The following is a summary of the Vicarious Surgical Inc. (RBOT) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Vicarious Surgical reported a decrease in Q1 2024 total operating expenses to $16.1 million, down 28% from Q1 2023.

• The R&D expenses were reduced to $10 million during Q1 2024, compared to $13.4 million in Q1 2023.

• The company observed an adjusted net loss of $15.1 million, or $0.09 per share, in Q1 2024, lower than the $20.8 million, or $0.17 per share, loss reported in Q1 2023.

• The Q1 2024 balance sheet reports approximately $84 million in cash, cash equivalents, and short-term investments.

Business Progress:

• The successful completion of the spring cadaver lab at the end of March marked a significant milestone for Vicarious Surgical, with it being the inaugural use of their integrated V1.0 system in a cadaveric procedural setting.

• This lab demonstrated several advancements in development and provided valuable insights to Vicarious Surgical.

• Based on these insights, the company plans to refine their system for the upcoming formal verification and validation testing in the next few quarters.

More details: Vicarious Surgical IR

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