A 58% increase in revenue resulted in a quarterly record for MRI Interventions in its 2019 second quarter.
For the period (end-June 30), the company had $2.6 million in revenue, up from $1.6 million in the second quarter last year. Functional neurosurgery revenue climbed 46% to reach $1.7 million, while biologics and drug delivery revenue grew by 51% to reach $413,000. In addition, capital equipment sales and related service revenue soared 128% to $485,000. The firm said it now has 65 systems in circulation, including 55 at active clinical sites.
MRI Interventions had a second-quarter net loss of $1.6 million, an improvement over the net loss of $1.9 million a year ago.
