2024 is slowly shaping to where we need to go in 2025Take it for a grain of salt but I think 2024 is setting up well for a successful (break even 2025). I've been highly critical of Ventripoint and especially GA and Alvira but see Hugh as the leader we need to get us to realize the potential of this company and reach profitability.
- Hugh and Bart are the first set of sales leaders this company has had with a version (3.2) that customers actually want. If you go back into the history of the other versions they had significant user experience issues and could be prone to human error from the placement aspect.
- 4.0 eliminates the final user error issues (placements) and seems to finally hit the majority of user requests. Will other versions be needed (yes but this is what technology and software does and should be expected). 4.0 appears to be the real deal and I expect it to aid in driving sales. Hugh has stated they are selling 3.2 to customers and they will likely be given the upgrade to 4.0 for free which should not prevent potential customers from waiting until 4.0 is approved and available.
- Major logos have purchased (Duke, Deutsches Herzzentrum der Charit (DHZC), German Heart Center which is a good sign that there is beginning realization VMS has a beachhead in pediatrics as well as the second Duke purchase shows they can see value with adults as well. Hugh mentioned there are 6 other large logos are near a purchase decision.
- This is a disruptive tech and still in the early adopter phase. Once more large logos buy (I think we will see more this year) it will be easier to sell each following unit as word spreads. Health care is a slow moving industry which is driven by group think. When large prominent HC systems by a technology then other smaller HC systems follow. Duke is a good sign and I would expect some similiar large logos like Mayo to follow and then the ability to sell becomes that much easier. It will take time and why my expectation is 2025 2H is when this may start to get very interesting.
- Payback with insurance is 6-12 months per Hugh on the last call. This is quite fast and makes the financial decision easier for hospital systems to justify with procurement.
- Bart is in effect a CEO of Europe and more qualified than Alvira and George in sales and marketing. There was a 9 month gap from when the European sales rep left and until Bart came on board.
- Hugh is focusing on pediatrics (children's hospital) which shows he understands VMS needs to be established as one solid thing for now which can expand in the future. The branding, marketing, website, etc. is all shifting to this.
- The financing should allow them enough run rate through 2025 especially with the upcoming round. I expect to see some larger players take part in that, institutions/high wealth investors.
We still have a ways to go but having owned this stock for four years and once buying GA hype I finally see Hugh as the leader we need and who can get us to profitability.