Tenon Medical(US:TNON)2025-03-20 22:40Financial Data and Key Metrics Changes - Revenue for the full year 2024 increased by 12% to $3.3 million compared to $2.9 million in 2023 [6][19] - Gross margin improved by 10 percentage points to 52% for the full year 2024, up from 42% in the prior year [7][22] - Fourth quarter revenue decreased by 4.7% to $770,000 compared to $808,000 in the fourth quarter of 2023 [19][20] - Net loss for the fourth quarter of 2024 was $3.1 million, flat compared to the same period in 2023, while the annual net loss decreased to $13.7 million from $15.6 million [24][25] Business Line Data and Key Metrics Changes - The number of surgical procedures using the Catamaran System showed a slight decrease in the fourth quarter, impacting revenue [20][21] - The alpha clinical review of the Catamaran SE platform was completed, with a full commercial launch expected in mid-2025 [8][9] Market Data and Key Metrics Changes - The reimbursement landscape remains challenging, with delays in pre-authorization impacting the number of procedures performed [19][33] - The company is actively working with decision-makers to improve clarity in the reimbursement environment [32][34] Company Strategy and Development Direction - The company is focused on expanding its sales force and enhancing market access efforts to drive revenue growth [21][37] - Investments are being made in the Catamaran SE platform and the MAINSAIL prospective study to support future growth [18][25] Management's Comments on Operating Environment and Future Outlook - Management anticipates that improvements in reimbursement clarity will positively impact future operations [33] - The company expects to incur additional losses in the future but is optimistic about improving its net loss over time [24][25] Other Important Information - The company received three U.S. patents related to the Catamaran portfolio during the fourth quarter, enhancing its competitive position [10][11] - The Catamaran SI Joint Fusion System's intellectual property portfolio now includes 12 issued patents and 23 pending applications [11] Q&A Session Summary Question: Any improvement in the reimbursement landscape? - Management noted that while they do not control the reimbursement environment, significant progress is being made towards clarity in the space [32][33] Question: Plans for sales perspective in 2025? - The company has made significant additions to its sales organization and anticipates increased coverage in key geographies [36][37] Question: How many independent distributors are currently engaged? - There are 42 existing independent distributor contracts, with varying sizes of distributorships [41][42]