The following is a summary of the Vicarious Surgical Inc. (RBOT) Q4 2024 Earnings Call Transcript:

Financial Performance:

• Vicarious Surgical reported a full-year 2024 GAAP net loss of $63.2 million, equating to a net loss of $10.74 per share.

• The company's total operating expenses for the full year 2024 were $66.6 million, demonstrating a decrease of 17% year-over-year.

• Research and Development (R&D) expenses in 2024 accounted for $40.2 million, reflecting a reduction from $47.6 million in 2023.

• Cash burn rate for 2024 was $49 million, with a remaining balance of $49 million in cash, cash equivalents, and short-term investments by year-end.

• In 2025, Vicarious Surgical anticipates maintaining a cash burn rate of approximately $50 million.

Business Progress:

• Successfully completed the integration of Version 1.0 System and finalized key manufacturing steps, setting a strong foundation for upcoming clinical trials.

• Established partnerships with major academic health systems like LSU Health New Orleans, Temple Health, and University of Illinois Health to support future clinical validation and training.

• Advanced towards first-in-human clinical trials, with plans for initial non-pivotal trials by the end of 2025.

Opportunities:

• Potential market adoption of the Version 1.0 system in various soft tissue procedures beyond the initial target of ventral hernia repair.

• Introduction of advanced AI features in future system iterations could enhance the platform's capabilities, making it more appealing to hospital systems.

Risks:

• Encountered and addressed component supply chain disruptions impacting the pace of inventory buildup and delaying critical production timelines.

• Regulatory complexities and requirements that may affect the timing and success of clinical trial approvals and subsequent system rollouts.

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