Mazor Robotics Reports Second Quarter and First Half 2018 Results; Robotic Guidance Systems Sold Increased by 25% and 32%, Respectively

Cash used in operating activities was $6.5 million compared to cash used in operating activities of $7.4 million in the year-ago second quarter, reflecting lower cash expenditures. As of June 30, 2018, cash, cash equivalents and investments totaled $108.1 million.

SECOND QUARTER 2018 FINANCIAL RESULTS ON NON-GAAP BASIS

The tables below include reconciliation of the Company's GAAP results to non-GAAP results. The reconciliation relates to non-cash expenses in the amount of $2.5 million with respect to amortization of intangible assets and to share-based payments recorded in the second quarter of 2018. On a non-GAAP basis, the net loss in the second quarter of 2018 was $1.4 million, or $0.03 per share, compared to $2.4 million, or $0.05 per share, for the year-ago second quarter.

SIX MONTHS ENDED JUNE 30, 2018 FINANCIAL RESULTS ON IFRS BASIS ("GAAP")

For the six months ended June 30, 2018, revenue increased 6% and totaled $28.7 million compared to $27.2 million for the six months ended June 30, 2017, due to higher recurring revenue, offset by a decrease in revenue from system sales. Gross margin for the six months ended June 30, 2018 was 57.3% compared with 67.3% in the six months ended June 30, 2017. This expected decrease is attributed mainly to the pricing terms with Medtronic following the transition to the global distribution phase of the Medtronic partnership. Total operating expenses were $21.8 million compared to $27.9 million in the year-ago first half, mainly due to lower selling and marketing expenses, following the transition to the global distribution phase of the Medtronic partnership.  Operating loss was $5.3 million, compared to $9.6 million in the first six months of 2017.

Net loss for the six months ended June 30, 2018 was $5.1 million, or $0.10 per share, compared to a net loss of $8.9 million, or $0.19 per share, in the first six months of 2017.

SIX MONTHS ENDED JUNE 30, 2017 FINANCIAL RESULTS ON NON-GAAP BASIS

On a non-GAAP basis, the net loss for the first six months of 2018 was $1.1 million, or $0.02 per share, compared to a net loss of $6.3 million, or $0.13 per share, in the first six months of 2017.

CONFERENCE CALL INFORMATION

The Company will host a conference call to discuss these results on Thursday, August 2, 2018, at 8:30 AM EDT (3:30 PM IDT).  Investors within the United States interested in participating are invited to call 866-548-4713.   Participants in Israel can use the toll-free dial-in number 1809 212 833. All other international participants can use the dial-in number +1 323-794-2093

A replay of the event will be available for two weeks following the conclusion of the call. To access the replay, callers in the United States can call 1-888-203-1112 and reference the Replay Access Code: 5587897. All international callers can dial +1 719-457-0820 using the same Replay Access Code. To access the webcast, please visit www.mazorrobotics.com and select 'Investor Relations.'

Use of Non-GAAP Measures

In addition to disclosing financial results calculated in accordance with generally accepted accounting principles in conformity with International Financial Reporting Standards (GAAP), this press release contains Non-GAAP financial measures for gross profit, operating expenses, operating profit (loss), net income (loss) and basic and diluted earnings (loss) per share that exclude the effects of non-cash expense of amortization of intangible assets and share-based payments. Management believes that these non-GAAP financial measures provide meaningful supplemental information regarding the Company's performance that enhances management's and investors' ability to evaluate the Company's net income (loss) and earnings (loss) per share and to compare them to historical net income (loss) and earnings (loss) per share.

The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when operating and evaluating the Company's business internally and therefore decided to make these non-GAAP adjustments available to investors.

About Mazor

Mazor Robotics (TASE: MZOR; NASDAQGM: MZOR) believes in healing through innovation by developing and introducing revolutionary technologies and products aimed at redefining the gold standard of quality care. Mazor Robotics Guidance System enables surgeons to conduct spine and brain procedures in an accurate and secure manner. For more information, please visit www.MazorRobotics.com.

Forward-Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Any statements in this release about future expectations, plans or prospects for the Company, including without limitation, statements regarding the objective of placing hundreds of Mazor X systems into service over the next few years, the anticipated introduction of the Mazor X – Stealth Edition and anticipated customer demand, integration of Stealth navigation, increase in production capacity, and other statements containing the words "believes," "anticipates," "plans," "expects," "will" and similar expressions are forward-looking statements. These statements are only predictions based on Mazor's current expectations and projections about future events. There are important factors that could cause Mazor's actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include, but are not limited to, the impact of general economic conditions, competitive products, product demand and market acceptance risks, reliance on key strategic alliances, fluctuations in operating results, and other factors indicated in Mazor's filings with the Securities and Exchange Commission (SEC) including those discussed under the heading "Risk Factors" in Mazor's annual report on Form 20-F filed with the SEC on April 30, 2018 and in subsequent filings with the SEC. For more details, refer to Mazor's SEC filings. Mazor undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in our expectations, except as may be required by law.

Mazor Robotics Ltd.
CONSOLIDATED STATEMENT OF PROFIT OR LOSS
(U.S. Dollars in thousands, except per share data)
(UNAUDITED)
			Six months period								Three months period
			ended June 30,								ended June 30,
			2018				2017				2018				2017
Revenue			$	28,745			$	27,174			$	13,238			$	15,455
Cost of revenue			$	12,272			$	8,875			$	5,807			$	4,726
Gross profit			$	16,473			$	18,299			$	7,431			$	10,729
Operating expenses:
Research and development, net			$	5,069			$	4,034			$	2,682			$	2,242
Selling and marketing			$	12,288			$	20,209			$	6,207			$	10,316
General and administrative			$	4,442			$	3,657			$	2,420			$	,2086
Total operating cost and expenses			$	21,799			$ Werbung Mehr Nachrichten zur Mazor Robotics Aktie kostenlos abonnieren E-Mail-Adresse Bitte überprüfe deine die E-Mail-Adresse. Benachrichtigungen von ARIVA.DE (Mit der Bestellung akzeptierst du die Datenschutzhinweise) -1 Vielen Dank, dass du dich für unseren Newsletter angemeldet hast. Du erhältst in Kürze eine E-Mail mit einem Aktivierungslink. Hinweis: ARIVA.DE veröffentlicht in dieser Rubrik Analysen, Kolumnen und Nachrichten aus verschiedenen Quellen. Die ARIVA.DE AG ist nicht verantwortlich für Inhalte, die erkennbar von Dritten in den „News“-Bereich dieser Webseite eingestellt worden sind, und macht sich diese nicht zu Eigen. Diese Inhalte sind insbesondere durch eine entsprechende „von“-Kennzeichnung unterhalb der Artikelüberschrift und/oder durch den Link „Um den vollständigen Artikel zu lesen, klicken Sie bitte hier.“ erkennbar; verantwortlich für diese Inhalte ist allein der genannte Dritte. Andere Nutzer interessierten sich auch für folgende News 24.04.24 - PR Newswire Invesco Select Trust Plc - Cancellation of Treasury Shares 24.04.24 - PR Newswire Fidelity Emerging Markets Ltd - Monthly Factsheet 24.04.24 - PR Newswire Oscillate Plc - Holding(s) in Company Solarboom 2024:    5 Gründe die für diese Aktie sprechen… weiterlesen» Anzeige wo-site-teaser-box-16746_site-teaser-box_2024-04-24_08%253A00%253A00_2024-04-25_09%253A00%253A59