Caesarea, Israel-based Mazor Robotics released its financial results for fourth quarter and full year, ended Dec. 31, 2016.
Q4 2016
1. Mazor's revenue saw a 59 percent boost in Q4 2016 to $14 million, up from $8.8 million in Q4 2015.
2. U.S. revenue rose from $6.7 million in Q4 2015 to $12.6 million in Q4 2016.
3. The quarter ended with a backlog of 21 systems, including 18 Mazor X systems; Mazor will report revenues form these systems in 2017.
4. The company earned $1.4 million in international revenue this quarter, compared to $2.1 million in Q4 2015.
5. Mazor reported Q4 2016 gross margin at 70.5 percent, compared to 78 percent in Q4 2015.
6. The company's total operating expenses hit $14.2 million this quarter, which reflects a boost in investment in sales and marketing activities.
7. Mazor experienced a $4.3 million operating loss.
8. Cash, cash equivalents and investments were $61.8 million, as of Dec. 31, 2016.
Full-year 2016
9. The company's full-year 2016 revenue rose 39 percent to $36.4 million, up from $26.1 million in 2015.
10. Mazor's 2016 U.S. revenue increased to $30.7 million, reflecting a 51 percent increase from 2015 U.S. revenue. The company received revenue from 30 systems in 2016, compared to only 16 systems in 2015.
11. Regarding international revenue, 2016 saw $5.7 million compared to $5.8 million in 2015.
12. Recurring revenue was valued at $16.8 million in 2016, compared to $12.7 million in 2015, due to a boost in the Renaissance systems' install base in the United States and globally.
13. The company's gross margin was 71.6 percent in 2016, down from 77.7 percent in 2015.
14. Total operating expenses came in at $45.1 million, and operating loss was $19 million.
15. Mazor's 2016 net loss was $18.7 million.
16. The company used $10.1 million in cash for operating activities.