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EX - 99.1 2 nvro - ex991_54.htm EX - 99.1 FOR IMMEDIATE RELEASE Investors and Media : Julie Dewey , IRC Nevro Corp. Vice President , Investor Relations & Corp Communications 650-433-3247 | julie.dewey@nevro.com Exhibit 99.1 ....... NEV20 Nevro Reports Second Quarter 2021 Financial Results and Provides Third Quarter of 2021 Guidance REDWOOD CITY , California , August 4 , 2021 - Nevro Corp. ( NYSE : NVRO ) , a global medical device company that is providing innovative , evidence - based solutions for the treatment of chronic pain , today reported its financial results for the second quarter ended June 30 , 2021 and provided third quarter of 2021 guidance . Second Quarter Updates , Recent Highlights and Guidance • • • • • FDA Approval of 10 kHz High Frequency Spinal Cord Stimulation Therapy for Treatment of Chronic Pain Associated with Painful Diabetic Neuropathy ( PDN ) Second Quarter 2021 Worldwide Revenue of $ 102.3 Million ; Increase of 81 % Compared to Prior Year and Increase of 9 % Compared to 2019 Second Quarter 2021 Net Loss from Operations of $ 15.8 Million ; Second Quarter 2021 Non - GAAP Adjusted EBITDA of $ 3.0 Million Provides Third Quarter 2021 Revenue Guidance of $ 90 Million to $ 93 Million Provides Third Quarter 2021 Non - GAAP Adjusted EBITDA Guidance of Negative $ 10 Million to Negative $ 12 Million Full U.S. Market Launch of Omnia ™ Powered by HFX Connect ™ and New Trial Stimulator Module Presentation of Positive 12 - Month Follow - Up Results and 6 - Month Crossover Patient Data for Landmark SENZA - PDN Randomized Controlled Trial at the American Diabetes Association 81st Scientific Sessions Presentation of Positive 6 - Month Follow - Up Results for SENZA - NSRBP RCT at the American Society of Interventional Pain Physicians 23rd Annual Meeting Second Quarter 2021 Financial Overview Worldwide revenue for the second quarter of 2021 was $ 102.3 million , an increase of 81 % compared to $ 56.4 million in the prior year period and an increase of 9 % compared to $ 93.6 million in the second quarter of 2019 . U.S. revenue in the second quarter of 2021 was $ 85.0 million , an increase of 67 % compared to $ 51.0 million in the prior year period and an increase of 9 % compared to $ 78.1 million in the second quarter of 2019. Compared to prior year , Q2 total U.S. permanent implant procedures increased 60 % , while trial procedures increased 45 % . Compared to the second quarter of 2019 , U.S. permanent implant procedures increased 5 % , and trial procedures decreased 8 % . Trial and permanent implant volumes were impacted primarily by a continued reluctance of new patients to seek interventional therapies for chronic pain in numbers comparable to pre - COVID levels . International revenue was $ 17.3 million , an increase of 222 % as reported or 191 % constant currency , compared to $ 5.4 million in the prior year period , and an increase of 12 % as reported or 3 % constant currency , compared to $ 15.5 million in the second quarter of 2019. International revenues continued to be impacted by COVID - related issues as well , including both patient behavior and healthcare facility restrictions . " The recovery of procedural volumes in the pain market generally and the SCS market specifically has been slower than we anticipated , impacting not only second quarter revenues , but in the case of lower trial procedures , revenue in future months as well , " said D. Keith Grossman , Chairman , Chief Executive Officer and President of Nevro . " In Page | 1