Perimeter Medical Imaging AI (OTCPK:PYNK.F) 2025 Conference Transcript

Summary of Perimeter Medical Imaging AI Conference Call Company Overview - Company Name: Perimeter Medical Imaging AI - Ticker: OTCPK:PYNK.F - Location: Toronto, Canada, with a significant presence in the United States - Founded: Approximately 10 years ago - CEO: Adrian Mendez Industry Context - Industry: Medical Imaging, specifically focused on cancer surgery - Problem Addressed: High rates of reoperation due to incomplete cancer removal during initial surgeries Key Products - Current Product: S Series, already in the market and generating revenue - Next Generation Product: B Series, currently under FDA review, incorporates AI technology Core Points and Arguments - Surgery Challenges: High reoperation rates for various cancers, with statistics indicating 23% for breast cancer, 12% for thyroid, and 21% for prostate cancer surgeries [6][10][26] - Imaging Technology: Utilizes Optical Coherence Tomography (OCT), which provides high-resolution imaging down to 15 microns, allowing for better detection of cancer cells compared to traditional methods [12][14] - Operational Efficiency: The technology allows surgeons to assess margins in real-time, reducing the need for follow-up surgeries and improving patient outcomes [25][26] - Market Size: The breast cancer surgery market alone sees approximately 250,000 surgeries annually in the U.S., indicating a significant market opportunity [20] - Revenue Model: The company has a high-margin consumable model with over 90% gross margin on single-use containers and 50% on hardware sales [42][43] Financial Performance - Historical Revenue Growth: Transitioned from a model of free machine placement to charging for consumables, with price increases from $750 to over $1,000 without losing customers [41][42] - Projected Margins: Currently projecting gross margins around 70%, with potential for further growth as the business scales [43][44] FDA Approval Process - Breakthrough Device Designation: The company has received this designation, allowing expedited review of their products [78] - Expected Approval Timeline: Anticipated FDA approval for the next-gen AI product in Q1 2026 [31][79] Competitive Advantage - Unique Technology: The company claims no other competitor can solve the problem of margin detection as effectively, positioning itself strongly in the market [57] - Data Library: Over 2 million images collected for training algorithms and improving diagnostic accuracy [21][48] Market Strategy - Surgeon-Led Demand: Growth driven by surgeons who have successfully used the device and are recommending it to peers [39] - Expansion Plans: Focus on building a sales force to penetrate key markets in the U.S., particularly in high-density areas like New York and Boston [44][47] Additional Insights - Patient Impact: The technology not only improves surgical outcomes but also reduces the emotional and logistical burden on patients who would otherwise face repeat surgeries [8][10] - Insurance Considerations: The company is gathering data to demonstrate cost-effectiveness to insurance providers, which is crucial for market adoption [68] Management Team - CEO Background: Adrian Mendez has experience in AI hardware and has led the company through a turnaround phase [50] - Key Personnel: Includes a chief medical officer with extensive experience in breast surgery and a sales leader with a track record in medical device companies [52][54] Conclusion - Market Potential: The company is positioned in a large and growing market with a unique solution that addresses significant pain points in cancer surgery, backed by strong technology and a solid management team [56][58]