On July the 6th, Mazor Robotics (NASDAQ: MZOR), which is a developer of surgical guidance systems, released details about their performance for the second quarter of 2017. For the quarter that ended on June the 30th, the company expects to report record revenue of approximately 15.4 million dollars. During the same quarter the previous year, the company earned $8.3 million. This year, the company received 19 purchase orders for their surgical guidance systems. The Mazor X system accounts for sixteen of those orders. The orders primarily originated in the United States market.
The company also generated 7 trade-in orders from clients that had previously purchased Renaissance systems. During the 2nd quarter, the company received three orders for Renaissance systems. Two were from international customers, while one was from a United States based client. The company’s Chief Executive Officer, Ori Hadomi, praised the company’s success.
“Our second quarter performance reflects the market’s enthusiasms for the Mazor X system and demand continues to grow.” He went on to conclude that the company’s sales momentum and successful growth strategies accompanied with ongoing product innovation position Mazor for sustainable growth. At the end of the 2nd quarter, Mazor has a system backlog of 14. This was in line with 1st quarter numbers.
The backlog was adjusted to reflect an order that was made in the 1st quarter, but cancelled during the 2nd. Mazor intends to have the systems delivered sometime during the second half of this year. They also expect to report full financial results for the quarter on August the 1st of 2017. A future press release will provide investors with webcast details.