Good day, and welcome to the Census Health Care Second Quarter 2025 Financial Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key, followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star, then one on a touchstone phone. To withdraw your question, please press star, then two. Please note this event is being recorded. I would now like to turn the conference over to Turf Patel with Alliance Advisors, IR. Please go ahead.

Good afternoon. This is Turf Patel with Alliance Advisors, IR. I'd like to start by apologizing for the press release being issued later than usual as there was a system-wide glitch with our wire service. But thank you all for joining today's call to discuss Census Healthcare's second quarter 2025 financial results. Joining me from census are Joe Sardano, Chairman and Chief Executive Officer, Michael Sardano, President and General Counsel, and Javier Rampolla, Chief Financial Officer. As a reminder, some of the matters that will be discussed during today's call contain forward-looking statements within the meaning of federal securities laws. All statements other than historical facts that address activities Census Health Care assumes, plans, expects, believes, intends, or anticipates, and other similar expressions that will, should, or may occur in the future are forward-looking statements. The forward-looking statements are management's beliefs based upon currently available information as of the date of this conference call, August 7, 2025. Census Health Care undertakes no obligation to revise or update any forward-looking statements except as required by law. All forward-looking statements are subject to risks and uncertainties as described in the company's Forms 10-K, 10-Q, and other SEC filings. During today's call, references will be made to certain non-GAAP financial measures. Census believes these measures provide useful information for investors, yet they should not be considered as a substitute for GAAP, nor should they be viewed as a substitute for operating results determined in accordance with GAAP. A reconciliation of non-GAAP-to-GAAP results is included in today's financial results news release. With that, I'd like to turn the call over to Joe Cerdano.

Joe? Thank you, Terrence. Good afternoon, everyone, and thank you for joining us. As you can see from the financial results we're reporting today, after a very dynamic start to Q2, our second quarter domestic sales momentum was temporarily stalled by proposed local coverage determination, or LCD, that would limit the reimbursement of ultrasound when used with our SRT100 vision systems. Also, just a few weeks ago, Medicare stepped in with a proposed physician fee schedule that we believe may fundamentally alter demand for our products. Let me explain starting with the LCD. Our SRT100 vision combines the treatment power of superficial radiotherapy with image-guided ultrasound to ensure the best possible clinical outcome for patients. When treating non-melanoma skin cancer, it's the only way for a physician and patient to establish a treatment plan to visualize the eradication of the lesion from beginning to end. LCDs are reimbursement decisions made by a Medicare Administrative Contractor, or MAC, regarding whether a particular medical service is considered reasonable and necessary, as such, whether it's covered under Medicare within the contractor's geographic jurisdiction. The question arose as to the frequency for which the ultrasound feature should be used. In mid-May, a proposed LCD to limit reimbursement for the use of ultrasound imaging prior to treating skin cancer was made public. It's important to note that in treating other forms of cancer, imaging modalities such as MRI, CT, PET, mass spectrometry, or nuclear, they used ultrasound or other imaging devices for every fraction of treatment. With the SRT100 vision, Census innovated and introduced the same approach for treating non-melanoma skin cancer. This proposed LCD came out of nowhere. Up to that point in Q2, we were on track to surpass expectations, yet we found our market at a pause until there's clarification, which we expect soon. We are making considerable investments of time and money to lobby CMS with information and facts supporting the value of ultrasound. With this initiative, we are in lockstep with our major customer as we work together to help the powers that be understand the importance of high-frequency ultrasound in treating non-melanoma skin cancer. To date, we believe that our actions are gaining traction and understanding among those in authority and their influencers. I want to be crystal clear that our technology in treating skin cancer with SRT is not in question, but rather the frequency for which ultrasound is being used during the treatment protocols is the subject of the LCD. On the other hand, just a few weeks ago, Medicare proposed a physician fee schedule that would significantly increase reimbursement for the delivery of a code of SRT. Pivoting now to a review of operations, the census team made meaningful progress during the second quarter. We delivered 19 SRT systems, four of which were sold to China. These placements speak to growing international demand for noninvasive therapeutic solutions and set the stage for future expansion, which Michael will explain momentarily. During Q2, we signed five new FDA contracts and activated four sites. mostly all in the first half of the quarter. Importantly, FDA treatment volume increased by 27% over Q1. That tells us practices are getting more efficient and patients are becoming more aware of SRT as a preferred treatment option. We also broadened our U.S. commercial footprint with the appointment of radiation oncology systems as our primary distribution partner for the hospital-based oncology segment. This new relationship with ROS gives us specialized coverage in radiation oncology departments and freestanding cancer treatment centers, markets that traditionally require a different approach and level of engagement. ROS brings deep expertise and longstanding customer relationships, and we believe they'll help accelerate our growth and increase awareness of the clinical advantages of SRT beyond dermatology. We expect to see results this year. On the R&D front, our 510K resubmission for the next-generation TDI platform remains under FDA review. We anticipate receiving feedback later this year, and in the meantime, we continue preparing for commercial deployment. We're also refining training protocols and exploring flexible implementation models to broaden appeal across clinical settings for multiple potential applications. We also took time to elevate awareness of skin cancer and the importance of early detection. May was Skin Cancer Awareness Month, and we collaborated with advocacy organizations and providers nationwide to promote the importance of screening and noninvasive treatment options. It's part of our broader effort to position senses, not just as a technology leader, but as a patient-centric solution provider in the fight against skin cancer. With our domestic execution, international progress, exciting reimbursement progress, new partnerships, and a regulatory win, Q2 was a productive quarter that we believe further positioned Census for success. With that, I'll turn the call over to Michael for additional commentary.

