Mazor Robotics reported a net loss for the six months end along with second quarter financials.
Here are 10 things to know:
1. For the six months end, Mazor reported net loss at $7.3 million, slightly lower than $7.7 million reported at the end of last year.
2. Revenue increased 31 percent in the first half of this year, totaling $12.3 million compared to $9.4 million over the same period last year. System sales growth and increasing recurring revenues drove this growth.
3. Recurring revenue totaled $5.9 million in the first half of this year, attributed growing utilization of the Renaissance system in the United States and globally.
4. The gross margin for the six months end was 78.1 percent, compared with 78.9 percent over the same period last year.
5. In the second quarter, revenue increased 74 percent to $7.8 million, compared with $4.5 million a year ago.
6. Revenue generated in the United States increased from $3.1 million in the second quarter of 2014 to $6.5 million in the most recent report. The company sold six Renaissance systems in the United States during the second quarter, compared with two last year.
7. International revenue decreased from $1.4 million to $1.3 million in the second quarter, selling only one Renaissance system and one upgrade to the international market.
8. Recurring revenue from system kit sales, services and other increased to $3.2 million in the second quarter, up 48 percent over the same period last year.
9. The total operating expenses were $8.4 million, up from $7.7 million in the second quarter last year due to increased investments in sales, marketing and research and development activities.
10. Operating loss for the second quarter was $2.2 million, compared with $4.1 million in the second quarter last year. Net loss for the second quarter hit $2.1 million, down considerably from the $4.1 million in the second quarter last year.