NASDAQ$NPCE
Neuropace Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
NeuroPace's revenue increased significantly, driven by RNS System utilization and DIXI Medical products, while operating expenses were managed effectively.
NeuroPace reported a strong second quarter with a 62% increase in revenue year-over-year, driven by increased utilization of the RNS System and meaningful revenue from DIXI Medical products. The company also reduced its cash burn and increased its full-year revenue guidance.
- Total revenue reached $16.5 million, a 62% increase compared to Q2 2022.
- Cash burn was reduced to $4 million, a significant decrease from $9.8 million in Q1 2023.
- Full-year revenue guidance was increased to $59-$61 million, up from $52-$54 million.
- NAUTILUS trial enrollment remains on track, with completion anticipated in Q1 2024.
Headline financials
Revenue & EPS history
Neuropace · Revenue · Quarterly
$16.5M
Revenue by segment
Neuropace · $1.6M total across 1 segment · Q4 2022
- DIXI Medical$1.6M—100.0%
Forward guidance
NeuroPace has increased its full year revenue guidance to $59 million to $61 million and gross margin guidance to 70% to 72%.
Tailwinds
- Revenue growth is expected to be primarily driven by increasing utilization of the RNS System.
- The full year impact of distributing DIXI Medical stereo EEG products is expected to contribute to revenue.
- NeuroPace is focused on bringing its RNS System to more patients through existing CECs and an expanded group of epileptologists and functional neurosurgeons.
- The company expects to complete enrollment in the NAUTILUS trial in the first quarter of 2024.
- The company is committed to advancing its mission of transforming the lives of patients living with epilepsy while delivering shareholder value.
Headwinds
- A continuing decline in revenue from replacement device implants is expected through the end of the year.
- The decline is due to the company completing its transition to its second-generation device with a longer-lasting battery.
- Uncertainties, risks, and assumptions could affect actual outcomes and results.
- The ongoing uncertainty of the impact of COVID-19, as well as COVID recovery impact, on NeuroPace’s business could affect results.
- The company's long term debt is $54.9 million with the full principal due on September 30, 2025.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2023
-0.7%
Avg return
Earnings day
-1.0%
Avg return
5 days after
-0.1%
Avg return
30 days after
50%
12 / 24 earnings
Positive
+37.4%
Q3 2025
Best reaction
-40.1%
Q1 2024
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | +0.6% | -1.8% | — | |
| Q4 2025 | +1.1% | +1.6% | +5.9% | |
| Q3 2025 | +37.4% | +43.1% | +74.5% | |
| Q1 2025 | +21.6% | +31.3% | -14.5% | |
| Q4 2024 | -2.4% | -15.8% | +2.6% | |
| Q3 2024 | +25.7% | +23.4% | +49.9% | |
| Q2 2024 | -1.9% | -0.4% | +4.8% | |
| Q1 2024 | -40.1% | -35.9% | -51.4% | |
| Q4 2023 | +0.8% | +2.5% | -8.4% | |
| Q3 2023 | -1.4% | +9.5% | +14.6% | |
| Q2 2023 | +9.8% | +9.8% | +103.4% | |
| Q1 2023 | +1.9% | -3.5% | -15.4% | |
| Q4 2022 | -13.3% | -7.8% | -1.9% | |
| Q3 2022 | -9.9% | -17.6% | -29.6% | |
| Q2 2022 | -3.5% | -10.2% | -26.6% | |
| Q1 2022 | +1.2% | -3.6% | -3.8% | |
| Q4 2021 | -0.9% | -7.7% | -1.2% | |
| Q3 2020 | -15.2% | -22.2% | -47.7% | |
| Q3 2021 | -15.2% | -22.2% | -47.7% | |
| Q2 2021 | -7.6% | -10.7% | -8.0% | |
| Q2 2020 | -7.6% | -10.7% | -8.0% | |
| Q1 2020 | +0.8% | +8.7% | +2.2% | |
| Q1 2021 | +0.8% | +8.7% | +2.2% | |
| Q4 2020 | +0.8% | +8.7% | +2.2% |
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