ClearPoint Neuro Q4 2022 Earnings Report
Key Takeaways
ClearPoint Neuro reported a 21% year-over-year increase in fourth quarter revenue, reaching $5.2 million. The company's full-year revenue grew by 26% to $20.6 million. They also reiterated their 2023 revenue forecast of between $25 and $27 million.
Reported fourth quarter 2022 revenue of $5.2 million, a 21% year-over-year increase compared with the fourth quarter of 2021.
Reported revenue of $20.6 million for the full year 2022, an increase of 26% over 2021 and representing the eighth consecutive year of growth.
Increased biologics and drug delivery revenue to $9.1 million for the full year 2022, a 34% increase over 2021.
Cash and short-term investments totaled $37.5 million as of December 31, 2022.
ClearPoint Neuro
ClearPoint Neuro
ClearPoint Neuro Revenue by Segment
Forward Guidance
ClearPoint Neuro expects growth of more than 20% in 2023 and is reiterating its 2023 revenue forecast of between $25 and $27 million.
Positive Outlook
- Expected growth of more than 20% in 2023
- Competitiveness of laser system
- Cadence of pharma partners’ continuing progress through the global regulatory process for new gene and cell therapies
Challenges Ahead
- Impact of the COVID-19 pandemic
- Global instability
- Supply chain disruptions
- Labor shortages
- Macroeconomic and inflationary conditions