Motus GI (MOTS) 30 Mar 222021 Q4 Earnings call transcript

Ladies and gentlemen, thank you for standing by, and welcome to the Motus GI Holdings Fourth Quarter 2021 Financial and Operational Updates. [Operator Instructions] I must advise you all that the conference today is being recorded. I would like to turn the call over to Garth Russell of LifeSci Advisors. Please go ahead.

Thank you, operator, and thank you, everyone, for joining us for the Motus GI fourth quarter 2021 update call today. Tim Mark Executive Operating Pomeranz, Motus are Chief Andrew Officer company GI. Officer; Financial President the Moran, Officer; Chief Taylor, of Representing and Chief

differ. I management the remind to statements this webcast their over about turning and that to to only call contain statements to that Before of could opening of results to a call These reflect date uncertainties cause you remarks, forward-looking these opinions will would conference minute and statements Please certain are this that risks as the subject the like take for our note actual forward-looking call. company.

in future not XX-K and filings recent to undertake cause actual Factors in most filings or of will these over publicly greater revisions discussed by that outcomes turn filed the with Form the revise or results X-K on to from statements detail materially forward-looking reports to implied release would the Tim, Moran, or is the forward-looking or statements We SEC. floor call of those on now events. obligation of such light expressed any are Motus any CEO Tim I could results yours. in differ periodic to like information our Forms our to and GI. XX-Q new

of share and believe business in highlight Thanks, and we to our accelerate everyone. update our an our catalysts fourth XXXX excited Thank upcoming good I'm on quarter morning, through call significantly Garth, you for XXXX. several today. joining will that progress key the

for an get year questions. to December up the provide With we the your will an call and started. XX, Andrew that will of ended then overview financial updates, as let's my performance open our outline, Following XXXX. take And quarter

development the delivered to procedural to of key market strategy growth technology move from believe the KOL stage adoption on where plan, Over the challenging our the relationships, next key conditions, our our we've of learnings broad growth gained of XX the U.S. the and stage has into many begin long-term our and been foundation and milestones months, established we've important market drive to despite commercial last advanced is market. built in which

evolution exciting now we as an armed technology time result with right entering company a of as in commercial and team the of are colonoscopy pandemic. of a the the We the are significant backlog procedures and expanding

me see frame quickly to let we the quarter, an that the will First, provide of also ahead. overview past momentum which help

the resurgence impact disposable and our target commercial of reported, overall saw of and fourth due the new of COVID widely the to variant. on had revenues. This been shortages quarter system of by the an has obvious much Omicron existing the At staffing due to the including placements delays As was Pure-Vu constraints. and progress rate in quarter impacted capacity we hospitals,

While have to continued a quarter restrictions month. the see last these over resources issues into general begun first of the and XXXX, of we improved lifting

enhance use the unmet the was the poor intuitive address disruptions Pure-Vu solution we've significant use therapies need when our that that at clearance quarter, the customer. to FDA designed bowel customer This engagements to for now of change and new are strategy insufficient in optimistic and due EVS colonoscopy. future. of ease anticipation deployment into stability combination less EVS validated will to the rapid result, We in of Pure-Vu eagerly strategically advanced those we system technology in postpone the and all-new were the first evaluations that to awaiting associated system. for prep overall February. the a gaining visualization we accounts have for new of FDA may EVS with clearance as are the is improved to most Every provide prior there received our end of With and Pure-Vu was We we believe that vaccine incorporated commercial a said, be hopeful greater business the

