Vicarious Surgical (RBOT) Q1 2025 Earnings Call May 12, 2025 04:30 PM ET Speaker0 Hello, everyone, and welcome to the Vicarius Surgical twenty twenty five First Quarter Earnings Call. My name is Nadia, and I'll be coordinating the call today. Will now hand over to your host, Webb Campbell, Investor Relations, to begin. Webb, please go ahead. Speaker1 Good afternoon. Today, after market close, Vicarious Surgical released financial results for the three months ended 03/31/2025. A copy of the press release is ...

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $7,200,000, a 3% decrease from $7,300,000 in the prior year period, primarily due to delayed deliveries on several customer orders [25] - Gross profit improved to $5,200,000, representing 73% of total revenue, compared to $4,700,000 or 64% in the prior year period, reflecting a 25% decrease in cost of sales [26] - Operating income increased 110% to $1,400,000 compared to $650,000 in the prior year period, while net income rose 170% to $1,300,000 or $0.11 per diluted share [27] - Bookings for the quarter totaled $6,400,000, more than double the $2,900,000 reported in Q1 2024, contributing to $33,400,000 in total bookings over the trailing twelve months [28] Business Line Data and Key Metrics Changes - Government revenue for Q1 was $5,200,000, down from $6,700,000 in the prior year, while international revenue increased to $1,900,000 from $550,000 [25] - Backlog as of March 31, 2025, stood at $21,200,000, including $9,900,000 in capital, $5,800,000 in service, and $5,500,000 in STEP contracts [29] Market Data and Key Metrics Changes - The company is experiencing longer sales cycles and funding delays due to economic uncertainty and shifting agency priorities, but training mandates remain urgent [6][7] - Interest in flexible purchasing pathways, including subscription-based models, is increasing among agencies [7] Company Strategy and Development Direction - The company is focusing on operational execution, sales efficiency, and operational scalability to strengthen its market position [4][5] - A transition to a regional sales model with new leadership aims to improve accountability and responsiveness across key territories [11] - The introduction of standardized product bundles and entry into the GSA procurement channel is expected to streamline quoting and speed up fulfillment [12] Management's Comments on Operating Environment and Future Outlook - Management acknowledges ongoing macro headwinds affecting customer decisions but remains confident in the company's ability to adapt and deliver solutions [5][23] - The company is well-positioned to take advantage of changes in the Department of Defense's acquisition priorities, which emphasize speed and modernization [22][23] Other Important Information - The VXR extended reality platform is generating interest, with two units sold and more in discussions, reflecting the company's long-term strategy in immersive training [15][16] - The company has expanded its certified training content to over 120 hours, enhancing its training offerings for law enforcement and military partners [19] Q&A Session Summary Question: Did macro dynamics contribute to any orders being pulled into Q1? - Management indicated that there were funds in budgets that agencies were trying to spend before potential shutdowns, but the situation varies by agency [33][34] Question: Is there demand for VXR from other market verticals? - Management confirmed that grant activity is driving demand for VXR, with interest from adjacent markets like healthcare and private security [35] Question: Are customers being forced into three-year agreements for the STEP program? - Management clarified that while customers are encouraged to move to three-year agreements, options remain available for longer terms if needed [37][40]

