• It's like a high-tech, disposable GoPro for your digestive system, with AI to help doctors quickly find problems.
• Think of it as the 'Cologuard of visual GI diagnostics,' offering a less invasive way for doctors to inspect your insides with a smart camera pill, instead of traditional procedures.

• CapsoCam Plus System: A capsule endoscopy solution, including a single-use capsule and viewing software (CapsoCloud/CapsoView), designed for panoramic visualization and diagnosis of small-bowel abnormalities.
• CapsoCam Plus with AI Assisted Reading: An upcoming update to the CapsoCam Plus system that will incorporate AI to detect and highlight suspected abnormalities, aiming to reduce clinician review time.
• CapsoCam Colon (Pipeline): A developing capsule endoscope product designed to automatically detect polyps and measure their size in the colon using integrated AI and a 3D sensor.
• Future CapsoCam Applications (Pipeline): Longer-term adaptations of the CapsoCam platform being explored for new GI medical indications such as esophageal conditions and pancreatic cancer.

CapsoVision (CV) sells primarily to other companies and medical institutions. Based on the provided information, the company's major customers fall into the following categories:

• Hospitals
• Clinics (specifically those where gastroenterologists practice)
• Qualified exclusive distributors (for international sales)

The provided text does not name specific customer companies or their symbols.

Kang-Huai (Johnny) Wang, President, Chief Executive Officer and Director

Mr. Wang is a co-founder of CapsoVision, and has served as President and Chief Executive Officer since November 2024. He previously served as CapsoVision's President and Chief Technology Officer from October 2006 to October 2024. Prior to joining CapsoVision, he was Vice President of Engineering for ESS Technology and also served as Chief Executive Officer and co-founder of Divio, Inc., a video processing chip design company. Mr. Wang was also a Design Manager for C-Cube Microsystem and held various engineering roles in the semiconductor industry.

David Michael Garcia, Senior Vice President, Finance, Principal Financial Officer and Principal Accounting Officer

Mr. Garcia serves as Senior Vice President, Finance at CapsoVision, overseeing the company's financial strategy, planning, and operations, and brings over 20 years of financial leadership experience. Before joining CapsoVision, he was Vice President of Financial Planning and Analysis at Matterport, Inc. from 2020 to 2025, where he played a key role in the company's initial public offering and its subsequent acquisition. His prior experience includes senior finance roles at View, Inc., IntelePeer Cloud Communications, and Align Technology, as well as earlier experience with Oracle and Deloitte.

Douglas Atkinson, Senior Vice President of Global Sales

Mr. Atkinson joined CapsoVision as Head of Global Sales in October 2016. Before CapsoVision, he was Director of Sales for MedTech Micro-Fixation from May 2015 to October 2016. He also served as Regional Sales Director at Medtronic PLC from January 2005 to April 2015, and as Regional Director of Sales and National Accounts at Stryker Corporation from May 1995 to December 2004, where he was recognized for multiple sales leadership and revenue growth awards.

Key Risks to CapsoVision (CV)

1. Going Concern and Liquidity Risk: CapsoVision has a history of operating losses, an accumulated deficit, and a stated substantial doubt about its ability to continue as a going concern, which could adversely impact its ability to fund growth strategies and meet cash and liquidity needs.
2. Regulatory Clearance Delays or Failure: The company's ability to commercialize its updated CapsoCam Plus with AI-assisted reading technology and its new pipeline product, CapsoCam Colon, is dependent on receiving timely FDA 510(k) clearances and EU CE Marks, which may be delayed or not obtained at all, impacting future revenue generation.
3. Dependence on a Single Product and Market Competition: All current revenues are derived from the CapsoCam Plus for small bowel visualization, making the company highly dependent on the continued success and growth of this single product. Its ability to grow is also subject to intense competition from existing FDA-cleared products and established market players.

CapsoVision (CV) anticipates several key drivers for future revenue growth over the next 2-3 years:

1. Expanded Sales of CapsoCam Plus System: The company plans to further grow its existing sales and marketing team to increase sales of its CapsoCam Plus small-bowel capsule system, building on its consistent revenue growth and high customer retention rate of approximately 90% in 2024. This includes strengthening its market presence, as evidenced by establishing a direct sales team in Germany in 2023.
2. Commercialization of AI-Assisted CapsoCam Plus: CapsoVision is updating its CapsoCam Plus with self-developed AI-assisted reading technology. The company targets FDA 510(k) and EU submissions in the second half of 2025, with clearance of the updated capsule and subsequent commercialization by the end of 2025. This enhancement is expected to make capsule endoscopy more financially attractive to practices by reducing video review time.
3. Launch of CapsoCam Colon System: To expand beyond small-bowel sales, CapsoVision is developing CapsoCam Colon, a new capsule endoscope for colon visualization, incorporating AI for polyp detection and a 3D sensor for polyp-size measurement. The company targets U.S. revenues for its second-generation CapsoCam Colon system beginning in the second half of 2026, following FDA 510(k) clearance, and EU revenues in early 2027, after receiving a CE Mark.