This excerpt taken from the NUVA 10-Q filed Nov 10, 2005.
From inception to September 30, 2005, we have recognized $119.1 million in revenue from sales of our products. Our revenues are derived from the sale of medical products in two principal categories:
The majority of our revenues are derived from the sale of disposables and implants and we expect this trend to continue in the near term. To date we have derived less than 5% of our total revenues from the sale of MAS instrument sets, MaXcess, and NeuroVision systems. We do not expect these sales to contribute significantly to our revenues in the future because we intend to continue to (i) loan NeuroVision, MaXcess and Implant systems
to hospitals and surgeons who purchase our disposables and implants for use in individual procedures or (ii) place NeuroVision, MaXcess and Implant systems with hospitals for an extended period at no up-front cost to them provided they commit to minimum monthly purchases of our disposables and implants. In the event a hospital or surgeon does not meet its minimum monthly purchase commitments, our sole remedy is to remove our products.
Our implants and disposables are sold and shipped from our facility or from limited disposable inventories stored at our distributors sites. We invoice hospitals a fee for using certain instruments and for any disposables or implants upon receiving notice of product use or implantation. For NeuroVision, we generally place the system in hospitals free of charge and allow it to remain on-site provided the hospital orders a minimum monthly quantity of our nerve avoidance disposable products. In addition, we have a program pursuant to which we loan, from a pool of fixed assets, NeuroVision, MaXcess and Implant systems to hospitals without charge to support individual surgical procedures. We derive revenue from the sales of disposables and/or implants used in these procedures often at a premium price when the system is loaned rather than purchased.
This excerpt taken from the NUVA 10-Q filed Aug 12, 2005.
From inception to June 30, 2005, we have recognized $104.0 million in revenue from sales of our products. Our revenues are derived from the sale of medical products in two principal categories:
This excerpt taken from the NUVA 10-Q filed May 12, 2005.
Total revenues. Total revenues increased $5.5 million, or 72%, from $7.6 million in the first three months of 2004 to $13.1 million in the first three months of 2005.
MAS. MAS revenue increased $5.1 million, or 107%, from $4.8 million in the first three months of 2004 to $9.9 million in the first three months of 2005. The increase is attributable to continued market acceptance of our MAS products, including MaXcess and NeuroVision disposables, and purchases of our MAS implants. MAS revenue accounted for 76% of total revenues in the first three months of 2005 compared to 63% of total revenues in the first three months of 2004. We expect our MAS products will continue to be a significant contributor of our total revenue for the foreseeable future, which is consistent with our strategy.
Classic Fusion. Classic fusion revenue increased $357,000, or 13%, from $2.8 million in first three months of 2004 to $3.1 million in the first three months of 2005. The increase in classic fusion revenues was primarily due to increased sales of lumbar allograft. We currently expect that demand for our allograft will continue at or near the present level, but the associated revenue may decrease as a relative percentage of our total revenues. Classic fusion revenue accounted for 24% of total revenues in the first three months of 2005 compared to 37% of total revenues in the first three months of 2004.
This excerpt taken from the NUVA 10-K filed Mar 31, 2005.
Total revenue from our products increased from $12.3 million in 2002 to $22.7 million in 2003. These increases reflect an increased focus on commercializing our products. We released additional products in our MAS and classic fusion product lines during this time period which contributed to the increase in revenues.
The increase in revenues in 2003 over 2002 of $10.4 million resulted primarily from an additional $6.8 million in sales of our MAS products, principally our NeuroVision disposables, and an additional $3.6 million in sales of our classic fusion products, which included new product releases of additional implants in the second half of the year contributing $253,000. Our NeuroVision product software platform was upgraded during 2003 allowing us to add additional capabilities to our lumbar and cervical applications. During the fourth quarter of 2003, we launched our new minimally invasive spine surgery products under the product name MaXcess. MaXcess sales were not material to our MAS sales for 2003; however, we expect that through the usage of our MaXcess instrument systems, it will create the pull through of our specialized implants, resulting in significant contributions to our future MAS product