Financial Data and Key Metrics Changes - As of March 31, 2025, the company had cash, cash equivalents, and short-term investments of approximately $27.1 million, down from $44.9 million as of December 31, 2024 [21] - Cash used in operations for Q1 2025 was $18.1 million, compared to $13 million for the same period in 2024 [22] - The net loss for Q1 2025 was $17.6 million, or $0.58 per share, compared to a net loss of $21.8 million, or $0.72 per share, for Q1 2024 [23] Business Line Data and Key Metrics Changes - Research and development expenses for Q1 2025 totaled $12 million, down from $13.3 million in Q1 2024, primarily due to lower study costs [22] - General and administrative expenses for Q1 2025 were $6.3 million, down from $9.7 million in Q1 2024, mainly due to a decrease in stock-based compensation [23] Market Data and Key Metrics Changes - The market opportunity for NDV-one includes approximately 75,000 new bladder cancer cases diagnosed each year in the U.S., with about 50% classified as high-grade disease [8] - Prader Willi syndrome, the first candidate indication for sopranolone, is estimated to affect approximately 350,000 people worldwide, including about 20,000 in the U.S. [16] Company Strategy and Development Direction - The company aims to advance its pipeline with two innovative product candidates, NDV-one for bladder cancer and sopranolone for Prader Willi syndrome and Tourette syndrome, both showing promising Phase two data [5][24] - The strategic plan includes securing U.S. IND clearance for NDV-one and progressing sopranolone into clinical development in early 2026 [15][20] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the potential of NDV-one to improve care for bladder cancer patients, citing strong Phase two data and a favorable safety profile [14][32] - The company is optimistic about the upcoming discussions with the FDA regarding the registration study for NDV-one, highlighting the well-known efficacy and safety of the drug combination [30][32] Other Important Information - NDV-one is designed to be administered in less than ten minutes in a doctor's office, contrasting with conventional chemotherapy that requires lengthy preparation and administration [10] - The company has a clean balance sheet and a disciplined approach to its development plan, positioning it well for advancing its clinical milestones [6][25] Q&A Session Summary Question: What gives confidence that the current data from the Phase two study would be sufficient for the FDA to agree for NDV-one to move into registrational study? - Management highlighted the established use of gemcitabine and docetaxel, the safety profile of NDV-one, and the ease of administration as key factors for confidence in FDA discussions [30][32] Question: Could you elaborate on scaling up supply? - Management indicated that scaling up supply involves preparing for commercial quantities and ensuring multiple manufacturers for risk management [44] Question: When should we look forward to sharing the complete response rate for the entire population? - The next data point will be the six-month assessment, expected around June or July, with further updates planned for nine and twelve months [48][49] Question: What would you want the phase three trial to look like in terms of time points, endpoints, and types of patients? - Management discussed potential routes for the phase three trial, including a single-arm chemoablation route or a randomized trial against placebo, depending on FDA feedback [56][58]

Financial Data and Key Metrics Changes - Q1 2025 revenues increased by 11% year over year to $21.9 million, with adjusted EBITDA improving to $1.5 million, a nearly $2 million increase year over year [3][10] - Gross margin decreased from 62% in Q1 2024 to 60.9% in Q1 2025, primarily due to product and channel partner mix [9][10] - The company reported a net loss of $2.2 million or $0.12 per share for Q1 2025, compared to a net loss of $6.9 million or $0.38 per share in Q1 2024 [10] - Operating cash flow was $3.9 million, with a cash balance of $16.6 million at the end of Q1 2025 [11] Business Line Data and Key Metrics Changes - Contracted revenue increased by over 25% year over year, exceeding $70 million as of the end of Q1 2025 [11] - Average revenue per top 20 pharmaceutical manufacturer is approximately $3 million, representing 63% of business in Q1 2025 [12] - Net revenue retention rate remains strong at 114%, with revenue per FTE increasing to $710,000 from $641,000 in Q1 2024 [12] Market Data and Key Metrics Changes - The company is experiencing early momentum in transitioning to a subscription-based model, with over 5% of projected annual revenue already converted to subscription contracts for 2025 [4][5] - The digital pharma marketing landscape is undergoing significant shifts, with the company positioned to reshape engagement between pharmaceutical companies, patients, and prescribers [5][6] Company Strategy and Development Direction - The company aims to address critical commercialization challenges in the pharma industry, including improving brand visibility and supporting the shift towards specialty medications [8] - Focus on operational excellence and customer relationships is expected to drive significant shareholder value [5][8] - The company is targeting Rule of 40 performance in the coming years, emphasizing disciplined cost management and targeted upselling strategies [4][5] Management's Comments on Operating Environment and Future Outlook - Management has not observed significant headwinds impacting the business despite market noise related to tariffs and price negotiations [4][18] - There is confidence in the ability to fund operating needs and strategic priorities, with a strong working capital position [11] - The company anticipates continued growth and is optimistic about achieving revenue guidance of $101 million to $106 million for the year [4][11] Other Important Information - The company is leveraging one of the largest point of care networks in the country to connect pharmaceutical manufacturers with healthcare providers [5][6] - The transition to subscription-based revenue is expected to smooth revenue recognition over time, enhancing financial stability [21][37] Q&A Session Summary Question: Concerns about market noise and customer hesitation - Management has not seen any pullback from clients and reports that customers are leaning into digital channels more than before [18][19] Question: Impact of subscription-based revenue on revenue recognition and margins - Subscription revenue spreads over a twelve-month period, but it is expected to be accretive due to low cost of sales [21][24] Question: Gross margin outlook - Current gross margin is expected to remain in the low 60% range, with efforts to increase it above that level [25][27] Question: Visibility on revenue and backlog - Committed revenue is north of 80%, indicating strong visibility for the year [31][32] Question: New business and RFP season performance - Both DTC and DAP components of the business are performing well, contributing to increased guidance [57][58] Question: Pipeline growth and win rates - The pipeline continues to grow steadily, with improved conversion ratios, particularly in data and subscription components [70][71] Question: Subscription deal structure - Current subscription deals are one-year evergreen arrangements, with plans to transition to multi-year deals in the future [73] Question: Guidance correlation between revenue and EBITDA - High-end revenue guidance correlates with high-end EBITDA, with a focus on gross margin mix being a key factor [75]

