NeuroPace Q1 revenue $14.5M (+27% YoY) and raises FY2023 guidance to $52-54M

NeuroPace Inc

2023-Q1 EPS reported -$0.41 revenue$14,472,000

Q1 revenue $14.5M, up 27% YoY and 13% sequentially; net loss narrowed to $10.4M from $11.5M.
Full-year 2023 revenue guidance raised to $52-54M (prior $50-52M), implying 14-19% YoY growth.
Gross margin 72% vs 73% YoY; operating expenses $18.7M; cash and investments $67.6M.
RNS System utilization and DIXI Medical distribution drove growth; replacement implants declined.
NAUTILUS pivotal study for primary generalized epilepsy enrolling as expected.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NeuroPace Inc reported full year 2023 results: revenue $52 million to $54 million. Guidance raised.

Period: full year 2023
Revenue: $52 million to $54 million
Guidance: raised
Result: guidance update

Exact text from the filing

Full Year 2023 Financial Guidance • Increased total revenue guidance to $52 million to $54 million, representing growth of 14% to 19% over 2022, as compared to previously-communicated guidance of $50 million to $52 million • Reiterated gross margin to range between 69% and 71% • Reiterated total operating expenses to range between $75 million and $77 million

View on SEC.gov

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

NeuroPace Inc reported first quarter ended March 31, 2023 results: revenue $14.5 million, net income $10.4 million.

Period: first quarter ended March 31, 2023
Revenue: $14.5 million
Net income: $10.4 million
Result: reported results

Exact text from the filing

Total revenue was $14.5 million in the first quarter of 2023, representing growth of 27% compared to the prior year period and 13% compared to the prior quarter. Replacement implant revenue declined compared to the prior year period and represented less than 10% of total revenue in the first quarter of 2023. The decrease in replacement implant revenue was expected as previously implanted patients finish transitioning to the second generation RNS System with a nearly 11-year average battery life. Gross margin for the first quarter of 2023 was 72% compared to 73% in the first quarter of 2022 and 69% in the fourth quarter of 2022. The decline in gross margin compared to the first quarter of 2022 was primarily due to the change in product mix as a result of initiating distribution of DIXI Medical products in the fourth quarter of 2022. Total operating expenses in the first quarter of 2023 were $18.7 million, compared to $18.0 million in the prior year period. R&D expense in the first quart

View on SEC.gov

51 earnings releases filed in the last 30 days. Browse all earnings releases →

NeuroPace Inc filing history →

Source: SEC EDGAR

accession 0001528287-23-000024

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.