Monogram Technologies Third Quarter 2024 Financial Results Reviewed

Monogram Technologies Inc., an AI-driven robotics company specializing in orthopedic surgery, has released its financial outcomes for the third quarter of 2024. Highlights include an upsized $13 million public offering to advance commercialization goals and a submission to the FDA for its mBôs TKA System. The company faced an Additional Information Request from the FDA, which paused the application pending further response.

Monogram reported a net loss of $5 million in Q3 2024, an increase from $1 million the previous year, attributed to higher marketing expenses linked to a stock offering campaign. R&D costs decreased from $2.7 million to $2.2 million due to the finalizing of its robotic system's verification phase. Meanwhile, marketing expenditures soared, resulting from a significant promotional drive.

Monogram's current assets reached $18.6 million from $14.6 million by year-end 2023, indicating careful resource management. As the company seeks FDA clearance and prepares international trials, stakeholders anticipate further strategic updates.