Misonix on Feb. 5 reported a 17.3 percent increase in total revenue for the second quarter of fiscal 2020, compared to the same period last year.
Five insights:
1. Net loss for the fiscal second quarter was $5.1 million, up from a net loss of $800,000 in the same period the prior year.
2. Total operating expenses increased 125.8 percent to $18.1 million, compared to the same period last year.
3. Misonix attributed $8.3 million of the operating expenses to the acquisition of Solsys Medical.
4. The Solsys Medical acquisition contributed to a 94 percent increase in product revenue for the fiscal second quarter to $19.7 million.
5. Misonix plans to broaden the scope of Nexus, its ultrasonic surgical platform, in the second half of fiscal 2020.