Patrick Williams

“Allow me to provide some more details on the underlying variables impacting the ranges of our ICL sales outlook in fiscal 2025 shown here. The amount of revenue that we recognize from selling to our China distributors in 2025 will depend on their sell-through as a proxy for procedural volumes.”

“Total net sales for Q2 2024, our seasonally strongest quarter were $99 million as compared to net sales of $92.3 million in the prior year quarter. The $6.7 million increase in Q2 2024 net sales is attributable to a 7% or a $6.3 million increase in ICL sales and a $0.4 million increase in other products.”

“Our Q1 2024 results were slightly better than what we reported in our April preliminary announcement in the key areas of net sales, profitability, and cash. Total net sales for Q1 2024 were $77.4 million as compared to net sales of $73.5 million in the prior year quarter.”

“Total net sales for Q4 2023 were $76.3 million as compared to net sales of $64 million in the prior year quarter. As a reminder, Q1 and Q4 have historically represented our seasonally lowest quarters.”

“As a reminder, all of my references to growth and comparisons will refer to year-over-year growth relative to the prior year period, unless otherwise stated.”