Mazor Robotics Earnings: Here’s Why Investors are Happy Now
Mazor Robotics (NASDAQ:MZOR) had a loss and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 3.22%.
Mazor Robotics Earnings Cheat Sheet
Revenue: Was the same at $6.2 million as the year-earlier quarter.
Actual vs. Wall St. Expectations: Mazor Robotics reported adjusted EPS loss of $0.02 per share. By that measure, the company missed the mean analyst estimate of $0.
Quoting Management: “Our strong financial performance, highlighted by the revenue and gross margin expansion, demonstrates continued global adoption of our Renaissance systems as we ended the second quarter with 54 systems installed globally,” commented Ori Hadomi, Chief Executive Officer. “A majority of the second quarter revenue increase came from the U.S. market, which represents a significant growth opportunity for Mazor. Concurrently, we are also working closely with our global distribution partners outside of the U.S., and are encouraged by the early success in Asia Pacific, including India, Vietnam, Taiwan and Australia. Furthermore, the continued growth in recurring revenue, which increased 150% this past quarter compared to a year-ago quarter, reflects the increase in our install base and utilization, mainly in the U.S. markets.”
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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)