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Sep 30, 2020
Nevro Q3 2020 Earnings Report
Worldwide revenues increased and company planned to submit PDN PMA Supplement to FDA.
Key Takeaways
Nevro Corp. reported an 8% increase in worldwide revenue for Q3 2020, reaching $108.5 million compared to $100.2 million in the prior year period. The company is planning to submit its PMA Supplement to the FDA in the fourth quarter of 2020.
Worldwide revenue increased by 8% to $108.5 million compared to the prior year period.
U.S. revenue increased by 8% to $90.9 million compared to the prior year period.
International revenue increased by 10% to $17.5 million compared to the prior year period.
Net loss from operations improved by 78% to $3.5 million compared to a loss of $16.0 million in the prior year period.
Nevro
Nevro
Forward Guidance
The Company expects roughly flat Q4 2020 revenues compared to the similar prior year period.
Positive Outlook
- Company expects to present the next round of complete six-month PDN data, along with a preview of 12-month responder rate data, at NANS in January of 2021.
- Company plans to submit the PDN-related PMA Supplement to the FDA in the fourth quarter of 2020.
- Company plans to commercially launch in the second half of 2021.
- Company plans to present the NSRBP study three-month data at NANS 2021 with journal publications thereafter.
Challenges Ahead
- Increases in COVID activity around the world could provide some downward pressure.
- Further pressure on facility capacity could provide some downward pressure.
- Patient willingness to seek care could provide some downward pressure.