The following is a summary of the Tivic Health Systems, Inc. (TIVC) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Tivic Health Systems reported a decrease in revenue to $1.2 million due to a slump in ClearUP unit sales, offset by a significant 46% increase in the average selling price per unit.

• The gross profit stood at $287,000 for 2023, and the company reduced its net loss to $8.2 million compared to $10.1 million in 2022.

• Through the sale of common shares, the company was able to generate a net proceed of $7.9 million in 2023.

• The firm maintained a solid no-debt balance sheet with $3.4 million in cash and cash equivalents by the end of 2023.

Business Progress:

• Tivic embarked on a program to stabilize and optimize its business, securing its supply chain and conducting market segmentation and pricing studies to enhance gross profitability.

• An approximately 50% increase in product pricing in Q2 2023 affected unit volume negatively but improved gross profit.

• Newly established partnerships with McKesson, Simply Medical, Cardinal Health, and Cencora hold potential for increased sales of the ClearUP product.

• Tivic introduced the ClearUP device to over 2,500 healthcare providers in partnership with InStep Health.

• The company managed to cut down on operational expenses by reducing headcount and regained compliance with NASDAQ Continued Listing rules.

• Exploration into non-invasive vagus nerve stimulation technology signals progressive development in new medical niches.

More details: Tivic Health Systems IR

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