Perimeter Medical Imaging AI: Q4 2024 Financial Results and Corporate Update
Toronto, Canada and Dallas, Texas, March 26, 2025 – Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTCQX: PYNKF) (“Perimeter” or the “Company”), a leading commercial-stage medical technology company, recently reported its financial results for the fourth quarter and full year ended December 31, 2024. In this blog post, we’ll delve deeper into these results and provide a corporate update.
Financial Highlights
For the full year 2024, Perimeter reported total revenue of $11.2 million, a 128% increase compared to $4.9 million in 2023. The Company’s net loss for the year was $13.5 million, which represents a 27% decrease compared to $18.6 million in 2023. Perimeter’s adjusted EBITDA for the year was a loss of $12.3 million, a significant improvement from the loss of $16.8 million in 2023.
Product Development and Commercialization
During the fourth quarter of 2024, Perimeter announced the receipt of Health Canada clearance for its OTIS system, which is a handheld, multi-modality imaging system designed to provide real-time, image-guided intervention in the operating room. The Company also received CE Mark certification for the OTIS system in Europe. Perimeter plans to commercialize the OTIS system in the United States and Europe starting in the second quarter of 2025.
Impact on Individuals
The advancements made by Perimeter Medical Imaging AI could potentially lead to more accurate diagnoses and improved patient outcomes during surgical procedures. The OTIS system’s ability to provide real-time, image-guided intervention could enable surgeons to make more informed decisions during surgeries, resulting in fewer complications and shorter hospital stays. Moreover, the system’s multi-modality imaging capabilities could make surgeries less invasive, reducing recovery time and overall healthcare costs.
Impact on the World
The adoption of Perimeter’s OTIS system could revolutionize the way surgical procedures are performed, ultimately leading to a more efficient and cost-effective healthcare system. With its real-time imaging capabilities and potential for fewer complications, the OTIS system could lead to a significant reduction in the number of unnecessary re-admissions and surgeries. Furthermore, the system’s potential to make surgeries less invasive could lead to a decrease in the demand for expensive hospital stays and long-term care facilities.
Conclusion
Perimeter Medical Imaging AI’s financial results for the fourth quarter and full year ended December 31, 2024, demonstrate the Company’s progress in developing and commercializing its OTIS system. The receipt of Health Canada clearance and CE Mark certification for the OTIS system marks a significant milestone for Perimeter, paving the way for its commercialization in the United States and Europe. The potential impact of the OTIS system on individuals, in terms of improved patient outcomes and shorter hospital stays, and on the world, in terms of a more efficient and cost-effective healthcare system, is immense.
- Perimeter Medical Imaging AI reports Q4 2024 financial results and corporate update
- Total revenue for 2024 was $11.2 million, a 128% increase from 2023
- Net loss for the year was $13.5 million, a 27% decrease from 2023
- Adjusted EBITDA loss for the year was $12.3 million, an improvement from 2023
- Health Canada clearance and CE Mark certification received for OTIS system
- Commercialization of OTIS system in the United States and Europe starting in Q2 2025
- Potential for improved patient outcomes and shorter hospital stays
- Potential for a more efficient and cost-effective healthcare system
