Financial Data and Key Metrics Changes - Revenue for Q1 2025 was $8.3 million, down from $10.7 million in Q1 2024, primarily due to lower unit sales to the largest customer [13] - Gross profit for Q1 2025 was $4.4 million, resulting in a gross margin of 52% [14] - The company reported a net loss of $2.6 million or a loss of $0.16 per share compared to net income of $2.3 million or $0.14 per diluted share in the prior year quarter [17] Business Line Data and Key Metrics Changes - The company shipped 21 SRT systems in Q1 2025, bringing the total installed base to over 880 systems [4] - There was a 65% increase in patient treatments from fair deal agreement installations when comparing Q1 volumes with Q4 [8] Market Data and Key Metrics Changes - The company expects to surpass 900 systems by the end of Q2 2025 and aims to reach 1,000 units under direct sale within the next twelve months [5] - The fair deal agreement program is anticipated to contribute significantly to revenue in the second half of 2025 [10] Company Strategy and Development Direction - The company is focusing on expanding its fair deal agreement program, which aligns financial interests with patient volume and practice utilization [9] - The international strategy is progressing, with participation in major industry events and targeted marketing activities [11] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about returning to profitability in each of the next three quarters and for the full year [5] - The company is strategically executing plans to build sustainable long-term growth through FDA installations and product innovation [12] Other Important Information - Operating expenses increased significantly due to strategic growth initiatives, with general and administrative expenses rising to $2.2 million from $1.6 million a year ago [15] - Research and development expenses increased to $2.6 million from $0.9 million in the prior year period, reflecting continued investment in product innovation [16] Q&A Session Summary Question: How does the first quarter of 2025 compare to the first quarter of 2024? - Management expects each subsequent quarter to be profitable, driven by revenues from fair deal agreements and product sales [22] Question: Did any part of the first quarter revenue come from the fair deal agreement? - Yes, but it was not large enough to make a significant impact [24][26] Question: Has the existing U.S. tariff policy affected business confidence? - So far, there have been no observed tariff repercussions on any of the businesses [27] Question: What is the anticipated volume once fair deal agreements are fully operational? - It typically takes four to five months from signing an agreement to initial revenue generation [31] Question: What is the current installed base and target goal by the end of 2025? - The company is not providing specific guidance on the target goal but is moving along aggressively [45] Question: What marketing support will be provided to clinics to help them reach mature utilization rates? - The company will provide analytics and aggressive marketing strategies to help clinics attract patients [46] Question: What is the expected timeline for receiving payments after treatments? - Payments are typically received between 45 and 60 days after treatments [55] Question: What is the profile of attendees at smaller conferences? - Smaller conferences attract practitioners who may not attend larger events, providing opportunities for FDA agreements [57] Question: How do the installations match up with patient databases? - The installations tend to match well with the patient data, enhancing confidence in the targeted areas for treatment [61]