Surgical visualization technology developer Mazor Robotics is reporting revenue increases for its fourth quarter (end-December 31).
For the period, the company posted revenue of $14 million, up 59% from $8.8 million in the same period last year. U.S. revenue increased 88%, from $6.7 million in 2015 to $12.6 million; the company attributed this increase to the sale of 13 Mazor X and two Renaissance systems. The company sustained a net loss in the fourth quarter of $4.3 million, compared with a net loss of $2.9 million for the same period in 2015.
For the full year, Mazor's revenue increased 39% to $36.4 million, compared with $26.1 million in 2015. U.S. revenue increased 51%, from $20.3 million in 2015 to $30.7 million in 2016. Net loss for the full year was $18.7 million, compared with $15.4 million in 2015.
