ClearPoint Neuro, Inc. (NASDAQ:CLPT) Q3 2022 Earnings Conference Call November 8, 2022 4:30 PM ET
Company Participants
Joe Burnett - CEO
Danilo D’Alessandro - CFO
Conference Call Participants
William Wood - B. Riley
Frank Takkinen - Lake Street Capital
Operator
Greetings, and welcome to the ClearPoint Neuro, Inc. Third Quarter 2022 Financial Results Conference Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this call is being recorded.
Comments made on this call may include statements that are forward-looking within the meaning of securities laws. These forward-looking statements may include, without limitation, statements related to anticipated industry trends, the company's plans, prospects and strategies, both preliminary and projected and management's expectations, beliefs, estimates or projections regarding future results of operations. Actual results or trends could differ materially. The company undertakes no obligation to revise forward-looking statements for new information or future events.
For more information, please refer to the company's annual report on Form 10-K for the year ended December 31, 2021 and the company's quarterly report on Form 10-Q for the three months ended June 30, 2022, both of which have been filed with the Securities and Exchange Commission and the company's quarterly report on Form 10-Q for the three months ended September 30, 2022, which the company intends to file with the Securities and Exchange Commission on or before November 14, 2022. All the company's filings may be obtained from the SEC or the company's website at www.clearpointneuro.com.
It is now my pleasure to introduce Joe Burnett, Chief Executive Officer. Thank you, sir. You may begin.
Joe Burnett
Thank you, and thank you to all of our investors and analysts on today's call for being a part of the ClearPoint vision and journey. Our mission and our priorities are to help restore quality of life to patients and their families, who are suffering from some of the most debilitating neurological disorders imaginable. We cannot do this without your support.
In the third quarter of 2022, we continued to make progress across our four pillar growth strategy, including biologics and drug delivery, functional neurosurgery navigation, therapy and access products and in achieving global scale. Despite a continued high cancellation rate due to COVID, historically high surgeon transitions and daily supply chain and hospital staffing challenges, our team was able to achieve near record revenue of $5.1 million for the third [Technical Difficulty] representing 13% year-over-year growth.