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Perimeter Medical Imaging AI Reports Third Quarter 2024 Financial Results and Provides Corporate Update
Perimeter Medical Imaging AI Reports Third Quarter 2024 Financial Results and Provides Corporate ...
About this update from Perimeter Medical Imaging Ai Inc
[{"type":"text","content":"\n\n\n\n\n Perimeter Medical Imaging AI Reports Third Quarter 2024 Financial Results and Provides Corporate Update\n \n\n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n\n\n\n\n\n Canada NewsWire\n \n\n\n\n\n\n Conference Call/Webcast Today at\n \n 5 pm ET\n \n\n\n\n\n\n\n TORONTO\n \n and\n \n DALLAS\n \n\n ,\n \n\n Nov. 14, 2024\n \n\n /CNW/ - Perimeter Medical Imaging AI, Inc. (TSXV: PINK) (OTC: PYNKF) (\"Perimeter\" or the \"Company\"), a commercial-stage medical technology company, today reported financial results for its third quarter ended\n \n September 30, 2024\n \n and provided a corporate update.\n \n\n\n\n\n\n\n\n\n\n\n Business Highlights\n \n\n\n\n\n The Company continues to gain positive commercial market traction with its first U.S. Food and Drug Administration (\"FDA\")-cleared product, Perimeter S-Series OCT. It has already achieved eight (8) new S-Series OCT system placements year-to-date, compared to a total of three (3) for all of 2023, and Q3-2024 revenues grew 142% over Q3-2023. In addition, the Company is advancing the development of its next-generation Perimeter B-Series OCT system, which combines proprietary AI technology with OCT, toward potential commercialization.\n \n\n In the 2024 third quarter, Perimeter also recognized revenue for the first time from its sale of service contracts. The Company has entered into three (3)-year Equipment Service Plan (\"ESP\") warranty programs with several S-Series OCT customers, which provide for annual preventative maintenance of the OCT equipment. The total value of ESP warranty programs will be recognized over their terms as services are rendered.\n \n\n In\n \n September 2024\n \n , Perimeter announced the first closing of its non-brokered private placement (the \"Offering\") where the Company issued 23,470,560 common shares for gross proceeds of approximately\n \n $9,857,635\n \n Canadian dollars. Subsequent to the end of the third quarter, Perimeter announced the second and final closing of the Offering where the company issued 4,846,501 common shares at a price of\n \n...