Solana Company Q3 FY2023 Earnings Call

· Earnings call transcript and AI-powered summary

Helius Medical Technologies - Q3 2023 Earnings Summary

  • Revenue: $143,000, down 27% year-over-year from $196,000 in Q3 2022, primarily due to termination of the Patient Therapy Access Program (PTAP) in June 2023. Canadian sales partially offset U.S. decline.
  • Canadian Growth: Canada revenue increased 29% YoY to $72,000. Expansion driven by distribution partnership with HealthTech Connex.
  • Financials:
    • Cost of Revenue: $187,000, up from $101,000 in Q3 2022 due to increased overhead.
    • SG&A Expense: $2.2 million, down from $3.4 million in Q3 2022, largely due to lower stock-based comp.
    • R&D Expense: Flat at $700,000 YoY.
    • Operating Loss: $3.2 million, improved from $4.9 million in Q3 2022.
    • Net Loss: $3.7 million, or $5.49 per share, compared to $1 million, or $2.90 per share, in Q3 2022.
  • Cash Position: $6.6 million in cash and no debt as of Sept 30, 2023; $4 million in warrant proceeds receivable; cash runway expected through Q2 2024.

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Operator: Good day, everyone. My name is Chelsea, and I will be your conference operator. At this time, I'd like to welcome everyone to the Helius Medical Technologies Third Quarter 2023 Financial Results. [Operator Instructions] As a reminder, this conference call is being recorded today, November 9, 2023. It is now my pleasure to turn the floor over to Michelle Bilski, Investor Relations for Helius Medical Technologies. Please go ahead. Michelle Gable Bilski Thank you, Chelsea. Welcome to the Third Quarter 2023 Earnings Conference Call for Helius Medical Technologies. This is Michelle Bilski of In-Site 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 involve inherent risks and uncertainties 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 quarte

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