REDWOOD CITY, Calif.,
Jan. 14, 2020 /PRNewswire/
-- Nevro Corp. (NYSE: NVRO), a global medical device
company that is providing innovative, evidence-based solutions for
the treatment of chronic pain, today announced its preliminary
unaudited revenue for the fourth quarter and year ended
December 31, 2019. In addition,
the Company is providing its worldwide revenue guidance for the
full year 2020.
Fourth Quarter 2019
Preliminary unaudited fourth
quarter 2019 worldwide revenue is expected to be $114.4 million, compared to $107.9 million in the fourth quarter in the prior
year period. Preliminary unaudited fourth quarter 2019 U.S.
revenue is expected to be $97.9
million, compared to $91.6
million in the prior year period. Preliminary
unaudited fourth quarter 2019 international revenue is expected to
be $16.5 million, compared to
$16.3 million in the prior year
period. Fourth quarter U.S. trial procedure growth was 17%
and permanent implant procedure growth was 20%.
Full Year 2019
Nevro's preliminary unaudited full year
2019 worldwide revenue is expected to be $390.3 million, compared to $387.3 million in the prior year period.
Preliminary unaudited full year U.S. revenue is expected to be
$326.0 million, compared to
$321.8 million in the prior year
period. Preliminary unaudited full year international revenue
is expected to be $64.3 million,
compared to $65.5 million in the
prior year period.
Worldwide Revenue Guidance for Full Year 2020
Nevro
currently expects full year 2020 worldwide revenue to be in the
range of $435 to $440 million. The Company plans to provide
additional guidance metrics for 2020 when it reports its fourth
quarter and full year 2019 results in February.
About Nevro
Headquartered in Redwood City, California, Nevro is a global
medical device company focused on providing innovative products
that improve the quality of life of patients suffering from
debilitating chronic pain. Nevro has developed and commercialized
the Senza spinal cord stimulation (SCS) system, an evidence-based,
non-pharmacologic neuromodulation platform for the treatment of
chronic pain. HF10 therapy has demonstrated the ability to reduce
or eliminate opioids in ≥65% of patients across six peer-reviewed
clinical studies. The Senza® System, Senza II™ System,
and the Senza® Omnia™ System are the only SCS
systems that deliver Nevro's proprietary HF10® therapy.
Senza, Senza II, Senza Omnia, HF10, Nevro and the Nevro logo are
trademarks of Nevro Corp.
To learn more about Nevro, connect with us on LinkedIn, Twitter,
Facebook and Instagram.
Forward-Looking Statements
In addition to historical
information, this press release contains forward-looking statements
reflecting the current beliefs and expectations of management made
pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995, including the Company's expectations
for its fourth quarter and full year 2019 worldwide, U.S. and
international revenue; and its expectations for worldwide revenue
for the full year 2020. These forward-looking statements are based
upon information that is currently available to us or our current
expectations, speak only as of the date hereof, and are subject to
numerous risks and uncertainties, including our ability to
successfully commercialize our products; our ability to manufacture
our products to meet demand; the level and availability of
third-party payor reimbursement for our products; our ability to
effectively manage our anticipated growth; our ability to protect
our intellectual property rights and proprietary technologies; our
ability to operate our business without infringing the intellectual
property rights and proprietary technology of third parties;
competition in our industry; additional capital and credit
availability; our ability to attract and retain qualified
personnel; and product liability claims. These factors, together
with those that are described in greater detail in our Annual
Report on Form 10-K filed on February 21,
2019 and our Quarterly Report on Form 10-Q filed on
November 6, 2019, as well as any
reports that we may file with the Securities and Exchange
Commission in the future, may cause our actual results, performance
or achievements to differ materially and adversely from those
anticipated or implied by our forward-looking statements. We
expressly disclaim any obligation, except as required by law, or
undertaking to update or revise any such forward-looking
statements. Our preliminary operating results for the quarter and
full year ended December 31, 2019 are
subject to adjustment as we complete our year-end audit and other
processes and are not necessarily indicative of our operating
results for any future periods.
Investor Relations:
Juliet
Cunningham
Vice President, Investor Relations
+1 650-433-3247
ir@nevro.com
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SOURCE Nevro Corp.