Misonix Reports Record Third Quarter Revenue

Misonix (Nasdaq:MSON) a provider of minimally invasive therapeutic ultrasonic medical devices that enhance clinical outcomes, today reported financial results for the third quarter of fiscal year 2018 ended March 31, 2018 as summarized below:

As quoted in the press release:

Stavros Vizirgianakis, President and Chief Executive Officer of Misonix, stated, “Misonix delivered solid financial results in the 2018 fiscal third quarter, including our second consecutive quarter of record revenue. The successful ongoing execution of our strategies to aggressively grow our leading ultrasonic medical device platform is providing Misonix with a solid foundation to continue expanding market share domestically as well as abroad. Importantly, our strong performance reflects our ability to achieve top line growth, while preserving healthy margins and maintaining a strong balance sheet and liquidity position, which allows us to continue making return-focused growth investments, including the development of our next generation of products.

“Our record third quarter revenue of $12.4 million includes $4 million of license revenue related to an agreement with a Chinese partner. In addition to the license revenue, we generated continued revenue growth across domestic and international markets, both on a quarterly and on a nine-month basis, as well as ongoing growth in both consumables and sales of our core products. Misonix’s strong revenue growth reflects growing market demand for our products, resulting in a 17% growth in product revenue for the quarter and a 24% increase year to date. We are also very pleased to see our consumables business continue its double-digit revenue growth trajectory, something the team has been laser focused on given the high margins and added predictability of this revenue stream. Excluding license revenue, consumables accounted for 70% of total sales for the quarter, including 88% of domestic sales.

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