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Dec 31, 2021
Neuropace Q4 2021 Earnings Report
Reported financial results for the fourth quarter and full year ended December 31, 2021.
Key Takeaways
NeuroPace reported a 2% increase in total revenue for Q4 2021, reaching $11.0 million, with initial implant revenue increasing by 10% to $8.5 million, while replacement implant revenue decreased by 19% to $2.5 million. The company's net loss for the quarter was $10.7 million, compared to a net loss of $4.6 million in the prior year period.
Total revenue for Q4 2021 was $11.0 million, a 2% increase year-over-year.
Initial implant revenue for Q4 2021 increased by 10% to $8.5 million.
Replacement implant revenue for Q4 2021 decreased by 19% to $2.5 million.
Net loss for Q4 2021 was $10.7 million, compared to a net loss of $4.6 million in the prior year period.
Neuropace
Neuropace
Forward Guidance
Management provided revenue guidance for Q1 2022 and full year 2022, taking a measured approach given the uncertainty surrounding COVID-19.
Positive Outlook
- Total revenue of $10 million to $11 million for Q1 2022
- Initial implant revenue of $8 million to $8.5 million for Q1 2022
- Total revenue of $45 million to $48 million for full year 2022
- Initial implant revenue of $39 million to $42 million for full year 2022
- Active implanting centers to increase approximately 10% compared to 2021
Challenges Ahead
- Uncertainty surrounding COVID-19, including the risk posed by new variants
- Potential impact of COVID-19 on hospital, physician and patient behavior
- Replacement implant revenue of $2 million to $2.5 million for Q1 2022
- Replacement implant revenue of approximately $6 million for full year 2022
- Total operating expenses of $74 million to $76 million for full year 2022, which includes approximately $8 million to $9 million of non-cash stock-based compensation expense