Nevro Q3 2024 Earnings Report
Key Takeaways
Nevro reported a decrease in worldwide revenue by 6.7% to $96.9 million in Q3 2024 compared to Q3 2023. Despite the revenue decline, the company reaffirmed its full-year revenue guidance and raised its adjusted EBITDA guidance. The company is focused on strategic options to accelerate growth and diversify its product portfolio.
Worldwide revenue decreased by 6.7% to $96.9 million, or 7.0% on a constant currency basis.
U.S. revenue was $83.9 million, down 6.5% year-over-year, with U.S. trial procedures down 15.2%.
Net loss from operations was $13.9 million, while adjusted EBITDA was negative $1.8 million.
Cash, cash equivalents, and short-term investments totaled $277.0 million as of September 30, 2024, an increase of $3.3 million from June 30, 2024.
Nevro
Nevro
Forward Guidance
Nevro expects full-year 2024 worldwide revenue to be in the range of approximately $400 million to $405 million and is raising its full-year 2024 adjusted EBITDA guidance to a range of negative $18 million to negative $16 million.
Positive Outlook
- Full-year 2024 worldwide revenue expected to be $400 million to $405 million.
- Full-year 2024 adjusted EBITDA guidance raised to a range of negative $16 million to negative $18 million.
Challenges Ahead
- U.S. SCS trialing growth rate in the fourth quarter of 2024 does not improve from the third quarter of 2024.