Vicarious Surgical Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $15.4 million, a decrease from the $17 million loss recorded in the same period of 2024. The company's operating expenses totaled $15.7 million, down 2% from $16.1 million year-over-year, primarily due to a reduction in personnel-related costs and other operational efficiencies. The net loss per share for the quarter was $2.60, compared to $2.90 in the prior year.
The company's cash and cash equivalents stood at $2.6 million as of March 31, 2025, a significant decline from $9.7 million at the end of 2024. Short-term investments also decreased to $34.8 million from $39.4 million. Vicarious Surgical's accumulated deficit increased to $211.3 million, reflecting ongoing investments in research and development without generating revenue. The company has not yet received FDA authorization for its surgical robotic system, which is critical for future revenue generation.
In terms of operational metrics, Vicarious Surgical's average headcount decreased by 6% to 123 employees, contributing to the reduction in operating expenses. The company continues to focus on developing its single-port surgical robot, which aims to improve surgical outcomes and reduce costs associated with traditional surgical methods. The company has engaged in discussions with potential investors to secure additional funding, as it anticipates needing substantial capital to support ongoing operations and product development.
Looking ahead, Vicarious Surgical faces challenges related to its compliance with the New York Stock Exchange's continued listing standards, as it received a notice indicating it no longer meets the minimum market capitalization requirement. The company plans to submit a compliance plan to the NYSE within the specified timeframe. Management has expressed concerns about the company's ability to continue as a going concern, emphasizing the need for additional financing to sustain operations beyond the next 12 months.
Overall, Vicarious Surgical remains in a pre-revenue stage, with significant investments in R&D and operational adjustments aimed at positioning itself for future growth. The company is actively pursuing FDA approval for its surgical system while navigating financial challenges and market conditions that could impact its strategic objectives.
About Vicarious Surgical Inc.
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