Full Press Release Details
Vicarious Surgical Reports Third Quarter 2025
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."
Quarter 2025 Financial Results
Full Year 2025 Cash Burn Guidance
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 (https://investor.vicarioussurgical.com/), its LinkedIn page (https://linkedin.com/company/vicarious-surgical/)
and its X feed (@VicariousSurg) 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
VICARIOUS SURGICAL INC.
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL
(in thousands, except share and per share data)
Adjusted net loss and Adjusted EPS
| Three Months Ended September 30, | Nine Months Ended 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. Factors that may cause such differences include, but are not limited to: the ability to maintain the listing of Vicarious Surgical's
Class A common stock on the New York Stock Exchange; the approval, commercialization and adoption of Vicarious Surgical's initial
product candidates and the success of its single-port surgical robot, called the Vicarious Surgical System, and any of its future product
candidates and service offerings; changes in applicable laws or regulations; the ability of Vicarious Surgical to raise financing in the
future; the success, cost and timing of Vicarious Surgical's product and service development activities; the potential attributes
and benefits of Vicarious Surgical's product candidates and services; Vicarious Surgical's ability to obtain and maintain
regulatory approval for the Vicarious Surgical System, and any related restrictions and limitations of any approved product; the size
and duration of human clinical trials for the Vicarious Surgical System; Vicarious Surgical's ability to identify, in-license or
acquire additional technology; Vicarious Surgical's ability to maintain its existing license, manufacture, supply and distribution
agreements; Vicarious Surgical's ability to compete with other companies currently marketing or engaged in the development of products
and services that Vicarious Surgical is currently marketing or developing; the size and growth potential of the markets for Vicarious
Surgical's product candidates and services, and its ability to serve those markets, either alone or in partnership with others;
the pricing of Vicarious Surgical's product candidates and services and reimbursement for medical procedures conducted using its
product candidates and services; the company's estimates regarding expenses, revenue, capital requirements and needs for additional
financing; Vicarious Surgical's financial performance; economic downturns, political and market conditions and their potential to
adversely affect Vicarious Surgical's business, financial condition and results of operations; Vicarious Surgical's intellectual
property rights and its ability to protect or enforce those rights, and the impact on its business, results and financial condition if
it is unsuccessful in doing so; and other risks and uncertainties indicated from time to time in Vicarious Surgical's filings with
the SEC. Vicarious Surgical cautions that the foregoing list of factors is not exclusive. The company cautions readers not to place undue
reliance upon any forward-looking statements, which speak only as of the date made. Vicarious Surgical does not undertake or accept any
obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its
expectations or any change in events, conditions or circumstances on which any such statement is based.
VICARIOUS SURGICAL INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS