Monogram Technologies Reports 2024 Financial Results

Monogram Technologies Inc., an AI-driven robotics company specializing in orthopedic surgery, has announced its financial results for 2024. The company's net loss stood at $16.3 million, an increase from the $13.7 million reported in 2023, influenced by the lack of a $3 million warrant liability benefit that year. Despite increased general and administrative expenses, research and development costs decreased by 17% to $8.8 million.

Monogram successfully completed supplemental testing for its mBôs™ Total Knee Arthroplasty System and responded to the FDA's Additional Information Request. The company closed a $13 million public offering and continues its strategic collaboration with Shalby Hospitals for clinical trials in India. Cash and cash equivalents increased to $15.7 million by the end of 2024, up from $13.6 million in 2023.

Monogram remains focused on obtaining FDA clearance to commercialize the mBôs™ TKA System in the U.S. and is eyeing international market expansion.