NxStage Medical, Inc. reported that revenue in 2015 increased 11% to $336 million. Revue for the fourth quarter of 2015 grew 12% to a record $89.8 million, and exceeded which exceeded the top end of the company’s revenue guidance range of $86 to $87 million. Net loss attributable to NxStage Medical, Inc.’s stockholders was $2.7 million for the fourth quarter of 2015, compared with a net loss of $4.9 million for the fourth quarter of 2014. The net loss included $3.8 million of income from operations from the prroducts business.
NxStage said its performance improvements in both periods were driven by the products business, particularly outperformance in NxStage’s largest segment, the System One segment which consists of home and critical care markets. For the full-year 2015, System One revenue increased 16% to $247.8 million. Home revenue increased 16% to $182.6 million, exceeding the company’s target for 15% annual growth. Critical Care revenue increased 17% to $65.2 million.
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“It was a strong year for NxStage. We’re very pleased to again exceed our guidance on revenue, narrow our net loss and deliver a year of increasing profitability in our Products Business,” said Jeff Burbank, Founder and CEO of NxStage. “We have a rich portfolio of current products that are expected to drive continued growth within Home and Critical Care, our largest high growth markets, in 2016 and beyond. In addition, we continue to advance our innovative pipeline, including our next generation hemodialysis system, our new peritoneal dialysis (PD) system and our next generation critical care system. As we are beginning pilot production of our next generation hemodialysis system, we continue to align our assets and focus our execution in support of these tremendous long-term growth opportunities.”
The Company is forecasting revenue to be between $355 million and $360 million for the full fiscal year 2016, and between $87 million and $89 million for the first quarter of 2016. The company said it also expects a net loss in the range of $7 million to $12 million for the full fiscal year 2016, and a net loss in the range of $2 million to $4 million for the first quarter of 2016. The company’s net loss guidance for both periods reflects expectations for continued operating income from the products business offset by the company’s continued investment in NxStage Kidney Care.