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REDWOOD CITY, Calif. - Nevro Corp . (NYSE:NVRO) reported fourth-quarter 2024 results that beat revenue expectations but showed a wider loss than analysts anticipated, as the medical device maker continues to face challenges in its spinal cord stimulation business.
Nevro posted revenue of $105.5 million for the quarter, down 9.1% YoY but above the consensus estimate of $100.18 million. However, the company reported a loss per share of $1.41, significantly worse than the analyst expectation of a $0.78 loss per share.
U.S. revenue declined 9.9% to $91.4 million, with permanent implant procedures down 7% and trial procedures falling 14.2% compared to Q4 2023. International revenue decreased 3.8% to $14.1 million.
The company’s adjusted EBITDA was negative $5.2 million for the quarter, compared to positive $8.4 million in the prior year period.
"We are pleased that adjusted EBITDA for the full-year 2024 came in ahead of our revised expectations and that our balance sheet remains strong," said Kevin Thornal, Nevro’s president and CEO.
Nevro ended the quarter with $292.5 million in cash and short-term investments, up $15.5 million from the previous quarter.
The company did not provide guidance for 2025 due to its pending acquisition by Globus Medical (NYSE:GMED), announced in February. The all-cash deal values Nevro at approximately $250 million.
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