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Product / Company Performance
Mazor Robotics Posts 3Q16 Revenue
Mazor Robotics reported 3Q16 revenue of US $7.6MM, +52.0% from 3Q15. (U.S. $5.7MM, +32.6%; ex-U.S. $1.9MM, +171.4%) Growth is as reported.
Sold 25 systems in 3Q, including:
- 3 U.S. Mazor X pre-launch orders
- 4 U.S. Renaissance orders
- 3 ex-U.S. Renaissance orders (Australia, Germany, Thailand)
- 15 Mazor X systems ordered by Medtronic
- Officially launched Mazor X and received orders for 6 systems in first five weeks of 4Q (5 Mazor X, one Renaissance)
- To date, 131 Renaissance systems installed globally, +36% year over year, with 79 in the U.S., +41%
- <100 U.S. hospitals use Mazor systems presently (have penetrated <5% of the addressable market)
- Completed second equity investment tranche of $20MM from Medtronic; commenced co-promotion and co-marketing efforts
- >100 Medtronic sales reps trained on Mazor X
Sources: Mazor Robotics Inc.; ORTHOWORLD Inc.
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