Mazor Robotics Ltd., a developer of innovative guidance systems and complementary products, announced today that it received orders for and delivered six Renaissance systems, two in the U.S. and four internationally, in the fourth quarter ended December 31, 2014.
The Company ended 2014 with 83 Renaissance systems globally, with 46 in the U.S., the Company’s primary growth market, compared with 63 and 34 systems in 2013, respectively.
Based on currently available operating and financial information, the Company expects to report revenue of approximately $5.7 million for the fourth quarter ended December 31, 2014. For the full year, Mazor expects to report revenue of approximately $21 million compared to revenue of $20 million in 2013. The anticipated results in this press release are based on management's preliminary unaudited analysis of financial results for the quarter and year ended December 31, 2014.
“While we were in active negotiations to complete the sale of one or more Renaissance systems with several U.S. hospitals, the completion of these agreements did not occur by the end of the year and, as a result, our fourth quarter revenue will be impacted,” said Ori Hadomi, Mazor’s Chief Executive Officer. “Our organization is continuing to pursue these agreements as we enter 2015. We are still at the very early stage of developing the robotic spine surgery market and continue to experience a high level of interest and sales activity in the Renaissance system in our key markets. We remain confident that with strong data supporting the clinical and economic benefits of the Renaissance system and continued sales and marketing efforts we will expand our presence in these markets over the longer term.”
The Company has provided preliminary financial results for the fourth quarter and full year due to upcoming meetings with investors in mid-January. The Company intends to maintain its policy of not providing an outlook on its future financial results and is not obligated to comment on expected results in the future. The Company currently intends to report its complete financial results for the fourth quarter and full year ended December 31, 2014 on February 18, 2015.
Source: http://mazorrobotics.com/