Vicarious Surgical Inc.

Thank you for attending the Vicarious Surgicals 2025 Third Quarter Earnings Call. My name is Cameron and I'll be your moderator for today. All lines will be muted during the presentation. All lines will be muted during the presentation portion of the call with an opportunity for questions and answers at the end. If you would like to ask a question, please press star followed by one on your telephone keypad. And I would now like to pass the conference over to your host, Marissa Peitsch, with the Gil Martin Group. You may proceed.

Great. Good afternoon. Today after market closed, Vicarious Surgical released financial results for the three months ended September 30, 2025. A copy of the press release is available on the company website. Before we begin, I'd like to remind you that management will make statements during this call that include forward-looking statements within the meaning of federal securities laws, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Any statements contained in this call that relate to expectations or predictions of future events, results, or performance are forward-looking statements. All forward-looking statements including without limitation, those relating to obtaining approval for the vicarious surgical system, and timing for any such approval, the timing of future clinical trials and FDA submissions, cash burn expectations, or operating trends and future financial performance, expense management, market opportunity, and commercialization are based upon our current estimates and various assumptions. These statements involve material risks and uncertainties, that could cause actual results or events to materially differ from those anticipated or implied by these forward-looking statements. Accordingly, you should not place undue reliance on these statements. For a list and description of the risks and uncertainties associated with our business, please refer to the risk factors set forth in our Securities and Exchange Commission filings, including our most recent Forms 10-K and Form 10-Q. This conference call contains time-sensitive information and is accurate only as of the live broadcast today, November 12, 2025. Vicarious Surgical disclaims any intention or obligation, except as required by law, to update or revise any financial projections or forward-looking statements, whether because of new information, future events, or otherwise. Now I'll hand the call over to Stephen Fromm, Chief Executive Officer, to begin prepared remarks. Stephen?

Thank you, Marisa, and good afternoon, everyone. It's been a little over three months since I stepped into this role. We've moved from assessment to execution, and my focus has become clear. Reach design freeze, extend our runway through meaningful burn reduction, and strengthen how we operate and communicate as a company. Our main priority remains achieving design freeze of the production equivalent system, the version that includes all features and specifications required for commercialization. we continue to target completion by year-end 2026. This milestone is the foundation for everything that follows, from clinical entry to eventual commercialization, and it drives how we sequence resources and decision-making across the company. The second area of focus is reducing burn. We've acted quickly on feedback received through recent investor outreach in our October fundraise and launched a detailed exercise to identify the most effective ways to lower spending while maintaining our targeted design freeze timeline. That process has led us to evaluate targeted outsourcing opportunities and structural changes that can allow us to preserve engineering progress while improving capital efficiency. Since commencing this exercise, we have already restructured some of our internal teams and reduced headcount in certain functions. The framework is straightforward. We retain and invest in the areas that define and differentiate our technology, our robotic arms, camera systems, and core software, while evaluating outsourcing for elements that are less unique to us, such as portions of the capital equipment. This approach allows us to protect our core innovation while improving capital efficiency. To support this effort, we've engaged a well-known consulting firm to perform a gap analysis and prepare recommendations and requests for proposals for outsourcing partners. That work is underway and expected to be completed by the end of November. The goal is to enter 2026 with a disciplined plan that meaningfully reduces burn while maintaining momentum toward design freeze. In October, we strengthened our balance sheet with approximately 5.9 million in gross proceeds from a registered direct offering. Those funds support the cost actions I just outlined and the work required to keep development on track. We're also taking steps to improve our communication and transparency. Going forward, we will be sharing updates about the development of our platform, including our progress and the challenges that come with building a surgical robot in the form of short posts and videos on our LinkedIn page and our investor relations website. We will also introduce educational features on why certain steps like control, build, and our quality management system matter. The goal is to give investors and partners a clear view of how innovation happens here, not just what we build, but how we build it. That's the posture we're carrying forward, disciplined on spend, focused on design freeze, and straightforward in how we communicate progress. With that, I'll turn it over to our CFO, Sarah Romano, to walk you through the financials.