Mazor expects 2017 revenue will hit $65 million and reports the company sold 27 robotic guidance systems in the fourth quarter.
Here are five things to know:
1. Medtronic purchased 23 of the 27 robotic guidance systems sold in the past quarter and assumed exclusive worldwide distribution of Mazor X per the second phase of the commercial agreement between the two companies. Three of the purchase orders were for Renaissance systems, purchased from U.S. customer and distribution partners in Germany and Thailand.
2. Mazor had a backlog of 16 systems, 14 being Mazor X systems, as of Dec. 31, 2017.
3. For the full year, Mazor received 73 system purchase orders, 64 for the Mazor X system.
4. Medtronic will assume global commercial responsibility for Mazor X installation this year, which Mazor anticipates will increase market penetration. The future revenue from Mazor X capital systems and disposables will be affected by the distribution model pricing with Medtronic, so Mazor will report modest revenue growth in 2018.
5. Mazor's agreement with Medtronic will likely reduce Mazor's full year 2018 sales and marketing expenses, delivering significant savings. Following 2018, the company's revenue is expected to accelerate, driven primarily by expanding installed base and increased recurring revenue.