sleeve, Motus irrigation We have load starts the more new training visualization. staff. onto This not significant sleeve from EVS and dirty future. determines KOL, bedside outpatient and just for utility Clinical the five the EVS loading for process a share also upper now Chief platform reduction and XX% system XX adoption is have torturous utilized its more clinical from more the price-sensitive the our provides our The insight will market in FDA tubes the focal go-to new ongoing increased is of take deployed Seth certain a in prefers be case was four our key by and the targeted into upper future. navigation GI our to to to reach making let U.S. irrigation eliminate in this in been it well both by featured the XX% And multiple the and flexible. it than a that the since will disposable sleeve overall as room of we if solution pleased We ultrafast next both solution EVS procedure approval, cleansing first need of the be and Pure-Vu individual of that can Further, sleeve. the previous the a overview to Dr. have received procedures. after has suction provide device from aspects and by were aborting moving can to will the that rapid including hospital platform commercial where capabilities, drastically me me, GI for website. our near scope the the hear Pure-Vu the the as Gross, in multichannel colon support. procedure physicians we margins this allows valuable beneficial to report Innovation of user real-world space point EVS This Health. from for Pure-Vu our procedures can and the setup acute versus overall as loading The sleeve end improve regions removed well extremely believe general our colons and the markets, hospitals. addresses valuable Gastroenterology workstation. GI in-person both from utilizing our the goods I months. their expect which at on-demand positioning The outside makes detailed the product, flexibility address wider a the the for they believe we the be Rather reps easily without sleeve into case the that in inpatient physician us minimal the into of and Langone as hospital and of complete for the pristine system which am hands I physicians encouraging. available hospitals breakdown first physicians you GI is of cost and why GI getting as at The reduction and Hepatology a scope prepped we a increase at setup. in and This the patient this This EVS invite a even few providing Pure-Vu event use fixture well lighter in in complete improved existing we a than quickly believe very feedback in Division provided Pure-Vu attached. NYU of bleeding. Pure-Vu and as the physician their colon XX% the both staff capabilities outpatient efficient five. number technology new suction would the in We need EVS utilization allow can requires Together, this quotes for procedure. allows I'd directly This have guest weeks on faster simple, case on increase enough, summary, during new look streamlining the of advancements capabilities success. cleansing, jets intuitive, Day, physicians over from the simplifies for and with the to of Therefore, already sleeve XX% the finally, system XX accomplished is and the COGS simplified dozen in our generation Pure-Vu replay to In especially drive last of the tube of a sites eliminated GI to staff in single listen carries we event, our discussed true reusable few feedback these very we've seconds. The rather

like quote functions Health, water me John way. better that to Sri and versus and LifeBridge capabilities precise four Medicine, on design a first from lightweight a the is provide than Sinai at slimmer and second new from Hospital retroflex Northwestern stated, The much improved the focused earlier five allow and Dr. the next Dr. the more and and target irrigation to bare feels providing generation, more sleeve effective he Kommandor jets, Rabin at in Sri as ability scope comes me needed. and the the generation, cleanse The commented, control much

continue commercial be and revenue that XXXX. EVS sales force efforts to reps, plan to expanding we we in discussed we sales believe the and lead our of future into As the to XXXX, three to will team, of which from report six significant expect call, strategically for to additional size our launch. go company. commercial already By in expansion the growth we invest since have moving our am we last both throughout our doubled Pure-Vu deeper expect we've team, excited our I grow lean wider, able to to support to in the

Now upcoming on let's discuss progress our key catalysts.

plan of clinical to review we new generation will us Vice came me Clinical of from and QX, our who oversee forward. clinical hired Affairs, for strategy outpatient and let In the activities lead President moving data. and a our First, Medtronic our reimbursement new

the Pure-Vu we strategy both time, public will believe million our of for payers. States. private the seek a medical it in high Over of need have developed further commercial previously, and multipronged believe United procedure reimbursement, discussed X.X by procedures we into outpatients. represents per secure approximately market we the screening to colorectal portion if We market can reimbursement As and this the secure to year system help cancer accelerate expansion patient large

are will large applications screening generate endpoints clinical EVS economic trial expect clinical As future that believe multicenter currently cancer that support Pure-Vu reimbursement outpatient for and we of the in the such, system. will we a we designing segment

the incorporate existing into study of history the on the patients. track study remains Pure-Vu to and post to in and investigator-initiated fully low-volume baseline This of patients to study from prep. This active now a Cleveland European Clinic. with XX In has European poor endpoint enrolled designed scale. bowel to clinical procedure patients as Bowl bowel conducted Pure-Vu second enrolled This a U.S., system. outcome the minimal outpatient study is The limited EVS for the the diet clinical preparation studies. am with in study planning for Moving the preprocedural to GI bleeding, Boston at restrictions the all we Pure-Vu health Preparation bowel preparation quarter. being this the at pleased in announce in by two with and I are using is study lower prep investigator-initiated utilizing evaluating completion Union is primary improvement centers clinical being clinical is examine that the conducted is assessed

