2021 Outlook
Nevro continues to monitor and evaluate the impact the global response to the COVID pandemic has had, and will continue to have, on its operations and financial results. Due to the uncertainties related to COVID, the company is withdrawing full year 2021 guidance and only providing third quarter guidance at this time. This third quarter guidance is highly sensitive to the pace of COVID recovery and patient willingness to seek elective care, which the company believes is difficult to predict. If these assumptions differ from the actual pace of COVID recovery and its impact on the company’s markets, then the company may need to change or withdraw this guidance in the future.
Nevro expects third quarter worldwide revenue of approximately $90 million to $93 million. This third quarter guidance represents a 14% to 17% decrease over prior year and a 7% to 10% decrease compared to the third quarter of 2019.
The company expects third quarter of 2021 non-GAAP adjusted EBITDA to be approximately negative $10 million to negative $12 million. Non-GAAP adjusted EBITDA excludes certain litigation expenses, interest, taxes and non-cash items such as stock-based compensation and depreciation and amortization. Please see financial tables for GAAP to Non-GAAP reconciliations.
An investor presentation for the company’s second quarter 2021 financial results is available in the “Investors” section of Nevro’s website at www.nevro.com.
