Nevro (NVRO) Tops Q1 EPS by 19c, Revenues Miss

Nevro (NYSE: NVRO) reported Q1 EPS of ($0.78), $0.19 better than the analyst estimate of ($0.97). Revenue for the quarter came in at $87.5 million versus the consensus estimate of $89.46 million.

"Through February, Nevro's performance was trending above our expectations with U.S. trials and permanent implants growing at 20% and 29%, respectively, over the prior year. We experienced a significant decline in both trials and permanent implants of our products in March with the impact of the COVID-19 pandemic," said D. Keith Grossman, Chairman, CEO and President of Nevro. "Our highest priority now is to support the health and safety of our customers, patients and employees. We continue to support our customers as they prepare for the return of procedural volumes, in accordance with public health and safety guidelines, to help the growing number of patients who suffer from chronic debilitating pain."

2020 Financial Guidance

Due to the rapidly evolving environment and continued uncertainties resulting from the impact of COVID-19, Nevro withdrew its previously announced annual guidance for 2020 on April 1, 2020. Due to the uncertain scope and duration of the pandemic, and the timing of global economic recovery, the Company cannot, at this time, reliably estimate the future impact on its operations and financial results.

For earnings history and earnings-related data on Nevro (NVRO) click here.

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