10-K - Vicarious Surgical Inc. (0001812173) (Filer)

Mon, Mar 17, 9:01 PM (40 days ago)

### Summary of Vicarious Surgical Inc. (RBOT) #### **Financial Performance:** - **Revenue:** No revenue generated to date. - **Net Income:** Net losses of $63.2 million and $71.1 million for the years ended December 31, 2024 and 2023, respectively. - **Operating Expenses:** Total operating expenses decreased by 17% from 2023 to 2024, primarily due to decreases in personnel-related expenses, insurance expense, materials and supplies, and software expense. - **Cash Position:** As of December 31, 2024, the company held cash and cash equivalents of $9.7 million and short-term investments of $39.4 million, which are expected to fund operations into the first quarter of 2026. #### **Strategic Overview:** - **Product:** Developing a single-port surgical robot using proprietary de-coupled actuators to perform minimally invasive surgical procedures. - **Market:** Estimated 45 million soft tissue surgical procedures annually worldwide, with over 50% performed by open surgery and less than 5% by existing robot-assisted minimally invasive surgery. - **Regulatory:** Seeking FDA authorization for use in ventral hernia repair procedures, with plans to expand to other surgical applications. #### **Future Outlook:** - **Revenue Generation:** Dependent on FDA authorization and successful commercialization of the Vicarious Surgical System. - **Funding:** Requires additional capital to support operations, research and development, and commercialization efforts. - **Market Position:** Aims to democratize surgery through widespread access to a more capable and affordable surgical robotic platform. #### **Risk Factors:** - **Financial Condition:** Substantial doubt about the ability to continue as a going concern due to negative cash flows and accumulated deficit. - **Operational Risks:** Dependence on key management personnel, competition, and the ability to raise additional capital. - **Regulatory Risks:** Uncertainty regarding FDA authorization and the ability to commercialize the product. #### **Financial Condition:** - **Cash Flow:** Net cash used in operating activities was $49.9 million and $62.3 million for the years ended December 31, 2024 and 2023, respectively. - **Investing Activities:** Net cash provided by investing activities was $6.9 million and net cash used by investing activities was $45.8 million for the years ended December 31, 2024 and 2023, respectively. - **Financing Activities:** Net cash provided by financing activities was $8 and $44.7 million for the years ended December 31, 2024 and 2023, respectively. #### **Market Position Changes:** - **Competition:** Faces competition from larger and well-established companies in the medical device industry. - **Intellectual Property:** Relies on patent protection and other intellectual property rights to protect proprietary technology. - **Regulatory Environment:** Subject to extensive FDA regulation and other government authorities, which could impact the ability to commercialize the product.