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Jun 30, 2022
Neuropace Q2 2022 Earnings Report
NeuroPace's financial performance declined due to reduced EMU patient volumes and COVID-19 related cancellations.
Key Takeaways
NeuroPace reported a decrease in total revenue to $10.2 million, compared to $12.6 million in the prior year period. The company's net loss increased to $12.7 million, compared to a net loss of $8.5 million in the prior year period. Despite these challenges, the operating environment improved throughout the second quarter, with a positive trend continuing into the third quarter.
Announced exclusive U.S. distribution agreement with DIXI Medical to sell its stereo EEG electrodes to Epilepsy Monitoring Units (EMUs).
Completed sales team expansion initiative.
Began enrollment in the NAUTILUS study for primary generalized epilepsy.
Total revenue was $10.2 million for the second quarter of 2022.
Neuropace
Neuropace
Forward Guidance
NeuroPace provided financial guidance for 2022, including total revenue of $43 million to $45 million, initial implant revenue of $34 million to $36 million, replacement implant revenue of approximately $7.5 million, DIXI Medical revenue of approximately $1.5 million (expected in the fourth quarter of 2022), gross margin in the low 70% range, and total operating expenses of $74 million to $75 million.