S. sales grow, with minimal impact from tariffs anticipated [87][89] Question: Account penetration expectations in the U.S. - The company aims to reach a high penetration rate among top plastic surgeon accounts, with strong reorder rates being observed [102][104]