CLPT - Earnings call 3 2023 | ClearPoint Neuro, Inc.

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Operator

Thanks for standing by, and welcome to the ClearPoint Neuro, Inc. Q3 2023 Earnings Conference Call. Comments made on this call may include statements that are forward-looking within the meaning of the securities laws. These forward-looking statements may include, without limitation, statements related to anticipated industry trends, the company's plans, prospects and strategies, both preliminary and projected. The size of the total addressable market or the market opportunity for the company's products and services and management's expectations, beliefs, estimates or projections regarding future results of operations. could trends or results differ materially. Actual undertakes new information company no obligation for statements forward-looking revise or to The future events.

I Exchange Form For the company XX, to to you. Form quarterly XXXX, on which with November XXXX, the quarterly more turn the company's to XX, June begin to months company's XX-Q Securities been filed website both Form annual Officer, from company's the September refer to and information, would for the over for All or report over XX, call www.clearpointneuro.com. report and XXXX. Commission report the the the on filings Burnett, the now before XX-K intends or year Commission and XXXX, like SEC for December Chief file the ended XX-Q three the obtained Jo, Executive company's be company's the on to with of and months call. ended have Jo may please the Exchange the three XX, on Securities which ended at

Joseph Burnett

of and to to brain. gene, enabling the and uniquely therapy and precise today's call. analysts all delivery ClearPoint premier Neuro device you Thank company, on focused cell, quality on control is navigation the investors the

make here growth highlight improving cash important or some progress X-pillar the I Our expenses of and strategy quarter today momentarily. continued we flattening call stated The most priority point to in with will want third the on its flow. is important operational emphasis discuss updates our that of

partnerships. services, realize $X.X market ClearPoint in team revenue product quarterly year build a cash years, our our could million, the and products, a much a the we to newly total still to is patients so, in one a unserved million third have lowest doing prepare portfolio via burn burn foundation, billion market opportunity That than very last was operational treat In and quarter for to and diagnosed cash a intention more us that vision. can a operational only create addressable few reduced each our that and Our since race XXXX. the $XX

However, going as term, sure in on the that invest make new capabilities we the launches are extracting invested instead we well we have here planned to XXXX and growing existing and portfolio product to near value have focus in and that of continuing in already built XXXX. capabilities already we as in from our

release least room biologics partnerships of the full companies, the and market PRISM ahead, Our line Laser the at in can flattening margins Therapy newly can for growth navigation operational system and facility, grows delivery deepening create of expansion an years the certified faster in our into couple the to of years. revenue than of next drug our top scale expenses improvement our leverage expenses, gross operating with ensure manufacturing platform sustain and Carisbad while

in believe continue to of operational sometime goal XXXX. We flow is second the achievable half breakeven cash of our

operational cash slightly QX $XX-XX XXXX compared expect of meaningfully first tangible second being half to first we forecasted flow of the to the result in reduce example that the range strategy our continue with the of does While commitment. the be million, than half, our less to to revenue XXXX

while us burn. and reduce cash operational time, strategic sheet million to balance execute key to plan, on and launch strong our equivalents, at continue products cash enable same Our the with will over these $XX in new our

the and We prospects are its ever. more excited for company than

additional color will little the which discuss Danilo XXXX the financial new about will strategy. provide introduce in now revenue QX to call. our to on bit more call expect to after turn base, we three that Danilo? on and these our X-pillar I results, streams in additive talk a which our I As launches will I detail growth over will later

Danilo D’Alessandro

Thank you, today. all joining and Jo, thank for us you

months the XXXX, XXXX. third for which quarter growth XX, results. versus $X.X the represents quarter ended XX% was $X.X the XX, the at third revenue million Total XXXX Looking XXXX, September of months September for and three three ended million

