WALTHAM, Mass., March 9, 2026-(BUSINESS WIRE)- 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.
