Significant Revenue and Gross Margin Growth
Product revenue increased 105% to $1.7 million and product gross margins increased to 53.9% in the third quarter of fiscal 2025 compared to 34.1% in the third quarter of fiscal 2024.
Successful Patient Outcomes
First patient reached the 1-year seizure freedom milestone with the OneRF ablation system, showing improved quality of life.
Debt-Free Status and Financial Stability
The company remains debt-free and is funded through fiscal year 2026, aided by an oversubscribed capital raise of $8.2 million.
Expansion into New Markets
Submitted 510(k) for FDA clearance for trigeminal neuralgia treatment and pursuing opportunities in pain management and spinal cord stimulation.
Intellectual Property and Management Strengthening
Received a notice of allowance for a novel manufacturing method and granted the first international patent for spinal cord stimulation electrode.
Decreased Operating Expenses and Improved Net Loss
Total operating expenses decreased 9% in the third quarter, and net loss improved to $1.5 million compared to $2.8 million in the previous year.