Mazor received purchase orders for 25 system orders in the third quarter of 2016, including pre-launch orders for the Mazor X.
Here are five things to know:
1. There were three Mazor X pre-orders the company expects to deliver by the end of the first quarter in 2017. The Mazor X is a guidance platform for spine surgeries.
2. There were four orders of the Mazor Renaissance systems in the United States and all were delivered during the third quarter.
3. Three of the Renaissance systems ordered were from distribution partners in the international market.
4. Mazor's strategic partner Medtronic ordered 15 Mazor X systems and four of them were delivered during the third quarter of 2016.
5. The company delivered a previously ordered Renaissance system to a distribution partner in the international market during the third quarter.
"Customers who first experience the Mazor X at our training centers are quickly realizing the increased benefits of the system and they have already placed pre-launch orders," said Mazor CEO Ori Hadomi. The company plans to commercially launch Mazor X at the North American Spine Society annual meeting.
The company has a policy that allows Renaissance system customers to exchange their system for the Mazor X system after the launch. As a result, revenue from system sales with the exchange option will be deferred until Mazor X orders are supplied or the exchange option expires.
The company expects third quarter revenue to hit $7.5 million. At the end of the third quarter, there were 131 Renaissance systems installed global and 79 in the United States.