Clearpoint Neuro (CLPT) Q2 2021 earnings summary

Executive summary

• Q2 revenue rose 38% YoY to $3.4 million; clinical specialists supported a record 249 cases, up 98% YoY.

• Record case volume returned to pre-pandemic levels a quarter ahead of schedule; biologics and drug-delivery partners resumed lab work and clinical-trial enrollment.

Financial highlights

• Q2 total revenue was $3.4 million vs. $2.5 million YoY; gross profit was $2.290 million vs. $1.676 million.

• Q2 net loss was $3.743 million vs. $1.661 million YoY; basic and diluted loss per share was $0.17 vs. $0.11.

• H1 revenue was $7,443 thousand vs. $5,593 thousand; H1 net loss was $6,281 thousand vs. $3,716 thousand, and loss per share was $0.31 vs. $0.24.

• Q2 R&D expense rose 161% YoY to $2.1 million; sales and marketing rose 42% to $1.6 million, and G&A rose 63% to $2.0 million.

Outlook and guidance

• FY2021 revenue estimate remained $16.0–$17.5 million; expected clinical case volume remained 900–1,000.

• Development and production programs announced in February remained on schedule, with planned timelines and key milestones intact.