MEDTECH ACQUISIT(MTAC) - 2024 Q4 - Annual Results

Financial Performance - Total revenue for 2024 was $29.4 million, representing a 59$8.3 million, reflecting a 44% increase compared to the same quarter in the previous year[6] - Revenue for the three months ended December 31, 2024, was $8,261 million, a 44.5$5,721 million in the same period of 2023[23] - Gross profit for the twelve months ended December 31, 2024, reached $25,328 million, up from$15,906 million in 2023, reflecting a 59.3% year-over-year growth[23] - The net loss attributable to common stockholders for the twelve months ended December 31, 2024, was $33,233 million, compared to a net loss of$63,602 million in 2023, indicating a 47.8% improvement[23] Margins and Expenses - Gross margin for Q4 and full year 2024 was 85% and 86%, respectively[6] - Research and development expenses for the three months ended December 31, 2024, were $2,959 million, a decrease of 61.9$7,769 million in the same period of 2023[23] - Sales and marketing expenses increased to $7,010 million for the three months ended December 31, 2024, compared to$5,604 million in the same period of 2023, representing a 25.0% increase[23] Future Outlook - The company expects to achieve greater than 50% revenue growth in 2025 and reduce operating expenses by more than 20%[3][19] - The company anticipates being EBITDA positive for 2025 and achieving positive cash flow in the second half of the year[14][19] Clinical Programs - The DELIVER clinical program aims to enhance the safety and efficacy of the TriNav system, with a focus on complex cancer cases[6][7] - The PROTECT study is expected to expand the addressable market by approximately 50,000 procedures, representing an incremental $400 million opportunity[8] - Enrollment in the PERIO-03 Phase 1 trial for locally advanced pancreatic cancer has been completed, with final data expected mid-2025[9] Financial Position - The company secured a$10 million drawdown under its existing $50 million credit facility, ensuring financial flexibility through the end of 2025[11] - Cash and cash equivalents were$8.5 million as of December 31, 2024, with sufficient liquidity expected throughout 2025[15] - Total current assets decreased slightly to $20,669 million as of December 31, 2024, from$20,862 million in 2023[25] - Cash and cash equivalents decreased to $8,525 million as of December 31, 2024, down from$11,777 million in 2023[25] - Total liabilities decreased to $49,865 million as of December 31, 2024, from$51,663 million in 2023, reflecting a 3.1% reduction[25] - The accumulated deficit increased to $(279,549) million as of December 31, 2024, compared to$(249,504) million in 2023[25] - The weighted average common shares outstanding increased to 27,551,189 for the three months ended December 31, 2024, from 23,231,975 in the same period of 2023[23]