ClearPoint Neuro, Inc. announced its financial results for the third quarter ended September 30, 2024, reporting quarterly revenue of $8.1 million. This represents a substantial 41% increase year-over-year, demonstrating strong top-line growth for the company.
The company's navigation and device revenue, driven by the SmartFrame OR™ platform and ClearPoint Prism® Laser Therapy System, surged by 53% year-over-year to $2.9 million. Overall product revenue, which includes biologics and drug delivery, more than doubled, growing 127% to $5.5 million.
ClearPoint Neuro also activated five new global centers during the quarter, bringing the year-to-date total to 19 new centers, which is approximately three times its historic activation rate. Furthermore, the company fully repaid its $10 million convertible note, leaving it with no outstanding debt as of September 30, 2024, and reduced its quarterly operational cash burn by 33% year-over-year to $1.2 million, with cash and cash equivalents totaling $21.6 million.
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