Workflow
Nevro(NVRO) - 2021 Q4 - Earnings Call Presentation

Financial Performance & Guidance - Worldwide revenue for Q4 2021 was $102.8 million, a decrease of 6% year-over-year, and a 10% decrease compared to Q4 2019[5] - U S revenue for Q4 2021 was $88.4 million, a decrease of 7% year-over-year, and a 10% decrease compared to Q4 2019[5] - Full-year 2021 worldwide revenue reached $386.9 million, a 7% increase year-over-year, but a 1% decrease compared to full-year 2019[5] - The company projects full-year 2022 revenue to be between $415 million and $430 million, which includes $25 million to $30 million from PDN revenue[16] - Non-GAAP Adjusted EBITDA for full-year 2022 is projected to be negative $8 million to negative $18 million[16] Strategic Initiatives & Market Position - The company received FDA approval for 10 kHz Therapy for Non-Surgical Refractory Back Pain (NSRBP)[6] - The company believes it is the only SCS company ahead of annual revenue compared to 2019, as of December 2021[10] - Launch initiatives for Painful Diabetic Neuropathy (PDN) are driving awareness, with PDN trials representing approximately 7% of total US trial volume in Q4 2021[6] - UnitedHealthcare's coverage decision for 10 kHz Therapy for PDN is expected to increase patient access[6] - Approximately 35% of PDN patients are covered as of March 1, 2022, following UnitedHealthcare's expansion[40] Market Opportunity - The total addressable U S lower back & leg market is estimated at $17.9 billion annually, with approximately 8% penetration[23] - The annual total addressable market for PDN is estimated to be ~$3.5-5.0 billion[30]