Mazor Robotics released its earnings report for the first quarter of 2016.
Here are nine key notes:
1. The company generated revenues of $6.4 million for the first quarter ended of 2016, a 42 percent increase from the $4.5 million reported for the same period last year.
2. Mazor reported an operating loss of $5.2 million compared to an operating loss of $5.1 million in first quarter of 2015.
3. Net loss for the first quarter of 2016 was $5.1 million, slightly less than the net loss reported in same period last year, $5.2 million. On a non-GAAP basis, the net loss in the first quarter of 2016 was $4.2 million.
4. United States-generated revenue more than doubled to $5.6 million in this quarter, from $2.7 million in 2015's first quarter.
5. International revenue dipped to $0.8 million compared to $1.8 million in the first quarter of 2015.
6. The company's gross margin for the quarter ended March 31, 2016 was 74.2 percent.
7. Total operating expenses were $10 million, up from $8.5 million in the first quarter of 2015.
8. The increase in operating expenses primarily reflects the company's increased investment in sales, marketing and research and development activities.
9. During the first quarter Mazor Robotics received orders for five Renaissance systems, four of which were in the United States.