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.

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