Vicarious Surgical's Q1 2025: Unraveling Contradictions on Supply Chains, Clinical Timelines, and Financial Stability

Supply chain challenges and their impact on manufacturing, timing of first clinical patients, cash burn and financial assurances, and review timeline for technical dossier submission are the key contradictions discussed in Vicarious Surgical's latest 2025Q1 earnings call.



Clinical Progress and Regulatory Approval:
- Vicarious Surgical anticipates 2025 as the year it evolves into a clinical-stage company, with the first clinical patients expected in the upcoming quarters.
- The progress is driven by the successful construction of surgeon consoles and patient cards, completion of essential performance and safety testing, and securing in-country regulatory approvals.

Partnership Expansion:
- Vicarious Surgical announced a strategic partnership with UMass Memorial Medical Center, adding to its existing partnerships with leading healthcare institutions.
- The collaboration enables the company to optimize perioperative practices and enhance surgeon education, furthering its mission to integrate its technology into hospital environments and expand its market reach.

Financial Performance and Cash Position:
- Total operating expenses for the first quarter of 2025 were $15.7 million, a 2% decrease compared to the previous year.
- The company ended the quarter with approximately $37 million in cash, cash equivalents, and short-term investments, with a first quarter cash burn rate of approximately $12 million.
- The financial management and expense control have contributed to maintaining a strong cash position despite ongoing operational and R&D expenses.

Supply Chain Management:
- Vicarious Surgical managed supply chain complexities effectively, with no further changes or adjustments in its schedule despite some challenges noted last quarter.
- The company has a dedicated team managing the supply chain, enabling them to meet production and testing requirements for their V1.0 system.