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Product / Company Performance

Mazor Robotics Posts 1Q18 Revenue -

Mazor Robotics (MZOR) reported 1Q18 revenue of US $15.5MM, +32.5% from 1Q17.

  1Q18  1Q17  $ Change  % Change 
 Spine $15.5  $11.7  $3.8  32.5% 

In 1Q, MZOR passed 33,000 cases performed overall, up from 30,000 at the end of 2017. The company is expanding its international markets with Mazor X, as Medtronic received a first European order and installed a system in Switzerland. Orders were also received for Renaissance in Asia and Europe.

In the U.S., MZOR initiated a pilot program with a major U.S. ASC for use of Renaissance.

Leadership noted that they will no longer provide specific placement numbers for X and Renaissance, as they realized that they were the only ones sharing such information and the environment has changed. However, they did confirm that they ended the quarter with over 200 Mazor X installations in 15 countries.

By year-end, MZOR expects to start commercialization of a Mazor X platform that combines Medtronic’s Stealth navigation with MZOR’s robotics guidance, playing catch-up to Globus’ ExcelsiusGPS system that already offers both navigation and robotics.

Source: Mazor Robotics

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