MENLO PARK, Calif.--(BUSINESS WIRE)--Intersect ENT, Inc. (NASDAQ:XENT), a company dedicated to improving the quality of life for patients with ear, nose and throat conditions, today reported financial results for the fourth quarter and year ended December 31, 2016.
Fourth quarter 2016 revenue was $24.2 million, a 29% increase over the fourth quarter 2015. Full year 2016 revenue was $78.7 million, a 28% increase over the full year 2015.
Fourth quarter 2016 gross margin was 84% compared to 80% in the fourth quarter 2015. Full year 2016 gross margin was 83% compared to 80% in 2015.
“We are pleased to have delivered another strong year in 2016 both in terms of commercial success and pipeline progress, highlighted by positive results in two pivotal randomized clinical trials,” said Lisa Earnhardt, president and CEO of Intersect ENT. “We look forward to continuing to deliver innovative solutions to the ENT community in 2017 by expansion of PROPEL® use, bolstered by the frontal indication and the upcoming PROPEL® Contour launch, combined with pursuit of FDA approval of the RESOLVE product. Our long-term goal remains the treatment of chronic sinusitis patients across the continuum of care.”
Fourth quarter 2016 revenue was $24.2 million, a 29% increase over the fourth quarter 2015. Full year 2016 revenue was $78.7 million, a 28% increase over the full year 2015.
Fourth quarter 2016 gross margin was 84% compared to 80% in the fourth quarter 2015. Full year 2016 gross margin was 83% compared to 80% in 2015.
“We are pleased to have delivered another strong year in 2016 both in terms of commercial success and pipeline progress, highlighted by positive results in two pivotal randomized clinical trials,” said Lisa Earnhardt, president and CEO of Intersect ENT. “We look forward to continuing to deliver innovative solutions to the ENT community in 2017 by expansion of PROPEL® use, bolstered by the frontal indication and the upcoming PROPEL® Contour launch, combined with pursuit of FDA approval of the RESOLVE product. Our long-term goal remains the treatment of chronic sinusitis patients across the continuum of care.”
