Knee surgery must be popular these days.
Second-quarter revenue came in at $18.6 million, leaving the analysts' estimate of $16.1 million in the dust. That’s an 81% revenue jump from last year, in case you weren't counting. The company continues to operate at a loss, but I think that revenue growth is more important at this stage in the game.
So long as the company's MAKOplasty procedures keep gaining traction, revenue and earnings will inevitably follow suit. The number of procedures performed in the second quarter rose by 96% to 1,557 compared with last year. MAKO's Robotic Arm Interactive Orthopedic System, known as RIO, now has a total worldwide installed base of 86 systems, including 12 that were sold this past quarter.
See any similarities with classic disrupter Intuitive Surgical
Who stands to lose as MAKO gains ground? Johnson & Johnson
MAKO is putting on a good showing with its growth in revenue, installed base, and procedures performed. Shares are pretty bouncy, as this is a somewhat speculative investment that hasn't turned a profit yet, but if you can stomach the ride, I think shares are in store for higher ground.