Mazor Robotics Ltd.

RECONCILIATIONS OF GAAP TO NON-GAAP FINANCIAL MEASURES

 (U.S. Dollars in thousands, except per share data)

 (UNAUDITED)

Three month period

ended March 31,

GAAP gross profit

$

9,042

$

7,570

Amortization of intangible assets

82

82

Share-based payments

118

53

Non-GAAP gross profit

$

9,242

$

7,705

GAAP gross profit as percentage of revenues

58.3%

64.6%

Non-GAAP gross profit as percentage of revenues

59.6%

GAAP operating expenses

$

10,490

$

13,256

Share-based payments:

Research and development

$

304

$

158

Selling and marketing

$

512

$

440

General and administrative

$

601

$

550

Non-GAAP operating expenses

$

9,073

$

12,108

GAAP operating loss

$

(1,448)

$

(5,686)

Non-GAAP operating profit (loss)

$

169

$

(4,403)

GAAP net loss

$

(1,277)

$

(5,232)

Amortization of intangible assets

82

82

Share-based payments

$

1,535

$

1,201

Non-GAAP net income (loss)

$

340

$

(3,949)

GAAP basic and diluted loss per share

$

(0.02)

$

(0.11)

Non-GAAP basic and diluted
earnings (loss) per share

$

0.01

$

(0.08)