Cytori Therapeutics (CYTX) Updates on Prelim. Q4, FY14 Cash Burn, Revenue; Offers FY15 Outlook

Cytori Therapeutics (NASDAQ: CYTX) provided a business and financial performance update in its presentation at the Cowen and Company 35th Annual Health Care Conference in Boston today. The corporate presentation includes certain top-line preliminary unaudited financial results for the quarter and full year ended December 31, 2014 and select performance guidance for the full-year 2015.

• Preliminary cash and debt balances at December 31, 2014 of approximately $14.6 million and $25 million, respectively.
• Preliminary Q4 and full-year 2014 operating cash burn of approximately $4.9 million and $30.3 million; respectively.
• Preliminary Q4 and full-year 2014 product revenue of approximately $2.5 million and $5.0 million, respectively. (The Street is looking for Q4 revenue of $2.46 million and FY14 revenue of $8.96 million, though the numbers may not compare with preliminary results from CYTX.)
• Preliminary Q4 and full-year 2014 contribution (profit/loss) from our sales and marketing organization, excluding share based compensation, of a profit of approximately $44 thousand and a loss of approximately $3.9 million, respectively.
• Preliminary Q4 and full-year 2014 contract revenue of approximately $1.3 million and $2.6 million, respectively.
• Estimation of 2015 operating cash burn of approximately $25 million.
• Full-year 2015 product revenue expected to be within a range from $5 million and $8 million.
• Full-year 2015 contribution (profit/loss) from our sales and marketing organization, excluding share based compensation, expected to be a profit ranging from $100 thousand and $300 thousand.
• Full-year 2015 contract revenue expected to be within a range from $6 million and $8 million.

"During 2014, we were able to combine expense reductions with continued achievement of our business objectives. For example, we reduced our quarterly operating cash burn from a high of $9.2 million in Q2 2014 to $4.9 million in Q4 2014 and restructured our sales and marketing organization to essentially breakeven by Q4 2015," said Dr. Marc H. Hedrick, President and Chief Executive Officer. "Our team has made good progress over the year in a number of areas and the business and interim financial data presented today show more clearly the direction in which we intend to head and our outlook for 2015."

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