Ceribell Reports Fourth Quarter and Full Year 2024 Financial Results

Core Insights - Ceribell, Inc. reported a transformative year in 2024, focusing on becoming the standard of care for seizure management and executing key strategic initiatives, including an initial public offering [3] - The company aims to improve clinical outcomes for neurology patients and expand its indications to address unmet needs [3] Fourth Quarter 2024 Financial Results - Total revenue for Q4 2024 was $18.5 million, a 41$13.1 million in Q4 2023, driven by new account adoption and expansion within existing accounts [4] - Product revenue in Q4 2024 was $14.1 million, up 41$10.0 million in Q4 2023, while subscription revenue reached $4.4 million, a 40$3.1 million in Q4 2023 [4] - Gross profit for Q4 2024 was $16.2 million, with a gross margin of 88$11.1 million and 85% in Q4 2023 [5] Operating Expenses and Net Loss - Operating expenses in Q4 2024 were $29.1 million, a 49$19.5 million in Q4 2023, primarily due to investments in the commercial organization and increased headcount [6] - The net loss for Q4 2024 was $12.6 million, or$0.40 per share, compared to a net loss of $8.3 million, or$1.53 per share, in Q4 2023 [7] Full Year 2024 Financial Results - Total revenue for the full year 2024 was $65.4 million, a 45$45.2 million in 2023, with product revenue at $50.1 million and subscription revenue at$15.4 million [8] - Gross profit for the full year 2024 was $56.8 million, with a gross margin of 87$38.2 million and 84% in 2023 [9] - Operating expenses for the full year 2024 were $96.5 million, a 41$68.2 million in 2023, leading to a net loss of $40.5 million, or$3.39 per share [10] Cash Position - As of December 31, 2024, Ceribell had cash and cash equivalents totaling $194.4 million, a significant increase from$34.5 million at the end of 2023 [10] 2025 Financial Outlook - Ceribell expects revenue for the full year 2025 to be in the range of $81 million to$85 million, representing growth of approximately 24% to 30% over the previous year [11]