Nevro Corp ( (NVRO) ) has released its Q3 earnings. Here is a breakdown of the information Nevro Corp presented to its investors.
Pick the best stocks and maximize your portfolio:
- Discover top-rated stocks from highly ranked analysts with Analyst Top Stocks!
- Easily identify outperforming stocks and invest smarter with Top Smart Score Stocks
Nevro Corp., based in Redwood City, California, is a global medical device company specializing in innovative solutions for chronic pain management, including its proprietary 10 kHz Therapy™ for spinal cord stimulation.
In its latest earnings report, Nevro Corp. announced a reaffirmation of its revenue guidance and an increase in its adjusted EBITDA guidance for the full year of 2024. The company also highlighted the launch of its AI-driven HFX AdaptivAI™ technology in the U.S. and the regulatory approval for its HFX iQ system in Europe.
For the third quarter of 2024, Nevro reported a worldwide revenue of $96.9 million, a 6.7% decrease compared to the same quarter in 2023. Despite this, the company managed to reduce its net loss from operations to $13.9 million, down from $25.6 million a year ago. Notably, Nevro achieved a $3.3 million increase in cash and short-term investments, attributed to strategic restructuring and efficient capital management.
Nevro’s strategic initiatives include the expansion of its product line with new market launches and a focus on diversifying its offerings. The company is actively exploring opportunities to accelerate growth and enhance shareholder value, signaling a commitment to maintaining its leadership in the pain management sector.
Looking ahead, Nevro maintains its full-year 2024 revenue guidance between $400 million to $405 million, while adjusting its EBITDA outlook to a less negative range. The company remains optimistic about driving sustainable growth through strategic market releases and continued operational improvements.
