The following is a summary of the Helius Medical Technologies, Inc. (HSDT) Q4 2023 Earnings Call Transcript:
Financial Performance:
Helius Medical Technologies reported a Q4 2023 revenue of $134,000, a decrease from Q4 2022's $282,000.
Cost of revenue for Q4 2023 was lower at $90,000, compared to Q4 2022's $150,000.
Operating loss was narrowed to $2.2 million in Q4 2023, from a loss of $2.7 million in Q4 2022.
Net loss was significantly decreased to $1 million in Q4 2023, down from $4.9 million in Q4 2022.
As of the end of 2023, the company had $5.2 million in cash with no debt.
Business Progress:
Helius made progress in 2023 towards securing widespread reimbursement for their PoNS device and FDA approval for stroke treatment.
Unique HCPCS codes were obtained for the PoNS controller and mouthpiece.
A program started, aiming to validate the effectiveness of PoNS Therapy for stroke patients.
Regulatory submission for the therapy is planned for early 2025.
Canadian expansion continues and 2024 is expected to bring steady progress towards overall company goals.
The company implemented a telemedicine and e-prescribing hub aiming for speedy delivery of their PoNS devices.
Partnerships were made with UpScript and neurologists for quicker online diagnoses and e-prescriptions.
Online PoNS module training for physical therapists has also been established.
Six Centers of Excellence were added for the PoNS step clinical trial in 2023.
Veteran Affairs rehab specialists have shown interest in the PoNS device due to prevalence of balance issues in veterans.
Finally, the company will work towards procuring coverage and reimbursement for PoNS therapy.
More details: Helius Medical Technologies IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.