In This Story
Vicarious Surgical Inc. Class A (RBOT+1.97%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net loss of $63.2 million for the year, compared to a net loss of $71.1 million in the previous year. The decrease in net loss is attributed to reduced operating expenses.
Research and development expenses decreased by 16% to $40.2 million, primarily due to a reduction in personnel-related expenses and materials costs.
Sales and marketing expenses were reduced by 27% to $4.5 million, driven by lower personnel and professional services costs.
General and administrative expenses decreased by 19% to $21.9 million, with significant reductions in insurance expenses and professional services.
The company reported a gain of $43 related to the change in fair value of warrant liabilities, compared to a gain of $5.2 million in the previous year.
Vicarious Surgical ended the year with $9.7 million in cash and cash equivalents and $39.4 million in short-term investments.
The company anticipates that its current cash resources will be sufficient to fund operations into the first quarter of 2026, but acknowledges substantial doubt about its ability to continue as a going concern without additional funding.
Vicarious Surgical plans to continue developing its surgical robotics technology and is seeking FDA authorization for its Vicarious Surgical System for use in ventral hernia repair procedures.
The company is exploring various strategies to obtain additional funding, including equity and debt placements, licensing arrangements, and strategic partnerships.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Vicarious Surgical Inc. Class A annual 10-K report dated March 17, 2025. To report an error, please email earnings@qz.com.