The presentation of this non-GAAP financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with GAAP. Management uses both GAAP and non-GAAP measures when operating and evaluating the Company’s business internally and therefore decided to make these non-GAAP adjustments available to investors.
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 visit www.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 market
opportunity for the Renaissance system, the greater adoption of and the
expansion of the presence of Renaissance, the priorities that the
Company will focus on to assure its long term success, that the Company
believes it will experience growth in 2015 and beyond, 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.
Mazor Robotics Ltd.
CONSOLIDATED STATEMENT OF PROFIT OR
LOSS AND OTHER COMPREHENSIVE INCOME
(in thousands, except
per share data)
| Three month period | ||||||||
| ended March 31, | ||||||||
|
2015
(Unaudited) |
2014
(Unaudited) |
|||||||
| Revenue | $ | 4,510 | $ | 4,878 | ||||
| Cost of revenue | $ | 1,097 | $ | 1,031 | ||||
| Gross profit | $ | 3,413 | $ | 3,847 | ||||
| Operating costs and expenses: | ||||||||
| Research and development | $ | 1,474 | $ | 1,644 | ||||
| Selling and Marketing | $ | 5,948 | $ | 4,911 | ||||
| General and administrative | $ | 1,103 | $ | 910 | ||||
| Total operating costs and expenses | $ | 8,525 | $ | 7,465 | ||||
| Loss from operations | $ | (5,112) | $ | (3,618) | ||||
| Financing income (expenses), net | $ | (61) | $ | 24 | ||||
| Loss before taxes on income | $ | (5,173) | $ | (3,594) | ||||
| Income tax expense | $ | 29 | $ | 40 | ||||
| Net loss | $ | (5,202) | $ | (3,634) | ||||
| Net loss per share – Basic and diluted | $ | (0.12) | $ | (0.09) | ||||
| Weighted average common shares outstanding – Basic and diluted | 42,172 | 41,120 | ||||||
Mazor Robotics Ltd.
