- **Revenue Growth**: Q4 2024 revenue up 14% YoY to $5.4 million, with ARR reaching $9.8 million (+11% YoY).
- **AI Innovation**: ProFound 4.0 delivers 22% better cancer detection, 50% higher dense tissue sensitivity, and 60% improvement for invasive lobular cancers.
- **SaaS Momentum**: 19 cloud deals in Q4, driving C-ARR to $0.8 million, despite near-term GAAP revenue flattening.
- **Partnership Expansion**: New alliances with Koios and Olea extend AI into ultrasound and MRI, enhancing end-to-end breast care.
- **Financial Health**: Cash balance of $17.2 million supports SaaS infrastructure, with GAAP net loss narrowing to $0.9 million.
- **2025 Outlook**: Cloud adoption to accelerate ARR growth, offsetting short-term GAAP headwinds from SaaS transition.


**【CEO Summary Section】**
- Q4 2024 revenue reached $5.4 million, up 14% YoY, with full-year revenue of $19.6 million and ARR of $9.8 million.
- ProFound Detection 4.0 achieved 22% improvement in detecting aggressive cancers, 50% higher sensitivity for dense breast tissue, and 60% better at identifying invasive lobular cancers.
- 106 deals closed in Q4, including 19 cloud contracts, driving 11% YoY ARR growth.
- Partnerships with Koios Medical and Olea expand AI solutions across breast screening, ultrasound, and MRI.
- SaaS transition continues, with cloud adoption accelerating despite near-term GAAP revenue headwinds.

**【CFO Financial Commentary】**
- Total ARR grew to $9.8 million (Q4 2023: $8.8 million), driven by S-ARR (+$0.9 million) and C-ARR (+$0.8 million).
- Product revenue rose 24% YoY to $3.7 million, while service revenue remained flat at $1.7 million.
- Gross margin declined to 86% (Q4 2023: 91%) due to cloud product amortization and one-time 2023 benefits.
- Operating expenses increased 10% YoY to $5.5 million, driven by R&D and regulatory investments.
- GAAP net loss narrowed to $0.9 million (Q4 2023: $0.5 million), with Non-GAAP EBITDA loss of $0.5 million.
- Cash balance of $17.2 million supports SaaS infrastructure expansion.

**【Q&A Key Highlights】**
- **Cloud Adoption Momentum**: Q4 cloud deals (+19) outpaced Q3 (+13) and Q2 (+10), with ARR growth lagging 1-2 quarters due to implementation delays.
- **Version 4.0 Performance**: Early field data shows higher accuracy than FDA testing, with reduced false positives and prior exam integration.
- **Budget Environment**: Hospitals prioritize AI solutions for workflow efficiency, offsetting macroeconomic concerns.
- **Expense Outlook**: 2025 OpEx may rise due to R&D and go-to-market investments, though no specific guidance provided.
- **Partnership Impact**: Koios and Olea partnerships expand AI coverage from screening to diagnostic imaging, enhancing clinical workflows.
- **ARR Backlog**: Q4 cloud deals will contribute to 2025 ARR, with potential for recurring high-margin revenue growth.


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