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: Lily Lozada - JPMorgan Chase & Co. - Analyst
: All right. Maybe we can start with fourth quarter. You guys preannounced good results with sales [$28.6 million, about $3 million] ahead of the
Street. So can you start just by walking us through what really drove the strength in the quarter and the trends that you saw in terms of LTD
placements and LTL utilization.
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: Great. And so you also guided to sales of $128 million to $135 million for 2024. Can you walk us through what assumptions are underpinning that
guidance for next year at the high and the low end?
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: So obviously, there's no quarterly guidance out there. But anything you can share in terms of cadence and dynamics we should be keeping in mind
as we model out the year?
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: Maybe digging into a little bit on what's your outlook on the health of the capital equipment environment? And what are you assuming in terms
of that for guidance this year?
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: Great. Maybe taking a step back and looking at the broader market opportunity here on how many centers are you in with the LDT today versus
the potential over time? And then similarly, with the LAR, what do you think your share is today and where do you think that can go?
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: So as we look out to 2024 and further out, what are you focusing on and where do you think the biggest opportunity for growth is here? Is it placing
more LDDs driving greater LAL utilization, training, more physicians, some combination of those factors?
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: So we've heard one of your large competitors talk about softness in the premium IOL market. You had a good fourth quarter. So I'm assuming that
doesn't necessarily apply to you. Can you talk through what you're seeing and how you're thinking about the health of the IOL market in 2024?
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: Maybe jumping back to utilization it seems like LDD utilization has continued to move in the right direction. So can you speak to some of the trends
you're seeing there and how utilization and LAL share varies at some of your newer accounts versus the more mature ones?
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: You've done a great job penetrating this market.. So what's your plan to continue to capture share from some of these larger companies. And is
there anything that you're seeing on the product development side from some of the big eye care companies that you think is interesting and
could be competitive with the LALs?
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: Maybe shifting to the international side arm You recently launched in Canada. So how has that launch been progressing? And what sort of time
line should we be keeping in mind and for future international expansion? And are there any regions or markets that look attractive to take that
next?
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: And maybe just one last question in the last few minutes here. I'm shifting to the P&L. Can you talk through how you're thinking about expense
growth and gross margin expansion in 2024 and if there's some timeframe we should be keeping in mind or maybe a revenue level for reaching
profitability? And then just generally how you're thinking about balancing revenue growth and driving leverage?
Question: Lily Lozada - JPMorgan Chase & Co. - Analyst
: And I think we're out of time. So thanks Ron and Shelley, for joining and thanks, everyone, for listening in.
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