Vicarious Surgical Reports Fourth Quarter and Full Year 2025 Financial Results
MWN-AI** Summary
Vicarious Surgical Inc. (OTCID: RBOT) recently released its financial results for the fourth quarter and full year ended December 31, 2025. The company, which focuses on next-generation robotic surgery technologies, reported total operating expenses of $9.3 million for Q4 2025, a significant decrease of 38% compared to $15 million in Q4 2024. Notable reductions in spending were seen across various categories, with research and development expenses at $7.1 million (down 16%), general and administrative expenses reduced to $2.6 million (a 53% decrease), and sales and marketing expenses plummeting to $0.4 million (a 56% drop).
The GAAP net loss for Q4 2025 was $10.5 million, reflecting an improvement from the $13.9 million loss in the prior year. On a per-share basis, the net loss was $1.57, compared to $2.36 in Q4 2024. Similarly, non-GAAP adjusted net loss for Q4 2025 was $11.1 million, with an adjusted loss per share of $1.65.
For the full year 2025, total operating expenses amounted to $50 million, down 25% from $66.6 million in 2024. GAAP net loss for the year was $50.2 million, improving from a loss of $63.2 million in 2024, with a per-share net loss of $8.19, an improvement over the previous year's $10.74 loss. As of December 31, 2025, Vicarious Surgical had $9.8 million in cash and investments and reported a cash burn rate of $45.1 million, lower than their original guidance of approximately $50 million for the year. Looking ahead, the company anticipates a cash burn of roughly $19 million for the full year 2026. Overall, Vicarious Surgical demonstrated a commitment to financial prudence while navigating the development of its innovative surgical technologies.
MWN-AI** Analysis
Vicarious Surgical Inc. (OTCID: RBOT) reported its fourth quarter and full year 2025 financial results, showcasing significant operational improvements and robust cost management that warrant attention from investors. A notable 38% reduction in operating expenses for Q4 2025 to $9.3 million, down from $15.0 million in Q4 2024, highlights the company's strategic focus on efficiency. This trend continued throughout the year, with full-year operating expenses decreasing by 25% to $50.0 million, from $66.6 million in 2024. Such cost reductions are critical as the company navigates its path towards profitability.
The decrease in research and development, as well as general and administrative expenses, suggests Vicarious Surgical is effectively balancing innovation with fiscal responsibility. The $10.5 million GAAP net loss in Q4 2025, while still substantial, reflected an improvement from the $13.9 million loss in the prior year. This downward trend in losses is indicative of a potentially stabilizing business model which, if sustained, could lead to investor confidence in the firm’s long-term prospects.
Furthermore, the projected cash burn rate for 2026 at approximately $19 million signifies a marked improvement, allowing for a better runway as the company continues to refine its surgical robotics technology. However, investors should remain cautious about the remaining cash and investments of $9.8 million as of December 31, 2025, which implies a tight financial situation if revenues do not ramp up in the upcoming quarters.
Given the current landscape, investors should closely monitor Vicarious Surgical's progress in achieving regulatory approvals and commercializing its surgical systems. The promising technology, backed by prestigious investors, positions the company well in a transformative industry, but prudent attention to its financial health and operational milestones will be key in determining its stock performance in 2026.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Vicarious Surgical Inc. (“Vicarious Surgical” or the “Company”) (OTCID: RBOT), a next-generation robotics technology company seeking to improve lives by transforming robotic surgery, today announced financial results for the fourth quarter and full year ended December 31, 2025.
Fourth Quarter 2025 Financial Results
- Total operating expenses were $9.3 million in the fourth quarter of 2025, and $15.0 million in the fourth quarter of 2024, a decrease of 38%.
- Research and development expenses in the fourth quarter of 2025 were $7.1 million, compared to $8.5 million in the fourth quarter of 2024, a decrease of 16%.
- General and administrative expenses in the fourth quarter of 2025 were $2.6 million, compared to $5.5 million in the fourth quarter of 2024, a decrease of 53%.
- Sales and marketing expenses in the fourth quarter of 2025 were $0.4 million, compared to $1.0 million in the fourth quarter of 2024, a decrease of 56%.
- GAAP net loss in the fourth quarter of 2025 was $10.5 million, or GAAP net loss per share of $1.57. This compares to GAAP net loss in the fourth quarter of 2024 of $13.9 million, or GAAP net loss per share of $2.36. Non-GAAP adjusted net loss in the fourth quarter of 2025 was $11.1 million, or adjusted net loss per share of $1.65. This compares to non-GAAP adjusted net loss in the fourth quarter of 2024 of $14.4 million, or adjusted net loss per share of $2.43.
