Initiates Process Aimed at Accelerating Growth, Diversifying Product Portfolio and Maximizing Stockholder Value Revises Full-Year 2024 Revenue Guidance to a Range of $400 million to $405 million and Adjusted EBITDA Guidance to a Range of $(20) Million to $(18) Million Provides Third-Quarter 2024 Guidance REDWOOD CITY, Calif. , Aug. 6, 2024 /PRNewswire/ -- Nevro Corp.
(NYSE: NVRO ), a global medical device company that is delivering comprehensive, life-changing solutions for the treatment of chronic pain, today reported its second-quarter 2024 financial results, revised its full-year 2024 guidance, and issued third-quarter 2024 guidance. The company also announced that it is initiating a process aimed at accelerating its growth, diversifying its product portfolio and maximizing stockholder value. "Our second-quarter 2024 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 solut.