two standard the the to with such, utilize Pure-Vu will of time care. for tap physician As diagnosis to conjunction in water faster enemas compared just allowing

we capabilities project FDA In terms of product Pure-Vu initiated upper EVS have to a that the Pure-Vu the add EVS system, for now GI received new clearance we ongoing innovation, platform. to

our expect the recall, for has and procedures use KOLs, EVS U.S. and been Gen is to to more each critical treat There upper design limited and visualization performed larger approximately in port for and hospitals the to upper been we've a are you suction running using GI us year GI Pure-Vu XXX,XXX from in optimize physician a pilot flexible reiterated sleeve locate approval If cases. the bleeds. X proper requirement bleed bleed

ahead. months and We to will in strategic potential finally, partnerships provide updates project turning the and time lines collaborations. And

advance several continue We with partners. to strategic and dialogue relationships potential our

and on to is pathways U.S. U.S., unlocking efforts targeted regions accelerate expand development the our commercial the in evaluating for enhancing Our shareholders. in outside and our technology and focus value all

turn consideration. and greater the detail will financials. we call utilization fit With As will continue the to believe strategic I to now criteria that, drive and our available Andrew market, for of EVS Pure-Vu awareness become provide options we over are in actionable our QuarterX on that to

year. the of $XXX,XXX year us and compared quarter today. the compared you, everyone, you, $XX,XXX for to year XXXX. XXXX last to revenue the for XXXX joining for of fourth $XX,XXX We $XXX,XXX reported approximately totaled for same Full thank Thank Tim, approximately period revenue full

results. sales Tim and shortages As the fourth representative our access. impacted delays to evaluations previously hospital planned We referenced, new existing Omicron encountered and limited quarter with variant staff both due significantly

Additionally, over hospital past in and few accounts activities the launch, onboarding at months weeks began company strategically postponed the sales which system few anticipation certain ago. a of new the

the of and placements of system, new our commercial and significantly finalize of reorders we new course anticipate grow the contracts. with number EVS Over XXXX expect our sleeves Pure-Vu increase Pure-Vu the throughout system release and We to year. new capital of to

$X.XX a net net loss of or and share basic $X.XX diluted and million for basic of per approximately or share $X.X ended the three compared year. reported last million the loss For December $X.X to we XXXX, period a same per XX, diluted months

For XX, diluted $XX.X the December warrant issuance net XXXX. to December a year million was included compares loss a loss shareholders our period onetime XXXX, which loss for warrant year for was dividend the million year. last basic million ended to a of $XX.X to agreement for ended last of for attributable $X.XX year. noncash XX, XX, to Net same the million deemed attributable the This million $XX period to December XXXX. XXXX, attributable associated year The net $XX.X same compared common $X.XX ended first common per quarter exchange reported common with net $X.X the totaling from we shareholders from compared loss to the shareholders share and

December Excluding for and year. from ended consistent been $X.XX loss basic provides evaluating diluted XXXX, would have the and $X.XX year means this additional to issuance, share the onetime performance. deemed net operating period-over-period for dividend the per measure We warrant believe compared our of financial prior XX,

of from purchase quarter fourth $X the for the Net covenants activities $XX.X funded Kreos included balance $X.X of fixed million $XX.X At cash for ended assets During million $XX.X and are December XXXX, XX, in the million and no cash which Capital, we operating compared to put for of our equivalents. period the purchase of cash financial with period and activities during the XXXX, fully this during same facility. fixed operating XXXX, year in with totaled credit XXXX. used in used was the net was cash XXXX. compared same in This to December for reported or the facility $XX associated There XX, million million liquidity million assets place third quarter.

Tim. XXXX. and call is us Our meet to of needs creation continue executing to quarter our to that, anticipated And with overall our over expected allows turn current on and this drivers cash through year balance the value back now the cash I'll first into

summary, in company's moment are In at Andrew. our evolution. we Thanks, defining a

me to activities. has point sure right ramp to we time the We at their worked keeping hard impressed to strategy deliver again. very look our excited commitment XXXX efforts to date up forward dial continue and to I up to progress. these again and this this to team get very right make people The right and technology, to have on the upon and to our up the commercial have everyone in am

in example May. and the much be of it's drive GI next both exhibiting few In largest XXXX. April; and the in the call adoption launch awareness San AGA Tech months, commitment Summit because DDW, visibility terms of in your of the lean ask San Diego just the market at and market I open in our EVS Francisco our to will the this in broader in I'll to questions. world this over conference believe Pure-Vu operator into mentioned the now another I to the we