Thanks, Joe. During the second quarter, we continued to execute well on our three-pronged strategy. increase patient awareness for SRT, grow internationally, and advance our pipeline. The FDA program has proven to be a key strategic asset, aligning our growth, analytics, and customer marketing support. We are working with practices to help them increase awareness in their local markets, streamline patient pathways, and maximize throughput. On that note, I want to point out that the reason we are able to offer this program is because of our internally developed HIPAA-compliant software platform that we call Sentinel. Sentinel enables our physician customers to store data via the cloud and also allows census engineers to remotely diagnose and fix almost any problem that happens with the device. On the international front, momentum is building and our future is now greatly supported thanks to the recent MD-SAP certification. MDSAP stands for Medical Device Sable Audit Program, and this regulatory certification marks a key milestone for census. MDSAP validates the strength of our quality systems and provides us with immediate access to the markets of Brazil, Canada, Japan, and Australia. It also enhances our credibility with partners in regions where regulatory rigor is a prerequisite. We are actively working with potential commercial partners that serve those countries and laying the foundation for additional revenue contributions potentially as early as later this year. The four systems shift to China in Q2 represent significant sales growth and is a potential sign of economic strengthening in the territory. Shifting to the domestic market, the proposed Medicare physician fee schedule and the new potential delivery code that Joe mentioned could have a transformative effect on our U.S. commercial strategy. Historically, dermatologists billing for superficial radiotherapy have operated under a separate and lower reimbursement structure compared with a hospital, even when delivering superior therapeutic outcomes. We believe the new outpatient CPT delivery code, if issued, will improve SRT's positioning and allow physicians who have been on the fence to finally commit to offering their patients the non-surgical choice. With that, I'll turn the call over to Javier for a review of our financial performance. Javier?

Thanks, Michael. Good afternoon, everyone. I will first review our recent financial results, and then I will turn to year-to-date results. Revenues for the second quarter of 2025 were $7.3 million, compared with $9.2 million for the second quarter of 2024. The year-by-year decline was primarily due to fewer capital system sales to a large customer, partially upset by growth in the recurring revenue from fair deal agreements. Gross profit was $2.9 million for the second quarter of 2025, compared with $5.4 million for the pro-year quarter. Gross margin was 39.7% versus 58.7% a year ago, primarily driven by lower sales and higher cost of service. General and administrative expense was $2 million for the second quarter of 2025, compared with $1.6 million the second quarter of 2024, reflecting higher professional fees and compensation. Selling and marketing expense was $1.4 million for the second quarter of 2025, compared with $1 million the second quarter of 2024. The increase was due to higher trade show expenses, higher costs related to clinical studies, and higher payroll costs due to an increase in headcount. Research and development expense was $1.5 million for the second quarter of 2025, compared with $0.9 million for the year per year quarter, primarily due to costs associated with ongoing product development and readiness for the anticipated TDI commercialization. Net loss for the second quarter of 2025 was $1 million, or $0.06 per share, compared with net income of $1.6 million, or $0.10 per delivered share for the second quarter of 2024. Adjusted EBITDA for the second quarter of 2025 was negative $1.8 million versus a positive $2.1 million in the year-ago quarter, reflecting higher operating expenses and lower revenue. Let's see the table in the news release we issued earlier today for our reconciliation between GAAP to this non-GAAP financial measure. Turning now to our year-to-date financial results. Revenues for the first half of 2025 were $15.7 million compared with $19.9 million for the first half of 2024. The decrease was primarily driven by a lower number of units sold to a large customer in the 2025 period. Cost of sale was $8.4 million in the first half of 2025, compared with $7.8 million for the first half of 2024. The increase was primarily related to higher cost of service in the 2025 period. Gross profit was $7.3 million for the first half of 2025 or 46.5% of revenue, compared with $12.1 million or 16.8% of revenue for the first half of 2024. The decrease was primarily driven by sales and higher cost of service in the 2025 period. General and administrative expense was $4.2 million for the first half of 2025, compared with $3.2 million for the first half of 2024. The increase was primarily due to higher professional fees and compensation. Selling and marketing expense was $3.6 million for the first half of 2025 compared with $2.3 million for the first half of 2024. The increase was primarily due to higher treasury expenses, costs related to clinical studies and payroll costs due to an increase in headcount. Riches on development expense was $4.1 million for the first half of 2025 compared with $1.8 million for the first half of 2024. The increase was permanently due to significant lobbying costs related to the billing code reimbursement, increased headcount, and existing product development costs. Other income of $0.4 million for the first half of 2025 and 2024 relates permanently to interest income. Regarding our cap acquisition, our balance sheet remains strong as we ended the quarter with $22.2 million in cash and no debt. As a final topic, with a potential increase in reimbursement through the issuing of a new SRC delivery code, we remain very excited about our long-term revenue trajectory and the new market opportunities we face, as both Joe and Michael described. I will now turn the call back to Joe for closing remarks.

Thank you, Javier. Thank you, Michael.

Census is well positioned, and we have a capable staff ready to capitalize on these opportunities i extend thanks to our team for their continued dedication to our customers for their partnership operator we're now ready to open the line for questions we will now begin the question and answer session to ask a question you may press star then one on your touchstone phone if you're using a speaker phone please pick up your handset before pressing the keys if at any time your question has been addressed and you'd like to withdraw your question Please press star, then two. Our first question will come from Benjamin Hainer with Lake Street Capital. Please go ahead.

Good afternoon, gentlemen. Thanks for taking my questions. Yes, sir. Ben, how are you? You know, not too bad. On the proposed CMS reimbursement under the physician fee schedule for next year, It does look like the radiation delivery code tripled and the imaging code associated with the image guidance for SRTD came down a bit. Is there any kind of connection there with the LCD and, you know, how CMS sees the utilization under the new codes versus how they're currently billed with the G code for the image guidance?

Yeah, let me let Michael answer that. since we're heavily involved with a lot of the lobbying at CMS and so on. So keep in mind that their original letter that came out under the LCD was strictly for the utilization of ultrasound or limiting the utilization of ultrasound because they felt utilizing it for every fraction was too much. They felt that it needed to be used more sparingly. Quite frankly, in the protocols that we use, they are used more sparingly. So, Michael, if you want to take that one.

Yeah, sure. Hey, Ben, how are you? Great. So the LCD and the proposed physician fee schedule are actually two separate items. So the LCD came out first and was a little more bleak than the proposed physician fee schedule. So the LCD, we don't believe, will actually take place. We don't believe that it's going to come through due to our lobbying efforts and a few other entities out there lobbying. and it was going after only the ultrasound portion, like Joe just said. It was flagged for overutilization. On the proposed physician fee schedule, however, the proposal is actually, and I've been with Census for close to 15 years since the beginning, and we've been lobbying in general for SRT because we're the company that brought SRT back. And so this is something that on the delivery code side of things that we've been asking for for literally the entire time, which is when we started the company, it was about five times more to have a hospital bill, SRT, than it was an outpatient facility, whether that's DERM or radiation oncologist. Any outpatient facility got a fifth of what a hospital got based on just built-in fixed costs, essentially. Technical components is what they call it in CMS. So what they're doing now is they're actually evening it out. They're bundling a lot of different technical components into SRT in general, and they're going to, no matter what, if you're in a hospital or in an outpatient facility, because they realize now that the vast majority of the close to 1,000 units that we've sold now for the last 15 years are in outpatient facilities, not in hospitals. So with that being said, they realized that they needed to even it out. So we're very, very thrilled to see that the proposal would actually make it, like you just said, about a 300-plus percent increase in the delivery code for SRT, which would be pretty amazing.

