Monogram Technologies (MGRM) Q1 2025 earnings summary

Executive summary

• Achieved FDA 510(k) clearance for the mBôs TKA System, enabling U.S. marketing and commercialization, and received regulatory approval in India for a 102-patient clinical trial with Shalby Limited.

• Preparing for pilot placements and live patient surgeries in the U.S. and India, with initial surgeries expected within the next quarter.

• No product revenue recognized in Q1 2025, but positioned for future growth following regulatory milestones.

• Focused on integrating system upgrades, building clinical evidence, and surgeon training to drive adoption.

Financial highlights

• Ended Q1 2025 with $13.3 million in cash and cash equivalents, down from $15.7 million at year-end 2024.

• Net loss for Q1 2025 was $3.2 million, an improvement from $3.5 million in Q1 2024, with total operating expenses down 8% year-over-year to $3.3 million.

• Monthly cash burn reduced to $0.8 million in Q1 2025, with a forecast of $1 million for the remainder of the year.

• Cash used in operating activities was $2.3 million for Q1 2025.

• Working capital was approximately $12.1 million as of March 31, 2025.

Outlook and guidance

• Anticipates live patient surgeries in India within 90 business days and U.S. pilot placement in Q2 or early Q3 2025.

• Expects to spend $1.2 million on clinical trials over the next six to nine months.

• Existing cash and equity agreements expected to fund operations for at least 12 months; plans to raise additional capital in 2025 to accelerate growth.

• Focused on expanding regulatory submissions and exploring strategic partnerships for broader adoption.