NEVRO CORP Reports Q2 FY2023 Earnings Results on August 1, 2023.
August 28, 2023
🌥️Earnings Overview
On August 1 2023, NEVRO CORP ($NYSE:NVRO) reported their earnings for the second quarter of FY 2023 (ending June 30 2023). A total revenue of USD 108.8 million was earned, a 4.4% increase from Q2 of FY 2022. The net income was reported at USD -24.7 million, a slight improvement from the -25.0 million reported in the same period the prior year.
Share Price
On August 1, 2023, NEVRO CORP reported their earnings results for the second quarter of FY2023. At the start of the day, NEVRO CORP’s stock opened at $24.6 and closed at $24.7, representing a 1.3% decrease from their previous closing price of $25.0. This earnings report included various financial metrics such as revenue, expenses, net income, net profit, and more. The report also provided an outlook into the company’s future performance and potential growth opportunities. Investors were disappointed with the results, leading to a decline in the stock price.
However, analysts are still optimistic about the company’s future prospects and believe that long-term investors will benefit from investing in NEVRO CORP. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Nevro Corp. More…
| Total Revenues | Net Income | Net Margin |
| 419.45 | 2.56 | -14.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Nevro Corp. More…
| Operations | Investing | Financing |
| 22.11 | -69.42 | 3.26 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Nevro Corp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 569.52 | 274.77 | 8.17 |
Key Ratios Snapshot
Some of the financial key ratios for Nevro Corp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 5.4% | – | 2.5% |
| FCF Margin | ROE | ROA |
| 3.1% | 2.2% | 1.2% |
Analysis
GoodWhale has conducted a comprehensive analysis of NEVRO CORP‘s wellbeing. Our Star Chart indicates that NEVRO CORP is strong in asset, medium in growth, profitability and weak in dividend. Based on this data, we have classified NEVRO CORP as a ‘rhino’: a type of company that has achieved moderate revenue or earnings growth. This means that NEVRO CORP is likely to be of interest to investors who seek steady, but not overly impressive returns. Additionally, our analysis shows that NEVRO CORP has an intermediate health score of 5/10 with regard to its cashflows and debt, indicating that it is likely to sustain future operations in times of crisis. More…
Peers
The company’s competitors include NuVasive Inc, InspireMD Inc, and Inspire Medical Systems Inc.
– NuVasive Inc ($NASDAQ:NUVA)
NuVasive Inc is a medical device company that develops, manufactures, and markets minimally-invasive surgical products for the spine. As of 2022, the company has a market capitalization of $2.22 billion and a return on equity of -1.33%. The company’s products are used in spine surgeries including lumbar decompression, lumbar fusion, and cervical spine fusion.
– InspireMD Inc ($NASDAQ:NSPR)
InspireMD Inc is a medical device company that focuses on the development and commercialization of its proprietary microNet stent platform technology for the treatment of coronary and peripheral artery disease. As of 2022, its market cap is 9.49M and its ROE is -38.62%. The company’s microNet stent is a small mesh tube that is placed over the arterial lesion and is designed to improve blood flow and reduce the risk of clotting. The microNet stent is made of a biocompatible metal alloy and is coated with a thin layer of polymer. The company’s products are CE marked and are available in Europe, the Middle East, and Latin America.
– Inspire Medical Systems Inc ($NYSE:INSP)
Inspire Medical Systems Inc is a company that focuses on sleep apnea treatment. The company has a market cap of 5.97B as of 2022 and a ROE of -11.49%. The company’s products are available in over 30 countries and its products have been used by over 1 million patients.
Summary
Investors in NEVRO CORP saw a modest improvement in the company’s financials for Q2 of FY2023. Revenue grew by 4.4%, reaching USD 108.8 million, while net income was reported at USD -24.7 million, an improvement from the previous year’s negative figure of -25.0 million. This is encouraging news, as it indicates that the company is taking steps to improve its earnings and create sustainable growth. Despite the negative net income figure, investors should remain optimistic as NEVRO CORP continues to take steps to move in the right direction.
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