Nevro Corp. Provides Financial Guidance for the Fourth Quarter of 2022 and for Full-Year 2022 and 2023
January 09, 2023 at 06:01 am
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Nevro Corp. provided financial guidance for the fourth quarter of 2022 and for full-year 2022 and 2023. The company currently expects full-year 2023 worldwide revenue of approximately $445 million to $455 million, an increase of 10% to 12% over prior year. This full-year 2023 guidance includes approximately $75 million to $85 million of PDN revenue, an increase of 56% to 77% over prior year. This guidance assumes the full year of 2023 will see a steady recovery and includes no significant business impact from new COVID variants or waves and its related impacts on patient willingness to seek elective care, and near-term improvement in healthcare facility restrictions and steady improvement in healthcare facility staffing limitations.
Nevro's preliminary, unaudited full-year 2022 worldwide revenue is expected to be approximately $406.4 million, an increase of 5% as reported or an increase of 7% on a constant currency basis, compared to $386.9 million for full-year 2021. Worldwide revenue for 2022 includes approximately $48.0 million of revenue for PDN, compared to $5.7 million for full-year 2021. Preliminary, unaudited full-year U.S. revenue is expected to be approximately $348.2 million, reflecting growth of 7% over $326.2 million in the prior year period. Preliminary, unaudited full-year international revenue is expected to be approximately $58.2 million, a decrease of 4% as reported or an increase of 6% on a constant currency basis, compared to $60.7 million in the prior year period.
Preliminary, unaudited fourth quarter 2022 worldwide revenue is expected to be approximately $113.8 million, an increase of 11% as reported and 12% on a constant currency basis, compared to $102.8 million in the fourth quarter of 2021. PDN represented approximately $17.3 million in revenue and 16% of worldwide permanent implant procedures in the fourth quarter of 2022. Preliminary, unaudited fourth quarter 2022 U.S. revenue is expected to be approximately $99.8 million, reflecting growth of 13% over $88.4 million in the fourth quarter of 2021. Fourth quarter U.S. trial procedures were up approximately 9% versus prior year. Fourth quarter U.S. PDN trial procedures represented approximately 20% of total U.S. trial volume and grew approximately 15% sequentially over the third quarter of 2022. Preliminary, unaudited fourth quarter 2022 international revenue is expected to be approximately $14.1 million, a decrease of 2% as reported or an increase of 9% on a constant currency basis, compared to $14.3 million in the fourth quarter of 2021.
Nevro Corp. is a global medical device company. The Company is focused on delivering solutions that continue to set the standard for enduring patient outcomes in chronic pain treatment. Its comprehensive HFX spinal cord stimulation 3 (SCS) platform includes the Senza SCS system and support services for the treatment of chronic pain of the trunk and limb and painful diabetic neuropathy. It has developed and commercialized its HFX spinal cord stimulation (SCS) platform, which includes the Senza SCS system, an evidence-based neuromodulation system for the treatment of chronic pain, with the Senza HFX iQ platform. Its HFX solution delivers a range of waveforms, including its paresthesia-free 10 kHz Therapy. Its 10 kHz Therapy is designed to deliver neuromodulation solutions for treating chronic pain. Its products include Senza II SCS System, Senza Omnia SCS System, Senza Omnia upgrade, Omnia Powered by HFX Connect, Senza HFX iQ System, and Surpass Surgical Lead.