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Mar 31, 2022
Neuropace Q1 2022 Earnings Report
Reported financial results for the quarter ending March 31, 2022.
Key Takeaways
NeuroPace reported total revenue of $11.4 million for Q1 2022, a slight increase from $11.2 million in the prior year period. Initial implant revenue was $8.8 million, while replacement implant revenue was $2.6 million. The company's net loss for the quarter was $11.5 million.
Total revenue for Q1 2022 was $11.4 million.
Initial implant revenue for Q1 2022 was $8.8 million.
Replacement implant revenue for Q1 2022 was $2.6 million.
Company is on track to enroll first patients in NAUTILUS trial for generalized epilepsy indication expansion around the middle of the year.
Forward Guidance
NeuroPace provides financial guidance for 2022, including total revenue of $45 million to $48 million and gross margin in the mid-70% range.
Positive Outlook
- Total revenue of $45 million to $48 million
- Initial implant revenue of $39 million to $42 million
- Centers actively implanting the RNS System to increase approximately 10% compared to 2021
- Replacement implant revenue of approximately $6 million
- Gross margin in the mid-70% range
Challenges Ahead
- Total operating expenses of $74 million to $76 million, which includes approximately $8 million to $9 million of non-cash stock-based compensation expense
Historical Earnings Impact
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Avg. Return Before/After Earnings
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