Mazor Robotics Sees Q3 Revenue Above Consensus At $17.2m

Mazor Robotics (MZOR) expects to report of approximately $17.2M for Q3, above the consensus estimate of $13.58M. During the third quarter, the company received a total of 22 system purchase orders from customers in the U.S., Asia and Israel. The 22 orders are comprised of: 19 purchase orders for the Mazor X system, of which 11 were ordered by Medtronic (MDT), and a purchase order for three Renaissance systems from the company's distribution partner in China, one of which was delivered in Q3.

As of September 18, Medtronic assumed full responsibility for the distribution of the Mazor X system, as part of the second phase of the commercial agreement between the companies, Mazor Robotics said earlier in a press release. Five of the Medtronic ordered systems were delivered in Q3.

"This quarter we transferred to Medtronic members of our talented capital sales team along with a solid sales pipeline. This transition was performed in a smooth and effective manner and we maintained robust sales activity during the transition period," commented Ori Hadomi, CEO. "The continued strong performance in the third quarter of 2017 reflects the increased demand and interest in Mazor's robotic platforms." Mazor's system backlog at the end of Q3 was 17 systems. The stock in premarket trading is up 9%, or $4.56, to $54.73.


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