CAESAREA, Israel – January 5, 2015 – Mazor Robotics Ltd. (TASE: MZOR; NASDAQ GM: MZOR), a developer of innovative guidance systems and complementary products, announced today that it received orders for and delivered six Renaissance systems, two in the U.S. and four internationally, in the fourth quarter ended December 31, 2014. The Company ended 2014 with 83 Renaissance systems globally, with 46 in the U.S., the Company’s primary growth market, compared with 63 and 34 systems in 2013, respectively.
Based on currently available operating and financial information, the Company expects to report revenue of approximately $5.7 million for the fourth quarter ended December 31, 2014. For the full year, Mazor expects to report revenue of approximately $21 million compared to revenue of $20 million in 2013. The anticipated results in this press release are based on management’s preliminary unaudited analysis of financial results for the quarter and year ended December 31, 2014.
“While we were in active negotiations to complete the sale of one or more Renaissance systems with several U.S. hospitals, the completion of these agreements did not occur by the end of the year and, as a result, our fourth quarter revenue will be impacted,” said Ori Hadomi, Mazor’s Chief Executive Officer. “Our organization is continuing to pursue these agreements as we enter 2015. We are still at the very early stage of developing the robotic spine surgery market and continue to experience a high level of interest and sales activity in the Renaissance system in our key markets. We remain confident that with strong data supporting the clinical and economic benefits of the Renaissance system and continued sales and marketing efforts we will expand our presence in these markets over the longer term.”
The Company has provided preliminary financial results for the fourth quarter and full year due to upcoming meetings with investors in mid-January. The Company intends to maintain its policy of not providing an outlook on its future financial results and is not obligated to comment on expected results in the future. The Company currently intends to report its complete financial results for the fourth quarter and full year ended December 31, 2014 on February 18, 2015.
About Mazor
Mazor Robotics (TASE: MZOR; NASDAQGM: MZOR) believes in healing through innovation by developing and introducing revolutionary robotic-based technology and products aimed at redefining the gold standard of quality care. Mazor Robotics Renaissance® Guidance System enables surgeons to conduct spine and brain procedures in a more accurate and secure manner. For more information, please visitwww.MazorRobotics.com.
Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other securities laws. Any statements in this release about future expectations, plans or prospects for the Company, including without limitation, statements regarding the expectations for growth in system sales and recurring revenue, the Company’s expected sales in 2016, and other statements containing the words “believes,” “anticipates,” “plans,” “expects,” “will” and similar expressions are forward-looking statements. These statements are only predictions based on Mazor’s current expectations and projections about future events. There are important factors that could cause Mazor’s actual results, level of activity, performance or achievements to differ materially from the results, level of activity, performance or achievements expressed or implied by the forward-looking statements. Those factors include, but are not limited to, the impact of general economic conditions, competitive products, product demand and market acceptance risks, reliance on key strategic alliances, fluctuations in operating results, and other factors indicated in Mazor’s filings with the Securities and Exchange Commission (SEC) including those discussed under the heading “Risk Factors” in Mazor’s annual report on Form 20-F filed with the SEC on April 29, 2015 and in subsequent filings with the SEC. For more details, refer to Mazor’s SEC filings. Mazor undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or to changes in our expectations, except as may be required by law.
U.S. Contacts: EVC Group
Michael Polyviou/Doug Sherk – Investors
mpolyviou@evcgroup.com; dsherk@evcgroup.com
212.850.6020; 646-445-4800
David Schemelia – Media
646.201.5431
