Q4 2024 InspireMD Inc Earnings Call Transcript
Key Points
- CGuard revenue reached a new quarterly high of $1.95 million in Q4 2024, reflecting a 10.6% growth year-over-year.
- InspireMD Inc (NSPR) is on track for anticipated US approval and launch of CGuard Prime in the first half of 2025.
- The C-GUARDIANS pivotal clinical trial showed unprecedented low major adverse event rates, supporting the efficacy of CGuard Prime.
- InspireMD Inc (NSPR) has strategically positioned its new headquarters in Miami, Florida, to support the anticipated US launch.
- The company has onboarded over a dozen world-class field sales professionals, preparing for a robust US market entry.
- Gross profit for Q4 2024 decreased by 7.1% to $469,000 due to increased costs of goods sold.
- Gross margin decreased to 24.1% in Q4 2024 from 28.7% in Q4 2023, primarily due to higher material and labor costs.
- Total operating expenses for Q4 2024 increased by 55.8% to $9.8 million, driven by higher salaries and share-based compensation.
- Net loss for Q4 2024 totaled $9.1 million, an increase from a net loss of $5.4 million in the same period in 2023.
- Cash and cash equivalents decreased to $34.7 million as of December 31, 2024, from $39 million the previous year.
Please standby. Your program is about to begin. (Operator Instructions) Hello, and welcome to InspireMD's fourth-quarter 2024 earnings conference call. (Operator Instructions) As a reminder, this call is being recorded for replay purposes.
I would now like to turn the call over to Webb Campbell from Gilmartin Group for introductory disclosures. Please go ahead.
Thank you for joining us for the InspireMD fourth-quarter 2024 conference Call. Joining us today from InspireMD are Marvin Slosman, Chief Executive Officer, and Craig Shore, Chief Financial.
During the call, management will be making forward-looking statements, not historical facts, which are based upon management's current expectations, beliefs and projections, many of which, by their nature, are inherently uncertain. These forward-looking statements involve risks and uncertainties that may cause actual results to differ materially from those expressed in such forward-looking statements. For more information about these risks,
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