in and over and to as we prior $X.X third to the Research million margin X%. an certain of gross three this for medical margin for in development the to as in contributed and development initiatives, the to XX% services, declined XX, cases to additional the have biologics quarter. million new due revenue quarter gross As revenue personnel and for period new September as primarily was increase was related and for offset and a quarter, for were of the the $X.X Sales related or presence XXXX, the which partially costs. decrease to period and to XXXX. biologics to customer-sponsored also by transition preparation of XX% pharmaceutical for services compared same third the and new $X.X space. gross months a a offset XX% XXX% costs, by $X.X share-based neurosurgery due revenue and delivery and third to launched delivery, quarter preclinical revenue in for $X.X trials This XXXX, expand in million biologics Capital to a reminder, and utilizing XXXX, decrease as decrease revenue, our educate The and consisting disposable the train Biologics $X.X including ClearPoint of reach decrease services software increase of nearly $X.X in up $X.X increase or The commercial customers next share-based drug and utilizing quarter XX million were million drug by XX% new quarter $XX.X on in growth and of manufacturing our a navigation an to our a of third compensation equipment costs XXXX, from same revenue three we'll product margin is which $X.X software. cash compared drug products. therapy This customers. multiple components: up million million, Increased sales include launches the sales margin. to within in neurosurgery same service the an $X.X Biologics million costs to of we ClearPoint hiring third the our and to June clinical decrease increase and preclinical research and reusable $XX.X ended related facility marketing higher and million in related $X.X personnel was from expanding $X.X services were $X.X million million increase expenses in system growth million decreased compared surgical respect deliver service $X.X year in was reprioritization the period XXXX increase in partially physician the of XX, functional primarily $X.X therapy This products target. service made accelerated we for XX%. General and expand XXXX, lower due of increase to our product was all of Biologics period the software compared and to compensation for million an quarter million cash to Functional ClearPoint million to of portfolio, and $X.X increase losses million. as product to of be of drug XXXX. to credit for allowance than months. as date This margin and held fees lower navigation revenue. cash drug The This the delivery capital required the new equivalents for segment due consists reflects hardware we million drug of our was Gross With for million disposable administrative million in curve revenue equipment increase fuelled and and professional had expenses desired sales position, products was the XXXX. the to partially delivery same the delivery learning targeting to XX%. in third and services of offset of $X.X XXXX. delivery compared by September offering or hospitals. areas XX, commercial device to the

cash XX% the from prior management third was our committed remain and operational effectively QX We managing on operating down burn quarter. focus our $X.X appropriate to in and carefully cash maintained and million, year Our allocation expenses. resource

prior As meaningfully burn operational quarter anticipated our cash operational of in prior cash quarters. call, burn our third earnings the below the in the was

one, operational chain the fact, and us the versus support business flow half should reduction three, enabled the revenue; was conditions manufacturing quarterly reduce XXXX. levels; due existing of transfer will continue side, expense to two, the headcount of in XX allows operational our lowest the Carlsbad; the gradually XXXX And, our the the of inventory easing cash leverage burn In it higher to on cash first supply company's to that sufficient operations, by: of to XX months. operating completion next the four, for be since

measures to I'd the now cash to forward. contain and to back reduce take like will going continue to that, call We burn turn With Jo.

Joseph Burnett

Thanks, Danilo.

improvement, an acceleration quarter great newest launch drug $X.X while of are overall delivering are product These million represent to double-digit and third delivery. and already cash burn in arguably flow operational results. to preclinical growth results still priority with a services demonstrating Our shift early growth biologics XX% our and

X-pillar our strategy. Let's add detail bit to growth a more

at in sophisticated looking progress biologics additional building and deeper partnerships more with and long-term drug continues agreements First, and the quarter. of strategy to our delivery, make strategic signed

reminder, devices much companies transaction. in pharma a part of selling we ago, company, for clinical a to product-oriented couple length very arm's were an As as biologics trials of simply years a use

be preclinical we the in two it revenue or add tools XX% That regulatory, the this already has our clinical to of Over $X.X results is capability for of to years the two already part To quarter. segment CRO way, new PIVOT business yielding total in development, portfolio. another talent million the and in services years, largest today. grown invested terrific investment, and to last and have with that say other last growth our

building focused and partners, sophisticated rather commercial but strategy is agreements commercial royalties commitments, may These even growth clinical less Our regulatory pricing, direct drug on longer drug on quarterly partnerships. now include accumulating the more strategic sales. itself milestones deeper duration, and on

to that demonstrate agreements to and signed long-term features, a be Newly offer. the commitment are different value which designed combination we all expected these of of are

a We for partners, there extension to them need continue to ourselves is of internally. working with by as replicate something us, pharma our device no view that

companies total often we more continue Our well or of to have biotechs some multiple will, number be markets you and capital as multiple lower-risk XX as shut same biotech served even in if than viewed disease. partners looking partners, corporate the with spread treat are delay for partners as ETF, of diversification to indications, within down a patient across challenging different programs.Our to that indication active remains despite redundancy the same the sort

