- ClearPoint Neuro Inc CLPT reported Q2 revenue of $3.4 million, a 38% Y/Y increase, below the consensus estimate of $3.68 million.
- Functional neurosurgery navigation revenue increased 74% to $1.9 million, reflecting the resumption of elective surgical procedures.
- Biologics and drug delivery revenue increased 19% to $1.4 million. ClearPoint added biologics and drug delivery relationships, bringing the current count of active partners to approximately 35 from approximately 30 in Q1 FY21.
- The gross margin compressed to 67%, from 68%, primarily due to a decreased contribution from service revenue, which carries a higher gross margin relative to product lines.
- ClearPoint posted Q2 EPS loss $(0.17), missing the estimate of $(0.13).
- On June 30, the Company had cash and cash equivalents totaling $61.5 million.
- ClearPoint expects the new Delta wave to pressure elective procedures but believes its biologics and drug delivery business will make up for any potential impact in the second half.
- FY21 Guidance: CLPT continues to estimate total case volume supported to 900 – 1000, with sales of $16 million - $17.5 million (consensus of $16.4 million).
- Price Action: CLPT shares are down 15.6% at $18.47 during the market session on the last check Wednesday.
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.
Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.
Rate collection and criteria: Click here for more information on rate collection and criteria.