Significant Revenue Growth
Total revenue for the fourth quarter of 2024 was $68.2 million, representing growth of 57% compared to the fourth quarter of 2023. The full year revenue was $224.5 million, marking a growth of 65%.
Successful HYDROS Robotic System Launch
Received FDA 510(k) clearance for the HYDROS Robotic System, which saw a positive market reception and exceeded expectations. HYDROS accounted for 95% of the 60 systems sold in Q4, with an average selling price of approximately $460,000.
Prostate Cancer Initiative Progress
Successfully demonstrated that Aquablation therapy does not spread cancer cells, leading to FDA lifting the contraindication for patients with prostate cancer. Initiated a pivotal randomized study for prostate cancer with FDA-IDE approval.
International Revenue Surge
International revenue in the fourth quarter was $7.8 million, representing growth of 137% compared to the prior year period, driven by strong sales in the UK.
Record Gross Margin
Achieved a record gross margin of 64% in Q4 2024, an improvement due to operational efficiencies and higher HYDROS System selling prices.