Okay. So you guys are pleased with the proposed rates. I mean, obviously, you'd be more pleased if they're higher, as would anyone. And then just on the LCD, you know, kind of the – I know you think it probably doesn't end up going through, but did that impact, you know, kind of interest on the FDA side? Did it impact treatment volumes, anything of that nature when that did come out? You know, everyone kind of puckers, I imagine.

Yeah, everyone kind of just, what happened is it's just a pause because there was no clear path right there as far as whether it was going to happen or not. And the thing is, what we've learned over the last two, three months since it's come out because of our lobbying and efforts there, is that the ultrasound, you know, the people that were attacking the ultrasound are not people that actually use SRT, correct? It's just a turf war. And what's happening is we have studies out there that show that ultrasound, IGSRT, does improve, right, statistically, the cure rate for non-melanomous skin cancer. And so we fully believe that IGSRT and SRT are here to stay, and ultrasound will continue to be part of the SRT portfolio of products.

Okay, got it. And then just looking for an update, I think you're getting close to 1,000 capital sales out there. Is that still kind of on track for, you know, about a year from now, up from the 900-ish that you're at now?

I think the way we're going right now and the way Michael described what possibly could happen, which is one of two things, I think it will accelerate the installation of our units over the next several months once everything is cleared. It's very, very clear that there's one of two things that will happen. One is that everything will remain the same or status quo, which is what we would like to see. It is what our biggest partner would like to see. But if the second thing happens based on the recommendations of CMS and the reimbursement schedule, which you've adequately described at a 300% increase, it also bodes well for the technology moving ahead as well and for the doctors that are going to get the reimbursement. So we don't see any downside, but we would prefer that we move along the same lines with the status quo, which we think, based on our lobbying efforts and the information that we've had over the last two to three weeks, that we're getting closer to that kind of a decision, although it might be another, you know, sometime in the fourth quarter before we understand what that decision is. CMS will take their time on this.

Okay. Sure enough. That's all I have. Thank you very much, gentlemen.

Thank you. take care our next question will come from anthony vendetti with maxim group please go ahead thanks good afternoon everyone um anthony hey mike okay joe um so so i i think the you know obviously hopefully the like you said the local coverage determination um won't going to effect. But in the meantime, I think you mentioned that a large customer has paused purchases. Is that your largest customer? And once this reimbursement issue is clarified, have they indicated, hey, we just need clarification and we're going to move forward? Where does that stand as we speak right now?

Yeah, the answer to that, Anthony, is absolutely yes. You know, customers, anytime something goes up in the air that causes a question mark, there's always a pause. Okay, we've had pause through COVID. We've had pause through other reimbursement issues. We've had pauses through a bunch of other things. And anytime anything in healthcare is unclear, everybody waits until they have the final verdict as to what's going on. Our customer is committed to IGSRT from Census Healthcare. I don't think that there's any other way about it, and I think that if and when this becomes clear that the status quo remains, I think our customers, their customers, are going to rapidly want to revamp everything. I don't think anybody's losing interest in IGSRT. I think it continues to remain a hot priority for all of these customers, all the doctors that want to put it in their practice and I think that we're not going to be losing any customers but we're going to be scrambling like hell to get deliveries out before the end of the year and this is all going to be resolved before the end of the year.

Okay, but yeah obviously we all know the fourth quarter is always a large quarter in the aesthetic industry and December particularly try to get, like you said, try to get those purchases in before the year end for tax reasons and everything else. But, you know, we're in, you know, almost the middle of the third quarter. So, it seems like, you know, this could have a, you know, pretty outsized or significant impact in sales for the quarter ending September 30th, correct?

It could happen. Yes, it could happen. Unless, of course, you know, the CMS lets us know early. I mean, there's no timeline as to when they're going to tell us, but hopefully earlier the better. But I can't predict when they're going to say something, but they have to say something soon.

Okay. Okay. And can some of that be offset through China? I know you delivered four to China in the second quarter. You know, those purchases are typically variable. if you delivered four in the second quarter, is there a possibility you could deliver more to China this quarter, or is that unlikely in this quarter?

