Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $21.2 million, reflecting a 38% growth compared to $15.3 million in the same period last year [5][24] - Product revenue for 2025 was $15.9 million, representing a 38% increase from $11.6 million in 2024 [25] - Subscription revenue for 2025 was $5.3 million, showing a 41% increase from $3.7 million in 2024 [25] - Gross margin for 2025 was 88%, up from 86% in the prior year [26] - Net loss for 2025 was $13.6 million, or a loss of $0.38 per share, compared to a loss of $8.9 million, or a loss of $1.61 per share in 2024 [28] Business Line Data and Key Metrics Changes - The company had 584 active accounts as of June 30, 2025, an increase of 26 accounts during Q2 [6] - The core commercial strategy focuses on account acquisition and increased utilization of the seizure detection system [6][7] Market Data and Key Metrics Changes - The company is on track to expand coverage to 55 territories by the end of the month [7] - The company aims to become the standard of care for seizure management in the acute care setting, representing a $2 billion annual revenue opportunity in the U.S. alone [18] Company Strategy and Development Direction - The company is raising its full-year 2025 revenue guidance to between $85 million and $88 million, up from a previous range of $83 million to $87 million [9][28] - Investments are being made in commercial infrastructure and clinical account managers to support account launch and utilization expansion [7][9] - The company is also advancing efforts to expand awareness of its technology through clinician engagement and marketing initiatives [9] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the near and long-term growth trajectory, citing strong performance year-to-date [8] - The company is committed to achieving cash flow breakeven and believes its balance sheet supports this goal [28] - Management highlighted the importance of real-world value and clinical evidence in driving adoption of their technology [12][22] Other Important Information - The company filed a complaint against Natus Medical for patent infringement, seeking damages and injunctions [20][21] - The company is diversifying its supply chain by establishing a production line in Vietnam to mitigate trade risks [29] Q&A Session Summary Question: Update on account ads and utilization growth - Management noted good momentum in account acquisition but expects tangible growth to materialize next year due to the sales cycle [38] Question: Gross margin outlook - Management indicated that both mitigation strategies and favorable tariff rates are contributing to improved gross margins [40] Question: Seasonality in EEG utilization - Management confirmed reduced seasonal usage in Q2 and Q3, aligning with ICU census data [46] Question: Expense control and sales force deployment - Management stated that investments from the IPO will drive future growth, with a focus on maintaining consistent territory manager counts [50] Question: Utilization growth segmentation - Management explained that utilization growth is driven by departmental penetration, physician training, and protocolization initiatives [54] Question: Pediatric market updates - Management shared that they are making progress in pediatric hospitals and emergency departments, focusing on quality improvement projects [58] Question: Economic value proposition for delirium indication - Management highlighted parallels in health economics benefits between delirium and seizure management, focusing on reducing length of stay [63] Question: Legal costs related to ongoing litigation - Management expects ongoing legal costs to remain elevated in the coming quarters [72] Question: Manufacturing shift to Vietnam - Management clarified that the Vietnam facility will serve as an additional line to de-risk supply chain reliance on a single country [82]