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Helius Medical Technologies (HSDT) investor relations material
Helius Medical Technologies Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue for Q2 2025 was $43K, down 76% year-over-year, with a net loss of $9.8M compared to $1.6M in Q2 2024, driven by lower sales and a $6.0M loss from derivative warrant liability changes.
Cash and cash equivalents increased to $6.1M as of June 30, 2025, following a $9.1M equity offering and $1.3M private placement, but the company continues to face substantial doubt about its ability to continue as a going concern.
Two reverse stock splits were executed in Q2 and Q3 2025 to regain Nasdaq compliance, and the company is now in compliance with all listing requirements.
The company is pursuing reimbursement for its PoNS device, with several major healthcare payers approving claims in 2025, and is advancing a pivotal stroke study with FDA submission expected in Q3 2025.
Financial highlights
Q2 2025 revenue was $43K, down from $182K in Q2 2024; six-month revenue was $92K, down from $317K year-over-year.
Net loss for Q2 2025 was $9.8M, compared to $1.6M in Q2 2024; six-month net loss was $13.7M, up from $4.1M year-over-year.
Gross loss for Q2 2025 was $53K, compared to gross profit of $64K in Q2 2024; six-month gross loss was $125K versus $76K profit year-over-year.
Operating expenses for Q2 2025 were $3.3M, flat year-over-year; six-month operating expenses rose to $7.2M from $6.8M.
Cash used in operations for the first half of 2025 was $6.3M; net cash provided by financing activities was $11.3M.
Outlook and guidance
Management expects continued operating losses and negative cash flow until revenue growth supports the cost structure; current cash is expected to fund operations into Q2 2026.
Additional capital will be required to fund operations and clinical trials beyond Q2 2026; failure to raise capital may force asset sales or cessation of operations.
FDA submission for stroke indication is planned for Q3 2025, with potential authorization by late 2025 or early 2026.
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