Radiant Logistics (RLGT) Q3 2025 Earnings Call May 12, 2025 04:30 PM ET Speaker0 Greetings, and welcome to the Radiant Logistics Third Quarter Fiscal Year twenty twenty five Earnings Call. At this time, all participants are on a listen only mode and a question and answer session will follow the formal presentation. Please note, this conference is being recorded. This afternoon, Bon Crane, Radiant Logistics' Founder and Chief Executive Officer and Radiant's Chief Financial Officer, Todd McCumber, will provid ...

Financial Data and Key Metrics Changes - The company recognized revenue of $7.5 million during Q1 2025, related to a milestone payment from a collaboration with Neurocrine [24] - Cash and cash equivalents totaled $691.1 million as of March 31, 2025, down from $754.4 million as of December 31, 2024 [24][25] - The company anticipates having sufficient cash to fund operations into 2027, supporting multiple registrational programs [25][26] Business Line Data and Key Metrics Changes - The Phase 3 epilepsy program, particularly the EXTOL-two study, is nearing the end of patient recruitment, with top-line results expected early next year [5][14] - The company is expanding its clinical development work in psychiatry, with ongoing enrollment in the Phase 3 MDD study X NOVA two and plans to initiate X NOVA three and a study in bipolar depression by mid-year [8][22] - The early-stage pipeline is gaining momentum, with multiple regulatory filings expected this year for first-in-human trials across various ion channel targets [9][10] Market Data and Key Metrics Changes - The company has received positive feedback from the epilepsy community regarding the need for new efficacious therapies, highlighting the potential of Ezetucalendar [7][16] - The company presented data at the American Academy of Neurology conference, showcasing the burden of illness for people living with epilepsy and the unmet needs in treatment [16][17] Company Strategy and Development Direction - The company is focused on advancing its neuroscience pipeline, with a particular emphasis on the Zetu calendar for epilepsy and its potential applications in neuropsychiatry [4][13] - The company aims to transition from a clinical-stage to a commercial organization, with plans for NDA submissions following positive Phase 3 results [26] - The strategy includes leveraging extensive knowledge in developing potassium and sodium channel therapeutics to broaden the pipeline [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the conduct and quality of the EXTOL-two study, despite slight delays, and emphasized the importance of the upcoming top-line data readout [14][42] - The management highlighted the excitement within the medical community regarding Ezetucalendar's potential to address unmet needs in epilepsy and neuropsychiatric disorders [7][22] - The company is entering a catalyst-rich period, with significant milestones expected in the near future [13] Other Important Information - The company plans to host multiple R&D webinars to showcase early-stage programs and engage with healthcare providers and patient communities [12] - The management noted that the Phase 3 program for MDD will not change based on the results of the investigator-sponsored study, maintaining the current entry criteria [50][51] Q&A Session Summary Question: Timeline for NDA filing after top-line epilepsy data - The company indicated that it typically takes about six months from top-line data to NDA filing, with critical clinical data being on the path [28] Question: Patient recruitment status for EXTOL-two - The company is nearing completion of patient recruitment for EXTOL-two, with variability in screening and randomization expected [33][35] Question: Reasons for slight timeline slippage for EXTOL-two - Management views the delay as minor and does not anticipate significant competitive impacts, noting that most clinical sites focus on one study at a time [42][44] Question: Inclusion of bipolar I and II patients in studies - The company decided to include both types based on advice from key opinion leaders, focusing on the depression aspect of both conditions [88][90] Question: Efficacy assessment for NAV1.1 in Dravet syndrome - The company plans to assess both seizure reduction and potential disease modification in its clinical development for NAV1.1 [64]

Xtant Medical (XTNT) Q1 2025 Earnings Call May 12, 2025 04:30 PM ET Speaker0 Good afternoon, everyone, and welcome to the Xtant Medical First Quarter twenty twenty five Financial Results. Please note this conference is being recorded. I will now turn the conference over to your host, Brett Maas of Hayden Investor Relations. Brett, the floor is yours. Speaker1 Thank you, operator. Joining me today is Sean Brown, President and Chief Executive Officer and Scott Neals, Chief Financial Officer. Today's call is b ...

