Nevro shares down on Q4, 2018 miss

Shares in Nevro (NYSE:NVRO) fell today after the medical device maker released fourth quarter and full year 2018 earnings that missed loss-per-share expectations on Wall street. The Redwood City, Calif.-based company posted losses of $9.7 million, or 32¢ per share, on sales of $107.9 million for the three months ended December 31, seeing losses grow 97.1% while sales grew 10.2% compared with the same period during the previous year. Losses per share for the quarter were just behind the 21¢ consensus on Wall Street, where analysts expected to see sales of $107.1 million, which the company topped. For the full year, Nevro reported losses of approximately $49 million, or $1.64 per share, on sales of approximately $387.3 million, seeing losses grow 31.8% while sales grew 18.6% compared with the same period during the previous year. Losses per share for the year were also behind the Wall Street consensus, at $1.53, but sales topped analysts expectations of $386.3 million. Nevro also released guidance for 2019, saying it expects to post sales of $400 to $410 million, according to a press release. Last week, Nevro said that it filed a patent infringement suit alleging that Stimwave infringed on patents related to Nevro’s Senza system and HF10 therapy. The post Nevro shares down on Q4, 2018 miss appeared first on MassDevice.
Source: Mass Device - Category: Medical Devices Authors: Tags: Business/Financial News MassDevice Earnings Roundup Wall Street Beat Nevro Corp. Source Type: news