Amedica reports preliminary 2016 revenue of $15.2M — 10 highlights

Megan Wood -   Print  |

Amedica reported its 2016 preliminary earnings for the fourth quarter and fiscal year, ended Dec. 31.

Here are 10 highlights:

 

1. The company reported preliminary revenue of $3.6 million in the fourth quarter of 2016.

 

2. Preliminary GAAP net loss was $0.16 per share in the fourth quarter of 2016, compared to $0.57 per share in the fourth quarter of 2015.

 

3. In 2016, Amedica saw revenue of $15.2 million.

 

4. Preliminary GAAP net loss was $1.19 per share for the full year of 2016.

 

5. As of Dec. 31, 206, Amedica's cash and cash equivalents were $6.9 million.

 

6. Amedica decreased its total debt to about $4 million, a reduction from the $24.3 million in July 2015.

 

7. Surgeons have completed more than 60 surgeries with Amedica's Taurus Pedicle Screw System since its approval in November 2016. The company saw $450,000 in revenue from the system with an additional 10 surgeons trialing the system.

 

8. Since the end of 2016, Amedica has seen a 12 percent jump in surgeon users.

 

9. Amedica also reported a 10 percent increase in sales agents compared to the end of 2016.

 

10. Looking ahead, the company is focused on boosting revenue in Brazil, Europe and Australia.

 

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