Novadaq Q4 revenue to jump about 54%

Novadaq Technologies (NASDAQ:NVDQ; TSX:NDQ) has released preliminary unaudited revenue for the fourth quarter of 2015 of approximately $20-million, reflecting increases of about 54% from $13-million in the 2014 fourth quarter and 18% sequentially over $17-million in the third quarter last year.

For all of 2015, the company anticipates total revenues to be approximately $63.8-million, representing total year-over-year revenue growth of about 37%.

The company currently expects to report final 2015 financial results in February.

“As demonstrated by our sales performance in 2015, we have started moving from market creation into the adoption phase for SPY fluorescence imaging,” Arun Menawat, president and CEO, said in a statement. “Moving into 2016, we expect that growth trajectory to continue.”

Based on the company’s business planning and budgeting activities, Novadaq expects revenue for all of 2016 to be in the approximate range of $84-million to $86-million, representing total year-over-year revenue growth of between 32% and 35%.