Your go Instructions] [Operator ahead. comes Please with Oppenheimer. from Steven first question Lichtman

guys. hi you, Thank

Steve. Hi

about the talk if you wondering I'm could backlog.

talked it? about size to out momentum you what - Can perspective is on centers talk of any like? You indicated a trying closing what in you is of Just - that backlog the being a looks sense us on building give get EVS. the backlog dozen with about How there?

between accounts. been and for XX quarter the we've know, fully you qualified pipeline have qualifying question. the since, And I Steve. adding well Sure, of third on as now, I the would XX end targets of working that as, more salespeople. Thanks right our say, say as anywhere salespeople very comfortably to would our each

So the we're in in XX hospital targets that's working range to of aggregate, with. XX that

further. that define me Let little bit a

process. already understand scheduling to means converted value And to qualified cases, champion committee or quotation In we have and start to fully some So their in them a a we've GI most in EVS get process. we new - already, pricing analysis system. the evaluation cases, that submitted we are

has job accounts team making a there. and nice sure Steve But that time, prioritizing right accounts to to certainly revenue, item. from like, over working we'll that's the to we'll gating continue that's grow So key And what but quickly move pipeline we're for now, plenty work done to can with a that that that's very through looks build now. the those expect and

Tim. thanks Great and

And strategy, trial? the would you when payers you the be you that believe the to only do be that On will data expect that to trial needed start discussed outpatient by - do ultimately? that

the to-date, And variety we've CMS were insurers was last things year. the track methods, Steve, being that a fast we now been of generated you which feedback on of stated for some different that with data it's the engaged their was, had of with hundreds and used They of more with of so efficacy pleased programs Pure-Vu, hard have with asking of good one safety shows taking engagement us endpoint. and Yes, kind and to some through really profile know been patients. we've clearly while the the that they're

a but do actually that pristine So, we clinical for does and outcomes. economic the what visualization to both physician provide at level, connect that and

an already Mark design. little study, So design ask guidance our think, of getting if the optimal of the hopefully it around I to in you, more and the for as data have the things ensure we we're to just it you why little we've should inputs bit study Board us of to Mark, generated, that doing this initiate. bit that with I the provide kind and we're I'll understanding, that color Steve, pass to don't expand maybe type maybe right we a reimbursement. the put from key But and color position gain the that and goal. terms is apply Steve new we couple can along to the Advisory some that other of that on in you more But study as a work

Sure, hi Steve.

we've even their got are guide the help really sure us going that and and to, the means that guidelines meeting trial alluded of from on we're designing with a to some visualization also make needs. CMS, around to we're some KOLs that as and clinical involved folks the be in prep So that working colonoscopy in rock so it what on Tim to actually trial the perspective folks writing sit the world, the top is interactively We're designing. of

the their with we this and move together with design sure all to then right make that input. forward we trial putting As

addition part a with investigator-initiated towards activity contracting, happening anticipation cetera. would create final to studies of latter also then in all this we anticipate and to additional the as other et IRB year and the through get the more we is And the trial and ecosystem in work initiated do Now of broader work. studies submissions that, in this trials that, we

coming then, the will to about, talked EU out, study this that's support outpatient which some also of new is working and supportive we as with be societies As as activity study even an GI well. the help well

not we forward. that only support study, activity but the we push great network this So, sort the need of really to create

Mark. thanks Great,

if Steve, just additional can And comment there. one I add

word separate They Well, case, case. they at they is the would scope room, that well a before minute, brand-new the in a cases. the on with the in patient on EVS company. that the clearly complete comments and time, procedures for will sleeve ability what this around out, to do with they're patients second believe take But the onto their load because in now that's scope, obviously, design and onto in I a that have a hospitals prepared said is I don't and case the how past they're reusable So our important them the a opens growth as the investment for would outpatient. go the we're prep of load And get which But outpatient bring with physician can new were in business and the million device finding outpatient that remarks. will then was now, they'll very scheduled. already in loading scope clean oftentimes anticipating. - opportunity the Whereas, our And and with nice the The getting to some critical we Pure-Vu an up that important U.S., more of be start it in. behold, to of to us the have the the in they sleeve sleeve they back lose hospital-based one associated on dirty the than not outpatient, for said, start out lo examine nearly We're catalyst generation, able start procedures. in It put did now sight take less and roughly as couple that scope want is, of we add is a those. is our the to drive that for fixture the an X years. a table missing that

outpatient with the believe of procedures few change we've made EVS a we design So that the will early kind centers. open hospital at just some up

great... Well

[indiscernible].

