Mazor Robotics reports a record number of orders for its spinal surgery systems

10 October, 2016

The company has received first orders for its new Mazor X system, yet to be officialy launched. The company expects revenues to amount to $7.5 million in Q3

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The company has received first orders for its new Mazor X system, yet to be officialy launched. The company expects revenues to amount to $7.5 million in Q3

mazor-x-300x200-250x167Cesarea, Israel based Mazor Robotics, a developer of surgical guidance systems received purchase orders for 25 systems during the third quarter ended September 30, 2016 including pre-launch orders for the recently unveiled Mazor X, a transformative guidance platform for spine surgeries. The Mazor X will be commercially launched at the North American Spine Society (NASS) annual meeting in Boston, MA October 26-29.

This figure represents an all-time quarterly orders for Mazor. 3 of the orders placed this quarter’s war for the company’s latest system – the Mazor X. 15 systems were ordered by med-tech giant Medtronic, with whom Mazor has signed an agreement in May 2016.

“The market’s response to the Mazor X is exceptional, exceeding our early expectations,” commented Ori Hadomi, Chief Executive Officer. “Customers who first experience the Mazor X at our training centers are quickly realizing the increased benefits of the system and they have already placed pre-launch orders. Mazor’s expanded portfolio of products, which now includes both the Mazor X and Renaissance systems, is responsible for the record number of purchase orders we received in the third quarter. As we move into the fourth quarter, we expect to build our momentum in the market as the Mazor X is launched, maximize our presence at NASS and our strategic partnership with Medtronic continues to be implemented.”

As previously reported, the Company recently implemented a policy enabling new Renaissance system customers to exchange to the Mazor X following the launch. Therefore, revenue from system sales with exchange option will be deferred until the Mazor X orders are supplied or the exchange option expires. The Company expects total third quarter revenue, including system sales and recurring revenues, to be approximately $7.5 million.

Mazor Robotics ended the third quarter with an installed base of 131 Renaissance systems globally, including 79 in the U.S., the Company’s primary growth market. The Company currently intends to report its complete financial results for the third quarter ended September 30, 2016 in November and will issue a press release with the date, time and dial in and webcast details.

Mazor’s announcement has not been ignored by investors, the company’s stock price has surged from $22 to more than $27 in the hours since the positive news. The company is traded at a market cap of $2.25 billion, and is considered an interesting investment by many analysts.

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