Q: Can you provide some additional color on what assumptions are being factored into your current guidance range based on the commercial experience you saw in 1Q? A: Joel Becker, CEO of Neuropace, explained that the guidance considers the strong performance across product lines and includes various ongoing activities such as organizational expansion and care activities. Despite some headwinds, particularly in the replacement cycle, the guidance reflects a comprehensive view of expected business performance for the year.
Q: You maintained the same guidance range for the year despite a strong Q1. Is there anything in Q2 that's giving you pause about potentially raising the guidance range? A: Joel Becker, CEO, stated that the guidance issued reflects both Q1 performance and projections for the rest of the year. The company remains cautious due to some expected headwinds, despite the strong start in Q1.
Q: Could you give more details on the new prescribers? Are they from existing sites with new users, or are they entirely new sites? A: Joel Becker, CEO, indicated that new prescribers come from both existing and new centers, with a significant portion being new users at centers where Neuropace is already present.
Q: What drove the gross margin beat this quarter, and why not raise the gross margin guide for the year? A: Rebecca Kuhn, CFO, attributed the improved gross margin to increased production and sales of RNS units, which allowed fixed overhead costs to be spread over more units. Contributions from a biotech collaboration also positively impacted the margins.
Q: Can you discuss the progress and expectations for the pilot programs under Project Care? A: Rebecca Kuhn, CFO, detailed that the pilot programs involve professional education and commercial activities aimed at integrating RNS therapy into new centers. Metrics to track progress include the development and execution pipeline for each center, focusing on education, patient identification, and implant rates.
Q: How should we think about the cadence of revenue throughout the year, given the strong start in Q1? A: Joel Becker, CEO, noted that while the company does not guide quarterly, certain periods like summer and end-of-year holidays could impact revenue cadence. However, various business activities might offset these seasonal effects.
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
https://finance.yahoo.com/news/neuropace-inc-npce-q1-2024-074740801.html
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