dramatically While XXXX. this the in remain least segment the and preclinical of certain mix trials, the we for products of change of to do on segment timing this balance quarter-to-quarter based and expect fastest-growing can at clinical our services

to add look XXXX, in we revenue Biologics GLP expect year. our we will to next As we as business new a readiness opportunity achieve

expense already an capacity have built the means additional as This studies additional current to for GLP new that studies increase able will any company expenses. of pharma past, XXXX, This run new XXXX. have rate. capability revenue in also without turn that these for we'll down we've significant in that and added We our source capacity and studies will had to be will to accept capacity into we to the act requests be in our accommodate

decline than significant products Moving room of made our functional financial a From we navigation, segment pillar XX%. process beyond on for and next designed strategic #X, progress more standpoint, the a the to significant showed operating preparing MRI the generation rather for or in use itself. neurosurgery of

capital the XXXX majority the quarter decline had partner interface is However, pause or XXXX funding outright hospital in constraints. of operating project financial development standpoint, almost having a of the programs, was in in lengthy program to from a committee to that and a $XXX,XXX in who result due capital one computer see budget the vast we rental to to brand reviews. capital fit shift which more purchases without can go sometimes through a From away

economics total Now, the similar. sale of the are

recognizing of fee and may entire be upfront. therefore, the receiving monthly also a ClearPoint purchase instead However,

the an strategic not model new submissions the still the the we and starting accelerate to continue, revenue margins timing of this segment is revenue half any The healthy navigation more recognition Smart of product and will products for in integrated the but Ray act will used the in ClearPoint a cash years. be over already room been in believe If the To Now be can of of revenue is our in into longer we streams that operating revenue ClearPoint the XXXX our trend with expect that which two the our our company account. of of will in source the including year and do disposables new for brain via clearance X.X to this the segment, with of clearance. have of flow. frame as limited enables which additional launches, fits multiple revenue with navigation still the market investment all of the period then Maestro Smart to for half full these us making we we a for software room-only operating delay year. submitted also FDA in clearance, releases the submitted and has product past revenue these recognition operating at for install market our been FDA the new set highlight as up second an which products designed and again, the for spreads for in have the currently frame the FDA theme releases systems, traction product first this in to from new time, the providing X.X us XXXX standpoint, a actually strategy gross software, room, installation From model, We sold achieved quarter. the

For pillar access products. therapy and #X,

release We real-world of Therapy and market PRISM materials. continue limited well execute collect the to System experience, as develop as our and Laser product marketing training

months, many nine to clear and more XXXX expect currently multiple is available to as six enable an of release half laser the systems. This therapy product in second-generation market improvements, traction. which advantages new we hardware submit well compared next substantial with the full to as Over exciting revenue second should software system the

early that While limited, experience guidance of been win limited our is for of exclusive very has who to revenue their have year to moving forward. plan XXXX users this market our some built cases is for The from installation release able been we use minimal. Prism all business into

of will So, XXXX. be new for today, progress production regulatory Prism facility source manufacturing all that development, new a as XXXX, quality, as the products will market legal and also enter XXXX, transition of have many to sellable This I'm achieving operations, contributing Therapy full an allow of entire will additional release and to significant tight execution as we Carisbad be as revenue shipped expenses. already having of the our across facility. look of has redundant to third us pillar of from removed and Laser these an have additive new we In in costs pleased made amazing example been our rentals we And global that construction #X to finally, teams. effectively Irvine quarter, site. call, also well. capital, report exited disposables ahead scale of of began which we our fully customers facility product in schedule, And and today's

With the product that can turn XXXX. have we execution exciting transition us, that towards behind planned now we new for the launches

to improve. compared expect new QX. site The continue gross to in to margins QX As from to the margin products and we in revenue XX% our get improved grows, launched gross XX%

we impact. of capital gross margin So, strategy the have play services an the the of improvement quarter-to-quarter least couple But direction. point, always in from further and place portfolio next moving XXXX we and right are this in again once in will Mix expect directionally, for see have believe out the that At at to team, years. XXXX. infrastructure we the we our and products,

room, biologics operating result, that, of like to With intention fill launching customer capacity sites. the to XXXX, products System same As into to our time, our our services, delivery call our as market platform of any drug full would base operating and while global I a it Smart the Laser the our a increased turn relatively revenue through at navigation we keep for the is operator launch and execute headcount our new the to Therapy and release over XXX questions. frame Prism flat and expenses streams

Operator

Stifel. Matthew comes first Our Instruction] Please with go the question [Operator from line Blackman ahead. of

Mathew Blackman

this and perhaps of Good tease for afternoon, by If the toggled more everyone. how is got and in being lower quarter Jo softer of Or and Thank it, bigger for the you is I'm of growth you, to much profitable so question. three XXXX. the out the just shift leases? taking a then could I've questions questions versus couple now demand neuro strategy? on revenues start on my and and I outlook Dan. if much quarter much to picture functional how related a any, your trying the

Danilo D’Alessandro

ahead question, that down go can ahead thanks to guidance go for I combination things and have Yes, us few slightly. Matt. really bring it's led a start, a of Yes, and the and the

As quarter. you of where, rental these that remarks, a been the capital mentioned, earlier actually to the $XXX,XXX and as it in I that side would in would from said, like say I of installed, And sold for in system the things, I all capital there would was programs recognized a example. mentioned get once sale, that more transition we particular past, has have

spread Now same or in of years. about we're X sorts those over but economics, cases, it's talking some X

year recognized in to that $XX,XXX this $XXX,XXX maybe sales. would X X for example, were only $XX,XXX, compared year, the entire for So, the we months of of

of years but would tough side therapy I of not it's an on where navigation say a deals we to sites maybe there's to system not of dollars. for that that XX% the say but find purchase, launch system, capital things allocation therapy else historically, it's purchased our a as from going already continue been capital to launch only our XX% outright to had also So be our few mix, system that to someone laser laser a into capital those ago. not

a that's rental that of operating more something that place. So, something into fit can certainly takes an budget is

point say element I'd I'd one that's So, to.

a had tied side project. last functional had particular on been we this one to computer interface brain is, significant of project earlier That again, actually element our neurosurgery sort Another year. year, paused service

QX our original something that revenue. that's would kind I that which is beyond, that, what was, see I in say, was September communication, resume going in last We QX. think, the now it of impacted So to to pause or

So that really resume expecting not we're number taken well. of to this particular out that now that we've year, kind as

kind the has really the timing. delivery So impact. that and been side And more then that on biologics second impact drug of And things. happens is third of just the

or As into more we single kind a we proportion dollar add explodes just a deal sheer single of our revenue. and get amount capabilities, study and services more the as a of of these

quite going happens, So, happen one happen tangible a to our standpoint, those from for And a to that's particular takes particular you XX PO to the and not going million if sure of types signed. deliverable value in XX. when actually Part on the that one all been sometimes that give work January things place the have is million has is December in study. upfront or of we're and deal, $X.X a our based way, the on committed example, payment hands we for between $X.X

be the in trying move based movement can bit things those that that these conservative because been scale we're way And it on capabilities. is more has the past of to than little is the end What of recognize a of just bigger that in the the sort used around in you product, opposite. sell and it's cases, you it device as it we're getting many because later, ship upfront. you up world cash well a you but to the of kind So

might Some be down services of advance, servicing the of recognize not same is the almost these revenue to getting but actually some able opposite. the time. in of the at we We're payments

bit a of different which the little today. So, than world, seeing it's we're device kind

important an of The I on the other side to is demand question, which of things. think one part your

huge change relatively that a demand, this the seen would at I from core say, our seen volume haven't flat The in case point. We has been we've same, business. relatively

things to doing to the of we're be lot a going that that. are think I adding

obviously though, as three far in XXXX. are have on that when also queue enables points opening that well. to And On significant system, to day volume of do that as launches mentioned we as you're horizon. I system that get the systems store a a new the product those it you I new the new and new each would point, increase that shipped,

deployment we've this so individual of little a been bit say would been new accounts demand side more slower triggered or usage or demand behind down the by I year, installations, on So process this but capital more product. slowing the it's their than

sense So there's lot questions. hopefully, to but there, that answer any happy makes follow-up to a

Mathew Blackman

I was growth these forward? of good then How just And use I refined the curious appreciate are more That helpful. using? an product have ask on sort going to you're a specific system, now do on the more you making follow-up decisions launch profitability, become? of navigate ROI one these reasonably is still strategy, there question that and is the between if you're next example. how Just laser the as let's segue It growth costs much some do I an rollouts, threshold balance question. that. could a profitable new And of how question, which

Joseph Burnett

Yes.

