Financial Information

Revenue of $12.1 million, which is in-line with our February 2024 guidance.

Gross margin of 59.0%, a decrease of 190 bps, as compared to Q1’2023, due primarily to higher manufacturing costs and an increase in inventory scrap.

Operating expenses of $18.1 million, an increase of 11%, as compared to Q1’2023, due primarily to increased investments within sales and marketing and Executive transition costs.

Cash and investments of $129.5 million, which include cash, cash equivalents, and short- and long-term investments.