Financial Data and Key Metrics Changes - Consolidated revenue for Q4 2024 was $236.6 million, a decrease of 34.5% compared to $361 million in the prior year period [31] - Adjusted EBITDA for Q4 2024 was $15 million, down from $21.5 million in the prior year period [32] - Net loss attributable to common stockholders for Q4 2024 was $16.9 million, or $1.29 per fully diluted share, compared to a net loss of $9.6 million, or $1.22 per fully diluted share in the prior year [32] Business Line Data and Key Metrics Changes - Life Sciences revenue increased 173.3% to $4.1 million from $1.5 million in the prior year quarter, primarily driven by R2's performance [36] - R2 achieved record top-line revenues of almost $10 million for the full year 2024, a 197% increase over 2023 [12] - Infrastructure segment revenue decreased 36.2% to $225.7 million from $353.8 million in the prior year quarter [33] - Spectrum's revenue for Q4 2024 was $6.8 million, an increase of $1.1 million compared to the fourth quarter of 2023 [37] Market Data and Key Metrics Changes - R2's system unit sales in North America grew 238% year-over-year, contributing to a 113% increase in worldwide system unit sales in Q4 2024 [13] - DBM Global's reported backlog was $1 billion, with an adjusted backlog of $1.1 billion at the end of Q4 2024 [35] - Spectrum's fourth quarter adjusted EBITDA increased to $2.3 million from $1.1 million in the prior year quarter [37] Company Strategy and Development Direction - The main objective for 2025 is to address the capital structure and near-term maturity of debt obligations [8] - The company is focused on leveraging valuable assets prior to debt maturities to achieve a sustainable capital structure [10] - MetaBeacon is exploring strategic alternatives with Jaffrey's Financial Group to maximize shareholder value following FDA approval [11] Management Comments on Operating Environment and Future Outlook - Management expressed optimism about the potential applications for the TGFR system and its impact on the market [11] - The company is cautiously monitoring the political landscape and its potential impact on construction material costs due to tariffs and inflation [21] - Management remains confident in DBM's ability to capitalize on opportunities driven by growth in cloud computing and AI [20] Other Important Information - Total consolidated debt decreased by $54.5 million compared to last year, primarily due to improved working capital [29] - The company ended Q4 2024 with $48.8 million in cash and cash equivalents, down from $80.8 million at the end of 2023 [39] Q&A Session Summary Question: Congratulations on the FDA approval of MetaBeacon. How deep into discussions is Jefferies right now? - Management indicated that discussions with medical device and pharmaceutical companies have been ongoing since the end of 2023, with FDA approval being a critical milestone [47] Question: Is the $400 million valuation from the previous equity injection still relevant in current discussions? - Management noted that the valuation was set back in 2019 and the current discussions will need to see how the process pans out [49] Question: How might tariffs impact the MetaBeacon business model and DBM Global's adjusted backlog? - Management stated that initial rollout and approval are in the U.S., and they do not foresee a significant impact from tariffs at this time [51][55]