January 19, 2017 11:18 AM ET

Healthcare Equipment and Supplies

Company Overview of Second Sight Medical Products, Inc.

Company Overview

Second Sight Medical Products, Inc. develops, manufactures, and markets implantable prosthetic devices to restore functional vision to blind patients in the United States, Canada, Italy, France, Germany, Saudi Arabia, and the Netherlands. It offers Argus II System, an implantable neurostimulation device that uses electrical stimulation of the retina to replace the function of the defunct photo-receptors in retinitis pigmentosa patients. The company sells its Argus II System to university hospitals, large medical centers, and distributors. The company was formerly known as Second Sight LLC. and changed its name to Second Sight Medical Products, Inc. Second Sight Medical Products, Inc. was fou...

Building 3

Suite 400

12744 San Fernando Road

Sylmar, CA 91342

United States

Founded in 1998

118 Employees

Phone:

818-833-5000

Fax:

818-833-5067

Key Executives for Second Sight Medical Products, Inc.

Chief Executive Officer, President and Director
Age: 53
Total Annual Compensation: $194.9K
Chief Financial Officer and Corporate Secretary
Age: 60
Total Annual Compensation: $266.4K
Vice President of European Operations
Age: 44
Total Annual Compensation: $234.2K
Vice President of Manufacturing
Age: 58
Total Annual Compensation: $219.4K
Compensation as of Fiscal Year 2015.

Second Sight Medical Products, Inc. Key Developments

Second Sight Medical Products, Inc. Presents at LD Micro Main Event 2016, Dec-07-2016 02:30 PM

Second Sight Medical Products, Inc. Presents at LD Micro Main Event 2016, Dec-07-2016 02:30 PM. Venue: Luxe Sunset Boulevard Hotel, 11461 Sunset Blvd, Los Angeles, CA 90049, United States. Speakers: Will McGuire, Chief Executive Officer, President and Director.

Second Sight Medical Products, Inc. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2016

Second Sight Medical Products, Inc. announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2016. For the quarter, the company reported net sales of $1,180,000 against $2,227,000 a year ago. Loss from operations was $8,499,000 against $4,662,000 a year ago. Net loss was $8,489,000 or $0.20 basic and diluted per share against $4,666,000 or $0.13 basic and diluted per share a year ago. Non-GAAP net loss was $6,481,000 or $0.15 per share compared to $3,723,000 or $0.10 per share a year ago. The decrease in revenue was driven by three primary factors: 1. the reduced U.S. CMS reimbursement rate for 2016; 2. the timing of revenue recognition due to certain deal terms, and 3. geographic mix of implants that favored EMEA in the current year, where the company historically have received a lower level of revenue per implant. For the nine months, the company reported net sales of $3,270,000 against $6,588,000 a year ago. Loss from operations was $22,827,000 against $14,571,000 a year ago. Net loss was $22,809,000 or $0.57 basic and diluted per share against $14,545,000 or $0.41 basic and diluted per share a year ago. Non-GAAP net loss was $17,411,000 or $0.44 per share compared to $12,394,000 or $0.35 per share a year ago. The decline in revenue was primarily driven by a reduction in global implant volumes, and a reduced revenue per unit, resulting from a lower U.S. CMS reimbursement rate for 2016.

Second Sight Medical Products, Inc. to Report Q3, 2016 Results on Nov 02, 2016

Second Sight Medical Products, Inc. announced that they will report Q3, 2016 results at 5:00 PM, Eastern Standard Time on Nov 02, 2016

Similar Private Companies By Industry

Company Name Region
.decimal, Inc. United States
20/20 GeneSystems, Inc. United States
20/20 Imaging LLC United States
21st Century Scientific, Inc. United States
21X Corporation United States

Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

The information and data displayed in this profile are created and managed by S&P Global Market Intelligence, a division of S&P Global. Bloomberg.com does not create or control the content. For inquiries, please contact S&P Global Market Intelligence directly by clicking here.

Stock Quotes

Market data is delayed at least 15 minutes.

Company Lookup

Most Searched Private Companies

Company Name Geographic Region
Lawyers Committee for Civil Rights Under Law United States
NYC2012, Inc. United States
Bertelsmann AG Europe
Rush University United States
Bloomberg L.P. United States

Sponsored Financial Commentaries

Sponsored Links

Request Profile Update

Only a company representative may request an update for the company profile. Documentation will be required.

To contact Second Sight Medical Products, Inc., please visit www.secondsight.com. Company data is provided by S&P Global Market Intelligence. Please use this form to report any data issues.

Please enter your information in the following field(s):
Update Needed*

All data changes require verification from public sources. Please include the correct value or values and a source where we can verify.

Your requested update has been submitted

Our data partners will research the update request and update the information on this page if necessary. Research and follow-up could take several weeks. If you have questions, you can contact them at bwwebmaster@businessweek.com.