Mineralys Therapeutics (MLYS) Q1 2025 Earnings Call May 12, 2025 04:30 PM ET Speaker0 Good afternoon, ladies and gentlemen, and welcome to the Minauralis First Quarter twenty twenty five Earnings Conference Call. At this time, all lines are in listen only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press 0 for the operator. This call is being recorded on Monday, 05/12/2025. I would now like to turn ...

Financial Data and Key Metrics Changes - In Q1 2025, the company generated adjusted EBITDA of $105 million, flat compared to the prior year, and consolidated revenue increased by 1% year-over-year, exceeding guidance of a low single-digit decline [5][11][13] - The consolidated direct operating expenses rose by 4.4%, primarily due to higher variable content costs associated with digital growth [12] - The company reported a GAAP operating loss of $25.4 million, an improvement from a loss of $34.7 million in the prior year [13][17] Business Line Data and Key Metrics Changes - The Digital Audio Group's revenue was $277 million, up 16% year-over-year, with adjusted EBITDA of $87 million, a 27.8% increase [6][14] - Podcast revenue within the Digital Audio Group grew by 28% year-over-year, significantly above guidance [6][15] - The Multi-Platform Group's revenue was $473 million, down 4.2% year-over-year, with adjusted EBITDA of $70 million, down 9.3% [7][16] - The Audio and Media Services Group's revenue decreased by 14.2% year-over-year to $59 million, with adjusted EBITDA down 33.3% [9][17] Market Data and Key Metrics Changes - iHeartMedia's share of advertising revenue in measured markets grew to 40%, indicating a strong position among national advertisers [8][9] - The company noted that the largest gains in advertising revenue came from professional services, tech and telco, beauty and fitness, and education, while declines were seen in restaurants, auto, gambling, and political categories [11][12] Company Strategy and Development Direction - The company is focused on leveraging new technologies, including programmatic and AI, to enhance operational efficiency and drive growth [4][5] - A modernization program is expected to generate $150 million in net savings in 2025, primarily through technology and AI [9][13] - The company aims to reignite growth in its broadcast radio business while maintaining leadership in podcasting [9][10] Management's Comments on Operating Environment and Future Outlook - Management expressed cautious optimism regarding the advertising marketplace, noting stable ad spend despite economic uncertainties [4][11] - The company anticipates Q2 2025 adjusted EBITDA in the range of $140 million to $160 million, with revenue expected to decline low single digits compared to the prior year [18] - Future guidance remains contingent on macroeconomic conditions improving in the latter half of the year [19] Other Important Information - The company reported a net debt of approximately $4.6 billion and total liquidity of $569 million, with a cash balance of $168 million [17] - Free cash flow for Q1 was negative $80.7 million, consistent with the prior year, but positive free cash flow is expected in the remaining quarters of 2025 [17] Q&A Session Summary Question: Insights on the advertising market and visibility - Management noted that larger advertisers are maintaining their spending, while small and medium-sized businesses are more affected by economic news [22][23] Question: Market share in terrestrial radio - Management highlighted that broadcast radio has more listeners than a decade ago, and the focus is on monetization through digital platforms [27][28] Question: Podcasting growth drivers - The company emphasized its strong podcast portfolio and audience, which continues to grow, contributing to revenue acceleration [35][38] Question: Cost savings and future opportunities - The $27 million in cost savings for Q1 was actual impact, with expectations of continued savings throughout the year [50][51] Question: Nielsen's updated ratings methodology - Management expressed optimism about Nielsen's efforts to capture more accurate listening data, which is crucial for advertising effectiveness [53][54] Question: Programmatic advertising adoption - Management indicated that while programmatic advertising is progressing, it has not yet materially impacted Premier Networks' performance [58][59]

Exodus Movement (EXOD) Q1 2025 Earnings Call May 12, 2025 04:30 PM ET Speaker0 Hi, everyone. Thanks for being here, and welcome to Exodus' first quarter twenty twenty five earnings conference call. I'm your host, Elizabeth Shores, and with us today are Exodus' cofounder and CEO, JP Richardson, alongside CFO, James Grunetzky. Now during today's call, we may make forward looking statements. The company cautions investors that any forward looking statement involves risks and uncertainties and is not a guarante ...