Helius Medical Technologies Inc (HSDT) Q1 2024 Earnings Call Transcript Highlights: Strategic ...

GuruFocus.com05-14

Total Revenue: $135,000 for Q1 2024, up $24,000 from $111,000 in Q1 2023. Cost of Revenue: $123,000 for Q1 2024, relatively flat compared to $122,000 in Q1 2023. Selling, General and Administrative ...

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GuruFocus has detected 4 Warning Signs with HSDT.\n\nRelease Date: May 13, 2024\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.\n Positive Points \n\nHelius Medical Technologies Inc (NASDAQ:HSDT) secured CMS Medicare HCPCS codes for PoNS device, enhancing reimbursement opportunities.\nThe company announced a $6.4 million financing, extending its cash runway into 2025, supporting ongoing projects.\nHelius Medical Technologies Inc (NASDAQ:HSDT) is making significant progress in its stroke authorization pursuit in the U.S., adding new clinical sites and aligning with FDA on development plans.\nPartnership with Lovell Government Services to make PoNS available to VA and DoD, expanding access to federal healthcare systems.\nPositive preliminary Medicare payment determinations for PoNS devices, with expectations for favorable final determinations to boost revenue.\n\n Negative Points \n\nDespite advancements, the final Medicare payment rates for PoNS devices are still under negotiation, with uncertainty about the outcomes.\nNet loss reported for Q1 2024 was $2.5 million, indicating ongoing financial challenges despite reduced operating loss.\nRevenues remain low at $135,000 for Q1 2024, reflecting the niche market and high price points of PoNS devices.\nThe dependency on future CMS reimbursement approvals to significantly boost revenue introduces risk if approvals are delayed or lower than expected.\nHelius Medical Technologies Inc (NASDAQ:HSDT) faces challenges in expanding its physical therapist network for PoNS therapy, critical for patient access and treatment efficacy.\n\n Q & A Highlights \nQ: Can you provide more details on the timeline and current status of the agreement with Lovell Government Services? A: Dane Andreeff, President and CEO of Helius Medical Technologies, explained that the process of getting PoNS therapy on contract with the FSS and GSA is nearing completion and should be public soon. Training for teams is expected to be completed by June 1, allowing them to start receiving prescriptions and training VA rehab experts shortly thereafter.\nQ: When do you expect to start receiving prescriptions under the new agreement? A: Dane Andreeff clarified that they hope to start receiving prescriptions by early June, following necessary training on both sides. There is already interest from some VAs in using PoNS therapy for their MS patients.\nQ: What is the process for physical therapists to get trained on PoNS therapy? A: Jeffrey Mathiesen, CFO of Helius Medical Technologies, mentioned that physical therapists need to be trained before they can order PoNS therapy. The training is modularized and can be completed in three hours or less, allowing for quick certification.\nQ: Have you seen an increase in demand for physical therapists taking the training program for PoNS therapy? A: Dane Andreeff noted a steady increase in demand for training among physical therapists in both the US and Canada. This is partly driven by commercial payers' desire to see more geographic coverage of trained therapists.\nQ: Are you targeting specific locations or physical therapists to ensure geographic coverage in the US for when CMS reimbursement codes are approved? A: Dane Andreeff mentioned that they are seeing a lot of patients filing claims through existing registered PoNS trainers. The goal is to partner with regional and super-regional physical therapy chains to quickly expand coverage once reimbursement becomes effective.\nQ: What are the next steps and expectations for the rollout of PoNS therapy in VA settings? A: Dane Andreeff highlighted that the rollout involves training and an order process where physical therapists must be trained before placing orders. This setup is expected to streamline the introduction of PoNS therapy in VA settings, enhancing access for veterans.\nFor the complete transcript of the earnings call, please refer to the full earnings call transcript.This article first appeared on \nGuruFocus.","kind":null,"is_publish_news":true,"is_publish_highlight":false,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.24.2","shortVersion":"4.24.2","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2435563800"}