ClearPoint Neuro Q1 revenue $7.6M (+41% YoY); biologics revenue $4.3M (+61%); cash burn down 32%

ClearPoint Neuro, Inc.

2024-Q1 EPS reported -$0.16 revenue$7,639,000

Record quarterly revenue of $7.6M, up 41% YoY; biologics/drug delivery revenue up 61% to $4.3M.
Capital equipment sales surged 255% to $1.4M; SmartFrame OR received 510(k) clearance and first clinical cases performed.
Activated 8 new hospital sites in Q1, a company record, bringing total active sites to over 80.
Operational cash burn reduced 32% to $3.8M; cash and equivalents totaled $35.4M after $16.2M public offering.
Reaffirmed FY2024 revenue outlook of $28M-$32M; first-ever neuro gene therapy BLA submitted by partner PTC Therapeutics.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

ClearPoint Neuro, Inc. reported the first quarter ended March 31, 2024 results: revenue $7.6 million. Guidance reaffirmed.

Period: the first quarter ended March 31, 2024
Revenue: $7.6 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

precise navigation to the brain and spine, today announced financial results for its first quarter ended March 31, 2024. First Quarter Highlights • Reported quarterly revenue of $7.6 million, a 41% year-over-year increase; • Increased biologics and drug delivery revenue to $4.3 million, a 61% year-over-year increase; • Partner PTC Therapeutics submitted first-ever

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Source: SEC EDGAR

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