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 full-year ended December 31, 2020.
Fourth Quarter 2020
Preliminary, unaudited fourth quarter 2020 worldwide revenue is expected to be $109.7 million, compared to $114.4 million in the fourth quarter in the prior year period. Preliminary, unaudited fourth quarter 2020 U.S. revenue is expected to be $94.6 million, compared to $97.9 million in the prior year period. Preliminary, unaudited fourth quarter 2020 international revenue is expected to be $15.1 million, compared to $16.5 million in the prior year period. Fourth quarter U.S. trial procedures were down approximately 8% versus prior year.
Full-Year 2020
Nevro's preliminary, unaudited full year 2020 worldwide revenue is expected to be $362.0 million, compared to $390.3 million in the prior year period. Preliminary, unaudited full year U.S. revenue is expected to be $311.9 million, compared to $326.0 million in the prior year period. Preliminary, unaudited full year international revenue is expected to be $50.2 million, compared to $64.3 million in the prior year period.
"Despite the challenges created by the COVID-19 pandemic in 2020, I am extremely proud of the significant efforts of the Nevro team to serve our customers and patients, and execute on our plans for the future," said D. Keith Grossman, Chairman, CEO and President of Nevro. "In the second half of the fourth quarter, the increase in COVID activity negatively affected both trial and permanent implant volumes. Even with the pandemic challenges throughout the year, we continued to capture share in the core lower back and leg pain market with our best-in-class SCS technology, superior clinical data and sharpened execution. I believe we are well positioned for attractive growth when the pressure of COVID on our business subsides. In addition, we are excited about expanded growth opportunities to treat Painful Diabetic Neuropathy and Non-Surgical Refractory Back Pain, which will bring our HF10 therapy to the many patients who are unable to find relief with currently available treatment options."
Nevro plans to report its full financial results and provide more detail for its fourth quarter and full-year 2020 financial results after the market closes on Wednesday, February 24, 2021, to be followed by its quarterly conference call at 1:30 pm Pacific Time that day.
Nevro to Present at J.P. Morgan Healthcare Conference
D. Keith Grossman, Chairman, CEO and President of Nevro, will present at the J.P. Morgan Healthcare Conference on Tuesday, January 12, 2021, at 4:30 pm Eastern Time / 1:30 pm Pacific Time. A live webcast of this event, as well as an archived recording, will be available in the Investors section of Nevro's website at www.nevro.com.
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