Mazor Robotics (NSDQ:MZOR) today released third quarter earnings that narrowly missed loss-per-share expectations on Wall Street, and announced that it won FDA clearance for its Mazor X Stealth edition.
The Caesarea, Israel-based company posted losses of $16.9 million, or 32¢ per share, on sales of approximately $10.1 million for the three months ended September 30, seeing losses grow 329.2% while sales shrunk 45.8% compared to the same period during the previous year.
Losses per share were just behind the 4¢ consensus on Wall Street.
The integrated device comes as a headwind to the company’s upcoming acquisition by Fridley, Minn.-based Medtronic, originally announced in September.
The world’s largest medical device maker has held a position in Mazor, which makes the Mazor X guidance system and the Renaissance robot-assisted spine surgery platform, since May 2016. In September they closed the third, $40 million tranche of the investment, giving Medtronic a 10.6% stake it paid $72 million for.
DeviceTalks West is just a few days away. Join more than 300 of your peers for a day of world-class education, networking, and a technology exhibition featuring the leading companies in the industry.
Don’t miss out on this premier opportunity to come together and share perspectives with the best of the best in the industry.
Use code LASTCHANCE to save an additional 20%.