Second Sight Medical Products

Second Sight Medical Products, Inc., located in Sylmar, California, is a privately held company founded in 1998 by Mr. Alfred Mann, Dr. Sam Williams and Gunnar Bjorg with the goal of creating a retinal prosthesis to provide sight to subjects blinded from outer retinal degenerations, such as retinitis pigmentosa. Second Sight currently employs over 85 employees and has a European office in Lausanne, Switzerland.

The first clinical trial (Argus I) began in 2002 (6 subjects in total). With the experience gained from the Argus I trial, and further technological developments, a second generation device was created – the Argus II. For this device, a two-patient pilot study was initiated in Mexico in 2006, followed by a 30-patient trial in 10 centers across Europe and the United States.

Type
Public
HQ
Los Angeles, US
Founded
1998
Size (employees)
118 (est)
Second Sight Medical Products was founded in 1998 and is headquartered in Los Angeles, US

Second Sight Medical Products Office Locations

Second Sight Medical Products has an office in Los Angeles
Los Angeles, US (HQ)
12477 San Fernando Rd

Second Sight Medical Products Data and Metrics

Second Sight Medical Products Financial Metrics

Second Sight Medical Products's revenue was reported to be $1 m in Q1, 2017
USD

Revenue (Q1, 2017)

1 m

Gross profit (Q1, 2017)

(118 k)

Gross profit margin (Q1, 2017), %

(12%)

Net income (Q1, 2017)

(7.5 m)

EBIT (Q1, 2017)

(7.6 m)

Market capitalization (21-Jul-2017)

59.1 m

Cash (31-Mar-2017)

266 k
Second Sight Medical Products's current market capitalization is $59.1 m.
USDFY, 2015FY, 2016

Revenue

9 m4 m

Revenue growth, %

(55%)

Cost of goods sold

5.3 m10.1 m

Gross profit

3.7 m(6.1 m)

Gross profit Margin, %

41%(153%)

General and administrative expense

8.2 m10.1 m

Operating expense total

23.7 m27.1 m

EBIT

(20 m)(33.2 m)

EBIT margin, %

(224%)(833%)

Interest income

2 k31 k

Net Income

(20 m)(33.2 m)
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Revenue

1.7 m2.7 m2.2 m1.1 k1 m1.2 m1 m

Cost of goods sold

1.3 m1.6 m757.1 k9123.2 m2.6 m1.1 m

Gross profit

404.3 k1.1 m1.5 m141(2.2 m)(1.4 m)(118 k)

Gross profit Margin, %

24%41%66%13%(213%)(122%)(12%)

General and administrative expense

1.7 m2 m2.4 m2.4 k2.6 m2.6 m2.7 m

Operating expense total

1.7 m2 m2.4 m2.4 k2.6 m2.6 m2.7 m

EBIT

(5 m)(4.9 m)(4.7 m)(5.8 k)(8.5 m)(8.5 m)(7.6 m)

EBIT margin, %

(292%)(186%)(209%)(553%)(820%)(720%)(749%)

Interest income

7963528453 k11 k7 k

Net Income

(5 m)(4.9 m)(4.7 m)(5.8 k)(8.5 m)(8.5 m)(7.5 m)
USDFY, 2015FY, 2016

Cash

239 k539 k

Accounts Receivable

1.5 m274 k

Inventories

1.1 m717 k

Current Assets

26.8 m15.3 m

PP&E

1.4 m1.5 m

Total Assets

28.2 m16.8 m

Accounts Payable

710 k1.2 m

Current Liabilities

8 m5.7 m

Additional Paid-in Capital

27.3 m30.7 m

Retained Earnings

(172.7 m)(205.9 m)

Total Equity

20.3 m11.1 m

Financial Leverage

1.4 x1.5 x
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Cash

652.3 k407.4 k268.7 k459184 k277 k266 k

Accounts Receivable

1.3 m1.2 m1.3 m822677 k447 k782 k

Inventories

6.4 m6.8 m8.1 m9.1 k7.4 m5.8 m3.1 m

Current Assets

38.4 m35.7 m31.9 m21.1 k32.5 m24.7 m28.6 m

PP&E

1 m1.1 m1.4 m1.4 k1.5 m1.5 m1.5 m

Total Assets

39.5 m36.9 m33.3 m22.6 k34.1 m26.3 m30.1 m

Accounts Payable

414.4 k330.4 k544.4 k707671 k694 k895 k

Current Liabilities

9 m8.8 m8.8 m6.6 k6 m5.7 m5.8 m

Additional Paid-in Capital

25.1 m25.7 m26.5 m28.3 k29 m29.9 m37.7 m

Retained Earnings

(157.6 m)(162.5 m)(167.2 m)(178.5 k)(187 m)(195.5 m)(213.4 m)

Total Equity

30.5 m28.1 m24.5 m15.9 k28.1 m20.6 m24.4 m

Financial Leverage

1.3 x1.3 x1.4 x1.4 x1.2 x1.3 x1.2 x
USDFY, 2015FY, 2016

Net Income

(20 m)(33.2 m)

Depreciation and Amortization

335 k432 k

Accounts Receivable

(793 k)955 k

Inventories

(2.5 m)10 k

Accounts Payable

197 k446 k

Cash From Operating Activities

(20.5 m)(25.1 m)

Purchases of PP&E

(762 k)(490 k)

Cash From Investing Activities

17.5 m4.9 m

Cash From Financing Activities

2.8 m20.5 m
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

Net Income

(5 m)(4.9 m)(4.7 m)(5.8 k)(8.5 m)(8.5 m)(7.5 m)

Accounts Receivable

1.3 m1.2 m1.3 m822677 k447 k782 k

Accounts Payable

414.4 k330.4 k544.4 k707671 k694 k895 k
USDY, 2017

Revenue/Employee

8.6 k

Financial Leverage

1.2 x

Second Sight Medical Products Operating Metrics

FY, 2016

Patents Pending

126

Patents Issued

381

Second Sight Medical Products Market Value History

Second Sight Medical Products Online and Social Media Presence

Second Sight Medical Products News and Updates

Second Sight Medical Products Company Life and Culture

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