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    Mike Tomey • Jefferies

    Michael Toomey is Vice President and US Medtech Analyst at Jefferies, specializing in equity research within the medical technology sector. He covers companies such as ICU Medical, where his stock ratings have shown notable performance, including an upgrade recommendation that captured a projected return of over 52%. Having joined Jefferies in early 2021 after prior roles as EMEA Medtech Analyst, buy-side investment analyst, and senior fund executive, Toomey brings over a decade of experience across investment banking and financial services. He holds relevant securities licenses and registration, with his tenure marked by consistent, above-average performance in sector analysis and investment recommendations.

    Mike Tomey's questions to Allurion Technologies Inc (ALUR) leadership

    Mike Tomey's questions to Allurion Technologies Inc (ALUR) leadership • Q1 2025

    Question

    Asked about procedure growth trends in the quarter (including ex-France), the potential impact of tariffs, the reason for the additional FDA analysis, and the timeline for the AI-powered Virtual Care Suite to generate material revenue.

    Answer

    Procedure volume is now tracking revenue, with stability ex-France and expected contributions from France in the second half of the year. Tariffs are not expected to have a material impact. The additional FDA analysis was invited by the agency and strengthens the company's application. Material revenue from the Virtual Care Suite is not expected in the near term but is anticipated to grow with the U.S. launch.

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    Mike Tomey's questions to Allurion Technologies Inc (ALUR) leadership • Q1 2025

    Question

    Mike Tomey, on for Matt Taylor, asked about procedure growth trends in the quarter, particularly ex-France, and whether tariffs were having an impact. He also sought clarification on the FDA's request for additional analysis and inquired when revenues from the AI-powered Virtual Care Suite might become material.

    Answer

    Shantanu Gaur, Founder and CEO, explained that procedure volumes now move in lockstep with revenue and are stable ex-France, with recovery underway in former DTC-focused markets. He confirmed tariffs have a negligible impact. Regarding the FDA, Gaur clarified the agency invited the additional analyses, which strengthens their application. He projected that Virtual Care Suite revenue is unlikely to be material until after the U.S. launch, with the U.S. market expected to be the primary driver of its adoption.

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