Vicarious Surgical (RBOT) AI Stock Analysis

• Market Cap: $6.41M
• Dividend Yield: N/A
• Average Volume (3M): 90.39K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.59
• Revenue Growth: N/A
• EPS Growth: 15.03%
• Country: US
• Employees: 123
• Sector: Healthcare
• Sector Strength: 45
• Industry: Medical - Devices
• EPS (TTM): -1.65
• Shares Outstanding: 6,463,251
• 10 Day Avg. Volume: 138,739
• 30 Day Avg. Volume: 90,387
• PEG Ratio: 0.01
• Price to Book (P/B): 1.31
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -0.29
• Enterprise Value/Market Cap: 1.72
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: -31.36
• Enterprise Value/Ebitda: -0.23
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): -4.07
• Revenue Forecast (FY): N/A

• Rating: 41 Neutral
• Price Target: $0.86 ▼(-52.75% Downside)
• Action: Reiterated Date: 03/17/26
• Date: Action: Reiterated 03/17/26

The score is driven primarily by very weak financial performance (no revenue, large losses, and heavy cash burn with shrinking equity) and bearish technicals (downtrend with negative momentum). Some offset comes from management’s cost-reduction actions and burn-reduction targets, but the OTC transition/delisting and ongoing funding/execution risks keep the overall score low.

Positive Factors

Reduced cash burn via cost discipline

Management's structural cost reductions and outsourcing drove guidance to ~ $19M burn in 2026 versus prior ~$50M, materially lowering near-term funding needs. Sustained lower burn improves runway and reduces the frequency/size of equity raises, increasing odds of reaching tech milestones without excessive dilution.

Progress toward system design freeze

A design freeze is a durable product-development milestone that enables regulatory filings, repeatable manufacturing and clinical protocols. Achieving it de-risks the platform, strengthens commercialization readiness, and forms the basis for recurring instrument and service revenue if executed on schedule.

Demonstrated procedural efficiency gains

Large reductions in procedure time indicate improved system stability and surgeon workflow gains. Durable OR time savings can drive hospital adoption, justify capital expenditure, and create recurring consumable/service demand, supporting a sustainable installed-base economics if clinical results replicate broadly.

Negative Factors

Pre-commercial with no revenue

The company remains pre-commercial with no reported revenue, leaving no gross-profit foundation to fund operations. This structural absence of product sales means prolonged reliance on financing to validate unit economics, delaying durable margin expansion and making long-term viability contingent on successful commercialization.

High historic cash burn and negative cash flow

Persistent large negative operating and free cash flows have materially eroded equity and require repeated capital raises. Structurally, sustained cash burn diverts management focus to fundraising, increases dilution risk, and limits ability to invest in commercialization until positive unit economics and revenue streams appear.

NYSE delisting and OTC transition

Transitioning from NYSE to OTC materially reduces market liquidity, institutional visibility, and convenient access to mainstream public equity. This structural handicap constrains future financing options, makes stock-based compensation less effective, and narrows the investor base — all lasting frictions for growth-stage capital needs.

Vicarious Surgical Business Overview & Revenue Model

Company Description

Vicarious Surgical Inc. engages in developing and selling single-incision surgical robot that virtually transports surgeons inside the patient to perform minimally invasive surgery. It offers Vicarious System, a single-incision surgical robot for ventral hernia repair. The company was incorporated in 2014 and is headquartered in Waltham, Massachusetts.

How the Company Makes Money

As of publicly available information up to the knowledge cutoff (2025-09), Vicarious Surgical is primarily a development-stage company and has not broadly commercialized its surgical robotic system. Therefore, detailed, stable revenue streams from product sales are not available. If the company commercializes as planned, its revenue model would typically be expected to include: (1) capital sales or leasing of the robotic surgical system to hospitals/ambulatory surgical centers; (2) recurring revenue from disposable instruments and single-use/limited-use accessories used per procedure; (3) service, maintenance, and support contracts; and (4) potential software-related revenue (e.g., system software, upgrades, or analytics) depending on packaging. Specifics such as current revenue contribution by stream, pricing, installed base economics, and the presence/terms of significant commercial partnerships are not available here and should be treated as null.

Vicarious Surgical Financial Statement Overview

Summary

Very weak fundamentals: zero revenue across multiple years, large and persistent net losses, and consistently negative operating/free cash flow. Equity has fallen sharply (2022 to 2025), increasing financial fragility and reliance on external funding despite some recent cost/burn improvement.