Full Year 2025 Financial Results
- Total operating expenses were $50.0 million in the full year 2025 compared to $66.6 million in the full year 2024, a decrease of 25%.
- Research and development expenses in the full year 2025 were $33.6 million, compared to $40.2 million in the full year 2024, a decrease of 16%.
- General and administrative expenses in the full year 2025 were $15.2 million, compared to $21.9 million in the full year 2024, a decrease of 31%.
- Sales and marketing expenses in the full year 2025 were $2.2 million, compared to $4.5 million in the full year 2024, a decrease of 52%.
- GAAP net loss in the full year 2025 was $50.2 million, or GAAP net loss per share of $8.19. This compares to GAAP net loss in the full year 2024 of $63.2 million, or GAAP net loss per share of $10.74. Non-GAAP adjusted net loss in the full year 2025 was $51.0 million, or adjusted net loss per share of $8.31. This compares to non-GAAP adjusted net loss in the full year 2024 of $63.3 million, or adjusted net loss per share of $10.75.
- The Company had $9.8 million of cash and investments as of December 31, 2025. The Company’s cash burn rate for the full year 2025 was $45.1 million, below the initial full year 2025 guidance of approximately $50 million.
Updated Full Year 2026 Cash Burn Guidance
- Vicarious Surgical currently expects full year 2026 cash burn of approximately $19 million.
About Vicarious Surgical
Founded in 2014, Vicarious Surgical is a next-generation surgical robotics company, developing a unique disruptive technology with the multiple goals of substantially increasing the efficiency of surgical procedures, improving patient outcomes, and reducing healthcare costs. The Company’s novel surgical approach uses proprietary human-like surgical robots to virtually transport surgeons inside the patient to perform minimally invasive surgery. The Company is led by an experienced team of technologists, medical device professionals and physicians, and has received backing by technology luminaries including Bill Gates, Vinod Khosla’s Khosla Ventures, Innovation Endeavors, Jerry Yang’s AME Cloud Ventures, Sun Hung Kai & Co. Ltd and Philip Liang’s E15 VC. The Company is headquartered in Waltham, Massachusetts. Learn more at www.vicarioussurgical.com .
In accordance with guidance provided by the SEC regarding use by a company of its websites and social media channels as a means to disclose material information to investors and to comply with its disclosure obligations under Regulation FD, the Company hereby notifies investors, the media and other interested parties that it intends to continue to use its investor relations website ( https://investor.vicarioussurgical.com/ ), its LinkedIn page ( https://linkedin.com/company/vicarious-surgical/ ) and its X feed (@VicariousSurg) to publish important information about the Company, including information that may be deemed material to investors. The list of social media channels that the Company uses may be updated on its investor relations website from time to time. The Company encourages investors, the media, and other interested parties to review the information the Company posts on its website and social media channels as described above, in addition to information announced by the Company through its SEC filings, press releases and public conference calls and webcasts.
Use of Non-GAAP Financial Measures
In addition to providing financial measurements that have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), Vicarious Surgical provides additional financial metrics that are not prepared in accordance with U.S. GAAP (“non-GAAP”). The non-GAAP financial measures included in this press release are Adjusted Net Loss and Adjusted Net Loss Per Share (“Adjusted EPS”, and together with Adjusted Net Loss, “Non-GAAP Financial Measures”). The Company presents Non-GAAP Financial Measures in order to assist readers of its consolidated financial statements in understanding the core operating results that its management uses to evaluate the business and for financial planning purposes. Vicarious Surgical’s Non-GAAP financial measures provide an additional tool for investors to use in comparing its financial performance over multiple periods.
Adjusted Net Loss and Adjusted EPS are key performance measures that Vicarious Surgical’s management uses to assess its operating performance. These Non-GAAP Financial Measures facilitate internal comparisons of Vicarious Surgical’s operating performance on a more consistent basis. Vicarious Surgical uses these performance measures for business planning purposes and forecasting. Vicarious Surgical believes that the Non-GAAP Financial Measures enhance an investor’s understanding of Vicarious Surgical’s financial performance as it is useful in assessing its operating performance from period-to-period by excluding certain items that Vicarious Surgical believes are not representative of its core business.
The Non-GAAP Financials Measures may not be comparable to similarly titled measures of other companies because they may not calculate this measure in the same manner. Adjusted Net Loss and Adjusted EPS are not prepared in accordance with U.S. GAAP and should not be considered in isolation of, or as an alternative to, measures prepared in accordance with U.S. GAAP. When evaluating Vicarious Surgical’s performance, you should consider the Non-GAAP Financial Measures alongside other financial performance measures prepared in accordance with U.S. GAAP, including net loss.
