Movano, Inc. Q2 FY2024 earnings call

Key Points

• John Mastrototaro mentioned preparing for expansion of direct-to-consumer launch of Evie Ring starting September 17, working with FDA for EV Med 510(k) clearance, delivering B2B commercial opportunities, and preparing for blood pressure and glucose clinical trials.
• Tyla Bucher discussed D2C plans for Evie Ring, including improvements in operations (production yields, logistics), software (updated algorithms, expanded AI insights engine, auto activity detect workout feature, Android app), customer service enhancements, and upcoming launch on September 17 with marketing campaigns.
• John Mastrototaro also highlighted product development beyond Evie and Evie Med, including multi-analyte sensing and clinical trials for additional metrics.
• Michael Leabman, Michael Soule, etc., provided details on algorithm improvements, B2B engagement progress, and learnings from blood pressure clinical studies.

No specific financial performance by product segment detailed with absolute terms and revenue contribution % as the transcript does not break down financials by distinct product segments.

Forward-Looking Statements

• Plan to begin taking orders and shipping Evie Ring again on September 17.
• Working towards FDA 510(k) clearance for EV Med and preparing B2B operations in anticipation of clearance.
• Preparing back-end operations to meet partners' requirements for B2B partnerships.

Risks

• Inherent risks in forward-looking statements as actual results may differ.
• Uncertainties related to FDA clearance for EV Med.
• Market adoption risks for D2C and B2B products.

Q: With the new Evie that's going to launch with the auto activity detect features, is that the same thing as the new heart rate and motion algo that you just developed?

A: Michael Leabman responded that the heart rate algorithm is based on deep learning for accuracy, and auto activity is to identify activities and collect data even if not manually started, with both combining for better workout results.

Q: Moving over to the business-to-business side. With the provider organization where you've got an engagement, can you maybe go into a little bit more detail about that as to the depth of the engagement?

A: Michael Soule stated they are engaged with various channels including providers, payers, and remote patient monitoring, working through beta testing and initial agreement conversations.

Q: Any changes on the mid-August date for meeting with the FDA?

A: John Mastrototaro stated no changes, mentioned strong regulatory team and communication with FDA, optimistic about resolving issues and gaining clearance.

Q: What did you learn in your most recent blood pressure clinical study?

A: Michael Leabman said they concluded the study in June using arterial line for continuous data, which helped fine-tune the device including new antennas and smaller form factor, with next study planned for November.

Q: Is Movano planning to expand its marketing to target beyond women?

A: John Mastrototaro stated opportunities are for anyone, not exclusive to women, and Tyla Bucher echoed that Evie Ring is for all genders but had a female focus initially due to identified opportunity among women prioritizing their health.