Perimeter Medical Imaging AI Inc (Pynkf) Q1 2025 profit sound Highlights: record income …

Appearance date: May 13, 2025

For the complete protocol of the earnings call, see the full profit call transcription.

• The Perimeter Medical Imaging AI Inc (Pynkf) recorded an increase in sales of 460% for the first quarter of 2025 compared to the first quarter of 2024, which indicates strong sales growth.

• The company reached several commercial milestones, including the first sale and records of patients who were supported by the S -series OCT.

• Perimeter's B series OCT system, which combines AI technology with optical coherence tomography, showed promising results in a central clinical study, with the primary endpoint being achieved.

• The FDA PMA submission for the B series OCT is a considerable regulatory milestone that may be paving the way for the complete commercial start.

• The company is expanding its market presence with new installations in three other states: New Mexico, Tennessee and Arizona.

• The Perimeter Medical Imaging AI Inc (Pynkf) recorded a net loss of $ 4.3 million for the first quarter of 2025, which compared to the loss of $ 2.1 million in the first quarter of 2024.

• The operating costs were a high company in the first quarter of $ 4.6 million, unchanged compared to the previous year.

• The company has limited cash reserves with cash and cash equivalents of $ 2.4 million on March 31, 2025, which requires additional capital to carry out its growth strategy.

• There is uncertainty about the time of the FDA approval for the B series OCT, since the company expects another feedback from the agency.

• The company faces challenges in expanding its user base, as it is based on a small sales team and has to navigate with complex procurement processes from the hospital.

Q: Can you give an overview of your sales models and details on the latest capital sale? A: Our sales model comprises three streams: consumables, service contracts for hardware and capital sales. The latest capital sale was to a new customer. Various hospitals have different approaches to capital purchases and we want to take their preferences into account. Our focus is on placing devices and the generation of recurring income of consumables, regardless of whether the machine is placed or sold. – Adrian Mendez, CEO

Q: How do you see the accuracy number of 88.1% from the attempt and is there space for improvements? A: There is definitely space for improvements. We have a new model that surpasses what was used in the attempt. With more data and a better algorithm we want to increase the accuracy in the 90s. The accuracy is crucial because it measures the device's ability to find diseases and call up negative margins exactly, which is important for both cosmetic and financial reasons. – Andrew Berkeley, Chief Innovation Officer