thanks. Yes,

the screened. prepared remarks years for pandemic be there is, the in a says screened, Tim a backlog getting people that and literature could thing the as not and some people of and of much because to it his alluded of three is of getting it One backlog

more to appropriately it's come cleaned early physician And the So isn't to weren't back kind comfortable successful they appropriate is have colonoscopy XX years require. have they period important their not would because and only wait for of under for first - five normally an folks one. to that cleaned to surveillance

So, we to that's nice as well. add think to going tailwinds some us

jump Thanks it Great, thank will you I lot. queue. guys, a there back in and leave I'll

Thanks Steve.

Next question is Jeffrey Cohen with Ladenburg Thalmann.

Hi Tim, Andrew and you. Mark how are

Jeff, how you? Hi are

a XX may the from for from Fine, questions system? discussed few you around, of firstly, many overlaps that sites EVS so the how be those previous

positioned probably Yes, half purchased so number, - either to were question, want early and it's first under a had new immediately, great of in existing we've we revenue obviously, EVS. customers also dozen them the cases get using I say able But were the I equipment don't this we're or are that exact but would accounts some in Jeff. start now, to program to to approaching type mix. upgraded get which that will drive

I say a on pretty our getting revenue, blend, board new deals but accounts disposable as existing it's generating good So would done well. getting

that's many may involved? how trial can you patients planning how you're centers a give that it for outpatient conducting, sense clinical helpful. And the be us Got of on and many

some board and on - on Mark, ready to you touch we're their be know don't input. with as taking to said, clinical I advisory just great. just that maybe on would general working hard kind estimates study point Mark we're want that. - the that give our We're points of high-level if actively Sure,

are being the study, are sure help in at really doing statistics. Yes, the sure we make we so perspective. so from do for no also Jeff it's the population. for a just the a to because large number outcome and cross to you fairly across make there's that we the did CMS to one drive And we of on sure obviously, looking really demographics anticipate, make something That powered that broadly that that And to well, things show the trial question highly generalizable want want we the we significant is are of the solution centers. to section sure as going study we centers, cover applied country in look make a that's look is, at to

So to it's centers, need that rural of CMS. really sure intercity centers, needs community to make centers going meet we the

a obviously, that, be in just So doing large trial. fairly it will

Andrew expense about probably it. sales beyond, to marketing as XXXX talked and and for lastly, six. as Got increasing then And far sales the you the force I for then there think from

a our think million, activity? $X that or $X are million $X.X towards more or million XXXX $X up creep in Does is I million, that models million $X XXXX. for XXXX of

grow of But of the higher be Yes, other XX% hi I'll on and, with specific not flatter. of of than, course I ballpark level expenses looking numbers. side that it guidance in exact It first somewhere some to being of on going the general XX% a we're operating a is than we the to in in to the will think jump I in. It's I commercial would was ballpark, quarter increase say, XXXX - will across But that. year things on of don't the grow our the at give overall, towards the board our it more slant XXXX. areas think over obviously, expenses.

Okay perfect. some and you how as as in And hopefully more one any I as there far previous if thoughts out XXXX, in being modeled volumes? change they're can, margins increase

as take Andrew, that you can well?

talked that as we be as past we've EVS margins well. sure. the so the product general higher. haven't are Yes, Yes, expected But publicly to in guidance we our on in specific give don't again,

in some Our cases, cost will pricing of likely goods is constant reducing. fact, and We're hold able in tick value-based our to up.

anticipate get additional that equation And out put be benefit increase to And we really, comparing the margin together, in grow do we certainly, over higher. as as Gen when continue that we'll so, time. And the to you margins will X EVS the on gate, volume, of then will well.

Perfect, our taking thanks for questions.