two significant the in the in to dipped of was I one overall deals, XX%, what So profitable when growth margin does threshold down biologics I was QX. we which the think our the for about one responded that some had mentioned extent. mean we think, And had past certainly questions And think think reasons first we that we question some I or to capital to of where entry around at time margin. of I established foot fees and very, thing bit the and we're the our right with or very to entry flow. things a door of large a do today's kind in Those differently think little get the were example, those companies, we're markets on if at gross particular cash to a evaluating pharmaceutical for the with are types prioritization deals, lower gross even

to deal So have actually that's the going, new team to and hire members deal do XX% to get where be That margin, it. of would of a especially to gross something environment, where new would we'd we in be people in would add not-for-deal. an one we that XX% it. light accomplish hey, would to that year, example capability might say, a new today's do last a we But

I focus deals side opposed capabilities that Let's XX%, in that something we fee. of maybe the entry we we on things percent got biologics very Similarly, a margin the that that that an on already to have, to a are XX-plus laser things. There more side would new a very lower gross signed need say, example. products, few that's I'd market. of to we've so that do these competitive are the as the be on access say would

which the scanner and I it, we now, was to have scanners, for the it work example your second cash additional bit work done little how I other we we're have around to rather yet we to the not to regulatory would longer, right think that well, that that execute X.X expenses costs Tesla approval X product in on launch test have expect -- about is sliding leads them change done laser the the but think question approval. quickly much is, be on an these development now is approval we're launches, not instead way for right say, doing there after but we of So, other you get -- do something -- into to that to anything, for additional we has That's adding get okay, example.So what well, compared a would the need where there's a to that together. to pretty securing X.X

series we're it's studies. we say to that things to project, difference of of it going those than We're bunch to done another we're to going in one parallel. until in and before right this The one a second not X.X doing that rather finished is do example, actually to as for So, wait then planning Tesla is different not the now. doing process same project in opposed the resources deploy the

to expenses, of from and would new and us on engineers I you current there people hiring those additional off like instead rolling product, required of are things are but So, say development to launch the that. if the expenses really additional project will, coming projects

products, So, new why hopefully, we're is saying, some the provider the of a as line that's think that can kind There happening likely designed come margin That's the we inside be that expenses flat. gross hey, fulfilling hires an headcount make we those either more but would service helps. would keep they're products. additional and just on or to operator the line hiring

for those costs So are accounted elsewhere.

Mathew Blackman

in Thank you. All right. the not Really appreciate back get that. I'm going to try to be I'll greedy. queue.

Operator

Please William Wood Securities. ahead. comes line with question B. next of go Riley from Our the

William Wood

if Just my from sort couple another on were maybe one, about Thank for to taking discussing - on on be of this you but quarters? we and you trick of expecting is increase like for two in parallel, sort when up, then multiple quarters, little sort bit this multiple, I that. will out just with to the just one burn of other to next. of and to modifications of project trying about limited sort you of I'm forward? more guess, do the a that and going or Congratulations A balance Or cuts just revenue as bad should you know, once do expenses for or overall the because, you expenses, have alone of which you the on just questions next quarter-over-quarter sort you think thing growth color quarter. follow-up a questions. rolling them

Joseph Burnett

directionally think or just I tick of years to it's QX that, think XXXX, expect growth. tough Yes. annually where a bit are but the little of way more or to revenue QX, here. mean these you do expense we XXXX, I the about outpace sort significantly

So that's where we've that these scale investments made. really get already from we

second cost the the little And yes, the side little out top-line two is, it of does one bit further years? really of answer down But we that a does. think is, side the is as slow development. is, part maybe on anything So, I next we'll a revenue bit in look us equation that question of the don't

we competitiveness efforts room. think into we operating the heard from early have development I the that roll as our

products we've continue early at of gone I look simple that and market some think laser to other on feedback competitiveness we we've therapy seen are of and make. we some the improvements our as system the the that

addition, do significantly on as studies I GLP the increases the it's revenue to project, GLP I even the think the able biologics of for mentioned, to if a be side, the one. capability same which

are product think, all three the if to our but our position avenues new on for revenue think then where improvements in things of additive standpoint, operating And things through the to I system just relatively So reaccelerating keep flat year and navigation are hospitals we're going in are four impact. that expenses even traditional MRI. I where growth from coming and XXXX software business line. hasn't base our product a that through grown reintroducing from the really that that four see this put get have to our really in these where a new additive Those going I top, to can that's, think, these a we us together, of queue

just have ago fast products. very we're way we competitive that would the insight go with two now, of as long with couple or are maybe years we've are modest but have to of because as think don't three new pleased we our making we products a sacrifices that a we're the with right we So, successful. and these know made doing And development additional saying, I

