Release Date: October 28, 2024
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Of the 33 placements during the quarter, how many were outside the US, given the strong performance in ex-US geographies? A: Scott Davis, CEO: Approximately half of the placements were in Europe, with several in the APAC region. The majority of these placements were outside the US, and about 20% of the revenue was from the personal product.
Q: Can you provide details on the CMS claims filed and the reimbursement status? A: Scott Davis, CEO: Multiple claims have been submitted year-to-date, mostly in Q3. Our DME partner has received reimbursement on one claim, with two requiring additional information for resubmittal. Sales of personal health products nearly doubled from Q2 to Q3, representing about 20% of our sales for the quarter.
Q: Regarding customer buying cycles, what is the current backlog, and how is it being managed? A: Scott Davis, CEO: We have a backlog for Q4, with strong demand in Europe. In North America, 2024 has been an off-cycle year with IDNs, but we anticipate renewal cycles positively impacting us in Q4 and 2025. We have a strong pipeline supporting future growth in both enterprise and personal segments.
Q: Has the CMS reimbursement for personal units affected IDN procurement cycles? A: Scott Davis, CEO: The issue is more about procurement cycles being lumpy. We had record sales in North America in 2023 and in Europe this year. Some North American customers delayed purchases to Q4 or 2025 due to macroeconomic uncertainties.
Q: What is the outlook for international sales, particularly in Europe, for the remainder of the year? A: Scott Davis, CEO: Demand in Europe remains strong, and we have a solid backlog entering Q4. We expect another strong quarter in Europe, with more than a dozen devices in backlog at the end of Q3.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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