I would say this, that because of MD-SAP, which is the license to sell all of the SRT technologies, not just the SRT-100, which is what we had before with the EU and with China, but with MD-SAP, it allows us to sell all of our products, including the Vision product, to a whole lot more countries than we had before, including Japan, India, Brazil. Those things would have cost an awful lot of money for us and probably would have happened in another two years. And again, Michael was the one who instigated that along with our quality and regulatory people. And so we've been working on something. We've been working on MD SAP for the last 24 months. And it came to fruition where we met all of the requirements and went through all of the audits very quickly and got the approval. So I would tell you that I think that China will continue to order, but we're looking forward to other orders from other parts of the world.

Okay, great. And then I guess lastly, just back to the reimbursement issue, you have the LCD and then you have the post-position fee schedule. Let's say, I know you've been doing some lobbying, Michael's been involved in lobbying for the LCD. But let's say that comes back and it is, you know, significantly reduced reimbursement there. What is your – what's your path forward? Can you appeal it, or is this like the time period where, you know, you can – or once it's made, it's up to reverse?

Anthony, let me let Michael answer, but let me just reiterate. This is strictly focused on ultrasound. It's strictly focused on one code, not all the codes. It's strictly focused on the ultrasound code. And they just felt they're trying to say that it was used too much. You don't need to use it every fraction. And they're trying to say that, okay? We're trying to go the other way by saying, you know, you use MRI, you use CT scanners, you use all this other stuff for every fraction that you use to treat lung cancer, breast cancer, prostate cancer, all of those things are used on every fraction. Why do you think it needs to be less useful for skin cancer? It's the only device that's able to start and show a treatment plan at the beginning, which is extremely important. And even when you do surgery, if the patient says, show me that you got everything, that you got the entire lesion, the doctor says, yeah, I got it. I tell you I got it all. There's nothing that's visible that shows the patient, except if you use an ultrasound that's on the vision product. That's the only product that's able to show the patient, look, it's gone. Here it was at the beginning. Here's your treatment. It's gone now. Nothing else exists. Go ahead, Michael. Yeah, no, I hear you. Yeah, Michael.

Yeah, to reiterate what Joe was saying, on the LCD side of things, it was really only about parameters of the usage of ultrasound, like Joe said. And the thing is for them, and it was a single organization, I'm not going to name names, that decided to try to fight against it, and they have absolutely no evidence to support their claim that it doesn't help, where in fact we, the SRT stakeholders amongst two or three other entities, have tremendous evidence showing that image guidance on SRT is actually tremendously helpful, both from a clinical study standpoint, including a clinical study that was done at NIH that they published it. So you can see it at NIH, which I don't, you know, there's no real entity that's better than NIH for showing clinical studies. So we have overwhelming evidence that's going to push that back on the LCD side of things. And then flipping it over to the Medicare side of things, the proposed physician fee schedule, what they're issuing here is a proposal to increase the delivery code of SRT. Now, when I say that is, it is for the vision, for the plus, and for the SRT. So the delivery code has nothing to do with which device we're talking about, the SRT100 vision, the SRT plus, or the base SRT100. So it would help both the vision, which has ultrasound, and the SRT100 that does not have ultrasound. So that's what's being proposed here. And I think that it's something that we've been asking for since before we even invented IGSRT, which is pretty cool. Does that make sense?

Yeah, no, it makes a lot of sense. I mean, as we all know, skin cancer is the number one cancer, and we all know whether you surgically try to remove it or whether you use SRT, you have to make sure you get the entire parameter, whether that's vertically deep or horizontal out. to make sure you clear those margins and you would think imaging that to ensure that is something that should be standard practice so it is it is a little bit shocking but hopefully uh the the proper level for value yes one of the things anthony to that point anthony we've got a new administration and they're looking at everything so we know that our our uh h you

Our health and human services is looking at everything that they possibly can to try to reduce costs, make sure that there's no fraud and abuse in anything, and so they're very, very particular. So it's our job now, unfortunately or fortunately, to have to go through the lobbying efforts to help them better understand this new administration, what's going on. Think of it. There was no letter. There was nothing for the last five years, and all of a sudden an entity comes up with a letter, and they are not even a stakeholder in this. They have no say in any of this, but they came up with a letter because they're thinking that this is being used too much or whatever. Well, you know, we're going to prove that it's not being used too much, that it's a help to the patient, and it's a help to the outcomes for the patient. So as we educate them, this new administration, I think that they're gaining understanding. It seems that they recognize that when we talk to them each and every time, and they're open to the discussions. It's not like they're closed. They're almost like this letter came in, and now they've got to address it. They want to do the right thing. So we're presenting the other side of the story, but there was really nothing as far as evidence from the other side that decided to make a beef about it. They don't have any proof that it doesn't work. It works, and we're showing them that it does. Okay, great.

