The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Frank Takkinen - Lake Street Capital Markets, LLC - Analyst
: Great, thanks for taking the questions and congrats on a really strong finish to the year and really strong total year. I was hoping to start with a little
bit around kind of mix of placements in the fourth quarter. I heard you call out 20 of those occurred in the US, but could you maybe talk a little bit
more to Femto naive, competitive change outs versus replacing LLS.
Question: Frank Takkinen - Lake Street Capital Markets, LLC - Analyst
: Yeah, that was perfect. And maybe just to follow up kind of on that a little bit more, I think you've talked about in the past kind of order of operations
first take market shares, second replace old LLS systems, and then third, start to go after that sent to a naive market as you've scaled throughout
the year and really proven out the benefits of the technology, maybe give an update on kind of that strategy itself and where we lie within that.
Question: Frank Takkinen - Lake Street Capital Markets, LLC - Analyst
: Okay, that's helpful. And then just last one for me, obviously you're taking a lot of market share, it's a competitive market. There's some other large
players in the market. Any changes you're seeing from how they're operating, any investments they're making into their technology or any, real
change on the competitive front?
Question: Frank Takkinen - Lake Street Capital Markets, LLC - Analyst
: Okay, that's helpful. Thanks for taking the questions and congrats again.
Question: Izzy - BTIG - Analyst
: Hi everyone, this is Izzy on for Ryan. Thank you for taking the questions. I apologize for any background noise. I just want to echo the congratulations
on the progress that you guys made in fourth quarter and in 2024 as a whole.
So just to start, appreciate that you are now providing some guidance for 2025, but I have a couple questions there. So, first, as you think about
the composition of sales for next year in the context of growing recurring revenue base, how are you thinking about, the split between, the mix of
sales and leases versus procedural or consumable revenue?
Question: Izzy - BTIG - Analyst
: Okay, that's helpful, thank you. And as we think about the [OU US] sales, do you have any expectations on when we might start to see an inflection
there given the timing of the product approvals?
Question: Izzy - BTIG - Analyst
: And just curious as you guys continue to expand into further or additional [OUS] markets, do you have any thoughts around you would like to
establish a direct presence or continue with the distributor model?
Question: Izzy - BTIG - Analyst
: Thank you. And then, Tom, last one for me just we noticed that there was a bit of a fluctuation or there's been some fluctuations in SG&A from
quarter to quarter, so I was curious if the $7 million that we saw for fourth quarter is the right base fund for 2025, or do you expect this to ramp up
as you continue to invest in growing the business?
Question: Izzy - BTIG - Analyst
: Alright, that's it for me. Thank you, guys, for taking the questions and congratulations again on the progress in 2024.
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