The Non-GAAP Financial Measures do not replace the presentation of Vicarious Surgical’s U.S. GAAP financial results and should only be used as a supplement to, not as a substitute for, Vicarious Surgical’s financial results presented in accordance with U.S. GAAP. In this press release, Vicarious Surgical has provided a reconciliation of Adjusted Net Loss to net loss, the most directly comparable U.S. GAAP financial measure, and the calculation for Adjusted EPS.
VICARIOUS SURGICAL INC. | ||||||||||||||||
RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | ||||||||||||||||
(in thousands, except share and per share data) | ||||||||||||||||
Adjusted net loss and Adjusted EPS | ||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Net loss | $ | (10,515 | ) | $ | (13,926 | ) | $ | (50,182 | ) | $ | (63,223 | ) | ||||
Change in fair value of warrant liabilities | 553 | 458 | 787 | 43 | ||||||||||||
Adjusted net loss | (11,068 | ) | (14,384 | ) | (50,969 | ) | (63,266 | ) | ||||||||
Adjusted EPS, basic and diluted | $ | (1.65 | ) | $ | (2.43 | ) | $ | (8.31 | ) | $ | (10.75 | ) | ||||
Weighted average shares, basic and diluted | 6,698,949 | 5,912,283 | 6,130,652 | 5,885,589 |
Forward-Looking Statements
This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. The Company’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. All statements other than statements of historical facts contained herein, including without limitation, statements regarding expectations for cash burn during 2026 and the potential for the Company’s technology to improve patient outcomes, are forward-looking statements that reflect the current beliefs and expectations of management. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside the Company’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the effects of the delisting process for the Company’s Class A common stock on the New York Stock Exchange and the transfer of the Class A common stock to quotation on the OTC markets; the approval, commercialization and adoption of the Company’s initial product candidates and the success of its single-port surgical robot, called the Vicarious Surgical System, and any of its future product candidates and service offerings; changes in applicable laws or regulations; the ability of the Company to raise financing in the future; the success, cost and timing of the Company’s product and service development activities; the potential attributes and benefits of the Company’s product candidates and services; the Company’s ability to obtain and maintain regulatory approval for the Vicarious Surgical System, and any related restrictions and limitations of any approved product; the size and duration of human clinical trials for the Vicarious Surgical System; the Company’s ability to identify, in-license or acquire additional technology; the Company’s ability to maintain its existing license, manufacture, supply and distribution agreements; the Company’s ability to compete with other companies currently marketing or engaged in the development of products and services that the Company is currently marketing or developing; the size and growth potential of the markets for the Company’s product candidates and services, and its ability to serve those markets, either alone or in partnership with others; the pricing of the Company’s product candidates and services and reimbursement for medical procedures conducted using its product candidates and services; the company’s estimates regarding expenses, revenue, capital requirements and needs for additional financing; the Company’s financial performance; economic downturns, political and market conditions and their potential to adversely affect the Company’s business, financial condition and results of operations; the Company’s intellectual property rights and its ability to protect or enforce those rights, and the impact on its business, results and financial condition if it is unsuccessful in doing so; and other risks and uncertainties indicated from time to time in the Company’s filings with the SEC. The Company cautions that the foregoing list of factors is not exclusive. The Company cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. The Company does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based.