I'll hop back in the queue. Thanks, guys. Thanks, Anthony. Good questions.

Again, if you have a question, please press star. than one. Our next question will come from Yi Chen with H.C. Wainwright & Co. Please go ahead.

Hi, this is Eduardo on for Yi. Kind of an interesting whirlwind with this LCD and the schedule change. Maybe have some details on the ROS distribution efforts and when you expect that to mature and impact sales. And yeah, just get some details there and then have a follow-up on the smaller conferences you guys are planning on attending and any success with that.

I'll give you an opening statement on this, and again I'll pass it on to Michael. But we've had a relationship with ROS and the leadership there for, I would say, 10, 15 years. Very, very highly respected organization within the radiation oncology world. They have strategic relationships throughout oncology, and they've been able to provide equipment and services to radiation oncology, I would say, for the last 20, 25 years. So we've been kind of friends in wanting to work together for the last several years. COVID probably got in the middle of a lot of things, and, you know, you had to do a lot of resets, both them as well as us, post-COVID. But that relationship is very, very strong, and we finally got together, put together an agreement, and we're anxious for the results. From my standpoint, I think that we're going to see results before the end of the year, and I'll pass it on to Michael since he's had the last conversation with the whole organization. But their leadership is phenomenal, and their infrastructure is great.

Yeah, we continue to have meetings with them. They're getting ramped up very quickly. They've been around for about 20 years. They have excellent relationships with hospitals, so we're very excited to partner with them, their whole organization. They even have an international front as well, which we may expand into. They have some expertise. I told them about our MD SAP, and they were extremely excited. So I think that they can put us in touch with really, really high-end distributors that do the same thing that they do here domestically, internationally, in certain territories.

That's really helpful. And on that note of the MD SAP certification and expanding into international markets, do you have a timeline? Obviously, the connection through Ross is going to be hopefully really beneficial. Do you have a timeline for when you expect those relationships or kind of agreements to materialize and formalize?

Yeah, absolutely. So some of them are going to be immediate. For instance, I'm actually traveling to Japan and Taiwan at the end of this month. So there's a Japanese-Taiwanese co-radiation meeting that's happening at the end of August, and I'll be going with our VP of International Affairs and meeting with the Japanese Radiation Regulatory Committee as well as the Taiwanese. And we already have an SRT100 vision that was sold last year, if you remember, to Taiwan. So the official ribbon cutting will be sometime soon. We're very excited about that, although they've been treating patients for over a year now. So I think that this is going to roll pretty quickly, especially in Asia, because of the China presence that we've had for the last 10 years. And it just boils over to that. And then South America, I think, will be shortly after. And as Joe mentioned, this greatly helps us in India as well and just gives us a backbone that we never had before in international. So we're pretty excited.

Yeah, really exciting, especially, you know, the current uncertainty with domestic. I guess the final one. Do you see, I know obviously maybe it might be hard to tell with kind of the general pause given the LCD and that uncertainty there, But do you feel there's any macro-level softness in capital equipment spending in dermatology or oncology? Or do you think this pause is just kind of specific to some of the immediate uncertainties?

No, I don't think so. I think it's just immediate for SRT. And if you remember that the new administration just increased the Section 179 spending limit to $1 million from $500,000. So that's going to be helpful. And, Joe, I think you were trying to say something as well.

Yeah, you know, I think that either way, I think that our FDA agreement is still going to be continuing to grow. As Javier announced, we had a 27% increase in utilization of patients being processed with our FDA program over Q1. We feel that Q3 is going to, you know, show the same results, if not greater. So it continues to evolve, and whether it's one program or the other, and, again, our preference is to remain status quo, we think that this is going to grow in leaps and bounds. And I think that once the government makes the decision as to which way they're going to go, preferably, again, the status quo, I think that gives clear sight for everybody in the marketplace that this is the way to go and the FDA, I think, is going to prosper and I think it's going to accelerate.

Got it. That's all really helpful. Thanks for taking the questions.

Thanks, Eduardo. With no further questions, this will conclude our question and answer session. I would like to turn the conference back over to Joe Sardano for any closing remarks.

Okay. Well, as we wrap up today's call, I want to thank you all for your continued interest in census health care. We look forward to speaking to you again in about three months. Have a good one, everybody.

Thank you. The conference has now concluded. Thank you for attending today's presentation. You may now disconnect.