Release Date: April 29, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Q: Can you provide more details about the conversation with TRICARE and the evidence presented? Are there concerns about a domino effect with other payers? A: The claims from TRICARE for payment suspensions were vague, so we presented our compliance with their guidelines. There are no current issues with other payers, and this is not a denial of coverage but a temporary payment suspension while they verify our compliance.
Q: What factors contributed to the Q1 revenue miss, and can you provide guidance for the rest of 2025, especially regarding the non-TRICARE portion of the business? A: The Q1 revenue miss was due to various factors, including changes with payers. We haven't provided full-year guidance yet as we're waiting for more clarity on TRICARE. We expect to give guidance when we announce Q2 results.
Q: Does the first quarter revenue and second quarter guidance exclude TRICARE payments? A: Yes, both the first quarter revenue and second quarter guidance exclude TRICARE payments.
Q: If TRICARE resumes payments, will you receive a lump sum for past due payments? A: While we don't know the exact payment method, TRICARE has indicated that we will be reimbursed for claims that haven't been paid. We believe we have demonstrated compliance with their guidelines.
Q: If the outcome with TRICARE is negative, will you stop servicing TRICARE patients, and how will you make up for the lost revenue? A: We plan to refocus our sales force on other areas to generate equivalent or better revenues, depending on the clinics they target.
Q: If NiCO is approved before the end of 2025, do you expect it to generate meaningful sales in 2026 or 2027? A: We plan to launch NiCO immediately upon clearance, with 2026 being the year for revenue generation. We will start with a controlled launch to ensure we can build and service this for our customers.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
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