ClearPoint Cuts Outlook as Revenue Growth Slows
Second-quarter revenue rose 18% to $10.9 million as drug-delivery sales weakened.
ClearPoint Neuro (CLPT), the neurosurgery technology company, lowered its annual revenue outlook after second-quarter growth decelerated and biologics sales declined.
Revenue fell about 10% from the first quarter’s record $12.1 million, interrupting a run of sequential gains, though it remained about 5% above the fourth-quarter level. Year-over-year growth slowed from 43% in the first quarter and 34% in the fourth quarter.
Neurosurgery navigation and therapy remained the main growth driver, with revenue rising 62% from a year earlier to $5.6 million. The increase was due to IRRAflow and higher procedural volumes following the launch of its operating-room navigation software 3.0. The segment declined about 5% sequentially, and its annual growth rate eased from 80% in the first quarter.
Biologics and drug-delivery revenue fell 15% to $4.0 million and declined about 17% from the first quarter. The contraction was due to a single-customer product order in the year-earlier period that did not recur and fewer shipments supporting new trial initiations. Higher preclinical-services revenue partly offset those declines.
Gross margin widened two percentage points from a year earlier to 62%, helped mainly by lower excess and obsolete inventory, while narrowing from 64% in the first quarter. Operating expenses climbed 51% to $17.0 million as the IRRAS acquisition added personnel, occupancy and travel costs. The operating loss widened to $10.2 million, and the net loss nearly doubled to $11.3 million, or $0.38 a share.
ClearPoint now expects 2026 revenue of $48 million to $52 million, down from its previous forecast of $52 million to $56 million. Investment has shifted toward clinical support, CAL equipment, global regulatory expansion, focused ultrasound, robotics and Harmony software. Management expects the newly occupied CAL facility to return the biologics segment to growth in the third quarter.
The company took possession of the CAL facility and signed its first statement of work for an IND-enabling study involving GLP services, expected during the first half of 2027. It also announced a 10-year focused-ultrasound drug-delivery partnership with SONOCARE Lab and reported preclinical proof of concept for delivering an intravenous tracer across the blood-brain barrier.
Cash and cash equivalents declined to $29.4 million from $35.6 million at the end of March and $45.9 million at year-end, after first-half operating cash use of $15.0 million. Management expects operating cash burn to decrease in the second half as ClearPoint reorganizes its commercial structure around installed-base expansion and clinical-case capacity.