The following is a summary of the Helius Medical Technologies, Inc. (HSDT) Q2 2024 Earnings Call Transcript:
Financial Performance:
Total revenue for Q2 2024 was $182,000, a decrease from $256,000 in Q2 2023.
Operating loss for Q2 2024 remained flat at $3.2 million, the same as the previous year.
Net loss for Q2 2024 was $1.6 million, equivalent to a loss of $0.64 per basic and diluted common share.
Business Progress:
Helius Medical Technologies has expanded the market for PoNS therapy to the VA and DOD through strategic partnerships, setting a path for broader Medicare and third-party insurer reimbursement.
Significant strides in clinical trials for stroke authorization and securing reimbursement codes and preliminary Medicare payment rates for PoNS devices and mouthpieces.
Opportunities:
Expansion of reimbursed sales channels through partnerships with Lovell Government Services and inclusion in federal supply schedules.
Prospective Medicare reimbursement approval expected to substantially boost revenues post-October 1, 2024.
Risks:
Revenue decline due to terminations of temporary programs while transitioning to broader reimbursement pathways might impact short-term financial stability.
More details: Helius Medical Technologies IR
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