VICARIOUS SURGICAL INC. | ||||||||||||||||
CONSOLIDATED STATEMENTS OF OPERATIONS | ||||||||||||||||
(in thousands, except share and per share data) | ||||||||||||||||
Three Months Ended | Twelve Months Ended | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
Operating expenses: | ||||||||||||||||
Research and development | $ | 7,143 | $ | 8,463 | $ | 33,601 | $ | 40,155 | ||||||||
Sales and marketing | 431 | 979 | 2,171 | 4,525 | ||||||||||||
General and administrative | 2,625 | 5,536 | 15,196 | 21,875 | ||||||||||||
Gain on lease modification, net | (941 | ) | — | (941 | ) | — | ||||||||||
Total operating expenses | 9,258 | 14,978 | 50,027 | 66,555 | ||||||||||||
Loss from operations | (9,258 | ) | (14,978 | ) | (50,027 | ) | (66,555 | ) | ||||||||
Other (expense) income, net: | ||||||||||||||||
Loss on disposal of leasehold improvements | (1,915 | ) | — | (1,915 | ) | — | ||||||||||
Change in fair value of warrant liabilities | 553 | 458 | 787 | 43 | ||||||||||||
Interest and other income, net | 105 | 594 | 973 | 3,289 | ||||||||||||
Total other (expense) income, net | (1,257 | ) | 1,052 | (155 | ) | 3,332 | ||||||||||
Net loss | $ | (10,515 | ) | $ | (13,926 | ) | $ | (50,182 | ) | $ | (63,223 | ) | ||||
Net loss per share of Class A and Class B common stock, basic and diluted | $ | (1.57 | ) | $ | (2.36 | ) | $ | (8.19 | ) | $ | (10.74 | ) | ||||
Weighted average shares, diluted | 6,698,949 | 5,912,283 | 6,130,652 | 5,885,589 | ||||||||||||
Other comprehensive (loss) income: | ||||||||||||||||
Net unrealized (loss) income on investments | (4 | ) | (74 | ) | (46 | ) | 40 | |||||||||
Other comprehensive (loss) income | (4 | ) | (74 | ) | (46 | ) | 40 | |||||||||
Comprehensive net loss | $ | (10,519 | ) | $ | (14,000 | ) | $ | (50,288 | ) | $ | (63,183 | ) |
VICARIOUS SURGICAL INC. | ||||||||
CONSOLIDATED BALANCE SHEETS | ||||||||
(in thousands, except share and per share data) | ||||||||
December 31, | December 31, | |||||||
2025 | 2024 | |||||||
Assets | ||||||||
Current assets: | ||||||||
Cash and cash equivalents | $ | 2,569 | $ | 9,737 | ||||
Short-term investments | 7,223 | 39,360 | ||||||
Prepaid expenses and other current assets | 1,792 | 2,601 | ||||||
Total current assets | 11,584 | 51,698 | ||||||
Restricted cash | 936 | 936 | ||||||
Property and equipment, net | 1,268 | 4,476 | ||||||
Right-of-use assets | 5,764 | 10,560 | ||||||
Other long-term assets | 29 | 49 | ||||||
Total assets | $ | 19,581 | $ | 67,719 | ||||
Liabilities and Stockholders’ Equity | ||||||||
Current liabilities: | ||||||||
Accounts payable | $ | 894 | $ | 1,166 | ||||
Accrued expenses | 1,056 | 5,283 | ||||||
Notes payable | 525 | — | ||||||
Lease liabilities, current portion | 1,429 | 1,218 | ||||||
Total current liabilities | 3,904 | 7,667 | ||||||
Lease liabilities, net of current portion | 5,836 | 12,567 | ||||||
Warrant liabilities | — | 787 | ||||||
Total liabilities | 9,740 | 21,021 | ||||||
Stockholders’ equity: | ||||||||
Class A Common Stock | 15 | 15 | ||||||
Class B Common Stock | 2 | 2 | ||||||
Additional paid-in capital | 255,937 | 242,566 | ||||||
Accumulated other comprehensive income | 4 | 50 | ||||||
Accumulated deficit | (246,117 | ) | (195,935 | ) | ||||
Total stockholders’ equity | 9,841 | 46,698 | ||||||
Total liabilities and stockholders’ equity | $ | 19,581 | $ | 67,719 |
View source version on businesswire.com: https://www.businesswire.com/news/home/20260306148650/en/
Investor Contact
ir@vicarioussurgical.com
Media Inquiries
media@vicarioussurgical.com
FAQ**
What specific steps is Vicarious Surgical Inc Com Cl A RBOT taking to reduce its cash burn rate from an estimated $50 million in 2025 to approximately $million in 2026, and how does this align with its long-term financial strategy?
Given the significant reduction in operating expenses for Vicarious Surgical Inc Com Cl A RBOT, how does the company plan to allocate the remaining funds in research and development to maintain innovation in robotic surgery technology?
With a GAAP net loss decreased from $63.2 million in 2024 to $50.2 million in 2025, what are Vicarious Surgical Inc Com Cl A RBOT's key performance indicators that management will focus on to drive further improvements in profitability and operational efficiency?
What implications does the market's reaction to Vicarious Surgical Inc Com Cl A RBOT's transition to the OTC markets have on investor confidence, particularly in light of the company's technology advancements and partnerships with notable investors?
**MWN-AI FAQ is based on asking OpenAI questions about Vicarious Surgical Inc Com Cl A (NYSE: RBOT).
NASDAQ: RBOT
RBOT Trading
0.75% G/L:
$2.025 Last:
29,298 Volume:
$1.99 Open:
