Mazor Robotics reported a net loss of $3.5 million during the third quarter of 2013 and ended the quarter with 30 Renaissance Systems installed in the United States and 56 installed globally.
The company reported $3.1 million in third quarter revenue, and $14.3 million for the nine-months end, which was a 51 percent increase over the same period last year. The revenue generated in the United States decreased by $1 million to $2.3 million during the third quarter compared to the same period last year. The company reported only one Renaissance system commercial sale and one system upgrade.
Despite the third quarter report, Mazor President and CEO Ori Hadomi remains optimistic about the future.
"We are confident that our active pipeline will allow us to continue penetrating more hospitals and hospital corporations, a strategy reinforced with a system sale recently announced in November. Our strengthened balance sheet resulting from the recent successful ADS offering provides the resources to expand our sales and marketing footprint which will facilitate increased adoption of Renaissance," he said in a company news release.
Earlier this month, the company reported closing its initial public offering of 2.76 million shares at $17 per share for a total of $46.92 million in gross proceeds.
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