Solana Company Q2 FY2024 Earnings Call

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Helius Medical Technologies Q2 2024 Earnings Summary

  • Total Revenue: $182,000, down 29% year-over-year from $256,000 in Q2 2023, due to the conclusion of the Patient Therapy Access Program (June 2023) and discontinuation of temporary cash-pay pricing (May 2024).
  • Revenue Q/Q Growth: Up 35% from Q1 2024, driven by increased sales in the U.S. and Canada.
  • Cost of Revenue: $118,000, down from $184,000 in Q2 2023 due to reduced sales volume.
  • Total Operating Expenses: $3.3 million, flat year-over-year.
  • R&D Expenses: $0.9 million, up from $0.7 million in Q2 2023 due to increased activity related to stroke and fall risk studies.
  • Net Loss: $1.6 million, unchanged compared to Q2 2023. EPS improvement to $(0.64) from $(2.92) due to a larger share base.
  • Cash Burn (YTD): $5.9 million, flat compared to 1H 2023.
  • Cash Position: $6.4 million as of June 30, 2024; no debt.
  • May 2024 Financing: $6.4 million raised via public offering; $5.5 million net proceeds, runway extended into 2025. Callable warrants for an additional $6.4 million may further extend runway into H2 2025.

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Operator: Good day, and thank you for standing by. Welcome to the Helius Medical Technologies Second Quarter 2024 Earnings Conference Call [Operator Instructions]. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your speaker today, Michelle Bilski, Investor Relations for Helius Medical. Please go ahead. Michelle Bilski: Thank you, operator. Welcome to the Second Quarter 2024 Earnings Conference Call for Helius Medical Technologies. This is Michelle Bilski of Insight Communications, Investor Relations for Helius. With me on today's call are Dane Andreeff, Helius Medical's President and Chief Executive Officer; and Jeff Mathiesen, Chief Financial Officer. At this time, all participants have been placed in a listen only mode. Please note that this call is being recorded and access to the webcast can be obtained through the Investors section of the Helius website at www.heliusmedical.com. Before we begin, I would like to remind everyone that our remarks and responses to your questions today may contain forward-looking statements that are based on the current expectations of management. These forward-looking statements, including statements regarding potential reimbursement pricing, involve inherent risks that could cause actual results to differ materially from those indicated, including those identified in the Risk Factors section of our most recent annual report on Form 10-K and our most recent quarterly report on For

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