Vicarious Surgical (US:RBOT)2025-05-12 21:32Financial Data and Key Metrics Changes - Total operating expenses for Q1 2025 were $15.7 million, a 2% decrease from $16.1 million in Q1 2024 [10] - R&D expenses for Q1 2025 were $9.4 million, down from $10 million in Q1 2024 [10] - GAAP net loss for Q1 2025 was $15.4 million or $2.6 per share, compared to a net loss of $17 million or $2.9 per share in Q1 2024 [11] Business Line Data and Key Metrics Changes - Sales and marketing expenses for Q1 2025 were $1 million, essentially flat compared to the prior year [10] - The company successfully built its first patient card and surgeon console for preclinical testing, marking significant progress in its development phase [7] Market Data and Key Metrics Changes - The company is preparing for its first human cases, focusing on ventral hernia repair, which aligns with its pivotal trial endpoints [8] - The collaboration with UMass Memorial Medical Center aims to optimize the implementation of the robotic system in clinical settings [9] Company Strategy and Development Direction - The company aims to revolutionize robotic surgery by overcoming limitations of existing surgical approaches, with a focus on minimally invasive procedures [5] - 2025 is positioned as a transformative year, with expectations to evolve into a clinical stage company and demonstrate the value of its single port surgical system [6] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the progress made in Q1 2025, which is expected to lead to the first major clinical milestone later this year [14] - The company is committed to disciplined spending and strategic financing to ensure continued operations and product development [17][18] Other Important Information - The company ended Q1 2025 with approximately $37 million in cash and short-term investments, with a cash burn rate of about $12 million for the quarter [11][12] - Full-year cash burn is expected to be around $50 million, indicating a focus on capital allocation [12] Q&A Session Summary Question: What assurances can you give to investors about your continued ability to fund operations? - Management emphasized disciplined spending and strategic evaluation of financing options, expressing optimism about support from existing and potential new investors [17][18] Question: How are you feeling about your ability to supply remaining components for the V1.0 build? - Management reported effective management of the supply chain, with no significant changes or adjustments to the schedule due to supply issues [20][21] Question: Can you provide details on the review timeline expectations for the technical dossier submission? - Management anticipates filing the technical dossier around mid-2025, with confidence based on assumptions from similar companies' experiences [27][28] Question: How could your hospital partners be additive to your development process? - Management highlighted that hospital partners are excited about the technology and are working on optimizing workflows, which will benefit the system's integration into clinical settings [29]