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Sep 30, 2020
ClearPoint Neuro Q3 2020 Earnings Report
Reported record revenue driven by biologics and drug delivery revenue, offset by functional neurosurgery navigation and capital equipment and software revenue.
Key Takeaways
ClearPoint Neuro reported record revenue of $3.5 million for Q3 2020, a 20% increase compared to Q3 2019. The increase was driven primarily by a 162% increase in biologics and drug delivery revenues.
Total revenues reached a record $3.5 million, a 20% increase year-over-year.
Biologics and drug delivery revenues increased by 162% due to new relationships and clinical service retainers.
Gross margin improved to 80% due to a shift in revenue mix towards higher-margin service revenues.
The company supported 200 cases in the quarter.
Revenue by Segment
Forward Guidance
ClearPoint Neuro anticipates total revenue for 2020 to be in the range of $12.0 million to $12.5 million, representing growth of 7% to 11% over the prior year, assuming there is no resumption of a partial or full suspension of elective procedures due to the progression of the COVID-19 pandemic.
Positive Outlook
- Total revenue for 2020 expected to be between $12.0 million and $12.5 million.
- Projected revenue represents 7% to 11% growth over the prior year.
- Guidance assumes no further suspension of elective procedures due to COVID-19.
- Company is proactively redeploying resources to further engineering efforts.
- Company is investing in people and pipeline of future products and services.
Challenges Ahead
- Uncertainty remains due to the pandemic.
- Case volume represents approximately 80% of pre-pandemic estimates.
- Patients may postpone procedures due to COVID-19 risk.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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