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Jun 30, 2024
ClearPoint Neuro Q2 2024 Earnings Report
Reported record quarterly revenue and achieved double-digit growth across all four pillars.
Key Takeaways
ClearPoint Neuro reported a strong second quarter with record revenue of $7.9 million, a 32% year-over-year increase. Product revenue more than doubled, and the company saw significant growth in Biologics and Drug Delivery revenue and Neurosurgery Navigation revenue. The company also raised its full-year revenue guidance to between $30.0 and $33.0 million.
Reported quarterly revenue of $7.9 million, a 32% year-over-year increase.
Product revenue across all segments more than doubled, growing 112% to $4.9 million.
Increased Biologics and Drug Delivery revenue to $4.3 million, a 28% year-over-year increase.
Operational cash burn reduced to $2.7 million, a 47% year-over-year decrease.
ClearPoint Neuro
ClearPoint Neuro
ClearPoint Neuro Revenue by Segment
Revenue by Segment
Biologics and Drug Delivery Revenue
CapyFin.comNeurosurgery Navigation & Therapy Revenue
CapyFin.com Forward Guidance
The Company is raising its full year 2024 revenue outlook to between $30.0 and $33.0 million.
Positive Outlook
- Expand our biologics and drug delivery services and customers
- Add long-term strategic agreements with pharmaceutical partners
- Assist our biotech partners as they continue first-in-human study initiations
- Continue our expansion into the operating room with SmartFrame OR
- Expand our installed base of the PRISM Laser Therapy System under full market release
Revenue & Expenses
Visualization of income flow from segment revenue to net income