Vyome Holdings, Inc. Q2 FY2024 earnings call

• Laser-focused on stabilizing revenues and executing cost reduction plan, achieving ~45% lower operating expenses in first half of 2024 compared to last year.
• Commercial launch of LAP-Band 2.0 Flex in limited market release, with positive surgeon feedback and ongoing optimization.
• Coordinated merger agreement with Vyome Therapeutics and asset purchase agreement with Biorad, and successfully negotiated with Series C shareholders to lower liquidation preference.
• Discussed obesity market dynamics, noting GLP-1s have low long-term tolerability, suggesting increasing market opportunity for LAP-Band.
• Cost reductions allowed focus on commercialization of LAP-Band 2.0 FLEX, with patient-friendly website traffic and effective co-op marketing program.

For the three months ended June 30, 2024, revenue totaled $2 million, a reduction of $300,000 compared to the same period in 2023. For the six months ended June 30, 2024, revenue was $3.9 million, a reduction of $600,000 compared to the same period in 2023. Gross profit for the three months ended June 30, 2024, was $1.1 million, slightly below $1.2 million in 2023. Gross profit for the six months ended June 30, 2024, was $2.3 million, compared to $2.4 million in 2023. Gross profit margin improved, with the three-month margin at 58% (up from 53% in 2023) and six-month margin at 59% (up from 53% in 2023) due to cost reductions, particularly in overhead related costs.

• Anticipates merger with Vyome Therapeutics to create value for shareholders, with commitments for additional capital including a $7.3 million private placement in the combined company.
• Plans to deploy capital raised through private placement to unlock value in Vyome's immuno-inflammatory pipeline.
• Expects adequate liquidity to self-fund into the second half of 2025 based on cash flow projections.

• Actual results could differ materially from forward-looking statements due to known and unknown risks, uncertainties, and other factors described in SEC filings.
• Risks associated with completion of the merger with Vyome Therapeutics and asset purchase agreement with Biorad.
• Market uncertainties related to long-term tolerability of GLP-1s and their impact on the obesity market for ReShape's products.