Thanks Jeff.

Next question, Matt O'Brien Sandler. with Piper

Hi Drew questions. taking for is thank Matt you for guys, and this on the

Drew. Hi

a question. those long chance new have of first then to follow-up. XX do And us in you those had where many been accounts, the in to front how how I of just remind the Those the can many just have on past? you so Pure-Vu accounts just product I do to EVS past want want them in process seen have get the you how to the follow-up successful? has And far? accounts taken Hey, to in XX answer evaluation

me bit, unpack let little Drew. that Sure, a

already a So with, points had customers. the million of touch is customers $XX new lot a we've that of are customers existing $XX to million and that blend then Pure-Vu accounts some of

come places seen already obviously, waiting evaluations going done a So the enhancements and we've product the of we're heavy of were next-generation that the terms they lifting in back they've or for lot to touch it's probably out. it, XX don't call XX I so low-hanging we've that they're there. would to between, or fruit to accounts know point I some in had Those are say with.

months touch we've are, that in sales a other accounts The last the with, points the we've of added as call couple had it, to team.

So to space companies. of you as minimum, say, these we're typically a in XX GI eight have, larger most them medical experience at device as from in recall, reps, would I years of hiring the much

Has relationships getting to XX meeting have. process. engaged, for quickly physicians and and joined they kind back able call those go just So because they're folks them leverage getting even with accounts our moved relationships, ago, and of that relatively and coming with staff who hospital of so they're days kind into

accounts and associated - so was it as if starting with year, evaluations the were There timing, many look very to with last issues what difficult kind due at saw of In we access an example. terms stopping you being and with and the distracted. COVID of macro

world, it good look normal what will really start to finish. in from So it's a to sense hard of, get like a

or the lot reason kind months. saying we're with loaded the making new something it and and staff generation EVS, didn't it, and this. were with connected got wouldn't between, account get or three six set correctly. believe they really device and - are either the Innovation about And and understand to and the we we a is them not it weeks I But sure that with that talked and going So, up somewhere is up on right. an servicing want of super say I get would because Day, second quickly. obviously, the the into training that device more used how time exactly the to finding that do. its to handholding simple, something shared education running we're understood believe workstation tech And with I all call more in in I that only and of required EVS, move X.X if with to the every things enhancements about connect What they you

one minute in make couple this able something to and less, you So loaded procedure. or connections, you've a you're that can do got of sleeve is the to

months, we're based the several So a what to last from translate on to we're that of on also learning thinking going much that's is, And shorter evaluations. kind I think kind putting endpoint and also of evaluation. defined

So, we're not our making going without for months account product six a to to use let decision purchase. an

be the run an how long kind So decision to hard some of we'll made. evaluation lines have can on purchase to needs more

our So, I we it. answer in it's say on I cycle. informed we have under call, and give looking more to get of can shorten But like a sales quarterly belt, think terms next what full probably quarter we'll a would much we'll when

that an yes, second on agreement. I for purchase that. super guess thanks maybe minimum Okay sleeve And just - helpful question. update was just the

couple or signed year over last of the those so. You a

out update rolling maybe as how will well? So structured in those accounts an on And that agreements? to are tracking relative light EVS just just how be those of

question. good Yes,

we've a a purchase over program. a already in lease - cases, transitioned few customers or to actually So those

won't one the quarterly moved compliance each of to lease. end at quarter. the year a I get name. their quarters, But four that ran over XX-month to they of through accounts the So They accounts all met by specific

now commitments. they're procedure EVS volume plan. us see or see selling So to now in to continues have actually view think it for off than do a on capital more they're to you'll capital trading do improved has of monthly minimum like I'd that, more of our I is I lease. return shorter-term kind leasing before. commitment the When opposed as agreements. of a types that volume now we probably is level those their The capital what at - news less of Drew, seen think we with good paying

capital out before that So, available becomes their we'll set our plays to the we'll do of the quarters, have make of but that's see it over number just the couple how months to for And next purchase. thinking.

Very helpful, you. thank

you. Thank

H.C. Yi Chen Next question Wainwright. with is

Boobalan is this Hi, dialing me okay? in Chen. for hear Can you Yi

Yes, we can hear you great.