Income Statement

RBOT is still in a pre-commercial/early commercialization phase with zero reported revenue across 2020–2025 (annual). Losses remain very large and persistent, with net income worsening from -$12.9M (2020) to about -$50.2M (2025), despite some improvement from the peak loss in 2023–2024. With no meaningful gross profit base and continued heavy operating losses, profitability and operating leverage are not yet visible, keeping the income statement quality weak.

Balance Sheet

Leverage is moderate (2025 debt-to-equity ~0.79) and total debt is relatively small in absolute dollars (~$7.8M in 2025). However, the balance sheet has deteriorated materially as equity fell from ~$111.0M (2022) to ~$9.8M (2025), signaling significant cumulative losses and/or capital structure changes. Returns on equity are deeply negative in recent years (2025 ~-5.10), highlighting that the company is consuming shareholder capital faster than it is rebuilding it.

Cash Flow

Cash generation is a major concern: operating cash flow and free cash flow are consistently negative, with 2025 operating cash flow at about -$45.1M and free cash flow at about -$45.2M. While the cash burn improved versus 2023–2024, free cash flow growth turned sharply negative in 2025 (reflecting higher burn vs 2024). Cash flow broadly tracks net losses (free cash flow to net income ~1.0), suggesting losses are translating into real cash outflows rather than being cushioned by non-cash items.

Breakdown	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021
Income Statement
Total Revenue	0.00	0.00	0.00	0.00	0.00
Gross Profit	0.00	-2.11M	-1.85M	0.00	0.00
EBITDA	-50.03M	-61.12M	-69.19M	6.47M	-34.80M
Net Income	-50.18M	-63.22M	-71.07M	5.16M	-35.21M
Balance Sheet
Total Assets	19.58M	67.72M	119.86M	140.29M	181.68M
Cash, Cash Equivalents and Short-Term Investments	9.79M	49.10M	98.18M	116.21M	173.51M
Total Debt	7.79M	13.79M	14.83M	15.69M	1.34M
Total Liabilities	9.74M	21.02M	21.89M	29.25M	98.59M
Stockholders Equity	9.84M	46.70M	97.97M	111.05M	83.09M
Cash Flow
Free Cash Flow	-45.21M	-50.14M	-63.98M	-66.56M	-34.59M
Operating Cash Flow	-45.08M	-49.96M	-62.30M	-61.21M	-33.30M
Investing Cash Flow	32.15M	6.86M	-45.78M	-5.35M	-1.29M
Financing Cash Flow	5.76M	8.00K	44.70M	9.14M	192.16M

Vicarious Surgical Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.82
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Positive
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For RBOT, the sentiment is Negative. The current price of 1.82 is above the 20-day moving average (MA) of 1.41, below the 50-day MA of 1.96, and below the 200-day MA of 5.13, indicating a bearish trend. The MACD of -0.46 indicates Positive momentum. The RSI at 28.28 is Positive, neither overbought nor oversold. The STOCH value of 12.13 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for RBOT.

Vicarious Surgical Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
LIVN	68 Neutral	$3.36B	-13.83	-21.49%	―	8.97%	-1024.86%
XTNT	66 Neutral	$88.19M	17.28	3.64%	―	16.88%	―
INSP	66 Neutral	$1.68B	18.63	21.07%	―	16.81%	34.90%
Sector *	51 Neutral	$7.86B	-0.30	-43.30%	2.27%	22.53%	-2.21%
OM	51 Neutral	$61.27M	-0.69	-54.99%	―	4.65%	68.71%
PRCT	47 Neutral	$1.58B	-18.34	-25.13%	―	50.07%	21.22%
RBOT	41 Neutral	$6.41M	-0.26	-247.60%	―	―	15.03%

Vicarious Surgical Corporate Events

Vicarious Surgical Delisted to OTC as Losses Narrow

On March 3, 2026, the New York Stock Exchange moved to suspend and delist Vicarious Surgical’s common stock after the company’s market capitalization fell below the exchange’s $15 million continued listing threshold, and Vicarious Surgical chose not to appeal; its shares began trading the next day on the OTCID market under the symbol RBOT, and the company has applied to move up to the OTCQB tier, though trading liquidity and ongoing quotations remain uncertain for investors. In financial results reported on March 9, 2026 for the quarter and year ended December 31, 2025, Vicarious Surgical posted narrower GAAP net losses year over year, driven by sharp reductions in operating, R&D, G&A, and sales and marketing expenses, ended 2025 with $9.8 million in cash and investments after a $45.1 million annual cash burn below prior guidance, and provided updated 2026 cash burn guidance of about $19 million, underscoring an aggressive cost-control push as it navigates life on the over-the-counter market.

