MRI Interventions posts strong revenue gains in Q3

By AuntMinnie.com staff writers

November 13, 2019 -- Sales gains in its biological and drug delivery business contributed to a 62% increase in revenue for MRI Interventions in its third quarter.

For the period (end-September 30), MRI Interventions had record revenue of $2.9 million, up from $1.8 million in the third quarter of 2018. The company had a net loss of $1.1 million, compared with a net loss of $1.4 million a year ago.

In quarterly highlights, functional neurosurgery revenue climbed 28% to reach $1.9 million, while biologics and drug delivery revenue surged 188% to $564,000. In addition, therapy revenue increased to $64,000 and capital equipment sales and related service revenue grew 144% to $395,000. MRI Interventions now has 57 active surgical centers in its client base.

The firm said it also supported a record 233 cases during the third quarter, up 33% from the 175 supported in the third quarter last year.


Copyright © 2019 AuntMinnie.com
 

To read this and get access to all of the exclusive content on AuntMinnie.com create a free account or sign-in now.

Member Sign In:
MemberID or Email Address:  
Do you have a AuntMinnie.com password?
No, I want a free membership.
Yes, I have a password:  
Forgot your password?
Sign in using your social networking account:
Sign in using your social networking
account: