Vicarious Surgical Q1 net loss $26.9M; cash burn guidance $55-65M for FY 2023

Vicarious Surgical Inc.

2023-Q1 EPS reported -$0.21

GAAP net loss of $26.9M ($0.21/share) vs prior-year net income of $42.5M ($0.35 basic EPS).
Adjusted net loss $20.8M ($0.17/share), widened from $18.2M ($0.15) in Q1 2022.
Operating expenses rose 23% to $22.3M; R&D spending increased to $13.4M.
Cash and equivalents at $97.6M; expects FY 2023 cash burn of $55-65M.
Achieved design lock of V1.0 surgical robot system; no revenue reported.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

Vicarious Surgical Inc. reported first quarter ended March 31, 2023 results: net income $26.9 million, EPS $0.21. Guidance reaffirmed.

Period: first quarter ended March 31, 2023
Net income: $26.9 million
EPS: $0.21
Guidance: reaffirmed
Result: reported results

Exact text from the filing

GAAP net loss for the first quarter was $26.9 million, equating to a net loss per share of $0.21, as compared to a GAAP net income of $42.5 million, equating to a basic and diluted net income per share of $0.35 and $0.33 respectively for the same period of the prior year.

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Source: SEC EDGAR

accession 0001213900-23-037364

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