Nevro (NYSE:NVRO) reported fourth-quarter results today that beat the consensus forecast on Wall Street.
The Redwood City, Calif.-based company reported losses of -$13.7 million, or -44¢ per share, on sales of $114.3 million for the three months ended Dec. 31, 2019, for sales growth of 5.9% compared with Q4 2018.
Earnings per share were -44¢, 19¢ ahead of The Street, where analysts were looking for sales of $111.8 million.
“Beginning in the second quarter, we started driving quite a few changes to our commercial strategies and execution, and we quickly saw patient trials and permanent implants return to growth,” CEO and president Keith Grossman said in a news release.
“More recently, we launched Senza Omnia commercially in the U.S., which allowed us to engage more constructively with our customers and offer them the only SCS platform that can provide the unique advantages of HF10 as well as the full range of SCS frequencies. Just last month, we presented encouraging three-month data from our Senza-PDN study, which was the largest SCS RCT conducted to date. I am pleased with the progress we made in 2019 and am excited by the momentum we are building in the market and the opportunity ahead of us in 2020.”
Nevro reiterated its full-year 2020 guidance, state revenue is projected to be in the range of $435 million to $440 million.
Shares in NVRO were up 8.55% to $143.79 apiece in mid-morning trading.