Mazor Robotics 2013 Net Loss Shoots to $20M

Anuja Vaidya -  

 

Mazor Robotics announced that its total revenue for the fourth quarter of fiscal year 2013 is $5.724 million, up from its revenue during the same period last year, $2.716 million.

The company also announced its revenue for the year ended Dec. 31, 2013, which was $19.98 million, up from the year ended Dec. 31, 2012, which yielded $12.17 million.

 

However, the company also recorded a net loss of $20.52 million for the year ended Dec. 31, 2013, a significantly higher loss as compared to the same period last year of $7.06 million. In 4Q of FY 2013, the company recorded a net loss of $2.03 million, down from the net loss of $4.4 million it recorded during the same period last year.

 

The company sold 23 systems in 2013, bringing the total U.S. systems to 34 and worldwide systems to 63. In 2014, the company plans to increase investments in sales force expansion, marketing activities, research and development initiatives and additional clinical data development.

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