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Mar 31, 2021
Neuropace Q1 2021 Earnings Report
NeuroPace's financial performance for Q1 2021 was reported, demonstrating growth in revenue and initial implant revenue.
Key Takeaways
NeuroPace reported a 12% increase in total revenue, reaching $11.2 million, and a 23% increase in initial implant revenue, totaling $8.1 million for the first quarter of 2021. The company completed an initial public offering, raising approximately $105 million in net proceeds and issued 2021 total revenue guidance of approximately $47 million, representing 14% growth compared to 2020.
Total revenue reached $11.2 million, a 12% increase year-over-year.
Initial implant revenue increased by 23% to $8.1 million compared to the prior year.
The company successfully completed an IPO, raising approximately $105 million.
2021 total revenue guidance is approximately $47 million, representing 14% growth.
Neuropace
Neuropace
Forward Guidance
NeuroPace provided financial guidance for the full year 2021, projecting total revenue of approximately $47 million, representing 14% growth compared to the prior year period.
Positive Outlook
- Total revenue of approximately $47 million, representing growth of 14% compared to prior year period.
- Initial implant revenue of approximately $36 million, representing growth of 29% compared to prior year period.
- Initial implant revenue guidance of $36 million includes a small clinical study revenue contribution.
Challenges Ahead
- Ongoing challenges and uncertainties due to the COVID-19 pandemic and its impact on physician and patient behavior
- Replacement implant revenue of approximately $11 million, representing a decline of 16% compared to prior year period.