Overall Economic Health / Healthcare Spending: A potential downgrade in global growth forecasts could lead healthcare systems to become more cautious with capital expenditures on new medical technologies. While the US economy shows job growth, global slowdowns could still impact capital-intensive purchases of medical devices like Ceribell's.

Supply Chain Disruptions & Tariffs: Geopolitical risks and tariffs, specifically mentioned as impacting Ceribell's margin pressures, could disrupt the manufacturing and distribution of its medical devices. This may lead to increased costs or delays in product availability.

Regulatory Environment for Medical Devices & AI: As a medical technology company relying on AI algorithms, Ceribell is highly sensitive to changes in regulatory policies from bodies like the FDA, as well as broader regulations concerning AI in healthcare. Favorable FDA clearances are crucial, but any shifts in the regulatory landscape could affect product development and market access.