Avedro, Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Provides Revenue Guidance for the Full Year of 2019
March 21, 2019 at 04:06 pm EDT
Share
Avedro, Inc. announced unaudited earnings results for the fourth quarter and full year ended December 31, 2018. For the quarter, the company reported revenue of $8,205,000 against $4,509,000 a year ago. Loss from operations was $4,672,000 against $5,927,000 a year ago. Net loss was $6,412,000 against $6,677,000 a year ago.
For the year, the company reported revenue of $27,672,000 against $20,154,000 a year ago. Loss from operations was $21,249,000 against $18,973,000 a year ago. Net loss was $25,122,000 against $21,277,000 a year ago. Net loss per basic and diluted share was $17.97 against $16.12 a year ago.
For the full year of 2019, the company expects revenue to be in the range of $36 million to $40 million, representing annual growth of approximately 37% at the midpoint of the range.
Avedro Inc is a United States-based company. The Company is an ophthalmic pharmaceutical and medical device company developing and commercializing a suite of products based on its corneal collagen cross-linking technology platform to address a wide variety of ophthalmic disorders and conditions, primarily associated with corneal weakness. Its primary components of the Avedro Cross-Linking Platform are pharmaceutical formulations of riboflavin (vitamin B2), a âsingle dose pharmaceutical,â sold primarily in conjunction with the Companyâs innovative devices for the delivery of metered doses of ultraviolet (UVA) light, a medical device.
Avedro, Inc. Announces Unaudited Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2018; Provides Revenue Guidance for the Full Year of 2019