Monogram Orthopaedics Inc ( (MGRM) ) has released its Q4 earnings. Here is a breakdown of the information Monogram Orthopaedics Inc presented to its investors.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Monogram Technologies Inc., a company specializing in AI-driven robotics for orthopedic surgery, is advancing its innovative solutions in the healthcare sector. The company recently released its financial results for the year 2024, highlighting significant operational progress and strategic partnerships.
Monogram Technologies reported completing all supplemental testing and submitting a formal response to the FDA’s Additional Information Request, a crucial step towards obtaining clearance for its mBôs™ Total Knee Arthroplasty System. The company also announced a successful $13 million public offering and strategic collaboration with Shalby Limited for international clinical trials.
Key financial metrics for 2024 included a net loss of $16.3 million, up from $13.7 million in 2023, primarily due to increased general and administrative expenses. However, the company maintained a strong cash position with $15.7 million in cash and equivalents, reflecting its focus on efficient capital management.
Looking ahead, Monogram Technologies is optimistic about receiving FDA clearance for its mBôs™ TKA System, which would enable commercialization in the U.S. The company is also preparing for international clinical trials and exploring new partnerships to enhance its market presence. With a strengthened financial position, Monogram is poised to advance its mission of improving orthopedic surgical outcomes.