NVRO - Why Shares of Nevro Are Down Wednesday
2023-08-02 15:40:29 ET
Shares of Nevro (NYSE: NVRO) were down more than 19% as of 3:30 p.m. ET on Wednesday after the company announced second-quarter earnings. The healthcare stock is down more than 49% so far this year.
Nevro is a medical device company that focuses on therapies to treat chronic pain. The company's earnings didn't keep up with company guidance or analysts' expectations, and Nevro also lowered full-year guidance. The company reported revenue of $108.8 million, which, while it was up 4% year over year, was lower than the $110 million to $112 million that Nevro had given earlier guidance for. The quarterly revenue figure was also lower than the consensus of $109.33 given by analysts.
The company also said it had a net loss of $24.3 million in the quarter, compared to a net loss of $23.8 million in the same period last year.
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Why Shares of Nevro Are Down Wednesday