Revenue: As of FY2026 Q1, the actual value is USD 0.

EPS: As of FY2026 Q1, the actual value is USD -1.03, beating the estimate of USD -1.2.

EBIT: As of FY2026 Q1, the actual value is USD -7.531 M.

Vicarious Surgical Inc. operates as a single reportable segment, focusing on the development of its surgical robotic system.

Net Loss

Vicarious Surgical Inc. reported a net loss of -$7,329 thousand for the three months ended March 31, 2026, which is an improvement compared to a net loss of -$15,394 thousand for the same period in 2025. Net loss per common share (basic and diluted) was -$1.03 for the three months ended March 31, 2026, down from -$2.60 for the three months ended March 31, 2025.

Operating Expenses

Total operating expenses decreased by -$8,245 thousand, or 52%, from $15,747 thousand for the three months ended March 31, 2025, to $7,502 thousand for the three months ended March 31, 2026. This reduction was primarily due to decreases in personnel-related expenses, inventory, supplies and materials, facilities-related expenses, professional fees, and depreciation and amortization.

• Research and Development (R&D) Expenses: R&D expenses decreased by -$4,376 thousand (46%) to $5,039 thousand for the three months ended March 31, 2026, from $9,415 thousand in the prior year period. This decrease was mainly driven by a -$2,136 thousand reduction in personnel-related expenses, a -$1,034 thousand decrease in supplies and direct materials, and a -$564 thousand decrease in consulting and contractor fees. The average R&D headcount decreased by 61%, from 99 people in Q1 2025 to 39 people in Q1 2026.
• Sales and Marketing (S&M) Expenses: S&M expenses decreased by -$698 thousand (67%) to $343 thousand for the three months ended March 31, 2026, from $1,041 thousand in the prior year period. This was primarily due to a -$711 thousand decrease in personnel-related expenses, with the average S&M headcount decreasing by 63%, from 8 people in Q1 2025 to 3 people in Q1 2026.
• General and Administrative (G&A) Expenses: G&A expenses decreased by -$3,171 thousand (60%) to $2,120 thousand for the three months ended March 31, 2026, from $5,291 thousand in the prior year period. This was mainly due to a -$2,880 thousand decrease in personnel-related expenses, and reductions in software costs and facilities-related expenses. The average G&A headcount decreased by 56%, from 16 people in Q1 2025 to 7 people in Q1 2026.

Other Income (Expense), Net

Other income, net, decreased by -$180 thousand to $173 thousand for the three months ended March 31, 2026, from $353 thousand in the prior year period. This was primarily due to a -$396 thousand decrease in interest income from short-term investments, partially offset by a $133 thousand gain on sale of equipment and a -$93 thousand decrease in expense related to the change in fair value of warrant liabilities.

Cash and Investments

Cash and cash equivalents were $1,407 thousand as of March 31, 2026, down from $2,569 thousand as of December 31, 2025. Short-term investments were $2,275 thousand as of March 31, 2026, down from $7,223 thousand as of December 31, 2025. Total cash, cash equivalents, and short-term investments amounted to $3,682 thousand as of March 31, 2026.

Cash Flows

• Net cash used in operating activities: Vicarious Surgical Inc. used -$6,325 thousand in operating activities for the three months ended March 31, 2026, compared to -$11,768 thousand for the same period in 2025.
• Net cash provided by investing activities: Net cash provided by investing activities was $5,060 thousand for the three months ended March 31, 2026, compared to $4,613 thousand for the same period in 2025. This included $6,152 thousand in proceeds from sales and maturities of available-for-sale investments and $133 thousand from equipment sales, partially offset by $1,216 thousand for purchases of available-for-sale investments and $9 thousand for fixed asset purchases.
• Net cash used in financing activities: Net cash used in financing activities was -$154 thousand for the three months ended March 31, 2026, primarily for repayment of notes payable. In 2025, net cash provided by financing activities was $17 thousand from stock option exercises.

Accumulated Deficit

Vicarious Surgical Inc. reported an accumulated deficit of -$253,446 thousand as of March 31, 2026.

Outlook and Strategy

Vicarious Surgical Inc. anticipates continued net losses due to ongoing product development and clinical pathway investments. The company believes its current cash, cash equivalents, and short-term investments of $3,682 thousand as of March 31, 2026, will not be sufficient to support operations for the next 12 months, raising substantial doubt about its ability to continue as a going concern. Vicarious Surgical Inc. is actively seeking additional equity or debt financing and expects its cash to support operations through Q2 2026 primarily due to headcount reductions, while also aiming to list its Class A common stock on the Nasdaq Capital Market, potentially requiring a reverse stock split.