「Monogram Orthopaedics」Monogra

Monogram Orthopaedics基本情况

Company Overview

Monogram Orthopaedics (MGRM) is a robotics and AI-driven medical technology company focused on improving orthopedic surgery through personalized implant solutions. Founded in 2015 and headquartered in Austin, Texas, the company went public on May 19, 2023, with an IPO price of $7.25. Monogram specializes in 3D printing, advanced machine vision, AI, and robotics to develop patient-specific orthopedic implants and robotic surgical systems like the mBos precision robotics platform174.

The company is led by CEO Benjamin Sexson and has a small team of 27 employees. Monogram’s innovative approach aims to revolutionize joint replacement surgeries by integrating precision robotics with advanced imaging and navigation tools174.

Shareholder and Equity Analysis

As of March 2025, Monogram’s total equity stands at 35.28 million shares, with fluctuations in common stock due to conversions of preferred stock and cashless warrant exercises. The company has issued Class D Preferred Stock, which has been converted to common stock in certain periods14.

Monogram’s market capitalization is approximately $79.26 million, with a float of 24.64 million shares. The equity structure reflects ongoing adjustments to support growth and operational needs21.

Operational Capability Analysis

Monogram’s financials reveal challenges in profitability. The company reported a trailing twelve-month (TTM) EPS of -$0.11 and a free cash flow of -$3.66 million. Despite a strong current ratio of 5.40 and quick ratio of 5.08, indicating liquidity, the company’s negative net income and cash burn rate raise concerns6.

Revenue for the latest quarter was $364,999, with a net loss of $13.75 million. Monogram’s operational focus remains on advancing its robotic surgical systems and securing regulatory approvals11.

Competitive Analysis

Monogram operates in a competitive medtech landscape, with its mBos system positioning it as a pioneer in robotic-assisted orthopedic surgery. However, the company’s financial metrics lag behind industry peers. The negative ROE (-26.63%) and ROA (-22.37%) highlight inefficiencies in generating returns from equity and assets34.

The company’s cash runway is limited, with a burn rate of $14 million over the past year. While Monogram’s innovative technology offers potential, its ability to scale and compete depends on reducing cash burn and achieving regulatory milestones110.

Growth Prospects Analysis

Monogram’s future hinges on the success of its mBos TKA system, which received FDA 510(k) clearance in March 2025. The system’s ability to deliver robotic-assisted knee arthroplasty positions the company to capitalize on the growing adoption of robotic surgery in orthopedics43.

Upcoming milestones include system upgrades and clinical trials to enhance competitiveness. Monogram’s focus on strategic placements with key opinion leaders (KOLs) in surgery aims to establish real-world clinical experience and drive market adoption43.

Key Events

In February 2025, Monogram announced the completion of a supplemental application for its mBos TGA system, awaiting FDA approval97. Additionally, in October 2024, the company clarified its FDA response timeline, addressing investor concerns about regulatory progress139.

Company Overview Summary

Monogram Orthopaedics (MGRM) is an innovative player in the orthopedic robotics space, leveraging AI and 3D printing to develop personalized surgical solutions. Despite its technological advancements, the company faces financial challenges, including negative profitability and a high cash burn rate.