WALTHAM, Mass.--(BUSINESS WIRE)--November 12, 2025--
Vicarious Surgical Inc. ("Vicarious Surgical" or the "Company") (NYSE: RBOT, RBOT WS), a next-generation robotics technology company seeking to improve lives by transforming robotic surgery, today announced financial results for the third quarter ended September 30, 2025. Management will host a corresponding conference call at 4:30 p.m. ET today, November 12, 2025.
"Since stepping into this role three months ago, my focus has been on sharpening our execution and capital discipline strategies," said Stephen From, Chief Executive Officer. "We've made important progress toward design freeze and have commenced implementation of a detailed plan to reduce our burn rate while keeping development timelines on track. I look forward to providing continued updates as we move through this next phase. Additionally, we are pleased to have raised $5.9 million in gross proceeds in a registered direct offering in October, allowing us to further support our operations and accomplish our goals."
Third Quarter 2025 Financial Results
-- Total operating expenses were $11.5 million in the third quarter of
2025, compared to $17.8 million in the third quarter of 2024, a decrease
of 35%.
-- Research and development expenses in the third quarter of 2025 were
$8.0 million, compared to $10.8 million in the third quarter of 2024, a
decrease of 26%.
-- General and administrative expenses in the third quarter of 2025 were
$3.2 million, compared to $5.7 million in the third quarter of 2024, a
decrease of 45%.
-- Sales and marketing expenses in the third quarter of 2025 were $0.4
million, compared to $1.2 million in the third quarter of 2024, a
decrease of 71%.
-- GAAP net loss in the third quarter of 2025 was $11.1 million, or GAAP
net loss per share of $1.86. This compares to GAAP net loss in the third
quarter of 2024 of $17.1 million, or GAAP net loss per share of $2.90.
Non-GAAP adjusted net loss in the third quarter of 2025 was $11.3 million,
or adjusted net loss per share of $1.91. This compares to non-GAAP
adjusted net loss in the third quarter of 2024 of $17.0 million, or
adjusted net loss per share of $2.87.
-- The Company had $13.4 million of cash and investments as of September
30, 2025. The Company's cash burn rate for the third quarter of 2025 was
$10.5 million.
Full Year 2025 Cash Burn Guidance
-- Vicarious Surgical expects full year 2025 cash burn of approximately
$50 million.
Conference Call
Vicarious Surgical will host a conference call today, Wednesday, November 12, 2025, at 4:30 p.m. ET to discuss its third quarter 2025 financial results. The call may be accessed through an operator by dialing +1 833-470-1428 for domestic callers or +1 404-975-4839 for international callers, using access code: 623856. A live and archived webcast of the event will be available at https://investor.vicarioussurgical.com.
About Vicarious Surgical
Founded in 2014, Vicarious Surgical is a next generation robotics company, developing a unique disruptive technology with the multiple goals of substantially increasing the efficiency of surgical procedures, improving patient outcomes, and reducing healthcare costs. The Company's novel surgical approach uses proprietary human-like surgical robots to virtually transport surgeons inside the patient to perform minimally invasive surgery. The Company is led by an experienced team of technologists, medical device professionals and physicians, and has receiving backing from technology luminaries including Bill Gates, Vinod Khosla's Khosla Ventures, Innovation Endeavors, Jerry Yang's AME Cloud Ventures, Sun Hung Kai & Co. Ltd and Philip Liang's E15 VC. The Company is headquartered in Waltham, Massachusetts. Learn more at www.vicarioussurgical.com. Visit us on LinkedIn here.
In accordance with guidance provided by the SEC regarding use by a company of its websites and social media channels as a means to disclose material information to investors and to comply with its disclosure obligations under Regulation FD, the Company hereby notifies investors, the media and other interested parties that it intends to continue to use its investor relations website to publish important information about the Company, including information that may be deemed material to investors. The list of social media channels that the Company uses may be updated on its investor relations website from time to time. The Company encourages investors, the media, and other interested parties to review the information the Company posts on its website and social media channels as described above, in addition to information announced by the Company through its SEC filings, press releases and public conference calls and webcasts.
Use of Non-GAAP Financial Measures
In addition to providing financial measurements that have been prepared in accordance with accounting principles generally accepted in the United States of America ("U.S. GAAP"), Vicarious Surgical provides additional financial metrics that are not prepared in accordance with U.S. GAAP ("non-GAAP"). The non-GAAP financial measures included in this press release are Adjusted Net Loss and Adjusted Net Loss Per Share ("Adjusted EPS", and together with Adjusted Net Loss, "Non-GAAP Financial Measures"). The Company presents Non-GAAP Financial Measures in order to assist readers of its consolidated financial statements in understanding the core operating results that its management uses to evaluate the business and for financial planning purposes. Vicarious Surgical's Non-GAAP financial measures provide an additional tool for investors to use in comparing its financial performance over multiple periods.
Adjusted Net Loss and Adjusted EPS are key performance measures that Vicarious Surgical's management uses to assess its operating performance. These Non-GAAP Financial Measures facilitate internal comparisons of Vicarious Surgical's operating performance on a more consistent basis. Vicarious Surgical uses these performance measures for business planning purposes and forecasting. Vicarious Surgical believes that the Non-GAAP Financial Measures enhance an investor's understanding of Vicarious Surgical's financial performance as it is useful in assessing its operating performance from period-to-period by excluding certain items that Vicarious Surgical believes are not representative of its core business.
The Non-GAAP Financials Measures may not be comparable to similarly titled measures of other companies because they may not calculate this measure in the same manner. Adjusted Net Loss and Adjusted EPS are not prepared in accordance with U.S. GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with U.S. GAAP. When evaluating Vicarious Surgical's performance, you should consider the Non-GAAP Financial Measures alongside other financial performance measures prepared in accordance with U.S. GAAP, including net loss.
The Non-GAAP Financial Measures do not replace the presentation of Vicarious Surgical's U.S. GAAP financial results and should only be used as a supplement to, not as a substitute for, Vicarious Surgical's financial results presented in accordance with U.S. GAAP. In this press release, Vicarious Surgical has provided a reconciliation of Adjusted Net Loss to net loss, the most directly comparable U.S. GAAP financial measure, and the calculation for Adjusted EPS.
VICARIOUS SURGICAL INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES
(in thousands, except share and per share data)
Adjusted net loss and Adjusted EPS
Three Months Ended Nine Months Ended
September 30, September 30,
------------------------ --------------------------
2025 2024 2025 2024
----------- ----------- ----------- -------------
Net loss $ (11,058) $ (17,091) $ (39,667) $ (49,297)
Change in
fair value
of warrant
liabilities 287 (138) 234 (415)
--------- --------- --------- ---------
Adjusted net
loss (11,345) (16,953) (39,901) (48,882)
--------- --------- --------- ---------
Adjusted EPS,
basic and
diluted $ (1.91) $ (2.87) $ (6.72) $ (8.32)
========= ========= ========= =========
Weighted
average
shares,
basic and
diluted 5,954,405 5,899,616 5,939,138 5,876,626
Forward-Looking Statements
This press release includes "forward-looking statements" within the meaning of the "safe harbor" provisions of the United States Private Securities Litigation Reform Act of 1995. The company's actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. All statements other than statements of historical facts contained herein, including without limitation the quotations of our Chief Executive Officer regarding Vicarious Surgical's opportunity, progress to design freeze, potential reductions to cash burn rate, expected cash burn for fiscal year 2025, the potential to enhance patient outcomes, and development timelines, are forward-looking statements that reflect the current beliefs and expectations of management. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Vicarious Surgical's control and are difficult to predict.
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