Nevro reports Q2 EPS (53c), consensus (68c)

Reports Q2 revenue $104.2M, consensus $107.35M. “Our Q2 results were primarily driven by ongoing softness in the U.S. spinal cord stimulation (SCS) market and competitive pressures,” said Kevin Thornal, Nevro’s CEO. “Our recent in-depth market analysis shows that newer treatment therapies have emerged earlier in the care continuum ahead of SCS therapy. We believe these therapies are, in some cases, delaying patients in getting SCS therapy, which is towards the end of the care continuum, but we believe many patients will ultimately continue their journey to treat the often-multiple causes of their pain through SCS therapy. While the SCS market remains significantly underpenetrated and will remain an important solution for patients suffering from chronic pain, we believe our strategy to enter and build our business in more diverse markets serving patients earlier in the care continuum will position us to realize sustainable growth, a faster path to profitability and value creation.”