William Wood

helpful. definitely Right. That's

customers rather sort partnership, your down I better towards going of better we include partnerships, going do how deals the you'll should there's you And you for? let's shifting But partnerships will value think when be Clearly, the you you're deal, terms for of this of and expand in when I sort to about your to new the you're be than then mentioned sorry, do looking much of more what towards, some be about guess you I that new new you partnerships? structuring really partnerships. decrease forward, lose to your your for going So, of parts: Thinking of sort think looking slow yourself? the reassess that guess, sort about guess, the of also two number in think because had say, you'll to it's of old partnerships. looking of, thinking those

Joseph Burnett

customer I a whatever Yes. happy. it on of in, that's keeping you're percentage way understand is a And to less business question. The an always think new that's Yes. a I price acquire customer. basis existing than generally there's the

even make get trials when the that prove into to working to preclinical our been value, way prove companies team services been therapy. about relationship, treating our has strategy get with So, human part there these before and and that they that into think gene start That ourselves regulatory so strategy entire always eventually ever drugs essential their approval, an patient process seller and way. clinical of the with we've the a commercial

natural place, these we to to of in one those. want each partnerships develop that have continue we So, already

on to and wouldn't a that's furthering If an going focus small are a signing quite for into and sure So operating that own company we're as for going not what that to more to I time a the one lot how quarter? yet, it's our to energy launch doing term say I'd how have children's say well. we is the we is three just room, preclinically, to long-term should to hospital the progress their bench hospital commonly. with effort spending of of example. term successful how And going much is and right? been system a going us navigation volume going go than I spend we're and able on is or only we if return as lucrative our area we're after relationship think that as The beneficial go to near firing a a a of that making be deliver on surgeries XXX would that company XXx similar be current our site we a But see one. day, much the do doing are about device go consultative other better could ready to Or in that's you much see talk rural two agreement we customers in in surgeries is if XX is the very we're capability choice and we going maybe that's used quarter. our can, energy know to team's side early we that as on that kind just will, which to much we a we've So, a made energy productive partnership -- of into we an how of time have more the a to that

go to this ones period time. during after we the So want targeted of

going that business. both we're say sides the on I'd of doing be to So,

William Wood

Right. going And I any I shift whether if also Makes guess, of any regulatory and there then will feedback guess, on do this, international, that fit that or think U.S. any there's if know just ex-U.S., of think you will these rental if how -- partnerships I there? some be thinking some or in there's little partnership then or have sense. how bit, approval? -- curious been a you ex towards Brazil? mean, progress updates And just been received sort changes, if in better I

Joseph Burnett

question, required say I'd great That's is The partners what's a OUS where our doing only support pharma something we're presently. William. to

our current more we priority and that. needs their able we alongside pharma bit to we're saying use where strategy in could and what come that In what a dollars, is to looks for that in maybe the to is on to for Europe or you pull the and if That's authorities have trials clinical That and in companies, like sort a and and that trial yes, by support are thoughtful, team selling as use interested team clinical regulatory and our strategy of and I little XX of if hey, to now to pharma starting pull fashion. a will hiring pharma respond unlimited abroad. of across it be companies with of they're knocking DBS into demand. we're pharma navigation five centers very they much is, of this site our or allows go different some a partner pretty environment, had mean going we're work something what the doors build that right a commercial the start knowing path cannulas find have or partners. And just being folks than So, really two to full going hire it, like therapy trying one laser that us or is, that that where navigation to

So, and that and making slow some example an those probably think of I to decisions commercial have where we we're our of -- and more some say probably I'd focus made efforts traditional -- the abroad more that's have States, FDA. efforts these here portfolio to into are complete, resources in is FDA shared United I a where line already the sight the bit submissions, and of we product new which

Operator

Markets. with from the Frank Capital Takkinen comes Our of Lake line Street question next

