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Mar 31, 2020
ClearPoint Neuro Q1 2020 Earnings Report
Announced financial results for the first fiscal quarter ended March 31, 2020.
Key Takeaways
ClearPoint Neuro reported a 26% year-over-year increase in total revenues, reaching $3.1 million for the first quarter of 2020. However, the company experienced a significant impact from the COVID-19 pandemic, which led to the postponement of elective surgeries and a subsequent reduction in case volume. The company withdrew its case and revenue forecast for 2020.
Total revenues increased by 26% year-over-year, reaching $3.1 million.
Functional neurosurgery revenue increased by 5% to $1.7 million.
Biologics and drug delivery revenues increased by 169% to $1.0 million.
Capital equipment revenue decreased by 29% to $345,000.
ClearPoint Neuro
ClearPoint Neuro
ClearPoint Neuro Revenue by Segment
Revenue by Segment
Biologics and Drug Delivery Revenue
CapyFin.comCapital Equipment & Software Revenue
CapyFin.com Forward Guidance
ClearPoint Neuro withdrew its case and revenue forecast for 2020 due to the impact of COVID-19.
Challenges Ahead
- Limited access to personal protective equipment.
- Limited access to ventilators.
- Postponement of elective surgeries.
- Patient reluctance to enter the hospital environment.
- Families are not allowed to be with patients.