All EVS right lot from our awesome, of end. attractive Obviously, is so features. a couple Pure-Vu of questions the

versus the lease? pricing Pure-Vu of terms of capital Just curious, EVS terms can in discuss you

The the question, that price in is market, the Boobalan? point

the Yes, that's yes. can you. hear one, I Yes,

range was bit. was as anticipate previous capital a price the disposable that disposable took from capital ASP you price perspective. being list to $XX,XXX. system know, That so in on took Yes, cost [ph]. same sleeve our $XX,XXX. the the We and up perspective, from just up an sleeves We small pricing was the the a $X.XX We

off drive I greater the just to as more across expected around price. U.S., really be volume it's That's of think there customers anticipation with discounting $X,XXX. will we the list

room gave bit user little same hold price the points. end So of kind of a to

Okay, that's comments can of outlook provide business XXXX year? like very this for helpful. sort some items you high-level and accomplish of to your on And the you would

mean, I long haul. but a it's I in been yes. said as remarks, prepared the Sure,

market talented as difficult, innovative change but what back Everyone GI knows, of couple with want and new and particularly down path. that that trying technology, our As company and an build top we're relationships, don't device. Israel investors Motus the of truly And of new across very our know to believe last in XX of a to new incorporate and the the really with center a listened for we've physicians company. and teams facilities for this top company were given those That inflection and of the space believe, and of that, growth I very have months. have just country then our a are years the right. our we've at engineering the commercial GI an impacts able emerging market everyone, has not COVID, last the us you're difficult. out We kind the R&D - We into for those team, that's small go innovation small understands you're in team And the have minds been when point the at for to some tremendous feedback over hearts the We've built customers. to kind been that been. a despite hurdles,

believe kind if adopted, and of time point iterations get some, it broadly eventually it about we to takes takes an So, from sometimes technology it inflection at a technology other think you to get the perspective. we're there. And

very we're confident So feeling the are where we with about tech.

So that's one.

because see And can this over was still doubled time, drive and happening kind We're right if you is, And from a people reps upcoming can to knowing quarter. us the revenue other as at talked business time is we've business But of do of XX, - a of a running the keeping last a I've about build. possible, uptake can couple environment. we made as decisions expect now The lean much see We lean every math team that more by perspective, this the force. the these new a meaningful small few start I'd bigger macro in that's the I of hire and as very to what type before. one start the to years It's with team. number. over and the to XX even in folks six. XX, the said, the accounts go

our as the priority to our So Execution key execution. getting with a - getting right number customers through so one sales a commercial accounts running, quickly execution cycle having up is it That's relates Boobalan. engagement and priority experience. great now,

to next over we in The a investment years is, the quite the clinical hospital thing on nice the we doing bit in and couple of call so. business talked can second about build market, need this very a execute activities. We

that of There's, However, the the outpatient we're we reimbursement each this that million size X Pure-Vu Everyone the be times positioned now procedures hospital. year. that knows the size a million, believe making and catalyst earlier, to get their patient tremendous can for help if in calling company of said physicians. to U.S. investments and are perfectly for population three for as market. And the market. that's qualified the in I We large on really the we're can outpatient XX help today them

work excited really So the doing. we're for

we at the geography the But through types due we otherwise partner say where resources. opportunities we're meantime, reimbursement mentioned execute position we're for on talented that As know the terms is help we shareholder XXXX I things. and the also Folks enter, off to I a And opportunities, continue and well comes industry, significant look drive us we future. Clinical consider in a becomes of person very in doing. in plans, opportunity this outside accelerate we Vice we'll And this U.S. of program can to build hired the that last the to will to those in what market an then of relationships that. I'll going clinical that's a with there looking wouldn't President a potentially in and us thing And the said, relationships. that right at way Affairs Mark. to we're partnership enter our If what up in today get help those value will take

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really Yes, my That’s questions. for helpful. taking thanks

Great, for the thank you question.

turn Tim I call will now closing the for over to remarks.

joining I you thank today. want thank everybody just call for our Great, operator. to

larger enthusiasm our comments, EVS forward do we're updating excitement in it on can the call new and next And team. what Pure-Vu look May. And to and everyone about with You our our XXXX. to hear in we'll hopefully able our quarterly

joining thank call. very the much for you So

teleconference. today's concludes This

your participation. at your disconnect lines thank for and may You you this time