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Quarterly Review

3Q13 Revenue: Baxano Surgical

$5.7MM, +77% (U.S. $5.3MM, +83%; ex-U.S. $0.4MM, +33%)

  • U.S. VEO $0.5MM, +8%
  • iO-Flex $2.5MM, +6%
  • U.S. AxiaLIF $1.9MM


  • 138 U.S. AxiaLIF procedures, 51 VEO cases
  • Ex-U.S. growth supported by entry in Columbia, Mexico
  • Case volume impacted by reimbursement for Category I code, but pricing strong due to mix of 2-level cases and ancillary products
  • 29 new iO-Flex users
  • Can train surgeon on iO-Flex or iO-Tome in 2.5 hours
  • Hired 8 new direct sales reps (some replacing lost reps from 2Q)
  • In 4Q, launched iO-Tome disposable facetectomy instrument