Helius Medical Technologies Inc ( (HSDT) ) has released its Q3 earnings. Here is a breakdown of the information Helius Medical Technologies Inc presented to its investors.
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Helius Medical Technologies, Inc. is a neurotechnology company that develops non-implantable medical devices aimed at alleviating symptoms of neurological diseases or injuries. Their primary product, the Portable Neuromodulation Stimulator (PoNS), is used to treat gait deficits and chronic balance deficits, particularly in patients with multiple sclerosis. In their latest earnings report, Helius Medical Technologies reported a net loss of $3.7 million for the third quarter of 2024, compared to a net loss of $3.7 million in the same period of 2023. Revenue for the quarter was $51,000, a decrease from $143,000 in the prior year. The company continues to face financial challenges, with cash and cash equivalents decreasing to $3.5 million as of September 30, 2024, from $5.2 million at the end of 2023. Helius Medical Technologies is focused on expanding its presence in the U.S. and Canada through strategic partnerships and ongoing commercialization efforts for its PoNS device. The company remains committed to its goal of achieving profitability and expanding its market reach, despite the current economic uncertainties and financial constraints.