Frank Takkinen

you more was up have that the for well apologize could been bit do prudently But areas. laser business. thinking happy as some about end I just pressures little a talk in competitive and when I about about if OR I as repetitive. you business in know am moving I hoping calls. those spoke a I the between little you investing

initial that's commercial given to? launch what you're some some speaking to a you're your your laser launch in market, of for competitive strategy offset factors learning that just So of more talk pilot changed the you about that that full maybe when and if look in controls cost by

Joseph Burnett

Sure.

in Let me answer a different question parts here. few the

market. tumor of itself. still of years of the market But And the market I by interesting growth over starting still can places think taken, and it's investment. actual certainly results the side than more you've the be a the bit on alone a very first epilepsy expansion few and growth a So, got the if share gated ablations. the zero, the let certainly that from actually existing has you're the on side and nonetheless, market I think know lot been is worthy past is, little I market potentially COVID exciting

in that I device So from From design certain standpoint, very provide certain been past. we've in patient parts things spoken types, term. meaningful laser there's wouldn't to of that software in early system, us document and results collect be that how hardware or highlight a and big performs that of about or advantage of how capital the the our we've I think in and say good certain competitiveness able able the to some particular gotten those of and the itself, very, the flexibility change performance why on near parts a for a way the our feedback

I So, well. good feel very as about that

X that where bigger Tesla cash for to I one scanner do there's that access and system. complicated out access little types flow consider. nonetheless, is there's I powers As start. and only three is the the are a decided which far more of that X.X There's speed as is tesla. of standpoint, that But to approval we can is the two have different scanners One an a two currently there. power, We the axes which argue would bit mention ago, you did

in it's say, available interested of Tesla date in something that's we X been our customer but on using horizon, all for us in have hey, our have So, you. it's we And to X.X, but have that simply a installs scanners. to to not

axis part market that's So kind to one the part access of we of of or only have where the market.

is place. take The does entire other laser the access where procedure

the room, So, still inherent market ClearPoint an in Navigation even the laser the having if placed patient because the has advantage laser in as the past, operating about information the we've is MRI is the laser on to information. catheter MRI to because heat or inside turned the thermometry that's be of to all where crucial suite the give the talked transported of you

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the access. that's other So

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Frank Takkinen

Got it.

to Okay. maybe the OR shift opportunity. And the on then That's helpful.

how is talk in about point I operating commercializing. and think room. Can of talk that that think changes the that around placements selling excitement entire once but to products about your just the talking about it's again, those I worth past, at in have the place just do about we when you in this spoke you process portfolio

Joseph Burnett

help Yes, will bit. I quite us a think that

standpoint, dynamic from market just percent. XX-plus a First,

stimulation, today. deep If used you brain the navigation procedures is the primary XX% three is stereotactic biopsy than look operating at more room and that laser and for, in

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procedures So to taking the first an part. actually obviously is off, where it us which go allows are important place,

is where patient will tell in certain I you, are therapy, when that's think will that when of case going but doing procedures will particular this new I of to are grow. this as guidance room. and MRI after the et the the as continue in the And today, doctors tools far to this are the There my the I operating cetera. continue But in that. series I'm some one growing, because think be to is do And stakes tool, us yes, highest. comes those volume a this allow to stuff go procedures, MRI OR, in needs where directly

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clinical supply which what we down. specialist brings cost would that overall So that not is our to procedure, single for every a have means

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about everything budgets want of delaying I do and do So, to we recognition talking was before revenue because capital maybe rentals.

existing just disposable here's can work we some walk can a it If and lab. and in away. the say, mousetrap goes on that software new with your the hardware that's in of and already better of All side hey,

to So, the in capital with that even we need endpoint. don't process deal

would the side things. So operating those on of room to are kind of elements I three the point

Frank Takkinen

it. Got there. That's color. good stop I'll

Operator

time. I There to call like Thanks. Jo would turn no at now for the Burnett to remarks. closing this are further questions over

Joseph Burnett

Once being are the to and their excited that This for. interested the a near hard to treat service family working and get the launches to again, ClearPoint. who patients in therapies this devices future. for the are team's our of thank incredibly all four very but in to plan and part end of And patient why exciting the day, new here team, we for at we across spot with we new the are pillars. is everyone of you also time ultimately, at here hope this and worked an journey and growth as we for We've product are

thank a good have evening. that, you, So with and

Operator

all for I disconnect. and joining This today's would now us. our presentation, concludes thank may thank and you like call, to now for today's speakers you

ClearPoint Neuro (CLPT) 9 Nov 232023 Q3 Earnings call transcript