Nevro Corp’s Preliminary Revenue Results for 2024 Show Mixed Trends Amid Strategic Growth Plans
On January 13, 2025, Nevro Corp. (NYSE: NVRO), a leading global medical device firm specializing in innovative treatments for chronic pain, announced preliminary unaudited revenue results for the fourth quarter and full year of 2024. Despite facing some challenges reflected in lower revenue figures compared to the previous year, the company reported significant improvements in cash and short-term investments, signaling positive operational adjustments and a focus on strategic growth.
In its latest financial forecast, Nevro estimated that its worldwide revenue for the final quarter of 2024 would be approximately $105 million to $106 million. This represents a decrease of about 9% to 10% when compared to the same quarter in 2023. Furthermore, U.S. revenue for the fourth quarter is anticipated to fall within the range of $91 million to $92 million, echoing the downward trend observed across the board.
For the entire year, Nevro expects its worldwide revenue to amount to around $408 million to $409 million. This figure reflects an annual decline of roughly 4% relative to 2023. On a positive note, the total cash, cash equivalents, and short-term investments are projected to have increased by approximately $15.5 million from the previous quarter, reaching an estimated $292.5 million by the end of December 2024.
The highlights of Nevro's financial performance reveal a mixed bag. CEO Kevin Thornal expressed optimism regarding the 2024 revenue results exceeding the company’s expectations, particularly due to an increase in spinal cord stimulation (SCS) device replacement procedures during the fourth quarter. To enhance market growth, the company reallocated its resources towards direct-to-consumer (DTC) advertising initiatives in the third quarter of the fiscal year, which have begun to yield promising patient engagement outcomes.
Thornal noted that the impact of DTC advertising is expected to grow throughout 2025, potentially leading to a more significant influence in the latter half of the year. This restructuring, combined with a strong balance sheet, reflects Nevro’s commitment to efficient capital management and responsive business strategies aimed at improving patient care.
In addition to its financial updates, Nevro is actively exploring various strategic options to enhance its growth trajectory, diversify its product offerings, and promote shareholder value. Although the details of this ongoing strategic evaluation have not yet been disclosed, the company has committed to updating stakeholders as developments arise.
Looking ahead, Nevro plans to release comprehensive financial results for the fourth quarter and full year of 2024, along with projections for 2025, during its earnings call scheduled for early March 2025.
Headquartered in Redwood City, California, Nevro is dedicated to creating impactful, life-altering solutions for individuals suffering from chronic pain. The company is renowned for its innovative 10 kHz Therapy™, a non-pharmacological treatment that has revolutionized patient outcomes worldwide, helping over 115,000 individuals. Nevro's HFX™ spinal cord stimulation platform includes the advanced Senza® SCS system, tailored services for managing chronic pain, and comprehensive treatment options for patients grappling with condition-specific challenges such as painful diabetic neuropathy and sacroiliac joint pain.
This commitment to innovation and patient support is evident in the firm’s unique offerings, including dedicated coaching services and insights for healthcare professionals, aimed at enhancing the overall quality of life for their users. As Nevro continues to redefine standards in chronic pain management, the future looks promising, with active efforts aimed at sustaining growth and expanding its reach in the evolving medical device sector.
Financial Overview
In its latest financial forecast, Nevro estimated that its worldwide revenue for the final quarter of 2024 would be approximately $105 million to $106 million. This represents a decrease of about 9% to 10% when compared to the same quarter in 2023. Furthermore, U.S. revenue for the fourth quarter is anticipated to fall within the range of $91 million to $92 million, echoing the downward trend observed across the board.
For the entire year, Nevro expects its worldwide revenue to amount to around $408 million to $409 million. This figure reflects an annual decline of roughly 4% relative to 2023. On a positive note, the total cash, cash equivalents, and short-term investments are projected to have increased by approximately $15.5 million from the previous quarter, reaching an estimated $292.5 million by the end of December 2024.
Positive Strategic Shifts
The highlights of Nevro's financial performance reveal a mixed bag. CEO Kevin Thornal expressed optimism regarding the 2024 revenue results exceeding the company’s expectations, particularly due to an increase in spinal cord stimulation (SCS) device replacement procedures during the fourth quarter. To enhance market growth, the company reallocated its resources towards direct-to-consumer (DTC) advertising initiatives in the third quarter of the fiscal year, which have begun to yield promising patient engagement outcomes.
Thornal noted that the impact of DTC advertising is expected to grow throughout 2025, potentially leading to a more significant influence in the latter half of the year. This restructuring, combined with a strong balance sheet, reflects Nevro’s commitment to efficient capital management and responsive business strategies aimed at improving patient care.
Strategic Review and Future Outlook
In addition to its financial updates, Nevro is actively exploring various strategic options to enhance its growth trajectory, diversify its product offerings, and promote shareholder value. Although the details of this ongoing strategic evaluation have not yet been disclosed, the company has committed to updating stakeholders as developments arise.
Looking ahead, Nevro plans to release comprehensive financial results for the fourth quarter and full year of 2024, along with projections for 2025, during its earnings call scheduled for early March 2025.
About Nevro Corp.
Headquartered in Redwood City, California, Nevro is dedicated to creating impactful, life-altering solutions for individuals suffering from chronic pain. The company is renowned for its innovative 10 kHz Therapy™, a non-pharmacological treatment that has revolutionized patient outcomes worldwide, helping over 115,000 individuals. Nevro's HFX™ spinal cord stimulation platform includes the advanced Senza® SCS system, tailored services for managing chronic pain, and comprehensive treatment options for patients grappling with condition-specific challenges such as painful diabetic neuropathy and sacroiliac joint pain.
This commitment to innovation and patient support is evident in the firm’s unique offerings, including dedicated coaching services and insights for healthcare professionals, aimed at enhancing the overall quality of life for their users. As Nevro continues to redefine standards in chronic pain management, the future looks promising, with active efforts aimed at sustaining growth and expanding its reach in the evolving medical device sector.
Topics Health）
【About Using Articles】
You can freely use the title and article content by linking to the page where the article is posted.
※ Images cannot be used.
【About Links】
Links are free to use.