The Redwood City, Calif.-based company posted a net loss of -$28 million on sales of $93.6 million for the three months ended June 30. Compared with the same period last year, Nevro’s revenue fell 3% this quarter.
Earnings per share were -91¢, ahead of consensus on Wall Street, where analysts were looking for sales of $88.4 million.
“Our second quarter 2019 financial results demonstrate sequential improvement across the board, as well as some encouraging early signs of progress in our commercial execution, including patient treatment activity with our customers. In the U.S., we saw a year-over-year increase in patient trial procedures of 15%, while permanent implant procedures grew 10% over the prior year period,” chairman, CEO & president D. Keith Grossman said in prepared remarks.
“I remain confident that as we continue to refine our commercial strategies and execution, prepare for our upcoming new product launches and drive interest in HF10 therapy, we will be well-positioned to enter our next phase of growth as we move into late 2019 and enter 2020,” Grossman added.
Nevro said it expects to post revenues between $368 – $374 million for the full year. NVRO shares were trading at $73.98 apiece today in afternoon activity, up 17%.