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Sep 30, 2021
Neuropace Q3 2021 Earnings Report
NeuroPace's revenue decreased by 19% year-over-year due to COVID headwinds, but the fundamentals of the business remained strong.
Key Takeaways
NeuroPace reported a total revenue of $10.3 million for Q3 2021, a 19% decrease compared to the prior year period. The decrease was attributed to COVID-19 related headwinds. The company continues to make progress toward increasing the market opportunity. Management provided updated full-year 2021 guidance.
Total revenue was $10.3 million, a 19% decrease year-over-year.
Initial implant revenue was $7.8 million, a 15% decrease year-over-year.
Gross margin was 72.6%, compared to 75.0% in the prior year period.
Net loss was $8.1 million, compared to a net loss of $4.1 million in the prior year period.
Forward Guidance
Management continues to take a measured approach given the uncertainty surrounding COVID-19, including the risk posed by new variants and the potential impact on hospital, physician and patient behavior.
Positive Outlook
- Total revenue of $44 to $44.5 million, representing growth of 7% to 8% compared to prior year.
- Initial implant revenue of $33 to $33.5 million, representing growth of 18% to 20% compared to prior year.
Challenges Ahead
- Replacement implant revenue of approximately $11 million, representing a decline of 16% compared to prior year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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