Vicarious Surgical (RBOT) Q4 2024 earnings summary

Executive summary

• Achieved key development, regulatory, and commercial milestones in 2024, including successful integration and validation of Version 1.0 System and expansion of hospital partnerships with LSU Health New Orleans, Temple Health, and University of Illinois Health.

• Transitioning to a clinical stage company in 2025, with first human cases expected later in the year and clinical site selection advanced.

• Established robust manufacturing and supply chain foundations, overcoming procurement challenges.

• Appointed Sarah Romano as CFO, effective April 1, 2025.

Financial highlights

• Full year 2024 operating expenses were $66.6 million, down 17% from $80.7 million in 2023.

• R&D expenses decreased to $40.2 million from $47.6 million in 2023.

• Adjusted net loss for 2024 was $63.3 million ($10.75 per share), improved from $76.3 million ($15.67 per share) in 2023.

• GAAP net loss for 2024 was $63.2 million ($10.74 per share), compared to $71.1 million ($14.60 per share) in 2023.

• Year-end cash, cash equivalents, and short-term investments totaled $49.1 million; 2024 cash burn was $49.1 million, in line with guidance.

Outlook and guidance

• Anticipates a 2025 cash burn of approximately $50 million, similar to 2024.

• First clinical patients expected to be treated closer to year-end 2025, with de novo submission now expected in late 2026.

• Dossier submission to Ministry of Health targeted for mid-2025, with clinical trial to follow after approval.

• Inventory build and site approvals underway for clinical use.