Nuvectra Corp. (fka NVTRQ)

[Citrati]

Total revenue in the second quarter of 2018 was $13.1 million, an 82% increase from $7.2 million in the second quarter of 2017. Total Algovita sales were $11.5 million, a 110% increase from $5.5 million in the second quarter of 2017. Gross profit in the second quarter of 2018 was $6.9 million, or 53% gross margin, an increase from $3.7 million, or 51% gross margin, in the second quarter of 2017.

Operating expenses in the second quarter of 2018 were $17.7 million, a 23% increase from $14.4 million in the second quarter of 2017. The increase was primarily the result of an increase in sales personnel-related expenses as we have continued to increase sales of our Algovita product, as well as an increase in research, development and engineering personnel-related expenses and the timing of research project-related expenses.

Net loss for the second quarter of 2018 was $(11.8) million or $(0.83) per share, compared with a net loss of $(11.2) million, or $(1.07) per share, for the second quarter of 2017.

Total cash and cash equivalents were $43.7 million as of June 30, 2018.