The most recent analyst rating on (RBOT) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Vicarious Surgical stock, see the RBOT Stock Forecast page.

Vicarious Surgical Implements Executive Salary Reductions, Maintains Incentives

On March 4, 2026, Vicarious Surgical Inc. amended the executive employment agreements of President Adam Sachs and Chief Technology Officer Sammy Khalifa, with both leaders voluntarily agreeing to reduce their annual base salaries to approximately $270,810 and $318,600, respectively. Despite these salary cuts, the company preserved their pre-amendment base levels for calculating target bonuses and severance, indicating a cost-conscious move that seeks to manage executive compensation while maintaining competitive incentive structures for key management.

The adjustments reflect an effort by Vicarious Surgical to realign cash compensation without undermining long-term incentives that could affect executive retention or performance, a balancing act closely watched by investors and employees. By keeping bonus and severance calculations tied to prior salary levels, the company signals a commitment to financial discipline while attempting to avoid destabilizing leadership incentives during a period that may demand strategic and operational focus.

The most recent analyst rating on (RBOT) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Vicarious Surgical stock, see the RBOT Stock Forecast page.

Vicarious Surgical Announces NYSE Delisting and OTC Transition

On March 3, 2026, Vicarious Surgical received notice that the New York Stock Exchange would immediately suspend trading and begin delisting its common stock after the company fell below the exchange’s $15 million average global market capitalization requirement over 30 trading days. Trading in the shares, which had been listed under the symbol RBOT, was halted after the March 3 market close as the company began evaluating whether to appeal the NYSE determination.

Vicarious Surgical has secured approval to have its stock quoted on the OTCID tier of OTC Markets, with trading expected to begin on March 4, 2026 under the same ticker, offering investors a more limited and potentially less liquid venue. The move off the NYSE is expected to reduce liquidity and could pressure the share price, while also constraining the company’s access to public equity financing and its ability to use stock-based incentives, potentially affecting existing shareholders, capital-raising plans and employee compensation.

On March 4, 2026, the company issued a press release formally announcing the NYSE delisting notice, the trading suspension and the planned transition of its shares to the OTC market. The announced changes underscore the financial market pressures facing the surgical robotics group as it pursues development and eventual commercialization of its Vicarious Surgical System and related technologies.

The most recent analyst rating on (RBOT) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Vicarious Surgical stock, see the RBOT Stock Forecast page.

Vicarious Surgical Enhances CEO and CFO Severance Protections

On February 2, 2026, Vicarious Surgical Inc. amended the employment agreement of Chief Executive Officer Stephen From to enhance his severance protections, including up to two years’ worth of salary and target bonus components, extended COBRA coverage, and full vesting of time-based equity awards if he is terminated without cause or resigns for good reason in connection with a change in control, subject to customary release and restrictive covenants. On February 1, 2026, the company also entered into a similar severance and change-in-control agreement with Chief Financial Officer Sarah Romano, granting her up to one year of salary and target bonus components, extended COBRA coverage, and full vesting of time-based equity awards under change-in-control termination scenarios, moves that underscore the company’s effort to secure and retain key leadership through potentially transformative corporate events.

The most recent analyst rating on (RBOT) stock is a Hold with a $2.00 price target. To see the full list of analyst forecasts on Vicarious Surgical stock, see the RBOT Stock Forecast page.

Vicarious Surgical Stockholders Approve Warrant Exercise Proposal

On January 9, 2026, Vicarious Surgical Inc. held a special meeting of stockholders at which holders of Class A and Class B common stock, representing approximately 78.18% of the company’s total voting power, formed a quorum to vote on a single proposal. Stockholders overwhelmingly approved the exercise of warrants issued on October 7, 2025 to purchase up to an aggregate of 2,300,000 shares of Class A common stock, a step that positions the company to potentially strengthen its capital base and financial flexibility as it advances its surgical robotics business.

The most recent analyst rating on (RBOT) stock is a Hold with a $2.50 price target. To see the full list of analyst forecasts on Vicarious Surgical stock, see the RBOT Stock Forecast page.